Northern Trust Reviews

Updated August 26, 2015
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Northern Trust President, CEO, and Director, Northern Trust Corporation and Northern Trust Company Rick Waddell
Rick Waddell
112 Ratings

Pros
  • Many roles offer great work life balance (in 120 reviews)

  • The work environment Is very light, despite demanding clients (in 32 reviews)

Cons
  • Management does not care about your home work life balance (in 12 reviews)

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

More Pros and Cons

250 Employee Reviews

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  1. Transitioning from traditional banking culture to contemporary

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Consultant In Corporate Group in Chicago, IL
    Former Employee - Consultant In Corporate Group in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Solid benefits; at-market compensation for support roles; still offer defined benefits (pension); matching 401k if targets met; compensation in revenue generating roles can be outstanding.

    Cons

    Old-school management (tell you how to do it); lack of empowerment / freedom to make choices; hierarchical (rank has its privileges); difficult to challenge the status quo or innovate.

    Advice to Management

    Stop placating to your "friends" if you want the business to change as drastically as you say you want it to. Your devotion to them (still) slows the speed to change. Compensate them and move them out.


  2. Great company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Homewood, IL
    Former Employee - Anonymous Employee in Homewood, IL
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Northern Trust (Less than a year)

    Pros

    NICE work environment . Friendly culture.

    Cons

    Consultants aren't given notice regarding contract dates.


  3. Analyst

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

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

    Pros

    stable, work-life friendly, vacation time, shuttle service

    Cons

    salary, management, career development, low bonuses


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  5. Contractors welcome

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

    Pros

    Very flexible, good employee benefits

    Cons

    Sometimes behind the times in technology


  6. Helpful (1)

    Support associate

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Negative Outlook
    No opinion of CEO

    Pros

    Northern's reputation in financial industry, family oriented, great benefits

    Cons

    Too much management that has never done the jobs they may now be overseeing, not enough opportunity for bonus' for support staff who are A player's instead of to those they support

    Advice to Management

    Recognize and compensate employees accordingly that know and do their job well, which they are the ones making management look good, too often promotions and compensations go to undeserving employees


  7. Fund Accountant

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Fund Accountant in South Chicago, IL
    Current Employee - Senior Fund Accountant in South Chicago, IL
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I have been working at Northern Trust (More than a year)

    Pros

    The Fund Accounting department at Northern Trust is very diverse and has been growing rapidly in recent years. This surge of the company toward becoming a global leader in fund administration and custodial services has resulted in a work environment that offers employees a great opportunity for internal movement. A rotation around the many segments of Northern Trust's fund servicing sectors will lead you to learn volumes about different types of fund structures, investment trends, reporting and disclosure requirements, etc. In summary, there is a lot to know in the world of Northern Trust fund accounting and it does take time and motivation to develop; nonetheless, a genuine dedication to your career and to your company will pay dividends at place like NT, which fuels itself off of a very strong internal network.

    Cons

    The nature of a fund accounting job consists of a great deal of independent work. As a result, I strongly believe that it is important for the company to foster employee interaction. Executive management once mentioned a goal of alleviating the isolation of different back office business units, but I think more could have been done to actually get the desired effect.

    Advice to Management

    Hold every single employee to a standard that is commensurate with their job description and salary. I'm sure it isn't always the easiest thing to do, but, in order to keep everyone motivated and engaged (and to avoid unnecessary conflict), make sure that the more proficient employees are not being dealt the brunt end of things due to others who are, say, less proficient. Unfairness in the workplace has been proven to be one of the greatest drivers of worker discontentment (and vice versa).


  8. Helpful (1)

    Tech Coordinator

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Tech Coordinator
    Current Employee - Tech Coordinator
    Doesn't Recommend
    Positive Outlook

    I have been working at Northern Trust full-time (More than a year)

    Pros

    Job Security, Easy to move around the company.

    Cons

    Low Pay, Few vacation days, no holidays, very manual procedures


  9. Private Banker

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

    I have been working at Northern Trust full-time

    Pros

    Nice culture, ethical, people try to do the right thing

    Cons

    Horrible technology, lots of lazy back office employees, complacency

    Advice to Management

    Mix up the management team - get people from other companies


  10. General

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Northern Trust full-time (More than 10 years)

    Pros

    The benefits are decent. Senior executives are willing to talk to you.

    Cons

    Managers aren't trained on how to be people managers. They also haven't been trained in guiding employees in career progression.


  11. Operations Specialist

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Recommends
    Positive Outlook

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

    Pros

    Good Benefits, hours, and coworkers

    Cons

    Your manager really wants to keep you where you are



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