State Street Careers, Benefits, Review

Our employees come from many backgrounds and have a wide variety of life experiences.

By recognizing the value of different perspectives and encouraging employees to be their true selves, we’re working toward full organizational equality.

Taking Pride in Our Progress

“Through our internal programs and industry partnerships, we’re committed to providing career development and networking opportunities for our employees. We’re honored to be recognized for our efforts to support inclusion, diversity and gender equity in the workplace.”

- Paul Francisco, Chief Diversity Officer

As we look ahead, we strive to build a culture of belonging and inclusion. This means creating opportunities to identify the best talent through a diverse slates of candidates, as well as our mentor and sponsorship program with the objective of increasing the number of women and people of color in senior positions among other programs. Additionally, we continue to evolve our employee benefit programs to match the needs of our workforce. This includes extending parental leave for adoption and surrogate births, and providing health care coverage for fertility treatments for same sex couples. In addition, we have instituted actions aimed at reducing the pay gap between men and women by not asking for compensation histories.

Read more about   Inclusion and Diversity  at State Street. 

Connecting Our Employees Around the World

“We proudly support a wide range of employee resource groups that not only increase engagement, but also help us gauge progress on company-wide initiatives.”

- Ron O’Hanley, Chairman and CEO, and Executive Sponsor, Black Professionals Group

Employee Resource Groups

Reaching Higher with Our Diversity Goals

"We've committed to creating an open, respectful environment for our global workforce.
Here's how we're getting there."

- Kathy Horgan, Chief Human Resources and Citizenship Officer

Diversity Goals

 

 

At State Street, we know that smart, skilled, productive employees are essential to our company’s continued success.  As a leading provider of financial services handling more than a tenth of the world's financial assets*, with operations in 30 countries and more than 39,000 employees worldwide, we work hard to provide an environment where every employee feels engaged, valued, and well-equipped to reach their full potential.

 

Promoting a culture of excellence

Our people are our most valuable — and valued — resource. That’s why we focus on Employee Engagement, Development, and Global Inclusion. We’re a company that insists on — and recognizes — exceptional performance. We know our success hinges on the critical task of attracting the best people to join us. People like you.

 

No matter where around the world our employees are located, we are united by a common goal: to add value by collaborating strategically with all of the groups we serve — clients, shareholders, fellow employees and the communities where we live and work. By treating our employees with respect and providing opportunities to fulfill personal and professional goals, we’ve created a diverse, high-performance culture of excellence.

 

Join a global industry leader

Looking for a challenging and fulfilling opportunity to grow along with a global industry leader?

State Street has earned its reputation as one of the world’s top providers of financial services to institutional investors by successfully meeting the changing needs of the marketplace for over two centuries. Today, with our unique combination of consistency and innovation, we help clients manage uncertainty, act on growth opportunities, enhance client service and optimize cost structures.

Whether you’re just starting out in your career or are reentering the workforce, already have financial services experience or are new to the industry, State Street has a wide range of employee resources, a commitment to flexible work schedules and a host of development programs in place to help you build a personally and professionally fulfilling career.

Managing the divergent demands of your personal life and professional goals can be a challenge.  State Street’s  Work/Life program offers a healthy variety of programs and services that help employees manage the big and small life events we all face daily, whether they involve caring for others, caring for yourself, or both.

As a State Street employee, you have access to a wide range of work/life resources geared toward providing flexibility.  These resources include:

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Flexible work arrangements program, including flextime, flexplace, part-time, compressed schedules and job-sharing options

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Child, elder and personal care referrals and resources

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Emergency back-up day care services

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Paid parental leave

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Resources to support new mothers returning to work

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Employee Assistance Program (EAP) services

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Personal financial planning seminars

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Discounts to health and fitness clubs

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Discounts for personal expenses, including auto and home insurance, computers and banking

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Group discount opportunities, including shopping, recreational and entertainment activities

 

State Street offers a competitive, comprehensive and flexible benefits program designed to meet the changing needs of our employees and their families. 

