State Street

  www.statestreet.com
Work in HR? Unlock Free Profile

State Street Reviews

Updated Jul 21, 2014
All Employees Current Employees Only

2.7 1,211 reviews

51% Approve of the CEO

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

Joseph (Jay) L. Hooley

(377 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)

1,211 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    State Street is a Giant Corporation

    Fund Administrator (Former Employee)

    ProsEntry level exposure to specific industry area

    ConsWork environment requires you to watch your back more than get work done properly.

    Advice to Senior ManagementManagement sets the "tone at the top", which is apathy and stagnation.

    No, I would not recommend this company to a friend

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

    1 person found this helpful  

    Do not take a job with them

    Financial Analyst (Current Employee) London, England

    ProsGood work life balance.
    Good training.

    ConsThe salary is crap and when you get promoted you are told that we cannot give you anymore as we just don't have the money but please take on the extra responsibility and extra hours for nothing because you should just love to work for us !!
    There isn't much in terms of progression.

    Advice to Senior ManagementBring the salary to market level. The reason why everyone is leaving. Then you just end up paying for recruitment costs and having to pay the new person the market rate and then have the learning curve which you could've avoided if you just paid the current employee the right wages.

    No, I would not recommend this company to a friend

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

     

    Tremendous Changes underway. Company evolving. Can old managers lead in this new regime, time will tell. I hope so.

    Vice President (Current Employee) London, England

    ProsA 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.

    ConsTransformation 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 Senior ManagementEmployees 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.

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

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Not yet in the 20th century ( never mind 21st!)

    Vice President (Current Employee) London, England

    ProsThere are some genuinely good people in State Street if you look hard enough to find them.

    Paid time off to participate in community/charity activities

    ConsRemuneration is lower than the market so the good people don't stay long
    Hierarchical and status driven
    Culture of fear
    It is career limiting if you challenge senior management
    Lots of egos that you need to pander to
    Middle aged white grey male dominated organisation
    Relationships with senior management count for more than ability or results delivery
    Lack of investment in systems and automation - inconsistent processes, policies and authority level

    Advice to Senior ManagementHire some fresh external top talent across the whole leadership levels of the organisation then retire and let them get on with it.

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

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

     

    Associate 2

    Anonymous Employee (Current Employee)

    ProsGood place to get experience & gain knowledge before moving onto some where else. Good cafeteria!

    ConsOK pay, very poor bonuses compared to industry average, lack of opportunity for promotion.

    No, I would not recommend this company to a friend

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

     

    Excellent company if you are willing to drive your own career

    Project Manager (Current Employee) Edinburgh, Scotland

    ProsGlobal company with excellent progression and exposure opportunities

    ConsGenerally not the highest market payer

    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
    • Approves of CEO

     

    Good job for graduates/people without former experience

    Anonymous Employee (Former Employee)

    ProsA lot of trainings available, competitive salary for graduates

    ConsRepetitiveness of daily work and given tasks

    Advice to Senior ManagementBe more open to new solutions/ideas

    Yes, I would recommend this company to a friend

     

    good company, nice atmospheric

    Anonymous Employee (Current Employee)

    Proslearn a lot from very experienced staff

    Conssalary is low, don't support professional qualifications

    Advice to Senior Managementappreciate people with good academic background and good degree more!

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    state street based in Boston MA

    Anonymous Employee (Current Employee)

    ProsThe company has a strong brand equity

    Consyou will always have to work long hours like every other job

    Advice to Senior ManagementThey should help improve the work-life balance

    Yes, I would recommend this company to a friend

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

    1 person found this helpful  

    Great Place to work compared to larger Investment banks

    Assistant Vice-President (Former Employee) London, England

    ProsGood Culture and people. Good work life balance.

    ConsBased in Canary Wharf, some management stuck in its ways.

    Advice to Senior Management...

    Yes, I would recommend this company to a friend

Worked for State Street? Contribute to the Community!

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