State Street Employee Reviews

3.5
Overall rating
Based on 1,995 reviews
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Found 1,634 reviews matching the search See all 1,995 reviews
3.0
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good place
Valuation Analyst (Former Employee) –  New York, NYSeptember 20, 2018
Good place to learn things. I used to be valuation analyst, worked with PhD level quants and they knew things. Some things i learned too from them and on my own.
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3.0
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It is a difficult company to work in
Assistant Vice President (Current Employee) –  Quincy, MASeptember 18, 2018
It used to be a great place to work however in the last 10 years morale has been gradually declining. Ever since the 2008 financial crisis there has been more scrutiny, more admin overhead and a growth in outsourcing making it more difficult to get things done
Pros
Salary and benefits
Cons
24/7 work environment
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1.0
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Low salary
Accounting Operations (Former Employee) –  Quincy, MASeptember 18, 2018
The salary is low and stays low no matter how hard you work. The work increases each day with more and more responsibilities. Your schedule is always the same, no flexibility.
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4.0
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State Street Hires anyone from local Universities
IT Audit Intern (Former Employee) –  Boston, MASeptember 18, 2018
The company itself has an amazing global reputation but locally, everyone knows the hiring process is a big joke. Employers literally accept any co-op/intern who is breathing. Unless you are a foreign student or expat, there is always some kinda of position for you at state street so you can slam that name on your resume and be super confident although you only push buttons at work for 8 hrs a day.
Pros
Nice building and big brand name
Cons
You don't learn anything useful
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2.0
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poor culture
Compliance Officer (Current Employee) –  Stamford, CTSeptember 17, 2018
Not a collaborative environment. Work is done in silos. Technology is behind. Not opened to process improvement. Hard to navigate through the organization. Limited job advancement.
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3.0
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IT and Outsourcing
Client Service Officer (Current Employee) –  Quincy, MASeptember 16, 2018
Benefits are good but outsourcing has sent many jobs overseas. Four of the last five positions held within STT have been outsourced. STT has directed its resources to IT and saving money by sending the jobs overseas.
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4.0
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State Street
Collateral Management, Assistant Vice President (Current Employee) –  Irvine, CASeptember 16, 2018
State Street has helped me develop my career as a young manager and has aided in my development in the industry of finance. It has been an amazing experience thus far.
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2.0
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Not a fun place to work
First Line Risk Specialist (Current Employee) –  Quincy, MASeptember 14, 2018
The harder you work, the less you are appreciated and forget about being recognized. Employee benefits are lacking to nil. Worst part is the toxic work environment.
Pros
Great experience
Cons
Terrible culture, lack of benefits, low pay, no employee recognition
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4.0
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State Street - Good, solid place to work
SECURITY ADMIN MGR, DIRECTOR IN IT (Current Employee) –  Kansas City, MOSeptember 14, 2018
I manage a 3rd shift/overnight US Call Center team
Needs better HR assistance for non-traditional hours workers
Good discounts and work/life balance is promoted
I really enjoy working with international employees and co-workers
Our team is a very collaborative work culture
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1.0
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thought about jumping off the roof.
Project Manager/Business Analyst (Former Employee) –  summer stSeptember 13, 2018
thought about jumping off the roof.
life sucking junior manager that knew everything.

Please don't hire me to convince me how great you are. yes you are an expert at reading body language and figuring people out.


If you have to try to convince me how smart you are, are you really that smart?


My first week on the job I was thinking, where are all the adults?
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4.0
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Lots of opportunities, not as much competence
Vice President, Vendor Risk Management (Current Employee) –  Boston, MASeptember 13, 2018
State Street offers a ton of opportunities to learn new skills, join new groups, and even change careers mid-stream. Their non-salary benefits are fantastic and their focus on work/life balance is second to none.

Their compensation lags behind other financial companies unless you're an EVP. Looking on job sites, you can expect to see job openings similar to the role you have at State Street paying 15-25% more than what SST employees earn.

The mission drives everything; however, several huge fines by regulatory bodies and being caught flat-footed on several pending regulatory initiatives means that the company rams through new programs without the slightest thought as to how to most effectively build a division/team. Because of this, new policies are expected to be implemented without training, oversight, testing, etc. Their Third Party Risk Management (TPRM) initiative is a perfect example of this. The program has been around for three years and the people running it are as lost today as they were then, to the point where they've had to hire outside consultants to fix it.

