HR (Former Employee) – New Jersey – September 20, 2018
It was a great job with mostly good people to work with. Unfortunately, our entire department was laid off including myself, after only 2 years of working there. That was a bummer. They were constantly giving people notice. On the bright side, they did have nice severance benefits. I was able to land a better job in a new industry with more pay so no hard feelings State Street.
I will say that the contract workers in building security were extremely rude and unhelpful. Ditto for building management which was also really hard to work with. They don't own the office buildings which make a big difference in terms of employee events and meeting space.
Assistant Vice President (Current Employee) – Quincy, MA – September 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
IT Audit Intern (Former Employee) – Boston, MA – September 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.
Client Service Officer (Current Employee) – Quincy, MA – September 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.
SECURITY ADMIN MGR, DIRECTOR IN IT (Current Employee) – Kansas City, MO – September 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
Vice President, Vendor Risk Management (Current Employee) – Boston, MA – September 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.
Work/life balance, parental leave, discounts through partnerships
ineffective management, inability to plan meaningful change, lower compensation
Bank Loans Specialist, Associate 1 (Former Employee) – Kansas City, MO – September 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.
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.
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
Quality Assurance Engineer (Current Employee) – Boston, MA – September 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.
Generous vacation time, decent benefits, great corporate citizenship initiative
Very corporate, hard to get things done, poor culture
Global Operations Processing Analyst (Current Employee) – Hadley, MA – September 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.
Functional Specialist 2 (Current Employee) – Quincy, MA – September 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.
Hours, flexibility on working from home
Lack of possible advancement within department and job security.
It was a good experience because like anything I was learning something new
Derivatives Analysts- Associate II (Former Employee) – Boston, MA – September 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.