There are newer employer reviews for State Street

 

IT Subject Matter Expertise - gone soon

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

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

Pros

Excelent work-life balance, depending on manager. Supportive and kind co-workers.

Cons

Continuously looming layoffs with not enough communication from management. Very Low morale. Bleak future outlook.

Advice to ManagementAdvice

Rethink the 'Strategic Partering' cost-saving idea, as the service and quality to clients is suffering. The subject matter expertise and critical thinking/analysis skills gained by experienced SSC employees over the course of their tenure here - and required in order to maintain top-notch service on complex functionality - have not been captured in the skills transfer to our strategic partners. Poor skills transformation model: complicated tasks and complex functions performed by several experienced SSC employees have been transferred to a single Wipro employee who is overloaded and at risk for errors. Performance, quality, and the company's reputation are at risk.

Doesn't Recommend
Negative Outlook
Disapproves of CEO

1324 Other Employee Reviews for State Street (View Most Recent)

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  1.  

    Good place to gain experience or retire!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Business Analyst in Irvine, CA (US)
    Former Employee - Business Analyst in Irvine, CA (US)

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

    Pros

    Good entry level place to get experience. Good place to retire if you have no ambition and don't care about career growth.

    Cons

    Salary increases are pathetic. No opportunities for growth. Management is always looking to give you a rating of 3 or less so they can avoid paying you a decent compensation increase. If you are liked by your manager, you get flexible work at home. If you not liked by management, you have to come to work.
    Like to outsource to India, then hire the FTE's back as temp assignments at lower pay and no benefits when outsourcing fails! Pathetic...

    Advice to ManagementAdvice

    How's outsourcing to India going? Guess you got your fat bonuses eh? Can't believe PIMCO is paying for this pathetic mess.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2. 1 person found this helpful  

    Conservative and Complacent

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

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

    Pros

    The SSGS team is very kind. Personally, I received a good amount of work that really added value. I felt as though I was a valuable part of the team and that I wasn't just being paid to sit and twiddle my thumbs. Most of my other intern friends can't say the same. The atmosphere is really relaxed, and my team was very helpful.

    Cons

    As a whole, I got the feeling that although State Street wants to become a more innovative company, its culture is still very conservative. Its younger crowd is ready for change, but it seems the older generation is very complacent with old processes because they work. It is recognized that there is an obvious need for change and modernization to keep up with the moving market, but the main problem standing in the way of improvement is the acknowledgement that there are many barriers, and the cautionary steps taken rather than the determination to move forward despite all obstacles.

    Advice to ManagementAdvice

    I think you should listen to the new recruits more. Recent graduates are taking many courses that can really add value in regards to a fast growing, changing market. Just because it works, doesn't mean it can't be better. Strive for better and faster.

    Recommends
    Neutral Outlook
    Approves of CEO
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