Hi Everyone, I just got a job offer from State Street Atlanta Office. After reading all these posts about how SS is a sinking ship and there have been several rounds of layoff across the board. I am not sure if I should step in. Any Thoughts?
4 replies (most recent on top)
Run away as fast as possible. You can make more money elsewhere and get better experience.
My advice is to steer clear of this company. State Street is rotten to it's core, and t does not matter if you join where it is "safe for now". Eventually the entire apple will be infected.
I agree it completely depends where and area you work in. For example my direct group had gone through the conversion of sending more than half our jobs to India so layoffs are less likely. They may still do this to get rid of people that are dead weight but where I am they pretty much already did that.
It is less likely for you as someone new ... if you see people working alot of hours and there seems too much work more likely you are safe.
SS is a big corporation. Just because there's layoffs in one market/geographic location doesn't mean the whole company is laying off people in general. Their Atlanta office is far from laying off people at this moment. They're struggling to retain top talent. But remember the entire ATL office is primarily comprised of a lift-off they did from Morgan Stanley's RE group few years back. There was a huge MS-SS culture migration that happened and lot of the legacy MS people have been struggling with the lift-off/change/different company culture and as such they were always looking to get out. There's huge potential for their ATL office and lots of demand for top talent. Lately they've started to pay competitively with the market to attract talents. I think you're safe in the ATL office when it comes to layoffs. Don't just panic or have a knee jerk reaction every time you hear things like these. Put everything to context and ask people you know directly instead of a forum.