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
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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. 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 (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
  2.  

    A sturdy company

    • 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

    Many departments (but not all) have good work-life balance, and give the employees leeway to work from home and use their available time as they wish.

    Cons

    There are a lot of people who leave Northern Trust so they can return to Northern Trust. This is because Northern Trust will pay more for an external candidate than for someone within the system.

    Recommends
    Neutral Outlook
    Approves of CEO
  3.  

    Technical Coordinator

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

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

    Pros

    Nothing positive about this compan. I wasted 17 years of my life working at a bad company.

    Cons

    Very cheap since they cut down on employee benefits. Very political since they hire based on who you know not what you know or education. Therefore, people who get promoted are the ones that dump client information in the garbage instead of recycling bin, spend all day on the phone with personal calls, dissapear the majority of the day to do personal things or socialize the majority of the day. People pays and promotes people to do exactly that. The people that actually work do not get treated fairly. Infact, these people are treated as a lower class and work extra hours without pay since they have to finish a job but not allowed to work over time. These people work without taking a lunch because there is no time. They have to work harder for the people that don't do anything but are supported and liked by upper management.

    Advice to ManagementAdvice

    No advice

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5. 5 people found this helpful  

    Awash in a sea of mediocrity and middle-management

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

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

    Pros

    For the most part a very employee-friendly company. Good benefits and for the most part, very friendly people. Great place to work if you enjoy predictability, and are okay with slow growth.

    Cons

    The friendly atmosphere lends itself to slow-moving processes and an endless array of bureaucracy. If you are an aggressive, money-motivated financial sales professional, there are better places for you.

    Advice to ManagementAdvice

    The firm is bogged-down by hoards of mediocre performers that make their way into middle-management positions due seemingly to their tenure only. Cut the management ranks, reward the top-producers.

    Recommends
    Neutral Outlook
    Approves of CEO
  6. 3 people 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 (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
  7.  

    Nice people, conservative bank, good place to work

    • 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

    Colleagues were very approachable and helpful; I still keep in touch with some.
    Good experience working with large clients.
    Ability to find other opportunities within the firm is good.

    Cons

    Pay is not commensurate with work.
    It is difficult to be removed from your position; and some should. This created an attitude of complacency among some employees and the quality of work suffered.

    Recommends
  8.  

    Trust Management

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

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

    Pros

    Solid firm with long term focus. Employees are valued and Northern Trust has comprehensive benefits and coverages for all employees

    Cons

    Not always able to make decisions as quickly or transparently as would be liked by those on the front lines.

    Recommends
    Neutral Outlook
    Approves of CEO
  9. 2 people found this helpful  

    Good place to work

    • 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 full-time (more than 10 years)

    Pros

    High level of integrity and quality of service.

    Cons

    Lots of employees with very long tenure but culture is changing to one that does not encourage long tenures. Accountability is increasing but compensation is not adjusting.

    Advice to ManagementAdvice

    It's encouraging to see people who don't make the cut let go. This was not the case in the past. Rewarding those who stand out is needed too and that is not happening much. Survival is not a great incentive.

    Recommends
    Neutral Outlook
    Approves of CEO
  10. 3 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
  11.  

    Good Atmosphere

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

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

    Pros

    Company is much less stressful than retail banks. Offers a decent salary. Branches are closed on Saturdays! People are nice. Good PTO.

    Cons

    Technology is out dated. Very conservative company. No bonuses.

    Advice to ManagementAdvice

    Time to be less conservative and more outgoing. If they put me in charge I would invest more in technology, and work our way out of the cave where the conservative mind frame dwells in.

    Recommends
    Positive Outlook
    No opinion of CEO

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