Northern Trust Reviews

Updated July 30, 2015
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Northern Trust President, CEO, and Director, Northern Trust Corporation and Northern Trust Company Rick Waddell
Rick Waddell
374 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

673 Employee Reviews

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  1. Helpful (3)

    75% Incompetence rate amongst Northern Employees

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

    I have been working at Northern Trust

    Doesn't Recommend
    Approves of CEO
    Doesn't Recommend
    Approves of CEO

    Pros

    Pension and 401(k) are the only upsides.

    Cons

    Northern Trust is extremely top heavy and prejudiced towards GOLD program kids and corporate politics. Turn over rate is extremely high so you constantly run into problems with accounts that were never solved because the analyst left the company. Pay range is extremely depressed compared to other companies. DO NOT WORK HERE!

    Advice to Management

    Quit trying to micro manage


  2. Helpful (3)

    Forgotten!

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

    I have been working at Northern Trust

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    Pros

    Teller dept provided security during this economic hard time.

    Cons

    Micro-manage to the tenth power! It is evident that management never took any "How to manage courses." Management speaks down to the team. I recall our regional saying that “we are lucky to have jobs” how professional is that. During monthly reviews the manager makes everything sound peachy cream. Once you receive your yearly review there is a list of things that were never mentioned. You work hard, go home stressing and try to retain a positive attitude for days to come. When majority of the tellers did not receive a 3 or better on there reviews something is wrong! This is intentionally done to hold people back. At the beginning management makes it appear as though they are more than willing to help you advance your career and once they see your potential and will to want more, a wrench is thrown in your path. This is the most stressful place I have ever worked. Taking on daily responsibilities, but yet still not recognized. I have a Bachelors degree and currently going to school for my Masters. How much further can one develop as a teller!? No room for advancement in this dept. Designed to fail! It’s a job, not a career.

    Advice to Management

    First understand the process of our daily duties and become proactive instead of reactive. Have an open mind and try to understand that most people are content with where they are, but those who are ambitious, love change, have a good work ethic and over qualified assist them with obtaining their goals. I speak for the team when stating that management has not been loyal to their subordinate’s. The team does not trust management. Learn to talk to us not at us. Your team should never fear their superior nor should management use fear as a tactic.


  3. Helpful (2)

    The Dowager of Wall Street...actually, just a senile dowager!

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

    I have been working at Northern Trust

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    Pros

    Reasons are very few and far between...decent amount of benefits offered (health, dental, vision, pre-tax commuter discount, 401k...all at discounted employee cost however). Stable place to work, almost takes effort to get fired. Some semi-intelligent people, and extremely few smart people.

    Cons

    Too many to list....management is a joke; any fat donkey can become a Second VP as long as they have been here for more than 25 yrs+. Too many people without college degrees, causing overall decline in employee intelligence. No reward to younger, talanted individuals. Prehistoric procedures rampant...equipment (fax machines and such) from the 1990's still in use. Very poor level of employee appreciation in terms of compensation or even team building activities. Training does not exist. Most duties could be automated by a computer!

    Advice to Management

    Hire intelligent college grads, and pay them at least average salaries. Remove all the excessive divisions and foolish managers and second VP's. Figure out how computers can help make things MORE efficient and replace entire business units with super computers. As stated by others...cut the dead weight...there is too much of it. The company has been around for over 120 yrs and yet is still traded on NASDAQ...so maybe not be so cautious and expand business to extent where NYSE is an option? (not truely the most essential tidbit, but still worth mentioning)


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  5. Helpful (1)

    A place to start your career

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

    I have been working at Northern Trust

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    Pros

    Ok for an entry level job. You will get a broad view of back office investment management.

    Cons

    Management does not support individuals moving internally. Top performers are promoted to keep them in their current department so that they can not move internally. Unprofessional work environment.

    Advice to Management

    Too many incompetent managers because they never leave Northern Trust. Scale back headcount and increase pay.


