Pros
When they are available, you can get true entry level positions without prior experience. Can't beat the amount of vacation time (3 weeks starting, increases to 4 after year or two. Option to "buy" an additional 40 hrs.) Don't have to wait for vacation to accumulate to use it. Some teams have flex work options (work from home up to 3 days a week if you are an Associate II). Insurance options are ok. All high deductible options, but State Street contributes to your HSA each year. 401k matching up to 6% after 1st year. 2 paid vacation days to volunteer somewhere each year. Will match contributions to some charities, and will pay a grant to some organizations if you volunteer 16 hrs.
Cons
Lots of outsourcing to India. Splits teams up, causes increased work load and stress. This has hurt employee morale lately. Little time for performance reviews and comradery like there used to be. Also causes confusion with structure, (Ex: Managers keep changing). I feel this has resulted in less opportunities for advancement as domestic teams get smaller, there is no need for as many higher level employees. This has most likely also affected the amount of entry level positions available as the teams in India do a lot of the simpler tasks. Raises and/or bonuses are not guaranteed and are not received every year. **Due to the vacation time available, I would still recommend. You will just want to be aware of the above issues going in.