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      State Street

      Engaged Employer

      State Street reviews

      3.4

      60% would recommend to a friend

      (10,447 total reviews)
      avatar

      Ronald O’Hanley

      69% approve of CEO

      57% positive business outlook

      Ratings by category

      3.6

      Diversity & inclusion

      3.5

      Work/Life balance

      3.3

      Culture & values

      3.2

      Career opportunities

      3.1

      Compensation and benefits

      2.9

      Senior management

      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).

      Ratings by demographic groups

      Reviews by job title

      10K reviews
      2.0
      Oct 22, 2008

      Hard to advance career for young people at State Street

      Assistant vice president
      Recommend
      CEO approval
      Business Outlook

      Pros

      Overall benefit is Ok and job seems to be stable.

      Cons

      It's very hard to advance career at State Street, especially as a minority. I was in IT department and there were few minority managers while most of the employees who actually do the job are minorities. In addition, State Street doesn't provide enough training for employees. Tuition reimbursement seems to be based on if your manager likes you.

      2.0
      Oct 21, 2008

      Be Careful What You Ask For

      Fund accountant
      Recommend
      CEO approval
      Business Outlook

      Pros

      You get your foot in the door in the financial service industry. However you have to do something within 1-3 years to differentiate yourself or you'll get stuck. I've known some people who went from fund accounting to managing billions of dollars but they didn't get there overnight and you have you pay your dues and work hard. Its been 3 years since i've been out of college and 1.5 years since I left my fund accounting job. Now I work in an investment consulting firm servicing institutional clients. Paying your dues will pay off in the end.

      Cons

      Compensation is very low. Stigma of working in the back office. Also the people are a major drawback- I notice a lot of people who don't know what they want to do with their lives and work here to pay the bills and then they wake up and realize they're 40. Other people want to be to be a buy-side analyst/trader/portfolio manager and get resentful that they never had the chance too however I never seen any of them try to take the next step by studying for CFA/MBA and keeping up with the markets.

      3.0
      Oct 20, 2008

      Some good, some bad

      fund accountant associate i
      Recommend
      CEO approval
      Business Outlook

      Pros

      State Street has a great benefits package, very stable work environment, and a good manager review system that generally prevents bad managers from screwing their employees at year end review time. I also think they do a decent job of throwing some nice side benefits to employees such as random free ice cream days in the summer, free tickets to various sporting events, and various employee appreciation days. In many divisions, the work-life balance is great, lots of ppl work 40-50 hours a week and never any weekends. Like I said earlier, very stable work, even in the current financial crisis, I don't expect to loose my job anytime soon.

      Cons

      Some of the negatives are there is poor upside potential. After the entry level fund accountant, there is the Senior Account Specialist which is fairly easy to get to, but unfortunately is a pretty crummy job. Pay for that level is about $40,000 give or take a couple thousand. But these ppl may end up working 50-60 hours a week and take a lot of the stress. Fund accountants start at $32,000 here in KC and only get small inflation raises each year. They may through in a small bonus of a few hundred dollars too if the company had a good year. The work is also boring repetitive, not very exciting.

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