State Street Global Markets

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State Street Global Markets Reviews

40 Reviews
40 Reviews
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State Street Global Markets Chairman, President & CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
3 Ratings
  1. 1 person found this helpful  

    No structure for investing in, retaining, or promoting top talent. Beware of outsourcing.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Associate II, Foreign Exchange Client Services in Boston, MA (US)
    Former Employee - Associate II, Foreign Exchange Client Services in Boston, MA (US)

    I worked at State Street Global Markets as a contractor (less than an year)


    There is a fair number of young employees and a fairly good mix of age and experience levels which benefits the company. Some of the young employees are quite smart. Certainly it depends on your team but I would say the people are generally down to earth, good people.


    Movement within the company is very difficult. Rather than a centralized HR structure that seeks to promote from within, hiring is done by individual team managers with the help of recruiters based on requisition allowances. Because of this, inside talent is not considered, creating a revolving door of new employees. Current employees must apply just like any other external job seeker. The firm is also outsourcing a great deal. From my experience, this leads to major inefficiencies, consuming time and adding to stress levels of onshore employees. More significantly, this leads to costly mistakes and clients that are regularly furious. There is also, as far as I am aware, no functional IT department so that you have non-tech savvy employees trying to troubleshoot and fix their own technology. Additionally, though not a huge issue for me, many teams in SSGM must work holidays. Yes, Christmas and Thanksgiving etc.

    Advice to ManagementAdvice

    Invest in your human capital. Develop a culture of opportunity and a structure for promotion from within. Retaining top talent will improve morale, nurture a sense of community, and benefit clients. Along with this, cease outsourcing. Particularly for positions that have any impact on the client side of the business.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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