Northern Trust

  www.northerntrust.com
  www.northerntrust.com

Northern Trust Reviews

Updated November 25, 2014
Updated November 25, 2014
525 Reviews
3.3
525 Reviews
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Northern Trust President, CEO, and Director, Northern Trust Corporation and Northern Trust Company Rick Waddell
Rick Waddell
302 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.  

    Sr. Software consultant in IT

    • 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 5 years)

    Pros

    Great company in Chicago for IT department. Employees are very happy with work and life balance. Flexible work schedule.

    Cons

    Some technologies are not properly utilized. But we see changes now.

    Advice to ManagementAdvice

    Some IT areas are very critical. Please make sure we have enough staff(Full time) before the key resource/s move out of the company.

    Recommends
    Positive Outlook
  2. 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
  3.  

    Diversity Managment

    • 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

    Pros

    Family oriented. Flexible hours. Employs lots of recent graduates.

    Cons

    Slow movement on management track.

    Advice to ManagementAdvice

    Diversify upper management.

    Recommends
    Positive Outlook
    Approves of CEO
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  5. 8 people found this helpful  

    Rec and Control. Awful group. Awful hours. Get in your silo and keep your mouth shut.

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

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

    Pros

    Compensation is decent based on industry standards. The insurance benefits are decent but still run $500 for family BCBS. Training is available, if you ever have a desire to spend time at work beyond the 10-12 hour work days. Good opportunity if you're looking to add a high volume administrator to your professional experience.

    Cons

    Hedge Fund Services has carried on Citadel's work culture. If you're not Citadel / Omnium legacy, your chances of inner-department promotion are low. Management does not care about your home work life balance. You will work 10-12 hours a day in this group without blinking. The department is full of 20somethings that live walking distance to the office, and drink away their troubles together late into the night. If you have a family or do not live in the city, you should think twice about taking a role in this department. You will not get home before 8pm most nights. There are very few actual perks to this job. The office is sparsely appointed for employee comfort. Promotional opportunities usually require a transfer to a different group. 100% Silo work. Extremely high turnover, and you will be expected to pick up the slack.

    Advice to ManagementAdvice

    Consider giving a crap about your employees. What kind of company has just 1 coffee machine and 1 fridge for a floor of over 200 employees? You aren't Citadel, no matter how much you want to be. Consider adopting the rest of Northern Trust's employee culture.

    Doesn't Recommend
    Positive Outlook
  6. 4 people found this helpful  

    Painfully political

    • 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 (more than 8 years)

    Pros

    Job stability - many people have worked all their adult lives at this company.

    Cons

    No effort is ever good enough. Salaries are lower than other companies, and raises are meted out in pennies. Politics is ridiculously out of control, and the only criteria for advancement. Diversity is a catch phrase, but the reality is a work environment that is highly discriminatory and condescending in Northern's treatment of lower level women, older people. Token diversity is rampant, which is just as insulting as overt racism. The atmosphere is cold, stiff, intolerant, and non-inclusive. Lots of blame throwing. Life long employees are celebrated dead weight who spend more time working the system than adding productive value or ideas. People do not smile much in this region.

    Advice to ManagementAdvice

    I remember once meeting Rick Waddell, who did not say one word but looked at me like I was beneath him and walked away. That said it all.

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

    Reconciliation

    • 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

    Pros

    It's a job. Not much else.

    Cons

    Low pay for such a critical position

    Advice to ManagementAdvice

    Get with the times and pay employees market rate. Way too much loss of talent and knowledge due to low pay and poor support by upper management.

    Neutral Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    Steady Bank with limited opportunity to grow

    • 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 (more than 5 years)

    Pros

    Very stable. Good benefits: 401k matching, pension, HSA contribution, good dental and vision coverage. Executives are very open/approachable.

    Cons

    Training is non existent but where it exists it is very basic. Majority of people working there just want to do the minimum to get by. There are a few who care, and they are worked to death since they are the only ones who can get the job done. Promotions depend more on department than quality of work.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  9.  

    Slow but steady.

    • 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 (more than 3 years)

    Pros

    Collegial atmosphere, low pressure, client-centric, conservative.

    Cons

    Slow career path, so-so compensation, outdated technology.

    Advice to ManagementAdvice

    Incentives to perform well need to be enhanced.

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

    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
  11.  

    Northern Trust

    • 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 as a contractor (less than an year)

    Pros

    Pay was decent. Location is great. Technology is mostly current.

    Cons

    Not very friendly people. They are too impressed with the on boarding process to stand back and look at it from an outsider's point of view.

    Advice to ManagementAdvice

    Become more in touch with the staff. Rotate first level management personnel.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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