Everyone is out to save themselves which leads to a lack of meaningful mentorship and guidance by management; as long as you can make them look good, that's all they care about. No weight is put on making sure the job is done right as long as it's fast and looks good from the outside. State Street's senior management team is a clunker with a new paint job.
Pros
Work/life balance, parental leave, discounts through partnerships
Cons
ineffective management, inability to plan meaningful change, lower compensation
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4.0
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State Street was a solid work experience
Bank Loans Specialist, Associate 1 (Former Employee) –  Kansas City, MOSeptember 13, 2018
I enjoyed the department I worked in and would be ok working at the company again. I worked in the Bank Loans department for three years but would want to work in a different department to gain a different set of skills and knowledge if the opportunity to work there again occurred.
Pros
I worked on awide variety of bank loan funds, I learned different programs, learned about the iimpact of the activity on the loans I oversaw.
Cons
Often everyone complained about the compensation being too low for the amount of work we had to do, I would say the con is having too much work to do in a short timeframe on some days in the month, THe reporting software was slow and crashed during busy periods
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3.0
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Corporate, bureaucratic, rigid
Quality Assurance Engineer (Current Employee) –  Boston, MASeptember 12, 2018
The work itself is fine but there are an excessive amount of processes that need to be followed. Meetings are abundant and they are run poorly a lot of times. People there are incredibly talented. Besides possessing large amounts of domain knowledge and technical skills they are very compassionate and self aware. It made for an environment to improve technical skills while learning about the domain specific knowledge.Management over promises frequently, and promises are binding at State Street. To compensate for too many promises they add more people or they have existing people work way more than reasonable. The workplace is very traditional office/bank culture. Dress shirt and dress pants are worn by almost every employee there. The hardest part of the job is being put down for missing something or not being able to finish something to completion because the priorities are not well defined. You can do 95% of a great job, but the 5% will eclipse the 95%. The enjoyable part of the job is the technology that is being used. It is truly interesting.
Pros
Generous vacation time, decent benefits, great corporate citizenship initiative
Cons
Very corporate, hard to get things done, poor culture
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4.0
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challenging
Portfolio Administrator (Former Employee) –  Quincy, MASeptember 12, 2018
Portfolio Accounting
Responsible for Reporting Daily Cash Balances to clients.
Cash Reconciliation
Trade Processing
Expense Processing
Process Cash Wires
Pros
Na
Cons
Na
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1.0
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Woklife Balance
Associate 1 (Current Employee) –  Boston, MASeptember 11, 2018
The issue with State Street is that they're under staffed and they'd rather leave people of color or better yet minorities in roles for years while promoting everyone around them.
Pros
discounts are great
Cons
it's not worth it mentally
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3.0
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Good for a period of time
Assistant Vice President (Former Employee) –  Boston, MASeptember 10, 2018
State Street can be a good temporary option. They have a poor culture, where people fear so much for their jobs. It's not a very friendly place for work
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2.0
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training
Fund Accountant Associate (Former Employee) –  Kansas City, MOSeptember 10, 2018
While working at state street there was a severe lack of training along with willingness to train. While the company promotes a strong culture the actual team environment does not support the culture
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5.0
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Productive, fun work environment
Global Operations Processing Analyst (Current Employee) –  Hadley, MASeptember 7, 2018
I learned how to process complex transactions and communicate with client/different teams from around the world.

The management lacked structure and training for interns but our co-workers were very eager to teach others how to perform the job correctly.

The hardest part of the job was getting experience to new tickets but once you have seen a large variety of situations you understand how you should respond to missing/incorrect client data and other errors.
Pros
Enjoyable environment, fast-paced
Cons
Poor management
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3.0
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Fine place to work
Functional Specialist 2 (Current Employee) –  Quincy, MASeptember 7, 2018
Went into work and 12 PM and left between 8 PM- 9PM. Learned how to analyze data for Nav oversight. Had monthly reporting that had to be run and sent out to clients. Management was very good when I first got there and went downhill in the last year and a half. Work place culture was fine.
Pros
Hours, flexibility on working from home
Cons
Lack of possible advancement within department and job security.
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3.0
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It was a good experience because like anything I was learning something new
Derivatives Analysts- Associate II (Former Employee) –  Boston, MASeptember 6, 2018
It is a hit or mis with management. If you get a good manager is determines how your experience will be when you get there. If you get bad manager, Just run. Job advancement is only applying externally.
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