Northern Trust

  www.northerntrust.com
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Northern Trust Reviews

Updated Jul 19, 2014
All Employees Current Employees Only

3.2 464 reviews

77% Approve of the CEO

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

Rick Waddell

(266 ratings)

64% of employees recommend this company to a friend

Review Highlights

Pros
  • Culture that built a great reputation serving clients well and supports work/life balance (in 100 reviews)

  • Good work culture, people are friendly, and the salary for fresh grads is competitive (in 26 reviews)


Cons
  • Management does not care about your home work life balance (in 9 reviews)

  • management in some divisions punishes employees for voicing concerns to senior management (in 16 reviews)

More Highlights
73 Employee Reviews Back to all reviews
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    • Culture & Values
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    • Senior Management
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    3 people found this helpful  

    Rec and Control. Awful group. Awful hours. Get in your silo and keep your mouth shut.

    Hedge Fund Operations Consultant (Former Employee) Chicago, IL

    ProsCompensation is decent based on industry standards. The insurance benefits are decent but still run $500 for family BCBS. Training is available, if you ever have a desire to spend time at work beyond the 10-12 hour work days. Good opportunity if you're looking to add a high volume administrator to your professional experience.

    ConsHedge Fund Services has carried on Citadel's work culture. If you're not Citadel / Omnium legacy, your chances of inner-department promotion are low. Management does not care about your home work life balance. You will work 10-12 hours a day in this group without blinking. The department is full of 20somethings that live walking distance to the office, and drink away their troubles together late into the night. If you have a family or do not live in the city, you should think twice about taking a role in this department. You will not get home before 8pm most nights. There are very few actual perks to this job. The office is sparsely appointed for employee comfort. Promotional opportunities usually require a transfer to a different group. 100% Silo work. Extremely high turnover, and you will be expected to pick up the slack.

    Advice to Senior ManagementConsider giving a crap about your employees. What kind of company has just 1 coffee machine and 1 fridge for a floor of over 200 employees? You aren't Citadel, no matter how much you want to be. Consider adopting the rest of Northern Trust's employee culture.

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

    • Culture & Values
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    • Career Opportunities
    • Approves of CEO

     

    Steady Bank with limited opportunity to grow

    Anonymous Employee (Current Employee)

    ProsVery stable. Good benefits: 401k matching, pension, HSA contribution, good dental and vision coverage. Executives are very open/approachable.

    ConsTraining is non existent but where it exists it is very basic. Majority of people working there just want to do the minimum to get by. There are a few who care, and they are worked to death since they are the only ones who can get the job done. Promotions depend more on department than quality of work.

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

    • Culture & Values
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    • Disapproves of CEO

    1 person found this helpful  

    Painfully political

    Anonymous Employee (Current Employee)

    ProsJob stability - many people have worked all their adult lives at this company.

    ConsNo effort is ever good enough. Salaries are lower than other companies, and raises are meted out in pennies. Politics is ridiculously out of control, and the only criteria for advancement. Diversity is a catch phrase, but the reality is a work environment that is highly discriminatory and condescending in Northern's treatment of lower level women, older people. Token diversity is rampant, which is just as insulting as overt racism. The atmosphere is cold, stiff, intolerant, and non-inclusive. Lots of blame throwing. Life long employees are celebrated dead weight who spend more time working the system than adding productive value or ideas. People do not smile much in this region.

    Advice to Senior ManagementI remember once meeting Rick Waddell, who did not say one word but looked at me like I was beneath him and walked away. That said it all.

    No, I would not recommend this company to a friend

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    • Culture & Values
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    Northern Trust

    Project Manager (Former Employee) Chicago, IL

    ProsPay was decent. Location is great. Technology is mostly current.

    ConsNot very friendly people. They are too impressed with the on boarding process to stand back and look at it from an outsider's point of view.

    Advice to Senior ManagementBecome more in touch with the staff. Rotate first level management personnel.

