Northern Trust Reviews | Glassdoor

Northern Trust Reviews

Updated September 24, 2017
99 reviews

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99 Employee Reviews

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Pros
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More Pros and Cons

  1. "Beware"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook

    I worked at Northern Trust full-time

    Pros

    Wealth side is best to work for

    Cons

    low salary, crazy people, hire and fire like mad- bad technology


  2. "Acountant"

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

    Pros

    Good insurance benefits and PTO

    Cons

    Over worked and underpaid for role

  3. Helpful (1)

    "The Northern Trust way is old and tired"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Competitive benefits and decent wages.

    Cons

    Ever since going public, the bottom line is to impress investors. It's an old crony, good ol' boys select group of male leaders in key positions with very few female top executives. This company is all about doing more with less - less people, less resources, less work/personal life balance. They cram employees into small cubicles with the exception of those holding upper management positions. Even the department managers, in many departments, work in cubicles. This makes it difficult to have meaningful conversation without disrupting other workers.

    Advice to Management

    Stop squeezing down your work force and work spaces. People need to be able to converse and share ideas. Get rid of the old fogies still in decision-making positions, including those on the board of directors. The company can still be profitable with a full staff. CEO Waddell caved to investors.


  4. Helpful (5)

    "Great benefits...that is all"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Northern Trust full-time (More than a year)

    Pros

    Great benefits package. Received decent amount of vacation, sick, and "emergency days", as well as 401K and pension (who still does that?). But that is all.

    Cons

    I came in from the outside working over 25 years in the financial industry working for midsize to extremely large institutions. It is true that there is rampant nepotism and incompetent management. I have managed very large teams before and I could of ran circles around the person they assigned to manage the group. The company as a whole is adverse to change. High turn over of good people leaving the lazy lifers working for their pension. I actually had a potential employer tell me he would not hiring anyone with Northern Trust on their resume.

    Advice to Management

    Start over with management, get rid of dead weight.


  5. Helpful (2)

    "Release Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Anonymous Contractor in Chicago, IL
    Former Contractor - Anonymous Contractor in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Northern Trust as a contractor

    Pros

    The pros include the obvious demand for release management in this industry which claims opportunities. The current maturity level allows for experienced staff to come in and bring them up to current processes, and influence an old culture to mature. Not to mention a financial organization that needs to meet current standards per their clients.

    Cons

    Working within a team that does not collaborate with new staff members can become a very hostile environment, toxic and unprofessional.

    Advice to Management

    A controlled environment is appropriate at several levels. However, micro managing, manipulating staff and biased behavior can lead to unhappy teams. Non-productive teams. Teams that refuse to work with one another. Not to mention, a culture that is cliquish and prejudice with new staff and new ideals will not last long. Those people you consider inferior and who try to insert themselves into a work environment are influencing much needed change. Change that is not easy for any individual to bring into a company without management support. Shame on you for your poor behavior.


  6. Helpful (1)

    "Fund Accountant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Institutional Fund Accountant in Tempe, AZ
    Former Employee - Institutional Fund Accountant in Tempe, AZ
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I worked at Northern Trust full-time (More than a year)

    Pros

    None. Honestly none in the Fund Accounting department. Can't speak for the other departments.

    Cons

    Poor work life balance, at least in the Fund Accounting department. Management lacks the proper training to be efficient. Only two analysts can be off on any given day, so if the days you need off are already booked, too bad. Pay is awfully low, starting at 42k, with only modest 5-8% increases with promotion. Open ended shifts weekly, you have no idea when you will be leaving due to too many factors out of your control with pricing departments, derivative rates, etc.

    Advice to Management

    Get some real training.


  7. Helpful (1)

    "Not a good place to work for Contractors"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - IT Contractor in Chicago, IL
    Current Contractor - IT Contractor in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Northern Trust as a contractor (More than a year)

    Pros

    Northern Trust is a stable financial institution with a very impressive legacy and will likely around for many years to come.

    Cons

    This is not a place for contract employees to work. Northern often mis-treats their contractors by creating a hostile and unstable environment. Despite all of the positive reviews, I would think twice about joining the Northern Trust team as a contract employee.

    Advice to Management

    Treat contractors as valued members of your team instead of mis-treated, under appreciated outcasts who are often thrown to the curb without a second thought.

  8. "Avoid hedge fund services at all costs"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Consultant Hedge Fund Services in Chicago, IL
    Current Employee - Consultant Hedge Fund Services in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Northern Trust full-time

    Pros

    Very hard to get fired here, which can be good and bad depending on your views. If you keep your head down and do your work you should be fine.

    Cons

    Very dysfunctional organizational structure. Management has no clue how things work on the "front lines". Your job is very dependent on which team your placed in. Very monotonous, tedious work. AVOID HFS unless you are very desperate.

    Advice to Management

    Please get a clue


  9. Helpful (3)

    "The Grey Lady is dead. RIP"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Vice President in Chicago, IL
    Former Employee - Senior Vice President in Chicago, IL
    Recommends
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Historically was a fine institution under the leadership of Bill Osborne who cared about all Northern partners and had personal compassion for the company .

    Cons

    Cost cutting, lack of support , back stabbing, scorecards, unrealistic sales goals balanced by limited support . Too many layers of managers who were not self thinkers. The culture turned to not having honest dialogue in fear of conflict. Company doesn't care about banking. Fear of losing your job continues today. How sad and expensive.

    Advice to Management

    Become honest with one's self and get back to basic management .


  10. Helpful (3)

    "very bad experience in investment operation resources"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Derivatives Analyst in Chicago, IL
    Former Employee - Derivatives Analyst in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Northern Trust (More than a year)

    Pros

    very limited knowledge can learn from the work

    Cons

    People in this team are very non-flexible and non-smart. They can only work as predetermined process no matter how time-consuming and low-efficient it is. Some of the working procedures not only increase burden of employees but also make no sense to client, but they would like to stick on it because that is the only way they can do the work. Also, when issues appear, the team leaders always think first of how to rid themselves from responsibilities rather than resolve the problem asap.


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