The first time 21-year-old Casey Waugh processed a multimillion-dollar trade for financial giant State Street Corp. she was “terrified.”
A junior at UMass Amherst studying business, Waugh is also working in a State Street facility in nearby Hadley. She has gotten over her early trepidation and now looks forward to inputting trade records for State Street because of the insight it gives her into the securities business.
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It does matter how many low paying temporary internships State Street Corp (STT) tries to publicly create in a "Marketing ploy" with UMASS, the truth is they have off-shiored (by my count I worked there for 14 years)3,200 US Jobs from a myriad of US locations (most from Massachusetts) in Irvince CA, Kansas City Mo, and North Quincy, and they are in the process of shipping off 750 Fund Adminsitration jobs in downtown Boston, jobs perfect for recent college grads like Fund Accounting jobs, IRS/SEC Compliance jobs, Finacial reporting jobs, Custody jobs, and more. The current CEO Jay Hooley ley and his Operations Man Allen Greene are sending these Boston jobs to INDA where the workers get paid $500 a month to do work Bostonians did for $3300 a month, and JP Morgan Chase is doing the same in Boston as well. Thereis No jobs initiative with US MAss just a cheap Marketing ploy in attempt to offset the fact that a from which recieved a $2 Billion TARP bailout is wiping out middle calss jobs in Boston and Quincy, and basically lying about it to the public. see the clip below:
http://www.wgbh.org/programs/Greater-Boston-11/episodes/July-19-2012State-Street-outsourcing-40276
This is a mini co-op program.
Only 10,000 other emplloyers offer this type of experience to college students across the world. Congrats to State Street and its Chief HR OFficer for being so 'leading-edge.'
What's next from State Street, desk top computers?
This program is nothing more than a thinly veiled PUBLIC RELATIONS GIMMICK by State Street in a pathetic attempt to show it supports the Massachusetts workforce. The REAL TRUTH is that State Street has been aggressively OUTSOURCING WELL-PAID jobs to INDIA, and that State Street's operational mode is to initiate CONSTANT LAYOFFS to support its senior executive's ASTRONOMICAL SALARIES. So students-dont be FOOLED by these low-level, low-paying part-time jobs that State Street is dangling in front of you. If you are hired full-time, State Street will treat you like a piece of trash just like the THOUSANDS of staff it has laid off over the years. These phony comments by Alison Quirk-State Street's HR executive-and Jay Hooley are just one big PR GIMMICK...so be smart and don't be fooled.