State Street Reviews

Current Employee – been working at State Street full-time for more than 7 years

Pros – Locations close to public transportation
Work from home access but needs to be approved in advance

Cons – Culture has become outsource, outsource, outsource
Lack of proper training programs..mostly online training that's not really job related
Work is being outsourced to departments that make errors and don't take responsibility
Lack of career roadmap..To advance, it's based on being buddy-buddy with management and talking about sports rather than being based on an individual's credentials
Low salary compared to competitors
Annual reviews/raises aren't based on employee performance but a mathematical formula based on employee's annual earnings..If your salary is too low based on the company's mathematical equation, most likely you wil receive little or no raise
Raises for 2012 nonexistent except for upper management..Bonuses not as much as the past
Reward system was discontinued with nothing to replace it
Employee feedback isn't taken seriously

Advice to Senior Management – Don't blame managers for the company not handing out raises...Hard work goes unnoticed..If employees were appreciated more and paid fairly compared to other companies, maybe there wouldn't be so much employee turnover.Listen to the employees that are keeping the company afloat rather than force change and ideas upon them that are unproven and untested

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

Current Employee – been working at State Street full-time for more than a year

Pros – Financial market oriented, training, CBD location

Cons – long hours work, deadlines, analytical

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

Former Employee – worked at State Street

Pros – good place to start, to see how a corpotation works
many trainings, both technical and soft skills

Cons – repetitive work
limited career opportunities in a company

Current Employee – been working at State Street full-time for more than 7 years

Pros – Its a Job, provides experience

Cons – Long hours, crap pay, horrible compensation

Advice to Senior Management – spread the wealth and give employees more incentive to work hard

No, I would not recommend this company to a friend

Current Employee – been working at State Street full-time for more than 3 years

Pros – Great community presence, volunteer services, employee appreciation events.

Cons – Terrible pay, terrible training, bad management,

Advice to Senior Management – Better training, half of the people who have been hired within the last 2-3 years have no idea what they are doing and why.

Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

Former Employee – worked at State Street full-time for more than a year

Pros – 1. The wealth of knowledge is there, ask the right questions. Ask at all.
2. Young staff to build good network for the future
3. The brand and experience has led to good jobs outside of State Street

Cons – 1. Long hours - you'll become more resilient to long hours and high stress.
2. Low Work Life Balance - your value of time will increase and you'll find ways to waste less of it

Advice to Senior Management – Nurture your employees. You already know this.

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

Former Employee – worked at State Street full-time for more than a year

Pros – Good benefits
Simple job functions, don't need to think much after learning processes
Relatively little job stress
Friendly work environment
Solid resume builder
Will hire people with little work experience
CEO and Senior Vice President conduct quarterly "Town Hall" style meetings where various issues within the company at the corporate and office levels are discussed

Cons – Job is very repetitive
Very low salary for the industry, even up to the Officer level
Relatively easy to get complacent within the company

Advice to Senior Management – I don't blame direct management for low salary. Knowledge is power, management should focus more on explaining what the processes are doing, rather than just simply forcing you to memorize the proper steps.

No, I would not recommend this company to a friend

Current Employee – been working at State Street

Pros – Benefits, Great vacation package and relaxed

Cons – Salary
a little competive, but if you show interest, you will be promoted

Current Employee – been working at State Street full-time for more than a year

Pros – If you want to work lots of overtime just for the money, Nice Views from canteen and good spot when the tall ships arrive

Cons – Too much workload and long hours

Advice to Senior Management – Concentrate on the new hires. The turnover in staff is crazy fro new recruits

No, I would not recommend this company to a friend

Current Employee – been working at State Street full-time for more than a year

Pros – You get financial services experience. Only take an offer if you absolutely cannot get anything else. They pretty much hire anyone who can count these days, and even some that can't.

Cons – AWFUL PAY and extremely high turnover. A college graduate ( some people with masters) shouldn't have to pinch pennies or qualify for food stamps. The pay here forces you to do that. People usually stay for a year and leave to something better.

Advice to Senior Management – Take some advice it's quite simple: quit hiring every person who walks in for an interview and give the current employees more responsibility and more pay.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company