State Street

www.statestreet.com

State Street Reviews

Updated 31 January 2015
Updated 31 January 2015
1,444 Reviews
2.8
1,444 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
468 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.  

    Associate 2

    • 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 8 years)

    Pros

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

    Cons

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

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2.  

    Excellent company if you are willing to drive your own career

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Project Manager in Edinburgh, Scotland
    Current Employee - Project Manager in Edinburgh, Scotland

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

    Pros

    Global company with excellent progression and exposure opportunities

    Cons

    Generally not the highest market payer

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Good job for graduates/people without former experience

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

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

    Pros

    A lot of trainings available, competitive salary for graduates

    Cons

    Repetitiveness of daily work and given tasks

    Advice to ManagementAdvice

    Be more open to new solutions/ideas

    Recommends
    Neutral Outlook
    Approves of CEO
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  5.  

    good company, nice atmospheric

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at State Street

    Pros

    learn a lot from very experienced staff

    Cons

    salary is low, don't support professional qualifications

    Advice to ManagementAdvice

    appreciate people with good academic background and good degree more!

  6.  

    state street based in Boston MA

    • 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 a year)

    Pros

    The company has a strong brand equity

    Cons

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

    Advice to ManagementAdvice

    They should help improve the work-life balance

    Recommends
    Neutral Outlook
    No opinion of CEO
  7. 1 person found this helpful  

    Great Place to work compared to larger Investment banks

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

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

    Pros

    Good Culture and people. Good work life balance.

    Cons

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

    Advice to ManagementAdvice

    ...

    Recommends
    Neutral Outlook
    Approves of CEO
  8.  

    no real accounting, just data input

    • 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

    great learning curve, easy to move teams

    Cons

    hard work doesn't really get appreciated

    Doesn't Recommend
    Positive Outlook
  9.  

    Huge varience of workforce accross all floors

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Associate in Edinburgh, Scotland
    Current Employee - Senior Associate in Edinburgh, Scotland

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

    Pros

    There is a lot of change/movement going on in the firm from outsourcing work to 'Centres of Excellence' which in the short term may provide oppertunities to travel.

    There are a lot of smart intelligent people to learn from.

    Cons

    Roles are being 'dumbed' down due to outsourcing of work to COE's.
    There is an unfair work distribution within teams at various levels across the floor - those who can or show initiative DO most of the work, those who cant get sidelined and forgotten about. At the end the difference in rewards between the two are almost indistinguishable at present.

    People are promoted internally to fill positions, rather than showing merit.

    Regardless of your work, expect to get an average rating on your yearly performance review. Dont bother to ask what you could have done to have got the next level, as it would only result in friction between yourself and your manager.

    Employees are generally not rewarded for their work - for example bonuses are not increased for helping meet company targets, such as reducing the number of breaches, which helps reduce compensation payments, and increase company profit - should all of this go just to the shareholders?

    Advice to ManagementAdvice

    Annual Performance Reviews -Scrap the 1-5 performance rating system. If you want such a system, then expand and make this 1-10. Encourage workers to help the business by setting clear performance goals,with each grading marker defined in a transparent fashion.

    Bonuses - To get around the whole 'poor bonus' issue, would it be better to offer employees a discount share purchase scheme, or a bonus in form of shares? That way all employees are directly offered a fair return/reward for their hard work.

    Promotions - Do not fill roles internally out of need, but merit. If internal candidates are not yet up to par, then look externally.

    Work Equality - Monitor working hours(building sign in/out times of staff), and see the differences of employees at each level. Use this to look at re-allocating resource.

    Recommends
    Neutral Outlook
    Approves of CEO
  10.  

    Alright

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

    I have been working at State Street

    Pros

    Friendly staff and opportunities to move within the firm.

    Cons

    Lack of quality training and a genuine interest in development, unmotivating surroundings, slow moving decisions making and corporate governance issues, too much office politics and way too Boston-centric in outlook, culture, etc.

    Advice to ManagementAdvice

    Remove redundant layers of management, be brave in positioning the firm for the future instead of taking baby steps forward

    Approves of CEO
  11.  

    Varied, interesting and appreciated

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Vice President in Edinburgh, Scotland
    Current Employee - Vice President in Edinburgh, Scotland

    I have been working at State Street

    Pros

    State Street actually reward performance and don't just say they do. State Street appreciate hard work and make you feel valued. There I also a good culture and work life balance.

    Cons

    State Street is quite bureaucratic and decision making can be slow

    Recommends
    Approves of CEO

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