State Street

  www.statestreet.com
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State Street Reviews

Updated Jul 22, 2014
All Employees Current Employees Only

2.7 1,213 reviews

51% Approve of the CEO

State Street President and CEO Joseph (Jay) L. Hooley

Joseph (Jay) L. Hooley

(378 ratings)

40% of employees recommend this company to a friend

Review Highlights

Pros
  • Company has good benefits and is looking to improve work/life balance for employees(in 118 reviews)

  • Many employees can work from home a few days a week if their responsibilities allow them to(in 55 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach(in 36 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you(in 47 reviews)

1,213 Employee Reviews
Relevance Date Rating
in
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
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    • No Opinion of CEO

     

    State Street- Not the best; Not the worst

    Business Analyst (Current Employee) London, England

    ProsCompetitive Pay
    Very large organisation with scope for movement across investment management services and beyond
    Friendly, relaxed environment to work in

    ConsAs a long term contractor, there can be limited opportunities to develop skills outside of those used in day to day functions

    Advice to Senior ManagementUpper management need to understand the day to day implications of their ruthless cost cutting initiatives of the past few years

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Potential to be so much more

    Anonymous Employee (Current Employee)

    ProsRecent upturn in client focus due to market downturn. Overdue but the opportunity to start focusing on quality rather than 'ticking the boxes' is positive. Watch this space.

    ConsFragmented departments. Seems a bit like mission impossible at times, unless a solution path to a problem is clearly defined they all seem to disavow all knowledge or ownership.
    Over abundance of middle management & VPs -hampering effectiveness.

    Advice to Senior ManagementSlow down with the outsourcing! The middle management & VPs that are executing it are flying by the seat of their pants & not planning out the details. Keep the focus on the client & what they need, not just the SS bottom line.

    • Work/Life Balance
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    • No Opinion of CEO

     

    State Street - lots to learn

    Operations Associate (Current Employee) City of London, England

    ProsThere is a good mix of people, from all walks of life. From my experience I'd say that 90% of my colleagues are an absolute pleasure to workwith, they work hard and during times when the chips have been down it's been the morale of my colleague and everyone pulling together that has got everyone through it. State Street is also a good place for opening doors for peopl who have had no experience or exposure to the world of finance. To be honest the good points are easily counted on one hand - on a plus note ,they are "trying" to improve things.

    ConsWhere do I start...number one downside is the systems!!!! You find you spend most of your day shouting, yelling screaming at your computer. For a company which prides itslef on being the biggest lender, it could do whole lot more work on system developement sand improvements. Another major downside is upward progression - there is very little, you often feel that you have to wait for someone to move up before any kind of opportunity occurs for you to progress, I know this view is shared by many on my team - and as it continues year after year, it increases resentment.

    Advice to Senior ManagementIf a good is done well, you should show some form of appreciation or gratitude. Sometime all it takes is a "thank you"!!!

    No, I would not recommend this company to a friend

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    • Work/Life Balance
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    Big enough to slowly drown in, unless you die of frustration first.

    Fund Analyst - Trustees (Former Employee) London, England

    ProsThe size of the company means there are opportunities to move internally both domestically and internationally.

    ConsState Street is one of the worst companies I have worked for in terms of employee benefits and perks. The company is extremely aggressive with cost-cutting to the detriment of its' employees.

    Advice to Senior ManagementStop outsourcing non-core activities (facilities, IT etc) to the detriment of service quality. Be reasonable with salaries.

    No, I would not recommend this company to a friend

    • Culture & Values
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    good people and good compay

    Associate (Current Employee) Hangzhou, Zhejiang (China)

    Prosgood people and good compay

    Consgood people and good compay

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Great Company

    Fund Controller (Former Employee) Boston, MA (US)

    ProsI had previously work in the AIS Real Estate Performance Measurement area and always impressed at how they continued to search and improve ways to service their clients.

    ConsUpper management wasn't always forthcoming on how they felt about certain business groups.

    Advice to Senior ManagementI would recommend having a VP level person running a business group as the lower levels of management don't always have the experience level to properly service the clients. That level is to close to the work many times and can lose sight of what their clients are really looking for.

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

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    Job..

    Project Manager (Current Employee) Boston, MA (US)

    Prosflexible flexible flexible flexible flexible

    Consbusiness lacks discipline business lacks discipline

    Advice to Senior Managementimprove your FT employee quality through better HR

    No, I would not recommend this company to a friend

    • Culture & Values
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    • Senior Management
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    • Approves of CEO

     

    IT Dept Summer Intern

    Intern (Former Employee) Boston, MA (US)

    ProsVery friendly people. Supervisor took time out of her schedule to get me up to speed and made sure I knew what I was doing.

    ConsSome people may find it boring. I personally always had work to keep me occupied. May not understand the a lot of terms even after the internship ends.

    Yes, I would recommend this company to a friend

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Awesome place to work

    Assistant Vice President (Current Employee) Los Angeles, CA (US)

    ProsExcellent benefits, great team to work with.

    ConsNone that I can think of

    Advice to Senior ManagementNone

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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Not a very good outlook for future management

    Accounting and Pricing Analyst, Senior Associate (Current Employee)

    ProsGreat people and relaxed work atmosphere. It is probably a good place to start your career but not a good place to stay.

    ConsThey have moved to segmented business model where it is hard to understand the purpose of your job. This will lead to poor unknowledgeable management in the future. It also seems like they are trying to move as much work as they can to india. In the future they are going to have to find managers from other companies in order to have people that know what they are doing.

    Advice to Senior ManagementBetter training so employees will understand the big picture!

    No, I would not recommend this company to a friend

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