Northern Trust

  www.northerntrust.com
  www.northerntrust.com
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Northern Trust Reviews

Updated September 10, 2014
Updated September 10, 2014
489 Reviews
3.3
489 Reviews
Rating Trends

Recommend to a friend
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Northern Trust President, CEO, and Director, Northern Trust Corporation and Northern Trust Company Rick Waddell
Rick Waddell
280 Ratings

Review Highlights

Pros
  • Culture that built a great reputation serving clients well and supports work/life balance (in 100 reviews)

  • Good work culture, people are friendly, and the salary for fresh grads is competitive (in 26 reviews)


Cons
  • Management does not care about your home work life balance (in 9 reviews)

  • management in some divisions punishes employees for voicing concerns to senior management (in 16 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    "Old School" Firm

    • 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 for more than 8 years

    Pros

    Culture that built a great reputation serving clients well and supports work/life balance. Senior management is extremely accessible and promotes internal networking.

    Cons

    Slow moving; not receptive to change. Overweighted with middle management that is out of touch with what is going on in the field. Lack of accountability.

    Advice to ManagementAdvice

    Promote a culture based on meritocracy. Stop relying on the old ways of doing things and recognize the changing industry dynamics that are occurring and adapt accordingly.

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

    Good working environment, dinosaur bosses

    • 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

    Positive work life balance. Yes, Bankers Hours still exist. (Most are 8-4 with a 90 minute lunch)
    Some smart people. It varies widely
    Good benefits. Sometimes to good for the company (see cons)
    The bar is set pretty low. Mediocrity is rewarded and encouraged because it gets work done and is non threatening to management.
    Never rushed.
    Recognition for any time put in working past normal hours.

    Cons

    Management insulates itself from the workers.
    Old School.
    MANY people are there to finish up their pension time and retire. Veterans spend more time insulating themselves and consolidating their position than they do working. Often spending cycles doing CYA rather than something productive.
    Meetings drag as people seem more concerned about filling the time than getting something done
    Mid level managers can take WEEKS to reply to an email just to display their power even if it is costing the company thousands of dollars a day. Not an open door environment
    Bottom Line: Management could be in a coma for three weeks before anyone would notice.

    Advice to ManagementAdvice

    Being known as a conservative, slow to change, no risk, stoic bank is your trademark. And it works for your reputation.
    But it REALLY sucks as a management style.
    Real Advice: Buy out some of the dead wood with early pensions and get some talent in. It will pay off pretty fast.

    Recommends
    Negative Outlook
    Approves of CEO
  3.  

    Networking is crucial here

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

    I have been working at Northern Trust full-time for more than 3 years

    Pros

    A good place to start your career. People are intelligent and know the business well. If you are excellent at networking you will have more opportunities for career advancement.

    Cons

    Advancement can be slow and it's more political (hence the networking above) and less of a meritocracy. There are also a lot of inefficient HR or administrative processes that they are working to improve upon.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5.  

    Stale Culture

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

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

    Pros

    Best trust business on the planet. Average investment management platform. Pitiful private banking/lending culture.

    Cons

    Stale culture. Very few partners have any fire in the belly. One could make a career of sliding by. Bonuses are a joke even for top quartile performers. Inquisitive partners are shunned as arrogant rather recognized as constructive challengers of convention.

    Advice to ManagementAdvice

    you are killing your private banking business, perhaps by design.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    Pretty good place

    • 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 for more than 5 years

    Pros

    People are nice. Friendly environment

    Cons

    Consensus often required for decisions which slow things down

    Neutral Outlook
  7.  

    Good place to start, don't stay too long.

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

    I have been working at Northern Trust full-time for more than 5 years

    Pros

    Vacation days and bank holidays.

    Cons

    Paid lower than market, too many layers of management.

    Advice to ManagementAdvice

    Take care of and develop your people.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8.  

    full of politics - canal office

    • 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

    - Good place to start if you're right out of college

    Cons

    - Compensation is non-existent. I've given out 1% raises.
    - Infested with corporate politics

    Doesn't Recommend
    No opinion of CEO
  9.  

    Custodians are cheap

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - IMLG Representative
    Current Employee - IMLG Representative

    I have been working at Northern Trust full-time for more than a year

    Pros

    Lot of long term employees here

    Cons

    Raises are below inflation and bonuses are small

  10. 1 person found this helpful  

    Good company, great beneifts, but behind the times.

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

    I have been working at Northern Trust full-time

    Pros

    Great Pay for entry positions, set schedule, good benefits, but pricey depending. Company loves to promote from within but will give a equal and fair chance for non-employee hiring. They alternate this well. Facility amenities nice, good vacation/ sick package, friendly environment mostly. Encourages new ideas, even rewards/ pays for them. Fun, interesting company events.

    Cons

    Old Outdated systems, need for efficient, functional technological systems for clients and employees. Lots of passing the buck, with retail offices, when dealing with the call center. Many transferred calls with confused clients, who are upset they have to re-explain their issue to you. Some policies and practices are not client centered. Meaning they provide no resolution that would be efficient, nor practical for clients. Expect many confused and sometimes angry clients.

    Advice to ManagementAdvice

    Pay attention to complaints/suggestion regarding supervisors/ managers and handle accordingly. You will lose valuable employees to unnecessary micromanaging. Invest in more technological updates for both employee work systems, and client interfaces.

    Recommends
    Approves of CEO
  11.  

    Well respected wealth management organization

    • 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

    Good work/life balance. Overall the people who work there are very friendly.

    Cons

    It is a very conservative organization. Bonuses are small.

    Recommends
    Neutral Outlook
    Approves of CEO

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