Northern Trust
3.2 of 5 416 reviews
www.northerntrust.com Chicago, IL 5000+ Employees

Northern Trust Reviews

Updated Mar 12, 2014
All Employees Current Employees Only

3.2 416 reviews

                             

76% Approve of the CEO

Northern Trust President, CEO, and Director, Northern Trust Corporation and Northern Trust Company Rick Waddell

Rick Waddell

(243 ratings)

63% of employees recommend this company to a friend
30 Employee Reviews Back to all reviews
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Not performance oriented with respect to investment management

Equity Portfolio Manager (Former Employee)
Chicago, IL

I worked at Northern Trust full-time for more than 3 years

ProsLocated in good city (Chicago).

ConsNot performance oriented; incentives for employees not aligned with investment management performance.

Advice to Senior ManagementNeeds to focus on funds performance

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Northern Trust is cruel for what they did to me

Investment Associate (Former Employee)
Chicago, IL

I worked at Northern Trust full-time for less than a year

ProsPay is good.
Opportunity to work in financial industry

ConsLiars
Fake People
Waste a lot of time

Advice to Senior ManagementDon't lead prospective employees on FOR EIGHT WEEKS.
Have the decency to return calls.

No, I would not recommend this company to a friend

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4 people found this helpful  

Notorious for Poor Management and Compensation

Trust Advisor (Former Employee)
Chicago, IL

I worked at Northern Trust full-time for more than 8 years

Pros- Job Security and minimal job stress (for most groups)
- Great for those approaching retirement and/or focusing on family > career

Cons- Extremely conservative work culture (in every sense of the word) - not conducive to advancements in technology and/or creativity & "pass-the-buck" mentality
- Job security (very difficult to get fired + very minimal frequency of layoffs) coupled with poor compensation/performance incentives (<1% bonus) results in widespread lackadaisical workforce.
- Minimal opportunities for career growth - promotions are seldom and typically given based on tenure rather than performance.
- Widespread incompetence and arrogance from management that is extremely disconnected from the realities of the day to day responsibilities of subordinates - often leads to disproportionate workloads among colleagues and low employee morale.

Advice to Senior ManagementGet rid of the poor management and dead weight running rampant throughout the organization. They are tarnishing the brand of what used to be a great company.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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2 people found this helpful  

Horrible

Analyst (Current Employee)
Chicago, IL

I have been working at Northern Trust full-time for more than a year

Pros3-weeks vacation.
Shuttle bus service.
Nursing room.

ConsManagement only promotes people that they like and favor.
Section managers are abusive and more sadly their behavior is supported by upper management.
Hard-working employees are not rewarded fairly.
The salary is low and years migth pass before you get a raise, if any.
The culture is conservative. People doesn't embrace change.

Advice to Senior ManagementWork on strategies to empower, engage and reward hard working employees.

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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5 people found this helpful  

Worst place I've ever worked in my life

Senior Vice President (Former Employee)
Chicago, IL

I worked at Northern Trust full-time for more than 5 years

ProsIf all you want to do is dress up nice and brown-nose, you can probably cruise for years here. Could be a decent start for a young grad for a couple years.

ConsWhere do I start... passive-aggressive culture, in-bred, rewards conformance, not performance. In 26 years of banking, working at a number of large institutions, I have never experienced such a horrible culture like that at Northern Trust. At senior levels, it is brutally political, usually for no good reason. Northern Trust = Hunger Games

Advice to Senior ManagementResign -- give up your jobs to those who are actually qualified to run a bank!

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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3 people found this helpful  

Stay as far away as you possibly can!

Analyst, Institutional Fund Accounting (Former Employee)
Chicago, IL

I worked at Northern Trust full-time for more than a year

ProsIt has a respectable name in the industry and looks decent on a résumé.

Cons~Terrible management! They openly communicate that they don't care about any of your concerns and show arrogance along the way.

~Micro management

~Lack of trust in employees - they accuse employees of wrongdoing without any proof and treat them terribly.

