Northern Trust

  www.northerntrust.com
  www.northerntrust.com

Northern Trust Reviews

Updated December 22, 2014
Updated December 22, 2014
528 Reviews
3.4
528 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
304 Ratings

Review Highlights

Pros
  • Great place to work & great work life balance; especially during the tax season (in 120 reviews)

  • Decent work -life balance, good work environment and a good salary for a start (in 32 reviews)


Cons
  • Lack of effective work-life balance despite the fact that Northern says they promote the issue (in 12 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.  

    Team Leader

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

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

    Pros

    CEO and senior officers do have good plans in mind. However, it would be very hard to clean up the bank with so many dishonest managers.

    Cons

    most employees were cut to save money. Promotes managers who have no clue on the job. Very political company. Will not recommend to family member. Company does not retain good employees or employees that know the work. It is hard to move within the bank. There is no career advancement for the good employees since people advance based on political connections.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2.  

    Lack of investment in new hires

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

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

    Pros

    Nice name on your resume.

    Cons

    It is hard to be successful at a job you were hired to do when the first two weeks on the job there was no training at all. The two days of training they provide is very poor and basic. If you can't get by on those two days, your manager contacts HR and alerts them they hired the wrong person.

    IT does a terrible job granting access to the software programs you need to do your job. It took me a month before I was given a phone number and it took a week to get a email address.

    Advice to ManagementAdvice

    investment more money in training your new hires in operations. Just because they may have experience from another firm, doesn't mean they are experts in the archaic proprietary software you use. It's no wonder why there is so much turn over in the Operations Group and compensate your employees in the back office.

    No opinion of CEO
  3. 4 people found this helpful  

    I was hired to do a specific job, but when I refused to compromise on the principles I was told to uphold, I was demoted

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Head of A Major Division in Chicago, IL
    Former Employee - Head of A Major Division in Chicago, IL

    I worked at Northern Trust full-time (more than 5 years)

    Pros

    Benefits are well above average.

    Cons

    There are two tribes at this company. The Brotherhood is the power tribe. Very WASPY. Everyone else belongs to the underclass, and is treated accordingly.

    Advice to ManagementAdvice

    Because of the culture of "in tribe" vs. "out tribe" there is no path to the top echelons for regular people. The political atmosphere is toxic, and taking a principled stand that goes against the belief system of the Brotherhood is career suicide.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. 2 people found this helpful  

    Not recommended if you are interesting

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President In Charge of Paperclips in London, England (UK)
    Former Employee - Vice President In Charge of Paperclips in London, England (UK)

    I worked at Northern Trust as a contractor (less than an year)

    Pros

    easy enough work, decent enough main systems compared to other service banks

    Cons

    boring, have to email and record emails to get anything done, you spend more time on admin than actually resolving problems. Boring culture, no bins, average canteen, floors full of people not speaking to each other... Dublin office was the worst and seemed to hire every angry female in Financial services. Not an environment of helping or getting things done, more a 'cover your own backside' & 'not my problem mate' vibe. Most telling, the World cup is on, and NOBODY was interested !?
    zero banter, zero fun, its just a job, lots of clock-watchers hire content to let their careers vegetate. I still want to try and build a career, so quit to find something better. Oh, and by the way, your 2 largest EMEA clients are not happy with the service you get from NT and are thinking of binning you.

    Advice to ManagementAdvice

    get some bins, a toaster, put a few telly's up, get a helpdesk number you can actually phone, and try to get a bit of spark into the floors. Maybe also get rid of the people who have 2 days off a sick (known as 'work from home') every month.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  6. 6 people found this helpful  

    Highly Underappreciated and Severely Underpaid Employees

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Second Vice President Tax
    Former Employee - Second Vice President Tax

    I worked at Northern Trust full-time (more than an year)

