Advancement opportunities for top performers only - Senior Associate State Street Employee Review

4.0
Oct 30, 2008
Recommend
CEO approval
Business Outlook

Pros

There are a wide breadth of positions within the company, and plenty of potential for advancement for the top performers. Entry-level starting salaries are low, however, after about 6-8 months, I was earning 35-40% of my base in overtime. All of the entry and senior level jobs are non-exempt, and other reviewers who spoke of working 50+ hour weeks for 32k were being taken advantage of, which is no one's fault but their own. The compensation system was revamped this past year, making all employees eligible for bonuses tied directly to the rating of their annual performance review. I received 6k after just over 2 years. I feel my career has progressed at an appropriate pace, and that my efforts have always been well noted and appreciated.

Cons

Obtaining a reasonable base salary is a lesson in futility, and seemingly next to impossible for anyone but the absolute top performers. Compensation management is strictly controlled on a corporate level, with a prescribed progression based almost solely on length of service. People performing the exact same job functions can have large disparities in pay unrelated to performance. When interviewing internally expect to be offered the same 3-5% increase regardless of position. There are ways around the system, but they require the concerted effort of middle-upper management.

Explore other reviews about State Street

5.0
Jun 23, 2026
Recommend
CEO approval
Business Outlook

Pros

Own book runner and strategy. Good work life balance. Good working environment and nice people to work together

Cons

No much growth. Promotion to VP or higher is even forbidden based on company policy. Instead, ask people to move to different role. It doesn't make a lot of sense since it encourage people to find a new job.

2.0
Jun 21, 2026
Recommend
CEO approval
Business Outlook

Pros

The company has a great severence package. Unfortunately thats a pro because they are laying off workers every 3 months until most of operations are offshore. Decent 401k match and vacation.

Cons

Layoffs, pay is low. Return to office mandate.

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