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      State Street

      Engaged Employer

      State Street reviews

      3.4

      59% would recommend to a friend

      (10,465 total reviews)
      avatar

      Ronald O’Hanley

      69% approve of CEO

      56% positive business outlook

      Ratings by demographic groups

      State Street has an employee rating of 3.4 out of 5 stars, based on 10,465 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
      1.0
      Sep 6, 2013

      Unrewarding, both professionallly and in terms of compensation

      Assistant vice president
      Recommend
      CEO approval
      Business Outlook

      Pros

      1.) If you work in the right area you may be eligible for a Flexible Work Arrangement (Note: Those privileges are can removed from an entire department, without notice, as a form of communal punishment for operational losses within a separate area of the department) 2.) If you become CEO you will be the 3rd highest paid in the entire industry.

      Cons

      Talent Loss/Brain Drain is remarkably high at State Street. With little to no merit increases for employees over the past 7 years, attrition rates for talented employees are extremely high. The remaining lesser-skilled employees have been forced to work longer and harder to implement unrealistic cost savings plans (i.e. outsource their own jobs). As a result, moral among employees is terrifyingly low (crying at the desk, storming out of the building are not rare events) and operational losses seem to be occurring at unprecedented rates.

      1.0
      Jul 26, 2013

      Right out of college, you're just so naive...

      Associate ii
      Recommend
      CEO approval
      Business Outlook

      Pros

      -work/life balance is great because the incentive to work overtime is non-existent -PTO and sick days are the only benefit you will get when working here

      Cons

      -where to begin...I am pretty sure the Senior Associate above put it perfectly -No room for growth (only lateral and who wants to stay at the same salary, yet on the bottom of the totem pole? Really, if you have an answer enlighten me on here) -The pay is absolutely terrible, the company has been ranked #1 custodial bank for the past few years; however, we have one of the worse base pay rates in the industry. Even Brown Brothers have a higher starting salary....and that says something -the company only cares about their shareholders and not the individuals (associates aka peons) that actually keep a good standing with the clients which inadvertently gets the CEO a bigger bonus -The peons bonuses, never mind, we shouldn't even call them a "bonus" by the lack there of... -Raise percentages fall under the same umbrella of the bonuses....I believe you can start to see a trend -Even if you have the determination to start making a change for you and your fellow associates, your voice goes unheard....even when you schedule a meeting and discuss this with SVP -

      2.0
      May 28, 2013

      NOT a place to build a rewarding and lucrative career.

      Associate ii
      Recommend
      CEO approval
      Business Outlook

      Pros

      They'll hire just about anyone and the work is very easy. Good place to earn a little money while you hunt for more legit jobs.

      Cons

      Pay: Consistently pays the lowest in the industry. Bonuses are a joke in good times (aka 2007). With a good rating, nice VPs, and a fully funded bonus pool you can expect about $1,300 pretax. Last year the good groups got $700 pretax. Raises are about 2% annually... yeah. You read that right, 2% of your measly 40k salary. Job growth: They have a terrible promotional system. Rarely is hard work recognized. Many higher ups have no idea what goes on at the actual work level and do their best to ignore work distribution. Benefits: They used to be good but the company is constantly cutting them to save money. Now they are just like any other company. Culture: The company actively endorses a very sad culture. They spend enormous resources saying that they care about your career and that they're always "attracting and retaining" the best talent but that's hardly ever the case. The company has a reputation of hiring everyone who just couldn't get a job anywhere else. They want you to be that worker who has no ambition and will work in the same job for 10+ years until they eventually lay you off and re-hire you at a fraction of your last pay. It's depressing how many people are ok with that.

      Viewing 181 - 183 of 10,465 Reviews
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