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State Street Reviews

Updated 20 January 2018
3,162 reviews

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3.1
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State Street President and CEO Joseph L. Hooley
Joseph L. Hooley
1,054 Ratings

3,162 Employee Reviews

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Pros
Cons
More Pros and Cons

  1. "Senior Portfolio Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Portfolio Analyst in London, England
    Current Employee - Senior Portfolio Analyst in London, England
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Flexible working hours. Great benefits package. Ability to study. Culture is very inclusive and many different working groups. The people working there . Approachable management

    Cons

    Lower salary than many similar companies in the same industry. Less holiday allowance each year.


  2. "Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at State Street full-time

    Pros

    Good expat contracts, some great managers.

    Cons

    Glass celling, limited automations, global firm

    Advice to Management

    More innovation, listening to lower management, better understanding of market


  3. "SSGA / IMS is NOT a meritocracy"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Portfolio Analyst in London, England
    Current Employee - Senior Portfolio Analyst in London, England
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    -Good exposure to fund transitions and close contact with the portfolio managers so you learn quite a lot to begin with

    Cons

    -Salaries significantly below market rate
    -The team purposefully kept understaffed by 2-3 members of staff to save money
    -Long hours needed because of the above and no reward for it - either verbal or in terms of remuneration
    -Bonuses are appalling - less than 5%
    -Promotions and pay rises are made based on years of service rather than how good somebody is or how hard they work. SSGA is NOT a meritocracy! This is not an efficient way to run a business - it incentivises those who are not very good and who work 9-5 to stick it out for the long haul while talented individuals become disgruntled and leave as they are under-appreciated
    -I was given a (long overdue) modest pay rise due to several senior members of staff leaving in a short space of time and my workload effectively doubling - this pay rise took 3 months to come into effect which doesn’t make an overworked employee feel valued!
    -SSGA does not invest in good systems so everything takes longer than it should, which again, means you have to stay late to compensate for them. SSGA save money on the systems and save money on not paying overtime...and it’s not like the bonus makes up for it
    -No centralised Xmas party - on the rare occasion where there is one, you’ll have to pay £15 towards it.

    Advice to Management

    -Acknowledge good members of staff and stop the talent flight!
    -Either invest in good systems or pay staff better to compensate. Ideally both but you can’t have everything


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  5. "good company to work for and with"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    a real good company yes

    Cons

    there are no cons there


  6. "Vice President"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President Operations in London, England
    Former Employee - Vice President Operations in London, England
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at State Street full-time (More than 10 years)

    Pros

    Name, global, potential, people, locatikn

    Cons

    Salary, unclear mgmt strategy, cost cutting, hours,

    Advice to Management

    See cons


  7. "Organisational Design"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Allow you to direct the role

    Cons

    There was little support when needed and poor decision making left leadership wanting.


  8. "Good place to work but depends on the team"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at State Street full-time

    Pros

    Big company, multi-cultural, important number of associations every employees can join, good place for networking, challenging environment. Possible to develop new skills thanks to internal trainings (if your managers are willing to let you do it) and possibility to work on diversified tasks depending on the team.

    Cons

    Not the best communication although they try very hard to improve. It just doesn't work. Depending on the team, you may not feel valued. Complex hierarchical organisation, too many people at senior management level/VPs in some teams with little number of people working on deliverables Rewards are not good regardless of long hours spent daily in the office to prepare deliverables with tight deadlines. This can create a bad atmosphere, staff can be openly not motivated, and senior management does not show any concern about it as if they don't care.


  9. "Good experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Intern in London, England
    Former Employee - Intern in London, England
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Relatively short working hours, great people.
    My team was willing to help and giving me advices during my internship.

    Good life/ working balance.

    Cons

    Lack of HR, hr is mainly outsorced in India or Spain.
    No training programmes during the internship and I found difficult to communicate with them.

    No gym in london office.


  10. "State Street"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in London, England
    Current Employee - Associate in London, England
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    good place to start, learning opportunities

    Cons

    low salary, hard to progress

    Advice to Management

    reconsider business plans


  11. "Edinburgh State Street - Awful place"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate in Edinburgh, Scotland
    Former Employee - Associate in Edinburgh, Scotland
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Nice canteen. That’s all! The canteen will be gone once they move to Quatermile.

    Cons

    Quite an unpleasant place to work. It’s an American company so there is an underlying belief that you should hand your life over to them and work extra hours for free. Oh and the pay is awful. Management are aggressive if you don’t work extra hours for free. You really need to have no self respect to work here. The mangers are all Yes men who push the bullying culture down onto the staff from above.
    I've only seen one other company that does such a bad job of training people. It is pretty much non existent. As a result mistakes will happen, but here is the important point - that is not the managers fault! That is your fault for not being psychic.

    Advice to Management

    People have lives. Pushing them to work long hours for free is despicable and immoral. Grow a backbone and stand up to the senior management who push this agenda. Take the time to train people carefully and thoroughly. Drop the blame culture. You will have a much lower turnover of staff as a result.


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