State Street reviews

3.4

60% would recommend to a friend

(10,447 total reviews)
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Ronald O’Hanley

69% approve of CEO

57% positive business outlook

State Street has an employee rating of 3.4 out of 5 stars, based on 10,447 company reviews on Glassdoor which indicates that most employees have a good working experience there. The State Street employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

10K reviews
3.0
Nov 26, 2008
Recommend
CEO approval
Business Outlook

Pros

State Street is a recognizable name to put on your resume and it will definitely give you a good experience in the field of your choice. As far as I know, State Street is one of the best technologically equipped companies in the industry. Paid vacation is sufficient. People are nice.

Cons

Based on the information that I have from other places and from recruiters, other companies in the industry pay much more money for the same positions. I would expect State Street to offset lower salary with covering insurance benefits 100%, but they don't. As within any big company, your voice might not be heard by Seniors.

3.0
Nov 25, 2008
Recommend
CEO approval
Business Outlook

Pros

Clout in the Institutional Investment Management arena, heritage, status. Flexible about work/life and balance including sick time, etc. Good employees and overall a nice environment to work in. Health and welfare benefits are good.

Cons

No focus on career development programs or mentorship by management. Management is often less skilled, less experienced employees. Lower end of the pay scale, especially for employees that have worked their way through the corporate ranks. Communication about positive and negative happenings at the the firm is severely lacking, leading to uncertainty and furthermore unrest.

3.0
Nov 18, 2008
Recommend
CEO approval
Business Outlook

Pros

As a rather new intern at State Street, specifically a fund accounting and custody intern working in the former Investors Bank & Trust (IBT) division of State Street, I have found my experience to be helpful in opening my eyes to the world of financial services. As a part-time intern and full-time undergraduate student pursuing a Management degree, I found the internship helpful in several ways. Over the summer, I applied for the State Street Scholars internship program at my school, and having been accepted into the program, I happily ended my three-year part-time career in retail sales to pursue work related to my field of study. The internship not only paid more than any salary I had made prior, but I was also able to get some real hands-on experience in the workforce, work among recent grads in the same age bracket, and gain some inside knowledge about how State Street runs its rather successful business. The eight-month internship will allow me to train alongside fund accountants, officers, and managers, and insofar, I have found much of the staff both friendly and helpful in guiding me through their workday. By May, I, along with a number of my fellow students, will be expected to receive job offers for entry-level positions in the company, giving me a subtle edge over many undergrads with little or no experience in the financial sector. The work is fairly straightforward, employees are typically laid-back and amicable, and the atmosphere remains fairly casual throughout the year.

Cons

Obviously, and as many others have pointed out, the work at State Street can be described as anything but exhilarating. As a Management student, I find myself debating whether or not I would like to continue in an Accounting and Finance-related field, such as the one I am engaged with now. I find most of the fund accountants in my department, despite being friendly and easy-going outside of work, entangled in a monotonous web of cash projections, verifications, repetitive daily routines, and intense, 15-30-minute cycles of frantic work and boredom. The job, especially as an intern, can almost drive oneself to slumber, when there are few other tasks assigned except for observing the depressing work of a checklist-programmed employee. Throughout the day, one can witness employees and managers alike surfing the web between crucial moments of the day (pre-pricing, pricing, etc.). In fact, some employees even nod off during the extensive "breaks," and to make matters worse, most of the employees in my group work several hours overtime almost every day of the week. For example, I have noticed some employees simply waiting around without work from 2:30PM until about 5:00PM, when they can actually start end-of-day work, which takes them an additional 2-3 hours to complete before they can go home. Perhaps this is commonplace in the realm of fund accounting, but as a part-timer about to graduate in the Spring, I want little part in such a job for very long.

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