    Pros

    - 4 weeks of vacation

    Cons

    - Accountants are pushed to a building on the South side of the Loop and are not in banking buildings. Not a "One" group feel.
    - Cheap on pay with it's "Partners" - well below industry standards
    - VPs are removed from the work their staff and seniors are performing and unrealistic about time lines internal due dates.
    - Salaried individuals are not given any recognition when overtime is put in and it's excessive during busy periods.
    - VPs unable to think outside the box and do not meet industry standard practices
    - Lack of a sense of teaming due to the VP frowning on communication- people do not talk to each other even though they are working in the same group and on the same project people.
    - Company Policies are not followed in each department and apply to ONLY certain.
    - Unreasonable expectations and lack of resources creates unnecessary overtime for all
    - Redundancy in the work to create job security as I quote direct from the VP
    - Lack of effective work-life balance despite the fact that Northern says they promote the issue.
    - Cheap budget meaning the resources you do have are inefficient and dated for tax return preparation and tax research.
    - Preferential treatment provided to certain individuals who have been with the department longer.
    -Expectations that if you are the new person you are given the shaft when it comes to office coverage and pto during holidays and during non-busy season.
    - Honesty in this department is not a given.
    - Professionalism is not a priority within the group I was in and really was almost embarrassing to clients.
    -Low budget so raises are not within industry standards and limit earning potential. This also translates into no holiday parties or company outings.
    - Lack of communication from top down approach - ie 400 people will be let go in 2014 and 2015 was announced in Crain's Mag before even being communicating it to their own employees.
    Overall the group I worked in I felt was less than acceptable when it came to professionalism which really in the end created a hostile working environment. I would say that anyone considering working for this company take a serious look elsewhere before signing any employment contract with them.

    Advice to ManagementAdvice

    The lack of leadership of the department and the inability to keep up with industry standards and practices sets Northern way low on the list of companies I would ever want to associate myself with ever again. I have worked in BIG 4 and other investment companies in tax and never saw the circus you people allow VPs and Senior VPs to play. Employee retention and moral have sunk to all time lows and it's clear why now it's only a matter of time before your clients realize it too.

    Doesn't Recommend
    Neutral Outlook
  7. 2 people found this helpful  

    Northern Trust Does Not Provide The Training You Need To Be Successful

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

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

    Pros

    Decent pay, prestigious titles, experience

    Cons

    Inadequate training, token diversity, covert racism, phony colleagues

    Advice to ManagementAdvice

    Invest time in proper training and maybe you will see a better return on the TRILLIONS of temps you rely on to make your company go round. Also, it's not smart to stick new hires with idiots who don't know how to train. Not everyone can train/teach. On my 1st day of training, the idiot who was training me was surprised to know that he was even going to have to train me.

    I was hired as an OTC Derivatives Analyst, and the NEXT DAY was switched to PIMCO analysis. To put it simply, this wasn't a real analysis position. It was simply a complex data entry position and nothing more. Northern Trust does an excellent job of putting lipstick on pigs when it comes to job titles and job details. If they actually invested in proper software that actually received and managed data properly, the position wouldn't even exist, or at the least would probably be sent off to Bangalore, India.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    Not performance oriented with respect to investment management

    Former Employee - Equity Portfolio Manager in Chicago, IL
    Former Employee - Equity Portfolio Manager in Chicago, IL

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

    Pros

    Located in good city (Chicago).

    Cons

    Not performance oriented; incentives for employees not aligned with investment management performance.

    Advice to ManagementAdvice

    Needs to focus on funds performance

  9. 5 people found this helpful  

    Notorious for Poor Management and Compensation

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

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

    Pros

    - Job Security and minimal job stress (for most groups)
    - Great for those approaching retirement and/or focusing on family > career

    Cons

    - Extremely conservative work culture (in every sense of the word) - not conducive to advancements in technology and/or creativity & "pass-the-buck" mentality
    - Job security (very difficult to get fired + very minimal frequency of layoffs) coupled with poor compensation/performance incentives (<1% bonus) results in widespread lackadaisical workforce.
    - Minimal opportunities for career growth - promotions are seldom and typically given based on tenure rather than performance.
    - Widespread incompetence and arrogance from management that is extremely disconnected from the realities of the day to day responsibilities of subordinates - often leads to disproportionate workloads among colleagues and low employee morale.

    Advice to ManagementAdvice

    Get rid of the poor management and dead weight running rampant throughout the organization. They are tarnishing the brand of what used to be a great company.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 2 people found this helpful  

    Horrible

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

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

    Pros

    3-weeks vacation.
    Shuttle bus service.
    Nursing room.

    Cons

    Management only promotes people that they like and favor.
    Section managers are abusive and more sadly their behavior is supported by upper management.
    Hard-working employees are not rewarded fairly.
    The salary is low and years migth pass before you get a raise, if any.
    The culture is conservative. People doesn't embrace change.

    Advice to ManagementAdvice

    Work on strategies to empower, engage and reward hard working employees.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  11. 1 person found this helpful  

    Growth is very slow. No appreciation

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Analyst in Bangalore (India)
    Current Employee - Analyst in Bangalore (India)

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

    Pros

    Good opportunity to start your Career if your a fresher.

    Cons

    Growth is slow & gets stagnant within 1 year. So try to move out by 2-3 years. Salary hike is bad. Keep your expectations low on salary & bonus.

    Advice to ManagementAdvice

    Appreciate & reward the person.

    Doesn't Recommend
    Negative Outlook
    Approves 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.