Gender Pay Gap Report
UK Gender Pay Gap Report
Read our 2023 Gender Pay Gap Report
Read our 2022 Gender Pay Gap Report
Read our 2021 Gender Pay Gap Report
Read our 2020 Gender Pay Gap Report
Read our 2019 Gender Pay Gap Report
Read our 2018 Gender Pay Gap Report
Read our 2017 Gender Pay Gap Report
Inclusion and Diversity
We strive to create an environment where our diverse backgrounds and experiences contribute to the success of our employees, as well as the success of the company.
Developing inclusion and diversity goals that cultivate this environment is a learning process and our approach continues to evolve. We focus on:
- Establishing our leaders as champions of inclusion and diversity to convey the importance and business value of a diverse workforce.
- Building a sustainable pipeline of diverse talent for leadership positions.
- Implementing a clear standard to hold leaders accountable for creating a diverse workforce and behaving inclusively.
Nurturing inclusivity also requires a strong framework for employees to connect and we do this through our employee affinity groups. Open to all employees, we have 24 networks with more than 110 chapters globally. In the UK these include UK PRIDE & Friends, Professional Women’s Network, Race and Ethnicity network, Families network and NextGen. They promote diversity awareness and education, offer volunteering opportunities, career development and cultural expression.
Everyone, at all levels of the organisation, has a role to play in helping to build and sustain a culture of inclusion and diversity.
Corporate Citizenship
Active engagement in our local communities is one of our fundamental values. Through volunteering, employee engagement programmes and our grant-making arm, the State Street Foundation, we’ve supported the communities we operate in for more than 40 years.
Our Matching Gifts Program recognizes the charitable contributions made by our employees by monetizing volunteer time (DoMore), matching financial donations (GiveMore) and supporting individual fundraising efforts (CollectMore).
Modern Slavery Act Statement – 2021
Read State Street's Modern Slavery Act Statement for 2021.
UK Money Markets Code of Conduct
State Street’s EMEA securities finance team has signed the Bank of England’s, UK Money Markets Code.
The principles of the Code, which outline the standard and best practice of deposit, repo and securities lending markets, align very closely with our own business. By signing our statement of commitment to the Code, we take an important step toward rebuilding trust and integrity within money markets.
State Street’s signing of the Code is also particularly significant given the firms’ overall influence as a Global Systemically Important Bank.
State Street's statement of commitment is available upon request.
Women in Finance Charter
At State Street we believe our differences make us stronger, which is why inclusion, diversity and equity (IDE) remains a key focus of all areas of our business. As a global organisation and leader in financial services State Street has the opportunity and responsibility to actively promote positive change in the IDE space. Fostering an environment that encourages authenticity, empowerment and a sense of belonging among our employees is essential to our success both internally and to our clients.
As we focus on actively driving progress towards greater equity and social justice within our business we encourage our clients to do the same. One example is our Fearless Girl campaign developed to draw attention to a simple truth that companies with more diverse boards perform better. We have advocated for companies to appoint more women as well as increase ethnic diversity to their boards since we launched the campaign in 2017.
We are committed to advancing progress against our goals. While we made positive progress over the past five years in six of the eight goal categories, as of Q1 2023, we accomplished five out of the eight goals. This includes surpassing our five-year goal at all levels in the US employees of color demographic. Also, we have achieved representation for women globally at the SVP level, continuing to make incremental progress. Another way we are making progress is by continuing to lean into our 10 Actions Against Racism and Inequality. We developed these 10 Actions to confront inequalities and build equity into our workplace and business, paying specific attention to our talent pipeline of Black and Latinx employees and candidates. We are continuing to work toward full achievement of our goals and transparently reporting on our progress. In the coming months we will be working to establish longer term goals that include our broader representation priorities, and are inclusive of other dimensions of diversity.
We understand the importance of having a diverse talent pipeline and have implemented plans to improve our efforts. Additionally, we have enhanced our diversity hiring processes to make progress toward our aspirational diversity goals. This includes having diverse candidate slates for MD and above roles, as well as having diverse interview panels.
Part of our challenge is to engage every segment of our workforce and embed IDE into our everyday decision making. To boost accountability we have added IDE considerations to performance goals for all managers. At their annual evaluations leaders must demonstrate what they have done to drive more inclusive and equitable outcomes for all.
Our inclusive and diverse culture defines who we are. With employees around the world, we know that our differences are what make us a stronger company. We are committed to developing an environment that offers equal opportunities to individuals with distinctive backgrounds and unique perspectives.