State Street Reviews

Updated 19 September 2014
Updated 19 September 2014
1,285 Reviews
2.7
1,285 Reviews
Rating Trends

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

Review Highlights

Pros
  • Company has good benefits and is looking to improve work/life balance for employees (in 120 reviews)

  • Many employees can work from home a few days a week if their responsibilities allow them to (in 55 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 36 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 47 reviews)

More Highlights

235 Employee Reviews Back to all reviews

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  1.  

    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 for 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
  2.  

    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 for more than a 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
  3. 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 for less than a 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
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  5.  

    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
  6.  

    Intern

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

    I worked at State Street as an intern for less than a year

    Pros

    Great Work environment... I was on a wonderful floor with a great team and the pay was great for an intern.

    Cons

    No defined goals for Intern, Could have gotten more out of us if we had a defined goal.

    Advice to ManagementAdvice

    None

    Recommends
    Approves of CEO
  7.  

    Plenty of opportunity

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

    I worked at State Street full-time for more than 10 years

    Pros

    People are great, lots of opportunity to expand knowledge and to advance up/around the organization. Opportunities to work from home or in one of the other offices located in the area when needed. Training is available via online courses, webinars, onsite.

    Cons

    Expect to work a lot - nights/weekends. Senior management disconnected from the front line issues. Organization too large and bureaucratic to adapt to changes or effectively address issues.

    Advice to ManagementAdvice

    Focus on creating a vision of where the organization is going and effectively communicate it at all levels so that everyone knows and buys into the process. Find a way to infuse energy into the company and excitement about what you are doing and where you are going.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8.  

    Work hard and be prepared for change

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

    I have been working at State Street

    Pros

    Smart people, great technology, changes are constant

    Cons

    Changes are constant can be difficult to adjust

    Approves of CEO
  9.  

    NICE Experience

    • Culture & Values
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street

    Pros

    Culture, Lifework Balance..
    Smart People.
    Nice colleagues..
    Nice working environment

    Cons

    Job Security.
    Most of the work is Product support which is not suitable for developers with brilliant thoughts...

  10.  

    Good

    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Associate  in  Paris (France)
    Current Employee - Senior Associate in Paris (France)

    I have been working at State Street full-time for more than a year

    Pros

    Good atmosphere And good team spirit

    Cons

    Everything is ok . I like state street corporate culture

    Advice to ManagementAdvice

    None

    Recommends
    Neutral Outlook
    Approves of CEO
  11.  

    Client Services Fund Accountant

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

    I have been working at State Street as a contractor for less than a year

    Pros

    I like how my schdule never changes. Work hard during the week and have weekends off. The workload for everyday is different. Some requests that come in I am not familiar with but I have great supporting team around me to help solve the discrepancies. The office environment is very diverse. People are really polite and respectful mostly.

    Cons

    Sometimes the day can seem long. Some people working the food stations in the cafeteria on the second floor can act moody towards the actual state street workers.

    Advice to ManagementAdvice

    No complaints

    Recommends
    Positive Outlook
    Approves of CEO

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