assistant vice president

vice president

private equity associate

vice president of operations

operations associate

State Street

•Initiating and leading Major Changes and projects involving development of New Applications, Redesign of old applications, Mega Process change.
•Requirement Gathering and feasibility analysis by thorough discussions and interviews with the users and developers. Also active surveys and observation of current Process.
•Team Management Tasks, Score Cards, Development Status report, Vigilance of deliverables and Internal Auditing
•Training of team members, Knowledge Transfer and task lead.
•Demonstrations of New Process, functionalities and enhancements and acting as the frontline project support, client interaction and problem resolution.
•Involved in Agile Process and Scrum meeting and exposure to a more dynamic and productive environment.
•Understanding of various financial components and product Types: Fixed Income, Bonds and Bond Trading Cycle, Bond Pricing, Equities, Trade Cycle, Derivatives (Options and Futures).
•Design and implementation of Regression Tool and utilizing it for a Major migration of Codes in Redesign of an existing application.
•Understand and articulate business requirements from user interviews and then translate requirements into functional and technical specifications.
•Interacted with fixed income business heads to finalize the Business Requirements for the Risk Management process. 
•Interacted with SMEs of different divisions (Information Technology, Risk and Operations) and established a business analysis and design methodology around the RUP (Rational Unified Process).
•Prepared High Level Logical Data Models and BRD supporting documents containing the essential business elements, detailed definitions, and descriptions of the relationships between the actors to analyze and document business data requirements.
•Conducted JRP sessions with management, SMEs (Subject Matter Expertise), vendors, users and other stakeholders for open and pending issues to develop specifications. 
•Designed Use Cases, Use Case diagrams, Class diagrams, Activity diagrams and Sequence diagrams in UML methodology using Rational Rose. 
•Involved in Joint Application Development (JAD) sessions with the IT Group. 
Worked closely with the UI team to model the screens, which met user defined requirements, organizational and regulatory standards. 
•Held group meetings, walkthroughs and supervised/trained other analysts.
•Developed and maintained relationships with clients on all on-going projects. 
•Responsible for the completion of projects within specified time and budget dealing with financials, project workflow, change management and dealing with vendor relationships.
•Performed System and Integration Testing along with testers. Conducted UAT with the business. 
•Created Test Plan, Test Cases and developed strategies with Quality Assurance group to implement them. Efficiently responded to client inquiries and resolved discrepancies. Identified, prioritized, tested and proved essential business functions to assure compliance with vendor and internal auditing.

I was with State Street from 2009-2013 (albeit that the last few months I was on short-term disability leave).  During this time I saw things become completely unwound, sometimes it seemed, come unwound in real time.  My group at my previous employer, BoA, was disbanded and a number of us let go in early 2009 as a direct result of the 2008 financial crisis.  I was absolutely thrilled in 2009 when I was taken on in July 2009 after only a few months of being unemployed.

Things were good initially.  There was a massive amount of work, and  I wasn't initially accustomed to handling the idiosyncrasies of a number of different clients.  From about late 2011, things changed and the working conditions took a nosedive.  The manifest aspect of this was the hemorrhaging of jobs overseas and multiple yearly layoffs (also, freezes on bonuses and raises).  This created a major "brain drain" as many of the people let go were among the more senior and more highly paid.  This created endless issues right to the end of my time there.  Equally difficult was the effect on morale -- laboring under the threat of being laid off created a shift in the culture toward the mean spirited.  Office politics like you wouldn't believe.  Also, I should note, unfilled vacancies created a massive upsurge in work -- where I was taken on to manage three clients, I was at the end formally assigned five and informally to assist with one "as time allowed."  The stress was unbelievable at times.  And, where I was capable if not thrilled at putting in weekends on top of 13-hour days in my thirties, I simply couldn't take the workload and perpetually deferred vacations.  I worked with some awesome people, several of whom I count among my closest friends now, years later.  But the last months before I went out on leave ... well, they did send me over the edge.  

It's unfortunate, but I saw the sea shift in a collegial work environment with no shortage of opportunities to learn (I learned much when I was there) to one that was on par with a Roman galley ship. Seriously.  All in the space of two years.  I heard through the grapevine that the plan is to continue to send most of the jobs in my group overseas, something that surprised me given the political impetus to bring jobs home.  I think this is attributable to short-sighted views of management, management that doesn't any longer bear any sense of commitment to its employees.

The pay keeps getting worse, it's hard to make money for a bank when the stock market is not going up... luckily they are heavily affiliated with the SPY and GLD tickers, as these two tickers usually hit the top 5 highest volume tickers trading in the market frequently.

About work though, they pay $32,500 as a start which is barely enough to afford living if you have $700 in rent bills plus your $300 student loans which only pays the minimum on your loan payments and $300 is probably a lot less for most people paying down their student loans. You can't afford a home loan for 95% of the homes on the market anywhere near your job, and every time someone leaves, you get stuck with that persons workload with no extra pay. Team went from 5 to 3 people... I'll probably ask for a raise, and still not get $40k.

