Year Up & State Street Partnership
Published November 2016/Updated March 2019
Written by Year Up
In 2003, State Street Corporation recognized that not all jobs required a college degree. They had been recruiting 4-year college graduates for middle-skill roles, but found employee retention to be a challenge. At the same time, they also wanted to tap into non-traditional talent pipelines. State Street decided to partner with Year Up to see if the program was a solution to their needs.
State Street initially hosted several IT interns at their Boston headquarters and quickly saw benefits in employee retention and engagement. They then piloted a custom track in Fund Accounting, expanding the relationship to provide a reliable pipeline of middle-skill talent. The financial operations pilot, and the years following, proved that the partnership was not only good for corporate responsibility but also an investment with clear returns in talent acquisition and retention.
Today, Year Up’s graduates are a significant component of State Street’s middle-skill talent pipeline—State Street has hosted 1,1400+ Year Up interns and hired 780+ graduates since the partnership began. With the opening of an on-site training center at State Street’s operations location in Quincy, Year Up interns are now trained specifically to meet State Street hiring needs. This joint program is a testament to State Street’s commitment to building a strong local workforce and Year Up’s ability to develop diverse talent.
OUTCOMES & IMPACT
1140+ Interns Hosted
780+ Graduates Hired
“Our partnership with Year Up simply makes good business sense. We’re increasing our ability to fill entry-level positions, and increasing retention and engagement—all while contributing to the economic well-being of our communities.”
Mike Scannell, Head of Corporate Citizenship, Talent Acquisition, Global Inclusion, State Street
“Working at State Street was the platform I needed to start my career, build experience, and grow my network. My fresh and innovative ideas, in addition to my skillset, bring a refreshing perspective to my team. New perspectives drive change and without change there is no growth.”
Jodeliz Cora, Year Up Intern at State Street, 2012, State Street Employee, 2012-Present
About the Partner
State Street Corporation is the second oldest financial institution in the United States, serving more than 100 global markets and responsible for 11 percent of the world’s assets.