Northern Trust Reviews | Glassdoor

Northern Trust Reviews

Updated February 8, 2017
134 reviews

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Northern Trust President, CEO, and Director, Northern Trust Corporation and Northern Trust Company Rick Waddell
Rick Waddell
60 Ratings

134 Employee Reviews

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  1. "Old & Slow"

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

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

    Pros

    Good location downtown in the loop is a nice convenience. Expectations of employees is lower than other firms, a double-edged sword that leads to much complacency among employees throughout the ranks.

    Cons

    125+ year old company with an established "old" culture. Good fit if your 50, otherwise the slow pace will grow frustrating. Technology in use is old and behind competitors leading to a bleak outlook for future operations.

    Advice to Management

    Get rid of low performers and people who have been at the company for a long time and are resting on their laurels. Invest in current technology and a younger workforce.


  2. "Alternative Assets Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Alternative Assets Analyst in Tempe, AZ
    Former Employee - Alternative Assets Analyst in Tempe, AZ
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    Overall, this is a very good company with good benefits. The people in most of the areas of the company are easy to work with and support each other.

    Cons

    The alternative assets department lacks a lot of leadership in management. Managers in this department provide new employees with poor or no training on just about all of the job duties. Once there are any issues, management does not hesitate to point fingers at lower level employees and include all issues in your reviews. This makes it impossible for anyone to advance to higher levels or even change departments within the bank. The treatment from managers in this areas has created lots of turnover and employees have taken massive pay cuts to leave this department. Northern Trust is a great company overall, but the alternative assets department has some very serious issues with their culture and processes.

    Advice to Management

    Develop a positive culture and train your employees. Do not destroy their careers when you have provided them with little to no resources. This will help you retain talent and develop your current employees instead of forcing them to leave the bank.


  3. Helpful (1)

    "Disappointing"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in Chicago, IL
    Current Employee - Analyst in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Name recognition, respect in the marketplace.

    Cons

    Very disorganized, lacks strong leaders, and all about who you know/how long you've been there. Where creativity and innovation go to rest. Strategy to relocate to lower cost locals, including AZ and India, which creates lack of opportunity for upper end talent.

    Advice to Management

    Invest in your employees, respect them, and do what you say you will do. I think there is a huge lack of trust. A self perceived 'Northern way' culture isn't shared among employees, especially newer/outsiders.


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  5. "Team lead"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    There is opportunity to grow

    Cons

    The management styles are outdated, Human resources recruitment is outdated, IT is outdated, they work in a bubble of there own. Lack of perspective and forward thinking

    Advice to Management

    Need forward thinkers and doers


  6. Helpful (1)

    "Good for first 2 years out of college"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Client Service Representative in Chicago, IL
    Former Employee - Client Service Representative in Chicago, IL
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    The name carries well in the finance industry. Good job to have for 1-2 years out of college. However, after 1-2 you need to move on. Professional people.

    Cons

    Very methodical work. Opportunity for growth not there. Most of the colored folks are not in management positions. Pay is less than average

    Advice to Management

    Give more opportunities to people of color to manage. Stop being stingy with pay or you will continue to have high turnover.


  7. Helpful (1)

    "Bureaucratic with a serious need to cut the dead weight."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Second Vice President in Chicago, IL
    Former Employee - Second Vice President in Chicago, IL
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Considerable opportunities to take on more responsibility. If you can make your way past mid-level managers who have accomplished nothing more than not getting fired, it has the potential to be a rewarding place however; that will prove difficult. The pension is a positive as is the name.

    Good place to start a career and end a career.

    Cons

    Pay. It's nonsensical as the story is the same every year. "Money is tight this year, raises will be small or next to zero, I'll fight for you though".

    Advice to Management

    Cut the dead weight, identify, reward and retain talent. The company could be a really good place and has very little competition in Chicago for financial talent. Instead of employing 200 mediocre people, employee 100 really good people, pay them and watch them accomplish more than the collective 200.


  8. "Vice President"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Portfolio Manager in Chicago, IL
    Current Employee - Portfolio Manager in Chicago, IL
    Doesn't Recommend
    Positive Outlook

    I have been working at Northern Trust full-time (More than 8 years)

    Pros

    There is good work life balance

    Cons

    Salary and benefits are not competitive within the industry


  9. Helpful (1)

    "Better bank 5 years ago"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Database Administrator in Chicago, IL
    Current Employee - Senior Database Administrator in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Northern Trust full-time (More than 8 years)

    Pros

    Challenging environment. State of the art software. Work life balance is adequate.

    Cons

    Fewer skilled people on projects. Maintain the same level of quality with fewer resources. Mixed messages from upper management. Banks in general have been hurt by years of low interest rates and have scrambled to stay competitive.


  10. Helpful (2)

    "Human Resources"

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

    Pros

    Benefits, stability and the Northern Trust image.

    Cons

    New online applicants will never make it through the applicant tracking system. Nearly all the online posted positions will be filled by internal candidates or their referrals. Essentially if you are an outsider don't waste your time applying because you have no chance of getting the job. Save your time and energy and look for a job elsewhere.

    Advice to Management

    Expand your horizons


  11. "I love the client interaction and project management aspects of the job."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Consultant in Chicago, IL
    Current Employee - Consultant in Chicago, IL
    Recommends
    Negative Outlook
    Disapproves of CEO

    I have been working at Northern Trust (More than 5 years)

    Pros

    lots of great experience. you learn a lot very quickly. get to touch all aspects of the business. lots of client interaction.

    Cons

    Management realizes turnover is a huge issue but refuses to address it. instead they have learned to accept it as business operation. truly terrible pay. turnover - not only are you paid below market, but you have to do the jobs of the vacancies. pay freeze.....

    Advice to Management

    Pay your employees more. promote within to keep the good employees.



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