Northern Trust Reviews

Updated 28 August 2014
Updated 28 August 2014
525 Reviews

3.3
525 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Northern Trust President, CEO, and Director, Northern Trust Corporation and Northern Trust Company Rick Waddell
Rick Waddell
295 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.  

    Stable with no career progression

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Consultant  in  Melbourne
    Former Employee - Consultant in Melbourne

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

    Pros

    Stable career doing similar work day-in and day-out
    Recognized global brand
    Some support for academic studies

    Cons

    Lack of career progression
    Incompetent local management outside US
    Lack of support from Bangalore in Middle Office despite years of effort to embrace their failures to improve
    Inconsistent process and procedures, very people-driven
    Poor communication between departments with large clear responsibilities gap
    Disproportionate benefits

    Advice to ManagementAdvice

    Improve competence and reduce bureaucracy

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

    Decent Experience/Great First Career Step

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Fund Accountant  in  Chicago, IL (US)
    Current Employee - Senior Fund Accountant in Chicago, IL (US)

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

    Pros

    Northern Trust carries strong reputation among SuperRegional Banks, and has been around for quite some time. As a first career, any entry level position is a step up on your resume. Benefits are great, and salary is manageable.

    Cons

    Salary isn't something that's a strong point here, seems like all entry level positions are atleast 10% under the market norm. Management has too many similar roles paying VP's and Sr VP's to do Consultant/TC roles. The TL position is supposed to carry management duties, however most are overriden by the Team Manager, so role is basically a TC without overtime.

    Advice to ManagementAdvice

    Cut down on management and pay the entry-level partners a better starting salary and maybe turnover wont be as terrible.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Great Place to Work

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Northern Trust

    Pros

    Great people
    Great Pay
    Great City
    Lots of opportunity
    Great fun

    Cons

    No cons that I can think of.

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  5.  

    Great Culture

    • 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 for more than a year

    Pros

    Pay is competitive, SME skillset, great working environment

    Cons

    promotions seem to be siloed

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Great people, great environment, could use some modernizing

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

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

    Pros

    Incredibly helpful coworkers and superiors

    Cons

    Technology and office perks are way outdated

    Advice to ManagementAdvice

    Upgrade your technology and office perks.

    Recommends
    Neutral Outlook
    No opinion of CEO
  7.  

    Good company, great culture, great work/life balance

    • 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, strong leadership, great company values

    Cons

    Conservative culture, slow growth relative to peers

    Recommends
    Neutral Outlook
    Approves of CEO
  8.  

    A sturdy company

    • 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

    Many departments (but not all) have good work-life balance, and give the employees leeway to work from home and use their available time as they wish.

    Cons

    There are a lot of people who leave Northern Trust so they can return to Northern Trust. This is because Northern Trust will pay more for an external candidate than for someone within the system.

    Recommends
    Neutral Outlook
    Approves of CEO
  9.  

    Good experience. The atmosphere has bee the best sice I started my career.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Client Reporting Analyst  in  London, England (UK)
    Former Employee - Client Reporting Analyst in London, England (UK)

    I worked at Northern Trust part-time for less than a year

    Pros

    Workinf hours 9-5, so good work life balance. The atmosphere there is great. No micromanagement at all. You feel good there after working in super big corporations

    Cons

    Northern trust didnt cut work force when the crisis hit so they are doing that now. Lots of work is transferred to India of Ireland so there was no work for me any more, I totally understand their decision to do this. its so much cheaper to hire people in India.

    Advice to ManagementAdvice

    Dont transfer all the position to Ireland and India.. Leave something here to London also.

    Recommends
    Negative Outlook
    Approves of CEO
  10. 2 people found this helpful  

    Right place, wrong century.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Vice President  in  Chicago, IL (US)
    Former Employee - Senior Vice President in Chicago, IL (US)

    I worked at Northern Trust full-time for more than 10 years

    Pros

    Nice people, highly moral organization, great community involvement, people happy to mentor, many long tenured employees.

    Cons

    Two classes of employees, those that have been around 20+ years and everyone else. Non-competitive from a comp standpoint, very average benefits and continuously getting less generous. Been in a cost cutting mode for years, especially in areas like banking and traditional custody business. Very set in its ways, constant movement of senior management means nobody is in a position long enough to be measured or accountable. Log jam of long tenured people in management makes it almost impossible to move up in certain areas of the bank. Many of the employees have given up trying, they simply do the minimum required and the organization seems ok with it. People aren't honest, not because they are liars but because they don't want to hurt feelings or upset anyone.

    Advice to ManagementAdvice

    You can probably turn the risk tolerance up a couple of notches and still be the most conservative bank in the country. HFS is a negative operating leverage loser, you are cutting other profitable areas of the bank to the bone to fund this business and to what end? Pay more attention to the people that are going to be the future of the bank. These people aren't happy and are leaving in bunches.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11.  

    Stable and Neutral.

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

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

    Pros

    Culture, Work-Life Balance, Intelligent Colleague. Always opportunities. Great if you are more seasoned in your career and have family responsibilities. Stable.

    Cons

    Compensation. It's common knowledge that Northern pays ~20% below market rate when it comes to salary (No matter what the position). HR will pitch "work life balance" and "culture", which is all well and good; but if you are young, motivated, and looking to earn a wage commensurate with your work product, Northern is not the place. On more than 1 occasion I have had well respected managers advise that "You are better off working here for a year/two, leave to make your money elsewhere and then come back". That certainly is discouraging when overall it is a great place to work.

    Advice to ManagementAdvice

    If management expects to remain competitive and retain top talent, they better open up their pocket book, bringing the average salary AT A MINIMUM TO MARKET VALUE. It doesn't have to be extreme or gaudy, just a competitive wage relative to the rest of the major competitors in our market.

    Recommends
    Neutral Outlook
    Approves of CEO

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