Northern Trust Reviews in Chicago, IL

Updated August 28, 2014
Updated August 28, 2014
526 Reviews

3.3
526 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Northern Trust President, CEO, and Director, Northern Trust Corporation and Northern Trust Company Rick Waddell
Rick Waddell
296 Ratings

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

244 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    Great organization

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

    I have been working at Northern Trust as a contractor for more than a year

    Pros

    Great work life balance,Great people,pension

    Cons

    Not the best salary,slow decision making

    Recommends
    Positive Outlook
  2.  

    Decent Experience/Great First Career Step

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

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

    Pros

    Northern Trust carries strong reputation among SuperRegional Banks, and has been around for quite some time. As a first career, any entry level position is a step up on your resume. Benefits are great, and salary is manageable.

    Cons

    Salary isn't something that's a strong point here, seems like all entry level positions are atleast 10% under the market norm. Management has too many similar roles paying VP's and Sr VP's to do Consultant/TC roles. The TL position is supposed to carry management duties, however most are overriden by the Team Manager, so role is basically a TC without overtime.

    Advice to ManagementAdvice

    Cut down on management and pay the entry-level partners a better starting salary and maybe turnover wont be as terrible.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Great people, great environment, could use some modernizing

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

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

    Pros

    Incredibly helpful coworkers and superiors

    Cons

    Technology and office perks are way outdated

    Advice to ManagementAdvice

    Upgrade your technology and office perks.

    Recommends
    Neutral Outlook
    No opinion of CEO
  4. We want your feedback – Are these company reviews helpful to you?  Yes | No
  5. 2 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 for 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
  6.  

    Stable and Neutral.

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

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

    Pros

    Culture, Work-Life Balance, Intelligent Colleague. Always opportunities. Great if you are more seasoned in your career and have family responsibilities. Stable.

    Cons

    Compensation. It's common knowledge that Northern pays ~20% below market rate when it comes to salary (No matter what the position). HR will pitch "work life balance" and "culture", which is all well and good; but if you are young, motivated, and looking to earn a wage commensurate with your work product, Northern is not the place. On more than 1 occasion I have had well respected managers advise that "You are better off working here for a year/two, leave to make your money elsewhere and then come back". That certainly is discouraging when overall it is a great place to work.

    Advice to ManagementAdvice

    If management expects to remain competitive and retain top talent, they better open up their pocket book, bringing the average salary AT A MINIMUM TO MARKET VALUE. It doesn't have to be extreme or gaudy, just a competitive wage relative to the rest of the major competitors in our market.

    Recommends
    Neutral Outlook
    Approves of CEO
  7. 1 person 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 for 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
  8.  

    So far so good. Big, reliable, safe bank.

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

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

    Pros

    culture and peple are great

    Cons

    Compensation is not the best

    Advice to ManagementAdvice

    Hve not been here long enough to form an opinion

    Recommends
    Positive Outlook
    No opinion of CEO
  9.  

    Sr. Consultant

    Former Employee - Senior Consultant  in  Chicago, IL
    Former Employee - Senior Consultant in Chicago, IL

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

    Pros

    Stable company and very conservative views.

    Cons

    Middle management is terrible in that they don't underastandf the ole of the teams they are overseeing. They aren't expected to know the job just manage people.

    Advice to ManagementAdvice

    Middle managers need to understand what the groups they are overseeing actually do.

    Recommends
    Neutral Outlook
    Approves of CEO
  10. 1 person 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 for 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
  11. 1 person found this helpful  

    Very fast paced environment. Lots of work

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

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

    Pros

    Management is open to training.

    Cons

    Senior Management - friendly, easy to get along with. Salary as an employee is too low.

    Advice to ManagementAdvice

    Increase employee pay.

    Recommends
    Positive Outlook
    No opinion of CEO

Worked for Northern Trust? Contribute to the Community!

Your response will be removed from the review – this cannot be undone.