~No respect

~Too many office politics and affairs. It seems like everyone just sleeps around with each other.

~Unreasonably long work hours

~TERRIBLE PAY! It's almost an insult.

~They look for reasons to not pay out the pathetic bonuses.

~Raises are pathetic and also a slap in the face. Someone actually got a $400 raise so you do the math.

~Promotions are no more than a title change. Salary, bonuses, privileges and hours are not affected.

~Indecent quality staff - majority of the people don't even seem like educated, classy people with solid experience.

~CRAZY TURNOVER!!! My department lost an average of 4 individuals per month. Hiring was constantly going on because people were constantly quitting. Majority of the talented employees found better opportunities and left the company as soon as they could.

~Outdated technology

~Very cheap company. They don't even provide free coffee.

Advice to Senior Management-Listen to your employees and actually try to make them happy every now and then.

-Stop dumping 3-4 people workload on one employee and not pay them accordingly. They will most likely resign.

-Have manager to team or manager to employee meetings frequently and communicate with them instead of keeping them in the dark.

-Stop trying to steal everyone's bonus. Most employees are hardworking individuals trying to make ends meet.

-Drop the arrogance. Everyone is a human being and deserves the same level of respect.

-Stop abusing your power.

-Update the technology.

-Fairly compensate people for their time and business.

No, I would not recommend this company to a friend

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2 people found this helpful  

Working for the Gray Lady of La Salle Street

Analyst (Current Employee)
Chicago, IL

I have been working at Northern Trust full-time for more than 5 years

ProsStability. Enjoy your job because it won't change for thirty years.

ConsThere is no chance for advancement and rampant nepotism.

Advice to Senior ManagementPromote from within. Managers have little to no understanding of what their employees are doing day to day.

No, I would not recommend this company to a friend

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Horrible, steer far from this place

Consultant (Former Employee)
Chicago, IL

I worked at Northern Trust as a contractor for more than 3 years

Prosthis place will encourage you to drink and smoke more frequently

Consfar too many to list. 24/7 work environment, non existent 'work/life balance' which is a serious joke. People who started here and continue to rot here. You get promoted overnight if you're caucasian, or 'political'. Hard work isn't recognized, management doesn't back your play. Negative people who have all the time on their hands to gossip 24/7.

Advice to Senior Managementstop rewarding political and negative managers, and ignoring the worker bees who work hard.

No, I would not recommend this company to a friend

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2 people found this helpful  

Too conservative and does not embrace creativity or change.

Senior Investment Risk Analyst (Former Employee)
Chicago, IL

I worked at Northern Trust full-time for more than a year

ProsStability. Many people stay for their entire career.

ConsToo many to list but infrastructure and software are outdated. Political and bureaucratic environment. No incentives or reward for hard work.

Advice to Senior ManagementYou should look more to young talent and embrace new ideas. Compensation levels should be higher to attract the best. NTGI's investment strategy should be reconstructed as returns are sub par.

No, I would not recommend this company to a friend

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Good name, out dated tech and mindset

Analyst (Current Employee)
Chicago, IL

I have been working at Northern Trust

ProsBenefits and time off are fairly decent. Opportunities to take classes offered by company in various subjects if you want.

ConsTechnology very outdated, servers crash often. Jobs at the fund center very monotonous and not a lot of growth opportunity. Pay and bonus very very low compared to industry. Lots of people content to stay in same position, no passion. Very unmotivated middle management, like to have a lot of pointless meetings just to seem productive. Lots of micro managing.

Advice to Senior ManagementPay more, motivate people, hire qualified people. Focus less on having meetings about meetings. Update the technology so productivity isn't hampered.

No, I would not recommend this company to a friend

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Glassdoor is your free inside look at Northern Trust reviews and ratings — including employee satisfaction and approval rating for Northern Trust CEO Rick Waddell. All 30 reviews posted anonymously by Northern Trust employees.