State Street Reviews

Updated 16 October 2014
Updated 16 October 2014
1,313 Reviews
2.7
1,313 Reviews
Rating Trends

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

Review Highlights

Pros
  • Company has good benefits and is looking to improve work/life balance for employees (in 126 reviews)

  • Many employees can work from home a few days a week if their responsibilities allow them to (in 61 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 39 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 53 reviews)

More Highlights

240 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  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 (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 (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
  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 (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
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review
  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.  

    Associate 2

    • 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 full-time (more than 3 years)

    Pros

    stable, easy tasks, senior management are wll nice, work life balance is good

    Cons

    Not much career advancement, very few promotion opportunities

    Recommends
    Neutral Outlook
    No opinion of CEO
  7. 1 person found this helpful  

    Good, but highly bureaucratic

    • 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 full-time (more than 3 years)

    Pros

    Good work/life balance.
    Competitive base salary and Merit based yearly bonus structure.
    Generous maternity/paternity leave and vacation for higher levels.

    Cons

    Highly bureaucratic and strict adherence to hierarchy.
    Not the place if you are somebody who thinks out of the box and want to do things differently as there are process hurdles.
    Attitude among folks is to get the operational system issues working and get by somehow rather than attacking the core of the issue and devising ways to apply a permanent fix which obviously requires some lateral thinking and more often than not, time pressure to deliver comes in the way.
    Be nice and visible and you will be rewarded well irrespective of the quality of work.

    Recommends
    Positive Outlook
    No opinion of CEO
  8.  

    Good company, but currently playing in a difficult environment

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street

    Pros

    State Street is a global institution with smart professional people and can offer high-impact, challenging job opportunities in some of the most interesting areas of financial services today.

    Cons

    The current industry environment is difficult and not likely to get better for some time, with the sluggish recovery and more intense regulation. As a result, like all other major banks, State Street will continue to have to succeed by cutting costs, making job stability shaky and a high pressure workplace.

    Advice to ManagementAdvice

    Seek to show better support of employees strained by current tough environment and the pressure that comes with it.

  9. 1 person found this helpful  

    Great starting place to work on office personal skills and is easy to stand out.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Fund Accountant, Associate I in Sacramento, CA (US)
    Current Employee - Fund Accountant, Associate I in Sacramento, CA (US)

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

    Pros

    Great group of young co-workers and good way to get experience for recent college grads. Great benefits and the management tends to be promoted from within the company which gives makes for an understanding relationship. You can learn a lot about accounts and as long as you have a little bit of soft skills, its easy to make friends and do well. I work with a great team. Great if you get satisfaction from problem solving with numbers.

    Cons

    Compensation seems to be on the small end in the industry. You will work long hours depending on the group that you work for, but my team does push for working from home and flexing your schedule around your personal life in order not to burn out. People tend to only stick around for 1-3 years.

    Advice to ManagementAdvice

    Company does have a lot of turnover. Invest more immediate pay into your entry level if you want to see them stick around and not transfer out. Quit trying to cut costs by moving to smaller office spaces if you aren't going to distribute savings amongst employees.

    Recommends
    Neutral Outlook
    No opinion of CEO
  10.  

    So far my experience has been good, people are friendly and welcoming!

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

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

    Pros

    It is a great resume booster and the people seem to be very nice so far.

    Cons

    The pay is very low for someone living in the city or communting to it.

    Advice to ManagementAdvice

    Be more accomodating to personal finances.

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    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 (less than an 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

Work at State Street? Share Your Experiences

State Street

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.