Northern Trust
3.2 of 5 416 reviews
www.northerntrust.com Chicago, IL 5000+ Employees

Northern Trust Reviews

Updated Apr 12, 2014
All Employees Current Employees Only

3.2 416 reviews

                             

76% Approve of the CEO

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

Rick Waddell

(243 ratings)

63% of employees recommend this company to a friend
416 Employee Reviews
Relevance Date Rating
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Review Highlights

Pros:
  • "Culture that built a great reputation serving clients well and supports work/life balance"
    in 95 reviews
  • "Great Pay for entry positions, set schedule, good benefits, but pricey depending"
    in 24 reviews
Cons:
  • "management in some divisions punishes employees for voicing concerns to senior management"
    in 16 reviews
  • "Overweighted with middle management that is out of touch with what is going on in the field"
    in 12 reviews
  • Show more review highlights

Reviews

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Approves of CEO

 

Overall positive experience.

Anonymous Employee (Current Employee)

I have been working at Northern Trust full-time

ProsThe people are great - friendly and supportive. Salary is fair. Work balance is very good.

ConsBusiness is very siloed and as a result not always very efficient.

Advice to Senior ManagementThey should be promoting a vision of cross team cooperation.

Yes, I would recommend this company to a friend

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Great place to intern

Business Analyst (Former Employee)
Chicago, IL (US)

I worked at Northern Trust as an intern for less than a year

ProsMy co-workers at Northern were great, everyone was very friendly and willing to help. I use the skills that I got from Northern in my current internship consistently. I would like to be involved in strategy development in the near future and because of this, my supervisors included me in many strategic meetings.

ConsI did not have any problems while working at Northern, I do not have a bad thing to say about it.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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My experience there was wonderful and educational I enjoyed my employment there immensely.

Securities Technician (Former Employee)
Chicago, IL (US)

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

ProsThe availability of cross training within the department to ensure that all employees were efficient enough to handle working in all areas whenever a shortage arose.

ConsNot receiving all the information needed to setup new accounts and having those new clients stonewall you because they only want to correspond with the person who brought them into the company. The very small severance package that is given to employees that had not had the opportunity to gain more than 4 years there.

Advice to Senior ManagementWhen you know something about the loss of position don't wait to inform your employees, and don't have those same employees be the ones to train the ones who are coming to take their positions across seas.

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Client Service rep

Anonymous Employee (Current Employee)

I have been working at Northern Trust

ProsThe work environment Is very light, despite demanding clients. Management is not overwhelming with there demands. Salary, considering scope of work, is in line with competitors.

ConsIt's somewhat difficult get proper direction on procedures. Directives are out of date and those that are updated are in a different area. Management not hands on, you are often referred to other reps for help or difficult clients.

Advice to Senior ManagementCreate a team to maintain procedures, continue to include employees as much as possible, and do more to promote growth to different roles.

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Great Company

Anonymous Employee (Current Employee)

I have been working at Northern Trust

ProsNorthern Trust is a very stable company and a good place to work. Every manager that I've had valued work/life balance, and was very considered and understanding. The Benefits are good.

ConsThe pay is low and its really hard to move around within the company.

Advice to Senior Managementn/a

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  • Culture & Values
         
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  • Approves of CEO

 

Good Experience but dirty politics

Analyst (Current Employee)
Bangalore (India)

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

ProsIt is a good place to work for freshers .Employee Oriented Company

ConsLot of politics.I hated this place because of the dirty politics out there.

Advice to Senior ManagementPlease honor the hard work of the seniors and give them promotion based on their work and not based on who can please the management the most

Yes, I would recommend this company to a friend

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Well respected wealth management organization

Anonymous Employee (Current Employee)

I have been working at Northern Trust full-time

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

ConsIt is a very conservative organization. Bonuses are small.

Yes, I would recommend this company to a friend

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  • Culture & Values
         
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  • Comp & Benefits
         
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  • No Opinion of CEO

 

Networking is crucial here

Officer (Current Employee)
Chicago, IL (US)

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

ProsA 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.

ConsAdvancement 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.

No, I would not recommend this company to a friend

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Good working environment, dinosaur bosses

Anonymous Employee (Current Employee)

I have been working at Northern Trust

ProsPositive 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.

ConsManagement 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 Senior ManagementBeing 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.

Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

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  • Culture & Values
         
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  • Disapproves of CEO

 

Stale Culture

Private Banker (Former Employee)
Chicago, IL (US)

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

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

ConsStale 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 Senior Managementyou are killing your private banking business, perhaps by design.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Glassdoor is your free inside look at Northern Trust reviews and ratings - including employee satisfaction and approval ratings for Northern Trust CEO Rick Waddell. All 416 reviews are posted anonymously by Northern Trust employees.