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 Programs that cover employee, spouse, domestic partner, other adult dependent and/or children

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A selection of comprehensive medical plan options, such as a health maintenance organization (HMO), a preferred provider organization (PPO) or an high deductible plan with health care savings account, each offering a different level of provider choice

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Dental and vision coverage

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Flexible spending accounts for health care, dependent care and transportation needs

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Employee and family life insurance

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Accidental death and dismemberment coverage

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Short-term and long term-disability

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Salary Savings Program with 401(k) pre-tax and Roth options, competitive company match and discretionary performance-based contribution opportunity

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Holiday and vacation policy, plus option to buy/sell up to 5 days of vacation

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Adoption Assistance Plan

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Support for continuing education

 

Inclusion and diversity are strategic imperatives at State Street.  As a global company, what we value most about our employees are the qualities that make them unique — their experiences, interests and capabilities. Global Inclusion is our company-wide effort to ensure that every one of our employees feels engaged and valued by recognizing and utilizing their unique talents.

Below are just a few of the key programs and activities we offer as part of our Global Inclusion initiative:

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Flexible Work Program

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Mentoring

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Various Employee Networks and Affinity Groups, which create the grassroots infrastructure for our inclusion efforts

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Sponsorship of numerous national and local professional associations

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A formal Work/Life program to address the needs that all employees have in integrating their professional lives and personal responsibilities

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A reward and recognition program for employees who display best-practice inclusion behavior

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An enhanced governance structure for inclusion, featuring executive vice president-level leadership and a 30-member global working group

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A personal development goal for all employees on inclusion-related behavior woven into our performance management system

 

We’ve recently launched the State Street Alumni network;dedicated to connecting former State Street colleagues (including legacy IBT, IFS, IFTC etc). This community enables alumni to make and renew connections with former colleagues, take advantage of exclusive perks and discounts, keep up to date on State Street and alumni news and attend special events.

We look forward to welcoming our alumni to the community.

Actively engaging our global communities is one of our fundamental values

At State Street, we are committed to increasing the economic well-being of our communities, both in the United States and globally.

Our Corporate Citizenship group and the State Street Foundation, Inc., the company’s charitable grantmaking arm, help equip less-advantaged citizens with the skills they need to succeed.

Every year, State Street devotes a portion of its pre-tax profits to the State Street Foundation. In turn, the foundation invests in communities through a strategic grantmaking program, an annual employee giving campaign and our Matching Gift Program.

We manage giving programs at 35 sites and 24 countries in Africa, Asia, Australia, Europe, Japan and North America. In our offices around the world, our employees volunteer to serve on regional committees that identify community needs and partner with local charities to implement real change.

Helping our employees do more

Our employees are passionate about giving. State Street’s Matching Gift Program helps make the most of their charitable donations in three ways:

> GiveMore — Matches their financial contributions

> CollectMore — Matches their fulfilled fundraising pledges

> DoMore — Matches their volunteer time

Extending our support with community outreach

Through our Global Outreach employee volunteer program, State Street enables community organizations to draw on the resources and talents of our employees. In 2010, our employees around the world devoted 78,000 hours to community outreach activities.

Our current employees aren’t the only State Street volunteers with a tireless community commitment. In Massachusetts, for example, we offer the Spirit of State Street alumni volunteer program for retired and former employees, and provide summer jobs to high school students in Boston. In many of the markets where we do business, we sponsor charitable fundraising events and make contributions to small business and affordable housing investment funds. Our procurement division also manages a highly successful Supplier Diversity Program.

Earning high ratings for community support

Because State Street is classified as a wholesale bank under US Community Reinvestment Act (CRA) regulations, we are evaluated every two years on how well we meet the needs of the communities in which we operate — particularly in low- and moderate-income neighborhoods.

Reducing our impact on the environment

At State Street, we are working to impact our community in several ways — including by better managing our environmental footprint. In 2003, we issued our first Corporate Environmental Sustainability Policy Statement. In 2008, we established our Office of Environmental Sustainability and began to roll out our Environmental Management System to all of our offices globally.

These efforts have gained us industry-wide recognition.  In its inaugural “Green Rankings 2009,” Newsweek magazine named State Street one of the top 10 green companies.  The survey ranks America’s 500 largest publicly traded companies based on sustainability. State Street ranked No. 1 among financial services companies and sixth overall for its resource use, carbon emissions, and its policies and strategies, along with its reputation among peers.  If you’d like to find out more about the survey, including the methodology, visit Newsweek online at http://greenrankings.newsweek.com/top500.

We know that being a responsible corporate citizen contributes to our success as a global company and is essential to our long-term sustainability.