Great on the resume. Seems apparent I'd be better off paying $3,500 for the CPA certificate and making $10,000+ more anywhere else. I came to StateStreet to be along side traders... I'm stuck working next to people who don't know a thing about the stock-market and were shocked when their StateStreet retirement funds fell 20% in 10 days during august, as I watched or continued short-selling the market... and I have no insider knowledge of what would happen in the market as it is too broad of scope to determine, other than speculation using Technical Analytics and being aware of current market sentiment and conditions, and just watching the financials like BofA's chart break a bunch of rules. Although it was reaffirming watching all the Sell trades I booked for our clients long after I shorted.

If you get into this place... just stay away from commercial loans unless you love fantasy football and doing nothing all day, except for 4 days out of the year when Prime Interest is due.

I'm pretty pessimistic about the entire Banking Industry for the next couple of years.

State Street's Atlanta office does a poor job of giving its employees career advancement opportunities.  Some people are lucky and are placed on a growing client or on a team that has a number of managerial-level people quit.  Others regardless of work performance can get stuck at the some position for 5, 6, or even 7+ years.  There are a number of people in the office I have seen this happen to.  What is even more alarming is that the office is growing and getting new business and not losing much business.  When there is a new client, State Street hires someone from outside the company rather than find a way to promote a current employee.  For example, they do not even move a current manager over to a new client so that an associate can move up to a manager position while still be familiar with that same client.

The company supports tele-commuting and does offer reduced work schedules to people when manpower resources are sufficient enough to allow one to reduce his hours.  In the first two calendar years, employees get 3 weeks of vacation plus 4 additional days (3 personal holidays and a day-off for your birthday).  You can also purchase up to 5 additional vacation days.

One problem the Atlanta office ran into lately is using up its parking space allotment at 3 Alliance Center.  State Street did a good job of planning a green office setup at the new office.  However, the Atlanta office has exceeded its parking space allotment based on the square footage leased by State Street.  Any new employee will need to park at Monarch Tower and walk over or take MARTA.

State Street can also be cheap.  State Street corporate will not fund a low-key holiday party.  To have a holiday party, the Atlanta office had jeans week fundraisers where if you paid $10, you can wear jeans for the entire week.

On some teams, the hours are really bad as in 70+ / week at peak times.  All positions up to the Senior Associate level get paid over-time in addition to one's salary.  Manager (Officer) and above do not and are on a set salary.

State Street is the typical run of the mill corporation. You are just a number. 5 years and have nothing to show for it. No promotional opportunities unless you move to another department. Managers are either never around or are too busy and goofing off to help you. Work loads have increased as the hiring freeze continues and people have quit.

Offshoring is common and the joint venture teams are next to useless. Everything is literal with them and no logic is used to figure out answers to questions. Everything comes back onshore asking a question. Prime example of if you want it done right, you have to do it yourself. Year end and tax season is stressful. No time off allowed during those periods for any reason. Travel to see family is of no concern to managers who are allowed to take time off then.

In my five years, I have witnessed massive inefficiency get progressively and exponentially worse. This company won't be around in 10 years at the rate it is going.

Pay is low compared to the industry. Healthcare plan is a joke if you are single and healthy and downright affordable if you have a family.
Raises are no longer given and bonuses are insultingly low. You get the same bonus if you work hard all year or goof off. Work From Home is promised upon hire, but is never allowed. Even during snowstorms when the Governor says to stay off the roads, you are expected to be in the building. Managers give you a hard time when you ask to take a half or full day to attend a funeral or are sick.

Atmosphere is generally hostile and a lot of employees complain. Hours are 9-5ish, but some people arrive 45 minutes late and are not reprimanded. Office is outdated 90s style with cubes. Tech is worse. still using accounting platform built in the 70s and using fax machines.

Overall, do not waste your time if you are looking to grow. You will not move up. Only benefit is 4 weeks vacation, otherwise I would give 1 star across the board.

For those motivated to progress their career, I can't recommend against this place enough.  I worked in their Global Services branch, so I can't comment on GX or GA.  Some background:

I have:
>Worked there for three years as my first job out of college, with a Finance degree and a 3.85 GPA.
>Received two promotions (from Associate 1 to Senior Associate).
>Only received highly positive performance reviews.
>Left on my own terms, and was asked to stay.

Culture is the biggest issue.  There is none.  Nobody wants to talk to each other.  Everyone wants to do their job and go home.  Most people don't do a ton, so any effort to help is often met with hostility - people want to make sure they are worth something and have job security.  They are prone to shipping work offshore.  Aside from one or two people I worked closely with, I have no desire to keep in contact with anyone.

Compensation is bad.  They have a huge drive to cut costs, so paychecks, bonuses, and raises are incredibly low compared to industry standards.  They don't get better if you're better.  Most people say that to get paid more at State Street, leave the company and come back as an external candidate.

Additionally, progression is bad.  9 times out of 10, they'd rather hire externally than promote internally, which can be a huge kick in the pants.  On top of that, they are very bad at developing their talent.  Limited training options are available, and they don't seem to have much interest in investing in that.

