State Street Professional Development Program

jcas's picture
Rank: Chimp | 15

Can anyone talk about what State Street's Professional Development Program (PDP) is like? I've heard it's a rotational program that starts new employees off at Sr. Associate level with a lot of benefits/great pay? Anything else?

Comments (19)

Jun 4, 2015

Pay is dece - depending on which function you are based in. Global Markets/Global Exchange prob pays the most at 55-58k (58k is cap for senior associate position) with an okay bonus. Pretty good exposure to execs within the company and there are tons of networking opportunities

Nov 5, 2015

sorry is salary you mentioned in pounds or dollars ?

Dec 31, 2015

hehe.. good one. ! ! its probably dollars ! ! :P

Dec 31, 2015

is the salary same for Master's students as well?? or do they get some additional hike ?? any idea???

Dec 31, 2015

Interested in this as well!

Also, when is the application deadline?

Dec 31, 2015

The program has several tracks however its not structured exactly the way they advertise it. The tracks are as follows:

Global markets: sell side capital markets
Global services: custodian
Global adviors: asset manager although this program is different in that they only hire more expierenced professionals.
Global exchange: Data and Analytics

There are also tracks in compliance, enterprise risk managment, IT, i might be missing a few but they are mostly support roles.

If you get placed into global markets your rotation will be in that division you will not get placed in a back office role. However internal mobility for memember of this program is high. People have completed the GS program and have gotten full time offers in other divisons.

"Risk comes from not knowing what you are doing"

Dec 31, 2015

This is very helpful, thank you so much.

So based on how your interview goes, you have little input on where you end up? I guess what I'm asking is, if I get accepted to the program, I have a chance at sell-side research/trading support in SSGM, or research/analyst roles within SSGA, but I could end up in a fund accountant or business analyst role?

Dec 31, 2015

I have a friend who went through the interviews in Boston, so I will tell you what I know:

  1. Most questions were fit, with a few brainteasers and "what do you think about the markets" questions to gauge actual interest in finance. He didn't know much finance then (just took macro and micro econ) so maybe that's why. I would imagine if they interviewed an actual finance major they might ask more technical questions.
  2. Not sure, but he got one.
  3. There were a series of interviews during a one-day period but I don't remember mention of a math test or group exercise.
  4. Low compared to street - 45-50K. And it's a rotational program so the bonus at the end of the first year at least is peanuts (< 1K). I'm sure pay improves once you get an actual placement though.

Good luck!

Dec 31, 2015

Hey Senorita,

Thank you very much for the info. It's immensely helpful.

Dec 31, 2015

Hi Chris,

I have the same AC. Not really sure to expect with regards to the interviews but the whole structure of the day seems to be similar to that of other IB's, Citi banks is almost identical. Did you go to the one this week or you got it next week? I think there might be 3 or 4 AC's so guessin they might be taking on 5-6 which isnt too bad.

Josh

Dec 31, 2015

Hey Josh,

Yea I did the one on Wednesday. From what you said, I assume you had it on yesterday then? How did it go? I felt kind of weird about one of my panel interviews, but the rest went smoothly otherwise. I am just crossing my fingers that particular interview didn't kill my chances. Good luck to us! keep me posted.

cheers,
chris

Dec 31, 2015

Hey chris, would you mind to share a little bit more about what kind of questions did you get from the interview? And whether they have numerical test (if yes, how difficult is it)?
There are people talking about group exercise, what is that? case study?

Thank you very much in advance. Any help would be appreciated.

Dec 31, 2015

how long did it take you guys to hear from state street?

Mar 26, 2017

SSGM pays around 70 - 80k for Sr associate position.. The PDP is a very well respected program within SS and is a fast tract to a leadership role. You get to choose which track you interview for (SSGM, Risk, SSGA, Digital) and you are placed within a different group every 6 months within that track for 1.5 - 2 years.

    • 1
Sep 18, 2018

80k + 5 signing SSGM PDP

    • 1
Oct 9, 2019
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