Northern Trust is one of the world’s largest wealth management firms, managing over $1 trillion in assets. As an investment associate at Northern Trust, you can expect a highly competitive salary and excellent benefits. In this article, we’ll take an in-depth look at the compensation and career path for investment associates at this prestigious firm.
As a leading global asset manager and custodian bank, Northern Trust offers investment associates outstanding opportunities for career development and growth. The work is complex and demanding, requiring strong analytical, interpersonal and client service skills. In return, Northern Trust investment associates are paid very well compared to industry averages. Base salaries typically start around $80,000 for entry-level roles and can reach $150,000+ for senior investment associates. Bonuses and profit sharing may add another 40-50% on top. There are also great 401k matching contributions, healthcare benefits, life insurance and more.
Career advancement opportunities also abound at Northern Trust. With mentorship and the firm’s robust training programs, many investment associates move into portfolio management, relationship management and other leadership roles. The potential for high earnings over the span of your career is certainly enticing. However, succeeding at Northern Trust requires top-notch credentials, expertise and a tireless work ethic. The intellectual challenges are constant, and you must be comfortable interacting with high net worth individuals and institutional clients. While the path is not easy, the rewards for those that excel are substantial.
Base Salary Ranges for Northern Trust Investment Associates
According to Glassdoor, the base salary range for an investment associate at Northern Trust is $77k to $163k per year. However, most salaries fall between $80k to $120k. Here’s a breakdown of the typical base pay at different seniority levels:
– Entry-level investment associate: $77k – $85k
– Investment associate (2-5 years experience): $80k – $110k
– Senior investment associate (5-10 years): $110k – $140k
– Lead/principal investment associate (10+ years): $130k – $163k
Of course, these figures are just rough estimates. Actual compensation depends on job responsibilities, performance, credentials and local job market conditions. Big cities like New York and Chicago tend to pay better than smaller towns.
It’s also worth noting that base represents only part of total compensation. Bonuses, commissions and profit sharing may add tens of thousands more per year. With experience, it’s possible for total compensation at Northern Trust to exceed $200,000 annually.
Strong Bonus Potential for Top Performers
In addition to base salary, Northern Trust investment associates have excellent bonus potential through the company’s variable incentive plans. Bonuses are tied directly to individual goals, team performance and the overall success of the firm.
For newer associates, bonuses often range from 10-20% of base pay. But for seasoned professionals, annual bonuses may reach 50-100% of base. Again, for key revenue generating roles, incentive pay could drive total compensation above $200,000.
The largest bonuses go to investment associates who consistently exceed expectations and contribute most to Northern Trust’s bottom line. Outperforming peers, landing new business and keeping clients delighted will go a long way here. Stellar work ethic, expertise and leadership abilities will be rewarded.
Career Progression Opportunities Within Northern Trust
Northern Trust is keen on developing talent and retaining top employees long-term. There are well-defined career paths to help ambitious professionals continue moving up. Here are some of the most common next steps:
– From investment associate to portfolio manager – Overseeing investment accounts more independently.
– From investment associate to relationship manager – Becoming the main point of contact for important clients.
– From investment associate to team lead – Leading a group of more junior investment associates.
– From investment associate to the executive track – Moving into a senior management role.
Advancement comes with greater prestige, responsibility and much higher compensation. The potential earnings over the span of an entire career at Northern Trust are quite enticing. But you must be willing to work hard, absorb constructive feedback and hone your skills over many years. Success is a marathon here, not a sprint.
In summary, Northern Trust offers very attractive salaries and bonuses to investment associates. For top performers willing to take on substantial responsibilities and grow over time, the career earnings potential is sky-high. However, the job requires world-class expertise and an exceptional commitment to client service. The intellectual challenges are constant. For those individuals who thrive on mastery and high-stakes work, Northern Trust offers an outstanding platform to build a rewarding and lucrative career.