On the other hand, if you are at the end of your career and want to ride the gravy train into the sunset, be a senior manager at State Street.  Those guys don't do a whole lot, and get paid significantly better than most.

Do yourself a favor.  Find a better company.

This was an interesting part of my life where I had just graduated from college with a heavy emphasis on Radio, Film, Theater and Philosophy. Went to a temp agency and they placed me in a major financial institution. This was very fast paced with everyone having a decent amount of know how going into their position. 

I was extremely fortunate to have this opportunity. As my first real job, it became a great new learning experience which I excelled at rather quickly.

I learned about how mutual funds work and financial operation on a global scale. Interacted with clients, agent banks and internal investment banks to ensure the portfolios performed optimally. 

I was told that my performance accounted to 15% of the funds success. One fund was valued at $14.6 billion. It was an honor to have this kind of responsibilty. Fortunate to work under such a great leader who originally trained me on his duties. 

What we did was like one giant puzzle. As a lifelong musician, I believe that it was this skill which allowed me to work well with patterns and math while being creative enough to figure out the reconciliation of the funds they were in the process of balancing.

They foresaw the economic crisis and began to downsize. This offered a voluntary layoff which helped to change and refocus my life. The severance package is what I used to move to the greatest city ever... Austin, Tx.

It's a good place to work for people who does not have kids or is a caregiver. Because of lack of flexibility very rigid environment. The work load is excessively and there is never enough people for the work load. Pregnancy can be very traumatic because there is no special accommodations the expectations is unrealistic when facing all the discomfort and   extra self-care. The stress that some pregnant women go through gives a feeling that people are upset at you for being pregnant. The stress seems to be directly causing early contraction some days. Not a good place to go through a pregnancy.  Flexibility for vacation should be plan to allow people to take turns for holidays vacation. Or hire more worker to have enough coverage so the workers are not over work and not able to have enough times to travel for the holidays. The blocky days should be dealt differently maybe by giving incentives. Because not everyone needs to travel during the holidays, some people only needs to celebrate locally. We are people working with people consideration should be made to life and family. Values the individual and family because the work atmosphere is very important. Increase productivity creates better place to work. Nobody wants to be working someplace where you are not value and appreciate. The work load in some case is excessively too much. When the preparer are all salary there is not limit and restraint on working time and the expectations is clearly states that working all day all night all weekend is expected to get done! This is not right and does promote s an healthy and equilibrium in a workplace.

Other departments are probably different, but this review strictly refers to financial reporting/fund administration. 

Decent entry level job but more of a stepping stone than anything else.  Extremely low starting pay relative to similar companies/market value leads to high turnover.  Not one person seems to enjoy working there at all, which is reflected in the overall culture.  Very repetitive work and inconsistent workload.  Terrible work life balance at times, working up to 60 hours/week in some busy months but no more than 15 hours of actual work a week in slower months.  Poorly designed training/orientation that doesn't really prepare you for your job at all.  A lot of learning as you go, which is basically dependent on the quality of your co workers.  Company is vague about what specific position you're actually interviewing for.  I didn't find out my exact department and job title until my first day on the job.  Heavy emphasis on offshoring to India, which can cause logistical problems with different tie zones and uncertainty of job security.  Skills learned are not easily transferable to other jobs, which can make the job a bit of a dead end.

Generous vacation policy.  Starting paid time off allotment of 3 weeks plus 3 personal days.  Decent opportunities for advancement within the department, but easy to get stuck on a treadmill so to speak.  Some co workers can be very knowledgeable and helpful.  Paid overtime for any hours past 40 in a week.

Let me start by saying that State Street is a very large company, and managing a company of this size presents some very challenging decisions.
Currently the company is in the process of compartmentalizing daily tasks into various 'COE's' (Center of Excellence) to streamline operations. Sadly, this means that at the desk level, you will be responsible for 1 task and you will perform this 1 task for 8 hours a day, 5 days per week. If you are looking for a routine based position with meager pay, requiring zero creativity, then this is a good place to work.
As someone who thrives in a challenging and dynamic work environment, it has been difficult for me to work here. Management does not seem to be interested in improving procedures or providing incentives to innovate. Most people are interested in doing the minimum and totally shut out any suggestions that cause variability in the daily routine. Initiatives come from the top and trickle down, leaving the junior employees without a voice.
That being said, my entry level co--workers are all around my age providing a good opportunity for networking and making friends. Some of the more senior employees are very closed and difficult to socialized with, perhaps because their spirits have been broken by the rigors of the daily grind but the younger people all have pretty good attitudes.
At a place like State Street you take the good with the bad, suck it up and make the best of it. You make friends and try to get out of there as soon as you can with some work experience under your belt.

Top Job Titles	Average Salary
Assistant vice president 115 salaries reported	$118,342 per year
Vice president 45 salaries reported	$160,042 per year
Private equity associate 38 salaries reported	$85,193 per year
Vice president of operations 26 salaries reported	$133,438 per year
Operations associate 26 salaries reported	$66,744 per year

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