Northern Trust

www.northerntrust.com

Northern Trust Reviews

Updated January 24, 2015
Updated January 24, 2015
557 Reviews
3.3
557 Reviews
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Northern Trust President, CEO, and Director, Northern Trust Corporation and Northern Trust Company Rick Waddell
Rick Waddell
320 Ratings

Review Highlights

Pros
  • Great place to work & great work life balance; especially during the tax season (in 120 reviews)

  • Decent work -life balance, good work environment and a good salary for a start (in 32 reviews)


Cons
  • Lack of effective work-life balance despite the fact that Northern says they promote the issue (in 12 reviews)

  • management in some divisions punishes employees for voicing concerns to senior management (in 18 reviews)

More Highlights

86 Employee Reviews Back to all reviews

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  1.  

    Stuck in the 1970's

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Northern Trust

    Pros

    Fairly predictable and easy work, easy hours

    Cons

    consultants not treated as equitable to employees

  2. 1 person found this helpful  

    Northern Trust Hedge Fund Services: Manager

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Northern Trust Hedge Fund Services: Manager in Chicago, IL
    Current Employee - Northern Trust Hedge Fund Services: Manager in Chicago, IL

    I have been working at Northern Trust full-time (more than an year)

    Pros

    Middle managers are given a great deal of responsibility and the opportunity to have a material impact on the entire division. Northern Trust benefits are competitive.

    Cons

    Company sells guarantees to clients that the company is not equipped to deliver. Further, they do not provide the resources or support to implement long term solutions. Upper management is relatively disconnected from middle management and staff, and the only transparency they have of the business is that which is pushed to them from the lower level. Management seems genuinely unconcerned with the shortfalls of the business and tends to only be reactive in strategy.

    Certain teams work low hours and low stress while others are stretched entirely too thin. Compensation starts out competitive, but you will never make big jumps internally.

    Advice to ManagementAdvice

    Quit stretching your teams so thin and focus on high value clients. Build out the platform to handle new targets and stop selling a la carte products that cannot be managed in a scalable fashion. Identify your key risk team members and make sure they are happy to avoid turnover.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  3.  

    Great place to start out your career - but don't stay long. They don't give pay raises or compensate well.

    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Northern Trust

    Pros

    Nice work/life balance. Good place to start when you are right out of college.

    Cons

    Poorly compensated. No career growth, no leadership. A good place to start when you are younger, but do not stay long.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5.  

    Awful

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - IT Project Manager in Chicago, IL
    Former Employee - IT Project Manager in Chicago, IL

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

    Pros

    - It's next to impossible to get fired.
    - If you're already established, low output requirements for decent pay

    Cons

    - Low pay for young people
    - Low mobility
    - Hypocritical pay for management
    - If you start low, it takes years of "market adjustments" to get you where you should be (raises capped at 10% of current pay, even if you're below market)

    Advice to ManagementAdvice

    You already know this, but start focusing more on your top tier young talent - no one wants to work for you past three years.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 3 people found this helpful  

    Chicago HQ did not support Northern California in terms of resources to expand relationships.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President
    Former Employee - Vice President

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

    Pros

    Bank has a long history of custody and investment management services, beginning in 1889. Company values work-life balance and confidentiality of client business.

    Cons

    Employees do not receive good training so reliance was based upon prior experience only. Resources to expand in selected regions outside of Chicago were not available. Expansion of target markets was taken only after years of research. Chicago HQ did not value relationship banking and did not provide resources, both dollars and technology to support growth.

    Advice to ManagementAdvice

    Better training, higher compensation, and resources to support business development goals are necessary to meet objectives.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7. 2 people found this helpful  

    Many of the very good and supportive managers don't exist anymore.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Northern Trust

    Pros

    Family work life balance and training provided.

    Cons

    Too many layers of management and unhappy workers within operations. Even management is unhappy and not great leaders. Many displays of favoritism and limited career growth to utilize education and work experience. Management only take cares of their favorite people and opportunities are not fairly given to each employee.

    Advice to ManagementAdvice

    Please display fairness to all employees regarding promotion and work distribution.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  8. 1 person found this helpful  

    Could be better but its not

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Consultant in Chicago, IL
    Current Employee - Consultant in Chicago, IL

    I have been working at Northern Trust full-time (more than 3 years)

    Pros

    benefits are good but when you have no money to go places its irrelevant

    Cons

    pay can be much better- better off leaving NT then coming back

    Recommends
    Neutral Outlook
    Approves of CEO
  9. 7 people found this helpful  

    Right place, wrong century.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Vice President in Chicago, IL
    Former Employee - Senior Vice President in Chicago, IL

    I worked at Northern Trust full-time (more than 10 years)

    Pros

    Nice people, highly moral organization, great community involvement, people happy to mentor, many long tenured employees.

    Cons

    Two classes of employees, those that have been around 20+ years and everyone else. Non-competitive from a comp standpoint, very average benefits and continuously getting less generous. Been in a cost cutting mode for years, especially in areas like banking and traditional custody business. Very set in its ways, constant movement of senior management means nobody is in a position long enough to be measured or accountable. Log jam of long tenured people in management makes it almost impossible to move up in certain areas of the bank. Many of the employees have given up trying, they simply do the minimum required and the organization seems ok with it. People aren't honest, not because they are liars but because they don't want to hurt feelings or upset anyone.

    Advice to ManagementAdvice

    You can probably turn the risk tolerance up a couple of notches and still be the most conservative bank in the country. HFS is a negative operating leverage loser, you are cutting other profitable areas of the bank to the bone to fund this business and to what end? Pay more attention to the people that are going to be the future of the bank. These people aren't happy and are leaving in bunches.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10. 3 people found this helpful  

    Frustrating

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Account Manager in Chicago, IL
    Current Employee - Account Manager in Chicago, IL

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

    Pros

    Stability, Opportunity for some, time-off for some

    Cons

    Company rewards the wrong people in my experience, management, pay, poor training

    Advice to ManagementAdvice

    Train managers and have less of them

    Recommends
    Neutral Outlook
    No opinion of CEO
  11. 3 people found this helpful  

    Struggling and failing to adapt

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President in Chicago, IL
    Current Employee - Vice President in Chicago, IL

    I have been working at Northern Trust full-time (more than 8 years)

    Pros

    Work-life balance, not very demanding, ancient computer systems are finally starting to be addressed, good reputation even though it's based on staying out of trouble which is easy to do if you don't do much

    Cons

    Terrible management - just had another round of musical chairs guaranteeing that they don't know how to do their jobs, coasting on past, extremely political, expect to grow sales while cutting staff, no opportunity for advancement, low comp relative to the market and getting worse

    Advice to ManagementAdvice

    Thin out the incredibly top-heavy layers of management that have no accountability and do not add to the bottom line

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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