State Street
2.8 of 5 1,015 reviews
www.statestreet.com Boston, MA 5000+ Employees

State Street Reviews

Updated Apr 18, 2014
All Employees Current Employees Only

2.8 1,015 reviews

                             

52% Approve of the CEO

State Street President and CEO Joseph L Hooley

Joseph L Hooley

(325 ratings)

41% of employees recommend this company to a friend
192 Employee Reviews Back to all reviews
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Tremendous Changes underway. Company evolving. Can old managers lead in this new regime, time will tell. I hope so.

Vice President (Current Employee)
London, England

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

ProsA 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.

ConsTransformation 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 Senior ManagementEmployees 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.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Good job for graduates/people without former experience

Anonymous Employee (Former Employee)

I worked at State Street full-time for more than a year

ProsA lot of trainings available, competitive salary for graduates

ConsRepetitiveness of daily work and given tasks

Advice to Senior ManagementBe more open to new solutions/ideas

Yes, I would recommend this company to a friend

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Great Place to work compared to larger Investment banks

Assistant Vice-President (Former Employee)
London, England

I worked at State Street full-time for less than a year

ProsGood Culture and people. Good work life balance.

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

Advice to Senior Management...

Yes, I would recommend this company to a friend

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Varied, interesting and appreciated

Vice President (Current Employee)
Edinburgh, Scotland

I have been working at State Street

ProsState 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.

ConsState Street is quite bureaucratic and decision making can be slow

Yes, I would recommend this company to a friend

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Opportunities to learn and get ahead

Anonymous Employee (Former Employee)
Sydney (Australia)

I worked at State Street full-time

ProsVariety of challenges, excellent systems and commitment to technology investments

Conscomparatively lower salaries than competitors

Advice to Senior Managementembrace diversity

Yes, I would recommend this company to a friend

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Overall, my experience at State Street is a pleasant one mainly because of the people that I work with

Fund Administrator, Associate I (Current Employee)
Toronto, ON (Canada)

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

ProsEducation assistance reimbursement, laid back managers, a decent place to jump start your career as a fresh graduate.

ConsShould hire managers that knows how to motivate employees and are competent with their jobs, menial jobs are common within the company, especially those repetitive operational jobs. Compensation should be competitive to help retain talent.

Advice to Senior ManagementEliminate tasks that are redundant through creative alternatives on getting the job done. Invest on your employees through competitive compensation. Invest on IT and improvement on day-to-day operations.

Yes, I would recommend this company to a friend

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State Street is a performance based company that promotes the hardest workers

First Line Manager (Former Employee)

I worked at State Street full-time for more than 8 years

ProsThe best part of working for State Street is the managers are almost always people who not only excel at their job but are excellent with people skills. They try to get the most out of all of the talent that they have, by being accommodating to their employees.

ConsThe biggest con for State Street is that they do not have competitive salaries. The rest of the industry pays not just better, but generally much better than State Street.

Advice to Senior ManagementAdvice for upper management would be to work with HR to create more defined carreer paths for employees that demonstrate excellence in their job. Also to increase the pay in general, they lose a lot of good employees to competiors for simple financial reasons.

Yes, I would recommend this company to a friend

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Administrative Assistant

Anonymous Employee (Current Employee)

I have been working at State Street

ProsEveryone is helpful. Can ask anyone a question no matter what their title is and they would help. Team players

ConsNone so far. Everyone is just nice! From the maintenance worker to the top boss everyone is nice

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- The World is Flat

Vice President (Current Employee)
Dublin, Dublin (Ireland)

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

ProsChallenging but rewarding work environment - constantly changing

ConsAt times can be somewhat bureaucratic

Advice to Senior ManagementRetain talent and develop strong leaders

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Big Company Normal

Anonymous Employee (Current Employee)

I have been working at State Street full-time

ProsCompany has been around for many years so as an entity very stable. With thousands of employees and a worldwide presence there are opportunities in a variety of areas. Corporate takes a lot of care to share vision with all levels of the firm and to expose different divisions to eachother.

ConsLarge companies tend to move rather slowly. Great deal of corporate policy and procedure.

Yes, I would recommend this company to a friend

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