State Street

www.statestreet.com
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State Street Reviews

Updated 5 March 2015
Updated 5 March 2015
1,493 Reviews
2.8
1,493 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
483 Ratings

Review Highlights

Pros
  • Good work life balance with potential to work from home or create a flexible schedule (in 132 reviews)

  • The flex work schedule, most people have an option to work from home twice a week (in 65 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 42 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 57 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Fund Acccounting

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at State Street

    Pros

    Working Environment. Easy to approach Management. Lots of holiday days

    Cons

    Long hours, Mid-tier pay package

    Recommends
    Positive Outlook
  2.  

    Good experience - average salary

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Associate in London, England
    Former Employee - Senior Associate in London, England

    I worked at State Street full-time (more than 5 years)

    Pros

    It does give you a good work life balance if you play your cards well. Salary is safe. There some very good people working there but not all of them will stay for long.

    Cons

    It is too IT oriented, if you let them they squeeze as much as they can. Progressing is not easy.

    Advice to ManagementAdvice

    The higher management should be really looking into who is adding value within the chain. A lot of middle management does not have the skills required.

    Recommends
    Neutral Outlook
    Approves of CEO
  3.  

    Great Start to Your Career...BUT...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Client Service Representative in London, England
    Current Employee - Client Service Representative in London, England

    I have been working at State Street full-time (more than 5 years)

    Pros

    Wealth of online training resources
    Relaxed atmosphere
    Nice restuarant
    Usual benefits including Private Medical Insurance, BUPA health screenings, childcare vouchers, plus high street shopping vouchers,

    Cons

    Reluctance to promote
    Low salaries
    Non-exsistent pay-rises
    Low bonuses
    Too many layers of management

    Advice to ManagementAdvice

    Show that you value your employees and then (shock horror) they won't want to leave!
    Get rid of 50% of management - there are too many and they are completely unnecessary.

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5.  

    Fund Accounting Intern

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at State Street

    Pros

    Office culture
    Exposure to senior members of staff

    Cons

    Compensation
    HR department hard to get in contact with
    I left in August 2014 and still haven't received a P45
    IT systems a shambles

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    A cost centre and a life of constant cuts

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at State Street full-time (more than 3 years)

    Pros

    Quick progression and increased responsibility. This is a great place if you're lucky and you want to push on. They're more than happy for people to step up as there's nowhere near enough people to cope with the workload.

    Cons

    Pay is fairly terrible and everything is your problem, management don't want to know. In an industry that is suffering further cuts and numerous outsourcing projects State Street just don't want to be in the Fund Accounting business anymore, regardless of it actually being their bread and butter.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  7.  

    Good opportunities in a variety of roles/locations.

    Current Employee - Vice-President, Finance in Edinburgh, Scotland
    Current Employee - Vice-President, Finance in Edinburgh, Scotland

    I have been working at State Street

    Pros

    Good opportunities in a variety of locations.

    Cons

    Regulation and the admin around it.

    Advice to ManagementAdvice

    I have no advice for management.

  8.  

    Good place to work at, even if you're new to finance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in London, England
    Current Employee - Anonymous Employee in London, England

    I have been working at State Street full-time (more than a year)

    Pros

    Open to new ideas, provide training opportunities, discuss your career path

    Cons

    Not easy to get promoted, takes several decision layers and might take a while, Lots of red tape

    Advice to ManagementAdvice

    To think more carefully where to allocate the budget to. While some initiatives are brilliant and worth doing, others seem a waste of time and money.

    Recommends
  9.  

    Internship at State Street

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Intern - Global Markets Intern in London, England
    Former Intern - Global Markets Intern in London, England

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

    Pros

    Very friendly environment to work in

    Cons

    Things can be a little slow to move during interview process

    Recommends
    Positive Outlook
  10. 4 people found this helpful  

    If you have worked anywhere else this will be worse

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in London, England
    Former Employee - Anonymous Employee in London, England

    I worked at State Street full-time (more than a year)

    Pros

    They pay you each month (nowhere near the market rate but they do pay you!)
    "Welcome to State Street" seems a nice thing to say but it is the phrase they use to new hires when the new hire questions the ludicrous ways that State Street does things! Translates to "I know its absolutely ridiculous but don't even bother thinking you're going to change anything."

    Cons

    No strategy.
    Unbelievably status oriented. Don't bother having any ideas about how you could improve things- it's only your boss who can have ideas. And don't try arranging a meeting with someone of a higher "bank grade" or sending them an email. They won't respond.
    Dictatorial
    Culture of presenteeism. You need to be seen to be in the office and for extended hours. It's not about what you deliver.

    Advice to ManagementAdvice

    Give it all up and sell the business to someone who knows how to run a business.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    Entry level position

    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at State Street

    Pros

    You can almost find every kind of position you want to start a career in finance, through the three main divisions of the company.

    Cons

    Low salary compared to other corporations in the industry. Also not very sure about how easy it is to progress within a certain business unit in the company.

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