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

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
2.0
Sep 3, 2008
Recommend
CEO approval
Business Outlook

Pros

Big name, big company. Get one comp day/month if you work overtime, but no overtime paid. Casual wear, jeans are allowed.

Cons

Work load and paid don't match. State Street severely underpay their employees. Promotions are quarterly, but managers are not good at keeping track of it. They promise, and doesn't happen until 3 or 6 months later, depends on if they put in the promotion request on time or not. Most managers are inexperience, and not people person. Most of them became managers for the first time in their lives, and don't know what managing people is all about. In fact, most managers are being promoted within two years. State Street has very high turnover rate. Most talented people don't stay longer than two to three years. Major system issues - outdated, errors, and don't have effective training program. Communications within departments are lacking.

2.0
Aug 24, 2008
Recommend
CEO approval
Business Outlook

Pros

Great to put on resume and learn the basics of the finance and mutual fund industry Network with mutual funds and other investment houses so you can make contacts to move on Great place to start a network of fellow finance professionals for the future Learn systems used by other financial firms

Cons

Lousy communication from managers regarding why things are done Too many qualified people leaving because of lousy communication and bias Too many unqualified people being promoted to wrong positions Very difficult to get time off under certain circumstances

2.0
Aug 22, 2008
Recommend
CEO approval
Business Outlook

Pros

There is a good mix of people, from all walks of life. From my experience I'd say that 90% of my colleagues are an absolute pleasure to workwith, they work hard and during times when the chips have been down it's been the morale of my colleague and everyone pulling together that has got everyone through it. State Street is also a good place for opening doors for peopl who have had no experience or exposure to the world of finance. To be honest the good points are easily counted on one hand - on a plus note ,they are "trying" to improve things.

Cons

Where do I start...number one downside is the systems!!!! You find you spend most of your day shouting, yelling screaming at your computer. For a company which prides itslef on being the biggest lender, it could do whole lot more work on system developement sand improvements. Another major downside is upward progression - there is very little, you often feel that you have to wait for someone to move up before any kind of opportunity occurs for you to progress, I know this view is shared by many on my team - and as it continues year after year, it increases resentment.

Viewing 10426 - 10428 of 10,447 Reviews

Glassdoor has 11,877 State Street reviews submitted anonymously by State Street employees. Read employee reviews and ratings on Glassdoor to decide if State Street is right for you.