  6. Helpful (3)

    Too many idiots in management positions

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

    I have been working at Northern Trust

    Doesn't Recommend
    Approves of CEO
    Doesn't Recommend
    Approves of CEO

    Pros

    vacation, work life balance, some security

    Cons

    Highly incompetent middle management. Highly unqualified and untrained to do their jobs. Many are thoroughly unprofessional. Ols boys club is hard to get rid of. Need proper connections and networking to get anywhere in the organization. HR is incompetent in addressing any issues regarding employee's unprofessional behavior.

    Advice to Management

    God bless


  7. Helpful (1)

    Great job security, below average compensation.

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

    I have been working at Northern Trust

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    Pros

    Good job security, good work life balance, good benefits, relatively low stress.

    Cons

    Low salary to the point where it can be insulting. 1-2% annual raise, 0-2% annual bonus. Very political. Difficult to grow. High turnover. Low motivation.

    Advice to Management

    Create incentives/rewards for exceptional performance to decrease turnover. Provide employees with more job autonomy, better training, and opportunites in order to jump start motivation.


  8. Helpful (1)

    Go figure

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

    I have been working at Northern Trust

    Doesn't Recommend
    Approves of CEO
    Doesn't Recommend
    Approves of CEO

    Pros

    Strong investment bank internationally known, various locations, lot of experience to be picked up. Exposure to financial markets and investment banking industry.

    Cons

    Very hard to move up and do not commend you or your strengths for work performed. Supervisors look for negatives constantly in you.

    Advice to Management

    Be fair about your treatment of employees and work ethics. See the hardwork of employees and give recognition to keep retention of good employees.


  9. managers have no accountability

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

    I worked at Northern Trust

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    Pros

    work/life flexibility and tuition reimbursement

    Cons

    performance reviews are very subjective little opportunity for advancement advancement based on who you know and not skills or education

    Advice to Management

    complete overhaul of the performance management system hold senior managers accountable for their expectations and leadership abilities


  10. Helpful (1)

    Worst place I have ever worked

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

    I worked at Northern Trust

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    There are no good things about working for Northern Trust. Worked for many years and have never worked at a place where I could not find a single good quality about the place.

    Cons

    The absolute worst working enviorment in my career. Do not trust management, HR, or the Human Relations Department they do not protect the employees they will back managment only. Stay clear of the Fund Administration Department. The Head of the Fund Admin change about 2 years ago department went downhill from there. Without a doubt the current head only manages his mangers and is clueless as to what goes on in his department. He stays in his office with his door shut and has no interaction with anyone but managers. The manager I reported to has absolutely no managment skills, and without a doubt a big zero when it comes to people skills. She lacks interaction with her team much like her direct report plops in her chair and does not converse with her team at all. Holds useless meetings not a very well liked individual. They work you like a dog too many hours too little pay. Pay is terrible raises what raises. Bonus are really not existent if you want to call what they give a bonus. My advice stay as far away from Northern Trust as you can no job is better than working at Northern Trust.

    Advice to Management

    There is no advice you could give management there they are too egotistical and would not listen to what the employee has to say.


  11. Helpful (3)

    HORRIBLE Senior Management- Operations are a nightmare- STEAR CLEAR!!

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

    I have been working at Northern Trust

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Work life balance- be prepared to work strictly 8 hours per day but expect ZERO for bonus regardless of your efforts and process improvements.

    Cons

    ork life balance- be prepared to work strictly 8 hours per day but expect ZERO for bonus regardless of your efforts and process improvements.

    Advice to Management

    Become a performance based culture where bonuses reflect your abilities and process improvement. Rick Wadell claims he took no bonus and cuts 700 people however is at +12.5mm TOTAL comp...it's in the details... Ignorance to shareholders and also ZERO sense of family at the office. You will be nothing but 1 of 14,000 employees and they remind you of this often as you will go months without interacting with your manager and receiving feedback and job progression conversations... Human Resources dictates everything here and plays too much of a role in day to day operations as opposed to relying on management to make informed decisions. If you are looking for a role where you will receive decent benefits, your salary with maybe a 1% bonus and lack or progression this is the place for you...if you are motivated to increase productivity and inefficiencies and would like a bonus more than 1% look elsewhere. HORRIBLE shop and remember that you will never receive a bonus or raise... DO NOT APPLY!!!



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