Once great firm no longer worth your time - Managing Director State Street Employee Review

2.0
Feb 16, 2024
Recommend
CEO approval
Business outlook

Pros

- Long-standing, stable firm doing important work in a vital industry - True innovation happens here, depending on where in the organization you work and how well funded it is - Culture from middle-management down supports new ideas and values manager/employee relationships - Decent opportunities if you're a very high performer, have a thick skin and a lot of patience - Good bonuses, but again, only if you're a high performer

Cons

- Company can't get out of its own way with an insane level of red tape, antiquated policies and overly-complicated employee communications - Innovation is squashed more often than not due to hilariously low budgets and staff resources, even in critical areas of the business - While middle-manager/employee relationships are often healthy, executives (EVPs) severely undermine them with rash decisions and surprise policy changes that leave everyone wondering if they're deliberately trying to wreck the company - Alarming trend down in the promotion policy that requires even junior employees to apply for their own role — if they don't get it, they're gone - Forced return-to-office applies largely to the US and nowhere else in the world, leaving a huge part of the workforce feeling unfairly targeted - Lower and lower base pay that is now well below market average, with no cost-of-living increases (many, many years of 0% change) - The company does not invest enough in people or technology to do the essentials, so many people are constantly overworked (60, 70, 80 or more hours per week)

Explore other reviews about State Street

5.0
Jun 5, 2026
Recommend
CEO approval
Business outlook

Pros

on-boarding was easy, lot of learning opportunities/clients to service, nice co-workers

Cons

sparse work-load allotted, difficult client assignments, strict vps

1.0
May 14, 2026
Recommend
CEO approval
Business outlook

Pros

Remote work is (rarely) an option, though the approval process is extremely slow and bureaucratic. There are a few well-meaning colleagues who genuinely try to drive positive change before burning out.

Cons

Onboarding and HR processes are severely broken, taking 11 months to approve remote status and failing to prepare basic equipment for day one. The workplace culture is deeply hostile, with anger and yelling functioning as the default communication style across teams. Leadership turnover is rampant, resulting in constant re-organizations, splintered teams, and a total lack of strategic direction. Role clarity is non-existent, forcing employees to invent their own daily tasks while receiving entirely contradictory instructions. Direct management is completely absent; I went seven months without any contact from my boss before being laid off via a three-word instant message and short call.

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