State Street reviews

Extremely low salary compared to competitors, especially for entry level employees. Entry level workers are actually paid hourly and work less than 40 hours a week (can depend on the department you land in). They say you get paid overtime and bonus pay. However, overtime hours are closely monitored and need to be approved so you cannot always count on this additional source of income. With bonus pay, the increase of income is not even close to matching the base pay of other companies within this industry. There is high turnover, partly due to the low salary, partly due to the lack of challenge in the job. It becomes a routine. Good to stick around for 1-2 years, then move on.

Month end period is trecherous with non-stop work. Managers sometiem lack patience with new hires as well as long time workers. Salaries don't go up much regardless of years of experience. Communication is lacking many times and duties are often assigned to multiple people. Managers don't encouraged workers to take classes outside of State Street's own curriculum. Work life balance doesn't exist... period! Work before life. Since managers ususally know what they are doing, they forget that some people, expecially newcomers, don't know as much as them. Managers get frustrated when an employee hasn't completed a work that he/she was never taught. Most employees complain about poor pay and that creates a negative environement. The work is simply data entry and very monotonous. There is no space for fresh ideas/creativity, or insight. Portfolio accountants can harldy seperate themselves from their colleagues, unless they do a ridiculous amount of overtime. It appears that there is no room to grow and no furthere promotions after the manager position.