    No, I would not recommend this company to a friend

    • Culture & Values
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    • No Opinion of CEO

    1 person found this helpful  

    "Old School" Firm

    Vice President (Current Employee) Chicago, IL

    ProsCulture that built a great reputation serving clients well and supports work/life balance. Senior management is extremely accessible and promotes internal networking.

    ConsSlow moving; not receptive to change. Overweighted with middle management that is out of touch with what is going on in the field. Lack of accountability.

    Advice to Senior ManagementPromote a culture based on meritocracy. Stop relying on the old ways of doing things and recognize the changing industry dynamics that are occurring and adapt accordingly.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Good working environment, dinosaur bosses

    Anonymous Employee (Current Employee)

    ProsPositive work life balance. Yes, Bankers Hours still exist. (Most are 8-4 with a 90 minute lunch)
    Some smart people. It varies widely
    Good benefits. Sometimes to good for the company (see cons)
    The bar is set pretty low. Mediocrity is rewarded and encouraged because it gets work done and is non threatening to management.
    Never rushed.
    Recognition for any time put in working past normal hours.

    ConsManagement insulates itself from the workers.
    Old School.
    MANY people are there to finish up their pension time and retire. Veterans spend more time insulating themselves and consolidating their position than they do working. Often spending cycles doing CYA rather than something productive.
    Meetings drag as people seem more concerned about filling the time than getting something done
    Mid level managers can take WEEKS to reply to an email just to display their power even if it is costing the company thousands of dollars a day. Not an open door environment
    Bottom Line: Management could be in a coma for three weeks before anyone would notice.

    Advice to Senior ManagementBeing known as a conservative, slow to change, no risk, stoic bank is your trademark. And it works for your reputation.
    But it REALLY sucks as a management style.
    Real Advice: Buy out some of the dead wood with early pensions and get some talent in. It will pay off pretty fast.

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

    1 person found this helpful  

    Conservative company with poor management

    Consultant (Current Employee) Chicago, IL

    ProsWork life balance, cheap parking at south loop

    ConsLack of appreciation for talents. Poor management focusing only on cutting cost. Very short sighted management at senior level.

    Advice to Senior ManagementBest way to achieve higher productivity isn't making wrong people take on extra tasks nor downsize one area. But to compensate and appreciate the talents before they start being productive for another company.

    • Culture & Values
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    • No Opinion of CEO

    4 people found this helpful  

    Nice people, but Unequal pay and workloads

    Derivatives Analyst (Current Employee) Chicago, IL

    ProsVery nice staff, many roles allow a very laid back environment (can also be a con). Highly regarded firm in the financial sector. Many roles offer great work life balance.

    ConsSizable pay differences for same roles. Poor compensation for time and skill sets required. Little room to advance internally. Highly bureaucratic middle management with poor knowledge base. High turnover. Work most weekends, 55+ hour work weeks. Poor bonus structure in operations. Very dated technology with little investment in this space. Most operational jobs are being relocated to India, poor job security in these roles. Incompetence and poor work ethic is acceptable.

    Advice to Senior ManagementTo avoid turn-over and the loss of valuable employees compensation needs to be adjusted to meet the market. Consider removing employees which consistently make mistakes.

    No, I would not recommend this company to a friend

    • Culture & Values
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    • No Opinion of CEO

    3 people found this helpful  

    Poor Pay, Refusal to Promote from within

    Anonymous Employee (Former Employee) Chicago, IL

    ProsCo-Workers (northern gets really good talented people only to treat them like dogs)

    ConsCompany culture, (only folks fitting into a physical mold are hired for client facing positions), pay was horrible for the level of skills required, some managers

    Advice to Senior ManagementLook at the numerous HR reports and actually do something about it.

    No, I would not recommend this company to a friend

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    1 person found this helpful  

    Slow

    Analyst (Current Employee) Chicago, IL

    ProsMore life than work balance

    ConsReady to return and work at the same time? This place is for you.

    Advice to Senior ManagementGet rid of Lotus Notes

    No, I would not recommend this company to a friend

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