Best Places to Work in IT 2011 Employer Profile

No. 83

State Street Corp.

Boston [New England]

Why you want to work there

This Boston-based financial services firm offers a long list of perks. Its IT and Business Transformation programs provide IT employees (both U.S.-based and global) with opportunities to enhance their skills and knowledge and be part of leading-edge technology deployments. For example, over the next three years, State Street will move its applications and server processing into a private cloud environment. The IT department continues to increase its investment in training initiatives, such as a custom-developed IT leadership training program for all IT managers. This three-day program includes an interactive discussion of the company's IT strategy with a senior IT leader and sessions focused on the specific management skills needed to execute that strategy. In addition, State Street's IT division is introducing a new project management training program and it offers classes on SharePoint development, database appliances, cloud computing and other new technologies and methodologies. Paid to perform Eligible employees can receive annual merit increases and various forms of incentive compensation, all of which are performance-based. In 2010, State Street had two promotion cycles. The IT division's Global IT Rewards & Recognition program includes monetary awards from the CIO, division awards and spot awards.

Rank by company size:
Large, No. 48

Employee Statistics

Total U.S.-based employees: 16,257

Total U.S.-based IT employees: 3,017

IT employee turnover in 2010: 7%

IT promotions in 2010: 7%


Training days offered per IT employee in 2010: 3

Training budget per IT employee in 2010: $1,012

Women in IT

Total percentage of women within IT: 29%

Percentage of IT managers who are women: 24%

Percentage of IT staffers (non-managers) who are women: 33%

Minorities in IT

Total percentage of minorities within IT: 28%

Percentage of IT managers who are minorities: 19%

Percentage of IT staffers (non-managers) who are minorities: 32%