Northern Trust

  www.northerntrust.com
  www.northerntrust.com

Northern Trust Reviews

Updated October 15, 2014
Updated October 15, 2014
510 Reviews
3.3
510 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
293 Ratings

Review Highlights

Pros
  • Culture that built a great reputation serving clients well and supports work/life balance (in 115 reviews)

  • The work environment Is very light, despite demanding clients (in 29 reviews)


Cons
  • Lack of effective work-life balance despite the fact that Northern says they promote the issue (in 10 reviews)

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

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Friendly, supportive, flexible workplace, but a behemoth to try to change if your job calls for being a change agent

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

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

    Pros

    Great benefits and flex work arrangements offset by lower salaries for majority of staff. Numerous benefits and accommodations for working mothers. Respectful and supportive attitudes towards alternative lifestyles and minorities. Staff is mostly helpful and friendly, collegial atmosphere prevails, information sharing is much better than typical of the East Coast firms. The teamwork and we-are-in-it-together attitude varies by business area, depending on management. Offers lots of great training programs.

    Cons

    The culture can be insular and entrenched in the old ways of doing things from mid-level management down. "We've been around for 120+ years, and did well for ourselves, thank you very much. We've always done it this way, so why would we do it any differently?" is the prevailing attitude. Even if Executive leadership is open to change, it does not trickle down to the masses. They do bring outsiders in supposedly for their industry experience, but then tend to disregard their previous experience...

    Some dead weight still remains, although they've been trying to clean house since '08 recession.

    Advice to ManagementAdvice

    Accountability. Make example of people who fall short of expectations.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  2.  

    Exchange Traded Funds Analyst

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

    I worked at Northern Trust part-time (less than an year)

    Pros

    Great people, great atmosphere, great teamwork, mutual feedback

    Cons

    Sticklers on time, strict dress code

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Not too many layoffs.

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

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

    Pros

    Old school values, very conservative (in a good way), sensitive to personal issues, family issues.

    Cons

    There is never any money for training, travel or conferences. The consequence is that employees are not up-to-speed on latest trends, technologies, competition, etc. except for what they personally learn.

    Advice to ManagementAdvice

    Invest in training your employees.

    Recommends
    Positive Outlook
    Approves of CEO
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review
  5.  

    Overall a great company to work for!

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

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

    Pros

    The benefits are pretty good. Opportunities to grow if you really want it. They offer a lot of cross-training and encourage employees to move around to other positions to grow. Work/life balance is good.

    Cons

    Need to stop outsourcing. Some days you feel like your department will be up and gone in no time.

    Recommends
    Neutral Outlook
    Approves of CEO
  6.  

    Employee friendly....

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

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

    Pros

    Work life balance, decent salary for expectations.

    Cons

    CEO needs to be more strategic and seems to be playing catch up with the realities of the economy and industry.

    Advice to ManagementAdvice

    Stability is great, but people need to feel more empowered.

    Recommends
    Neutral Outlook
    Disapproves of CEO
  7. 1 person found this helpful  

    An organization with potential...

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

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

    Pros

    For the most part, the people (or partners, as they call them) are hard-working, conscientious and very approachable. The level of intelligence is high and the knowledge of the industry - be it investment management, credit analysis and underwriting, and estate planning - is as good as it gets. Benefits are solid and the work/life balance issue is good, though producers may find that the amount of time required to get the deals done can require operating on CST...meaning 6:00am credit presentations.

    Cons

    Personal growth is a pure function of revenue generated. If you want to remain in the good graces of management, year over year revenue growth is mandatory, regardless of the business cycle. Also, as the Chicago market is fully saturated and can barely support single-digit revenue growth, the expectation is for California to be the driver of revenue and bottom-line growth. However, a disproportionate level of the retained earnings continues to be invested in the Chicago region which, in my book, does not support a forward-thinking rationale. Keep in mind that what works in the Midway doesn't necessarily work on the West Coast. There's a reason why people live here. Understand the differences and orchestrate the business model to cater to that mindset.

    Advice to ManagementAdvice

    Embrace change and understand that 25-30 year employees are insulated from what's happening in the overall marketplace. An infusion of contrarians forces the group-think to be a tad more insightful and to better understand that just because someone doesn't agree with your dogmatic nature, they can be an asset to the organization.

    No opinion of CEO
  8. 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
  9.  

    Overworked

    • 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 full-time

    Pros

    Will learn a lot (obviously)

    Cons

    But nothing no other accountant knows. Underpaid

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10.  

    Consultant

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

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

    Pros

    Great colleagues and networking opportunities

    Cons

    Management doesn't always support career growth or involvement in networking opportunities

    Advice to ManagementAdvice

    Better support of career goals and advice

    Recommends
    Neutral Outlook
  11. 1 person found this helpful  

    Not a bad place to work

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

    I have been working at Northern Trust as a contractor (more than an year)

    Pros

    People are generally friendly .

    Cons

    Like most banks , their IT processes not very well organized, although this would vary by the business unit . There is excessive reliance on onshore foreign resources from companies like TCS, Hexaware and Cognizant.

    Advice to ManagementAdvice

    Alignment between business and IT could be improved. A more structured and better communicated Enterprise Architecture would probably help.

    Recommends
    Negative Outlook
    No opinion of CEO

Work at Northern Trust? Share Your Experiences

Northern Trust

 
Click to Rate
or

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