Northern Trust

  www.northerntrust.com
  www.northerntrust.com

Northern Trust Reviews

Updated October 31, 2014
Updated October 31, 2014
515 Reviews
3.3
515 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
295 Ratings

Review Highlights

Pros
  • Culture that built a great reputation serving clients well and supports work/life balance (in 116 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.  

    Very good opportunities as a recent Graduate. Well known company that opens up opportunities with a lot of other firms

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

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

    Pros

    Very good work/life balance; you get bank holidays off as well as very generous time off/sick days/personal days/work from home opportunities.Well known company that opens up opportunities with a lot of other firms within the financial services industry.

    Cons

    Can get very boring with the monotonous work; You do the same things week in and week out. Depending on where you are, there is no real on-boarding training sessions... you get dropped in and are expected to know what you're doing.

    Recommends
    Neutral Outlook
    Approves of CEO
  2.  

    Good Place but lacks identity

    • 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

    Great people, well respected in industry, nice to have on resume. Allows for a work life balance and is relatively employee friendly.

    Cons

    I was in the investment management side and we completely lacked an identity. Compensation is somewhat low relative to the industry and this has hurt. Company is not sure what they want to be - indexer, active, manager of manger.

    Recommends
    Approves of CEO
  3.  

    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
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  5.  

    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
  6.  

    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
  7.  

    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
  8.  

    I have learnt a lot during my tenure here at NT and I have been able to learn the wider scope of the out sourcing busine

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vive President in New York, NY
    Current Employee - Vive President in New York, NY

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

    Pros

    NT provides end to end services to Investment Managers and it goes beyond trade processing and settlement.
    I have learnt about performance and valuation reporting, pricing, asset coding, client service reviews etc
    I work with Senior Executives at the Asset Managers as well as other levels of people within varaious organizations.

    Cons

    It is a challenge working with the shared services who are located overseas and my observation has been since they are further away from issues, they do not understand the urgency of issues.

  9.  

    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
  10.  

    Investment Systems Summer Intern

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Northern Trust

    Pros

    More laid back culture and dress at the Canal building
    Friendly people -- biggest pro
    Stable company with good leadership

    Cons

    monotonous work
    very traditional
    growth prospects are mediocre
    no commitment towards learning

  11. 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

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