State Street

www.statestreet.com

State Street Reviews

Updated 24 January 2015
Updated 24 January 2015
1,433 Reviews
2.8
1,433 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
465 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

269 Employee Reviews Back to all reviews

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  1.  

    Good opportunities in a variety of roles/locations.

    Current Employee - Vice-President, Finance in Edinburgh, Scotland
    Current Employee - Vice-President, Finance in Edinburgh, Scotland

    I have been working at State Street

    Pros

    Good opportunities in a variety of locations.

    Cons

    Regulation and the admin around it.

    Advice to ManagementAdvice

    I have no advice for management.

  2.  

    Good place to work at, even if you're new to finance

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

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

    Pros

    Open to new ideas, provide training opportunities, discuss your career path

    Cons

    Not easy to get promoted, takes several decision layers and might take a while, Lots of red tape

    Advice to ManagementAdvice

    To think more carefully where to allocate the budget to. While some initiatives are brilliant and worth doing, others seem a waste of time and money.

    Recommends
  3.  

    Internship at State Street

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

    I worked at State Street as an intern (less than an year)

    Pros

    Very friendly environment to work in

    Cons

    Things can be a little slow to move during interview process

    Recommends
    Positive Outlook
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  5.  

    Tremendous Changes underway. Company evolving. Can old managers lead in this new regime, time will tell. I hope so.

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

    I have been working at State Street full-time (more than 10 years)

    Pros

    A lot can be said about this company that is good.

    Collaboration and Values and creating the future is the order of the day... "Perhaps the decade..." In fact it is a literal minefield of change... but this could be considered a positive thing, and for those who which to success they must embrace it. it can still be a fantastic place to acquire knowledge and skills. (Still...!)

    Work-Life Balance is good and perhaps getting better for those where the opportunity fits.. (Flexible work arrangements are possible, and a level of telecommuting can be optimised for certain roles but this is somewhat rare.)

    State Street has been known for technology in the past, but lots has been going on and especially for employee, the presences of new technologies has never been more obvious. The double edge sword of newer technology here is that employee are expected or assumed to adapt to it. (Well they better.) IT support is self-service, iLearn training is self-service, even social networks are growing dubbed Collaborate aka SharePoint for work and social networking, you better get clicking. So to get the most out of your career, you "must" become savvy to these technologies.

    Cons

    Transformation is rampant, sometimes it means job changes, sometimes outsourcing, but again the attitude here is key... (Anyone who is not aware of Who Moved My Cheese, better read it...)

    There are many different departments and products so it is certainly possible to be locked in areas that are either down-siizng, offshoring, restructuring (transforming) and that can be stressful... Those that do not adapt well may feel can feel marginalised...

    Many managers do not take the time that they could to spread their knowledge.
      - Not to their own teams, and certainly not across other teams...
      - so collaboration in name sounds very cool, looking better and flashier at the top levels.
             (not so much at the middle levels. but creating the future is a work in progress.)

    IT support has been transitioning for years from a full service approach to a self-service approach..
      Those that do not adapt will suffer...

    (But for the people that adapt, IT support is fine, and expertise and documentation is out there for all)
        If IT spend is reduced by millions and millions, employees need to work smarter : Jury is out on this.

    Advice to ManagementAdvice

    Employees are not just looking for a pay check, some want good old fashioned, face-to-face inspiration. The top-down flashiness for management to share their values experiences is good in a way. Strengthening daily manager behaviour is better...

    If managers do not possess or exhibit the skills to mentor their staff, we are creating a class system rather than a community... managers in the new State Street need to be given tools to do their job better.

    Whether acquiring basic IT support, or job mentoring, or computer based and classroom based training, middle managers have not been trained or given the guidance to steer their staff better. Some will adapt because of their personal style, others will not unless they are told how.

    But most outside joiners find our support model a horrific change... probably due to managers not knowing what they should know. (a good model with good tools that is not trained well is perceived by newcomers as a bad model...)

    So either weed out managers who do not lead in the new regime, or train / prepare them appropriately to do so... the tools are definitely there but many managers do not care or know...

    Staff On-Boarding needs a major re-write... and the HR folks that institute a short welcome session is not appropriate to the task. (Day one should be about sorting out all incidentals from IT set-up to phone set-up to site tour to access to product info to culture and governance to assigning a big brother type mentor... And it should be by design.)

    There are so much on-line resources but most people cannot navigate it... so get a job aid in hand on day one... Instil values on day one, as your managers may or may not be doing that.

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Good job for graduates/people without former experience

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

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

    Pros

    A lot of trainings available, competitive salary for graduates

    Cons

    Repetitiveness of daily work and given tasks

    Advice to ManagementAdvice

    Be more open to new solutions/ideas

    Recommends
    Neutral Outlook
    Approves of CEO
  7. 1 person found this helpful  

    Great Place to work compared to larger Investment banks

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

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

    Pros

    Good Culture and people. Good work life balance.

    Cons

    Based in Canary Wharf, some management stuck in its ways.

    Advice to ManagementAdvice

    ...

    Recommends
    Neutral Outlook
    Approves of CEO
  8.  

    Varied, interesting and appreciated

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Vice President in Edinburgh, Scotland
    Current Employee - Vice President in Edinburgh, Scotland

    I have been working at State Street

    Pros

    State Street actually reward performance and don't just say they do. State Street appreciate hard work and make you feel valued. There I also a good culture and work life balance.

    Cons

    State Street is quite bureaucratic and decision making can be slow

    Recommends
    Approves of CEO
  9.  

    Good experience and relaxed environment.

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

    I have been working at State Street as an intern (more than an year)

    Pros

    Good part time pay and understanding coworkers.

    Cons

    Not best pay in field.

    Advice to ManagementAdvice

    Keep talent inside the company with higher wages.

    Recommends
    Positive Outlook
    No opinion of CEO
  10.  

    Good place. Mgt not caring

    • 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

    Nice coworkers. Interesting work available.

    Cons

    Challenging management. Rank and file looked at as
    Fungible.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11.  

    General Review

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President - Technology in Trenton, NJ (US)
    Current Employee - Vice President - Technology in Trenton, NJ (US)

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

    Pros

    Company benefits and policies are great. Flex time and working from home is allowed, but it is at the discretion of your manager.

    Cons

    There are a lot of opportunities within the organization if you're located in Boston. But if you're in the satellite areas, there may not be. The company seems to like to re-organize and lay off people much more often than most companies.

    Advice to ManagementAdvice

    Institute 360 degree review. There are a lot of poor middle managers who need better training on how to manage and work with people.

    Recommends
    Neutral Outlook
    Approves of CEO

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