Too much outsourcing, layoffs, and not enough compensation - Assistant Vice President State Street Employee Review

2.0
30 May 2014
Recommend
CEO approval
Business outlook

Pros

The flexibility to work at home is a huge part of why I am still with the company. However, sometimes working from home means no sick days ever and even longer working hours. I will say I do really like all of my co-workers, however the majority of them feel the exact same way I do.

Cons

The lack of merit increases and bonuses have contributed greatly to poor morale. We are not nearly compensated for the level of work we are performing, compared to other companies with similar job types. The outsourcing the past few years has gone through the roof and the employees have suffered because of this. The "help desk" is useless and forget about IT assistance anymore. The employees in these teams are even more disgruntled because they don't understand the process either. SSC has laid off so many valuable, experienced employees the past two years and they will never regain that level of knowledge, all to make a buck and cut costs to line CEO's pocket.

Explore other reviews about State Street

5.0
23 Jun 2026
Recommend
CEO approval
Business outlook

Pros

Own book runner and strategy. Good work life balance. Good working environment and nice people to work together

Cons

No much growth. Promotion to VP or higher is even forbidden based on company policy. Instead, ask people to move to different role. It doesn't make a lot of sense since it encourage people to find a new job.

2.0
21 Jun 2026
Recommend
CEO approval
Business outlook

Pros

The company has a great severence package. Unfortunately thats a pro because they are laying off workers every 3 months until most of operations are offshore. Decent 401k match and vacation.

Cons

Layoffs, pay is low. Return to office mandate.

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