State Street

  www.statestreet.com
  www.statestreet.com

State Street Reviews

Updated 18 December 2014
Updated 18 December 2014
1,387 Reviews
2.8
1,387 Reviews
Rating Trends

Recommend to a friend
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State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
450 Ratings

Review Highlights

Pros
  • Good work life balance with potential to work from home or create a flexible schedule (in 132 reviews)

  • The flex work schedule, most people have an option to work from home twice a week (in 65 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 42 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 57 reviews)

More Highlights

187 Employee Reviews Back to all reviews

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  1. 2 people found this helpful  

    If you have worked anywhere else this will be worse

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in London, England
    Former Employee - Anonymous Employee in London, England

    I worked at State Street full-time (more than an year)

    Pros

    They pay you each month (nowhere near the market rate but they do pay you!)
    "Welcome to State Street" seems a nice thing to say but it is the phrase they use to new hires when the new hire questions the ludicrous ways that State Street does things! Translates to "I know its absolutely ridiculous but don't even bother thinking you're going to change anything."

    Cons

    No strategy.
    Unbelievably status oriented. Don't bother having any ideas about how you could improve things- it's only your boss who can have ideas. And don't try arranging a meeting with someone of a higher "bank grade" or sending them an email. They won't respond.
    Dictatorial
    Culture of presenteeism. You need to be seen to be in the office and for extended hours. It's not about what you deliver.

    Advice to ManagementAdvice

    Give it all up and sell the business to someone who knows how to run a business.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 6 people found this helpful  

    Do not take a job with them

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Analyst in London, England
    Current Employee - Financial Analyst in London, England

    I have been working at State Street full-time (more than 3 years)

    Pros

    Good work life balance.
    Good training.

    Cons

    The salary is crap and when you get promoted you are told that we cannot give you anymore as we just don't have the money but please take on the extra responsibility and extra hours for nothing because you should just love to work for us !!
    There isn't much in terms of progression.

    Advice to ManagementAdvice

    Bring the salary to market level. The reason why everyone is leaving. Then you just end up paying for recruitment costs and having to pay the new person the market rate and then have the learning curve which you could've avoided if you just paid the current employee the right wages.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  3. 1 person found this helpful  

    They look after their shareholders, not their employees

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street

    Pros

    easy to get into the company

    Cons

    They don't even know where my FSA money is. Its been several months since I left and I'm still waiting on a reimbursement since they cannot find my money! work/life balance is awful, pay is probably the lowest in the industry, turnover is very high.

    Advice to ManagementAdvice

    Mgmt either does not read these or does not do anything since the company has such a low score and still nothing changes.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5.  

    This is a profit based BUSINESS

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Officer in Boston, MA (US)
    Former Employee - Officer in Boston, MA (US)

    I worked at State Street

    Pros

    Paycheck
    Benefits
    Group discounts to merchants and attractions

    Cons

    You are a cog in the wheel of this well oiled machine that has established unnatural relationships around the world built off of the back of recent college graduates.

    You will be confined to a desk for hours at a time. You will be yelled at for having to do natural things such as relieve yourself. You will watch people run around with smiles on their faces. You will be inundated with work by the people who have been authorized to un around.

    The people in leadership positions have been awarded these positions based on relationships. Highly political at all levels.

    This company is the pickle party. Think of all the people you use to cheer, hockey players, football players, etc. When the lights go out, they enter the street - State Street that is. And, the board of directors is well aware of this. Plenty of people who had families working for this company are going to be hell bent when the board relieves them.

    Advice to ManagementAdvice

    What is management? The practice of? If I could pull them out of their daily circle jerks, I still wouldn't say anything. To the board of directors: Good job, hope nobody finds you.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    Client Operations #1

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street

    Pros

    A good start if you cant find a job

    Cons

    Starting pay is $15.
    Boaring

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  7. 3 people found this helpful  

    Slave street

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Client Operations
    Former Employee - Client Operations

    I worked at State Street full-time (more than an year)

    Pros

    Work from home. That's about it. That's only if you have a manager that lets you do it.

    Cons

    -outsourcing
    -a joke of a salary, the lowest in the industry
    -huge corporation so you always feel lost : need to talk to HR? Who do I go to? Need to talk to IT? : sit on hold with the "Help(less) Desk" for hours and finally have your questions not answered by someone in India... Seriously it took them 6 months to install something very basic and necessary for my job into my computer
    -does NOT look good on a resume... I've talked with many recruiters in the industry
    -everyone is incompetent
    -smart people leave, mediocre people get promoted
    -no work life balance in some groups. When I was hired, I was duped into thinking that we would get paid for all the overtime we put in. Actually the standard day was 9 hours, and they would make you put in a mandatory UNPAID hour lunch break. But of course you couldn't get away from your desk for more than 10 minutes without getting yelled at. So you didn't actually take that lunch break, ever. Sorry, but you can't make people work 50 hour weeks, staying until 8,9, sometimes 10 pm every night for the ridiculous blue collar salary you pay us.

    Advice to ManagementAdvice

    Like they would even care? Where are they? Do they ever listen to what we have to say. I wonder how Jay Hooley sleeps at night knowing that this is a legal slavery operation that he is running

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    Mediocre at best

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Global Transaction Processing Associate in Hadley, MA (US)
    Current Employee - Global Transaction Processing Associate in Hadley, MA (US)

    I have been working at State Street part-time (more than an year)

    Pros

    The work is not challenging, very easy to get by

    Cons

    No upwards movement, terrible salary

    Advice to ManagementAdvice

    Treat your employees better so you attract higher quality professionals

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 5 people found this helpful  

    Unless you are desperate for a job look somewhere else

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Pricing Analyst in Quincy, MA (US)
    Current Employee - Senior Pricing Analyst in Quincy, MA (US)

    I have been working at State Street full-time (more than 8 years)

    Pros

    Decent benefits
    Team oriented
    Located outside of Boston

    Cons

    Always understaffed
    Work all but 2 holidays a year
    Poor training
    Limited room for gorwth
    Low base salary and bonus compared to other companies
    Overworked and everyone in the team is burnt out
    Worked during 3 blizzards and one tropical storm

    Advice to ManagementAdvice

    Hire more people to spread the work load, focused more on training current employees, and recognize those who stand

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10. 2 people found this helpful  

    Not worth your time

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Trade Processor Associate I in Hadley, MA (US)
    Current Employee - Trade Processor Associate I in Hadley, MA (US)

    I have been working at State Street part-time (more than an year)

    Pros

    extra money while in school, make your own schedule

    Cons

    horrible management, no time off requests granted, boring

    Doesn't Recommend
    No opinion of CEO
  11. 3 people found this helpful  

    Good ops, bad company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Associate in Toronto, ON (Canada)
    Former Employee - Senior Associate in Toronto, ON (Canada)

    I worked at State Street full-time (more than 3 years)

    Pros

    Given the turnover, lots of opps to move up in a short time.

    Cons

    Lots of turnover, constantly understaffed, underpaid, and over worked.
    Incompetant senior management, who cant lead/properly communicate with employees
    underpaid by 20-50% for same positions elsewhere

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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