Hey WSO members,
Has anyone here worked for State Street Corporation? If so, or even if you haven't, can you comment on your experience, thoughts on the company, and perceived reputation? I am contemplating a job opportunity at their Sacramento location and would appreciate any feedback.
I know I haven't given you any career goals or other criteria, but I just want raw opinions. Thank you for your help!
Graduating from a business school in the Boston area, a good amount of my classmates (and few friends) have worked for SS. Two of them, who were part of the asset servicing branch (fund accting and portfolio management) hated the job. Pay wasnt all that great, turnover was high and morale was low. One left after about a year, the other left after two. Another buddy works for State Street Global Advisors and enjoys what he's doing, though I'm pretty sure his work is more intellectually demanding than my other two friends. I guess it all depends on what part of the business you join up with.
State St's a big company that does a lot of different things. What role/division are you interviewing for?
Thank you both for the response. It is an investment operations role which, of course, isn't totally ideal but I'm thinking may be some good entry-level experience with a large-ish name attached to it. Any other thoughts would be appreciated, too.
As dingdong08 has mentioned, SS is a huge organisation. The 3 main bits are the SSGA/ SSGM and SSGS sections of the organisation (all on the website). SSGS is the global services bit (read not that high pay/ high turnover of staff etc), SSGM - trading bit (great pay, excellent benefits if you're a trader etc), SSGA - the largest or second largest asset manager in the world (after BlackRock, but maybe double check that)..good pay, smart people, low turnover.
Try and avoid SSGS if possible, however if you're going in for an entry level job, then just go for it, experience is better than nothing.
Also try glassdoor out, they give lots of reviews on different companies, and you can get a more balanced view from having a read there (based on salaries, general staff consensus etc)
Good luck.
Completely depends on your role and division.. I have worked both in the back office department and front office in Global Markets (very hard to make this transition btw). Risk is slow, a lot of red tape and low energy but pay is decent. Front office has great pay and a more involved environment but hours can be stressful and long. Stay away from accepting a role as one of the drones in processing or fund accounting.. Those jobs are going to be automated soon anyways (BLOCKCHAIN!)
The little I know about State Street is Boston. I've hear too many stories about overworking their employees, pay isn't the best, work life balance is not a priority. Of course, as a young person starting out any job is good and if that's the hand you've been dealt- get the experience and plan to be looking for a better opportunity in about 2-3 years. Good luck.
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