Once great firm no longer worth your time - Managing Director State Street Employee Review

2.0
Feb 16, 2024
Recommend
CEO approval
Business Outlook

Pros

- Long-standing, stable firm doing important work in a vital industry - True innovation happens here, depending on where in the organization you work and how well funded it is - Culture from middle-management down supports new ideas and values manager/employee relationships - Decent opportunities if you're a very high performer, have a thick skin and a lot of patience - Good bonuses, but again, only if you're a high performer

Cons

- Company can't get out of its own way with an insane level of red tape, antiquated policies and overly-complicated employee communications - Innovation is squashed more often than not due to hilariously low budgets and staff resources, even in critical areas of the business - While middle-manager/employee relationships are often healthy, executives (EVPs) severely undermine them with rash decisions and surprise policy changes that leave everyone wondering if they're deliberately trying to wreck the company - Alarming trend down in the promotion policy that requires even junior employees to apply for their own role — if they don't get it, they're gone - Forced return-to-office applies largely to the US and nowhere else in the world, leaving a huge part of the workforce feeling unfairly targeted - Lower and lower base pay that is now well below market average, with no cost-of-living increases (many, many years of 0% change) - The company does not invest enough in people or technology to do the essentials, so many people are constantly overworked (60, 70, 80 or more hours per week)

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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