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
4.0
Sep 27, 2008
Recommend
CEO approval
Business Outlook

Pros

Despite the recent market turbulence I feel that STT is a growing, challenging place to learn and work. I have never felt that there was a period where I didn't have the opportunity to learn new services, products and systems. In the areas that do flex time, it is a great benefit that helps compenstate for the less than stellar compensation on the servicing side of the business.

Cons

The communication flow from senior management is not impressive. It was two and a half weeks after Lehman went under before we saw a company wide email from Ron Logue. Even within departments that I have worked, there is no clear communication of what the longer term vision is for the department other than make it to Friday. I understand that the marketplace is very dynamic right now but longer term vision seems to take a permanent back seat to daily operating survival tactics. Lastly, many of the lower level managers in place are not competent but merely placed in that role because "the req needed to be filled or we would lose it." That does not send a very comforting message to staff who are already in those roles and busted their humps to get there.

4.0
Sep 21, 2008
Recommend
CEO approval
Business Outlook

Pros

Working at statestreet is an opportunity to gain industry knowledge through exposure to a wide client base. Servicing client portfolios gives insight into the workings of the financial system. For those changing industries, some entry level jobs do not require experience in the financial service industry to start.

Cons

Everyone does there own thing and little guidance is given until you make a mistake. The workload can be difficult to start, but once you get the hang of it, it becomes a pretty routine. The office is busiest near the end of each quarter. Do your job and be ready to move on when an opportunity presents itself.

1.0
Sep 20, 2008
Recommend
CEO approval
Business Outlook

Pros

Being a diversified company, State Street offers many positions from which someone can garner a lot of knowledge. However, once you're in a position, you are pretty much pigeon-holed, and are expected to do your job and not expect to aspire to something better unless they thought of first, or unless you are related/friends with someone.

Cons

If you are happy being just a cog in the wheel, and are willing to go along to get along, then State Street might be the right place for you. If, however, you are ambitious, then the many political structures you have to navigate to get ahead are particularly disappointing. Local management often hide behind Boston's skirts in order to avoid any unpleasant topic that they don't want to deal with. By the same token, Boston takes a hands off approach to operations. Great ideas get filtered so tight they are strangled. This is not a learning organization as claimed.

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