Northern Trust

Compensation Business Partner

Northern Trust$137K — $240K *
Business Services
5 - 7 years of experience
Job Overview by Ladders

Qualifications

  • Bachelor's degree in Human Resources, Finance, Business, or a related field; CCP or advanced degree preferred
  • Minimum 7 years of progressive compensation experience, with client-facing or consulting roles
  • Demonstrated skill in partnering with senior leaders on complex compensation issues
  • Proven ability to align enterprise compensation philosophy with business needs
  • Strong executive communication and stakeholder management capabilities

Responsibilities

  • Serve as a trusted advisor on compensation philosophy and governance for business leaders
  • Consult on compensation decisions affecting offers, promotions, and internal mobility
  • Identify appropriate compensation solutions that align with business goals and unique circumstances
  • Guide compensation-related decision-making with data-driven insights
  • Conduct job evaluations and competitive assessments for market-aligned compensation
  • Collaborate on workforce planning and organizational initiatives to enhance talent strategies
  • Analyze market trends and contribute to compensation surveys for actionable insights

Benefits

  • Comprehensive retirement benefits including 401k and pension
  • Health and welfare benefits: medical, dental, and vision
  • Paid time off and parental/caregiver leave
  • Life and accident insurance, plus voluntary well-being benefits
  • Discretionary bonus program with potential equity component
Full Job Description
As a Compensation Business Partner at Northern Trust, you will serve as a strategic advisor to business leaders and HR partners, helping shape compensation decisions that attract, retain, and motivate top talent while supporting business objectives. This role combines deep compensation expertise with strong consulting, analytical, and influencing skills to provide market-informed, equitable, and governance-aligned solutions across a range of complex talent and organizational matters. You will partner closely with leaders to translate compensation philosophy into practical business outcomes, guide critical pay decisions, and deliver insights that drive effective workforce and talent strategies across the organization.
Key Responsibilities
  • Serve as a trusted compensation advisor to business leaders and HR partners, translating corporate compensation philosophy, programs, and governance requirements into practical solutions that support business objectives.
  • Consult with leaders on compensation decisions including offers, promotions, internal mobility, retention actions, and organizational changes, balancing business needs with market competitiveness, internal equity, and corporate guidelines.
  • Partner with business and HR stakeholders to navigate competing priorities, identifying when standard compensation programs appropriately address business needs and when unique business circumstances warrant consideration of alternative approaches supported by a clear business rationale.
  • Influence and guide compensation-related decisions through data-driven insights and effective communication, helping leaders understand trade-offs, risks, and implications of various compensation strategies.
  • Conduct job evaluations, market pricing, pay equity reviews, and competitive assessments to develop fair, market-aligned, and internally consistent compensation recommendations.
  • Collaborate with HR Business Partners and business leaders on workforce planning, talent strategies, and organizational initiatives, providing compensation expertise to support talent attraction, retention, and engagement.
  • Analyze market trends and participate in compensation survey submissions, translating external data into actionable insights and recommendations for leadership.
  • Support enterprise compensation programs and annual compensation cycles, including salary structure reviews, merit planning, incentive programs, and governance processes.
  • Contribute to the design, evaluation, and modeling of compensation and incentive programs, ensuring alignment with business objectives, talent strategies, and corporate compensation philosophy.
  • Interpret and apply compensation policies and governance requirements, while exercising sound judgment to address complex business situations in a consistent and compliant manner.
  • Develop and deliver compensation education, presentations, and training, translating complex compensation concepts into clear, actionable guidance for HR and business audiences.
  • Build strong relationships across the organization, serving as a credible consultant who can effectively influence stakeholders, manage challenging conversations, and drive alignment between business objectives and compensation strategy.

Knowledge

  • Skilled at translating complex compensation concepts into clear business recommendations and executive-level communications
  • Strong and commercially sound understanding of compensation governance, regulatory requirements, and industry best practices
  • Ability to influence and partner with senior leaders, HR teams, and cross-functional stakeholders
  • Advanced analytical, problem-solving, and decision-support capabilities
  • Proficiency in Microsoft Excel and HRIS/compensation systems (e.g., Workday)

Experience

  • Bachelor's degree in Human Resources, Finance, Business, or a related field; CCP certification or advanced degree preferred
  • Minimum 7 years of progressive compensation experience, including significant client-facing or consulting responsibilities
  • Demonstrated ability to partner with senior business leaders and HR stakeholders on complex compensation matters
  • Proven experience balancing enterprise compensation philosophy with evolving business needs while maintaining governance and consistency
  • Strong executive communication, stakeholder management, and influence skills

Salary Range:

$137,400 - 240,400 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

About Northern Trust

Northern Trust is a global leader in delivering innovative investment management, asset and fund administration, and fiduciary and banking solutions to corporations, institutions, and affluent individuals. They have evolved with the changing needs of their clients and their world.

Northern Trust Careers

Joining Northern Trust means becoming part of a global financial services institution that is dedicated to providing expert guidance and innovative solutions to its clients. At Northern Trust, we pride ourselves on fostering a culture of leadership, diversity, and innovation, which makes us a premier destination for career growth in the financial industry.

Work You’ll Do

At Northern Trust, you will collaborate with some of the most talented professionals in the financial sector. Our team is committed to excellence and equipped with a diverse range of skills that contribute to our dynamic environment. Here, you will have the opportunity to lead projects that transform our services and drive significant value for our clients across the globe.

Explore Job Opportunities and Internships

Whether you are starting your career or looking to make a significant impact in the financial industry, Northern Trust offers a variety of job opportunities and internships that will help you achieve your professional goals. From entry-level positions to leadership roles, our company is actively hiring individuals who are passionate, curious, and driven to excel.

Innovative Work

Northern Trust is at the forefront of financial innovation. Our employees are encouraged to think creatively and leverage cutting-edge technologies to solve complex problems. By joining our team, you will work on pioneering solutions that redefine the standards of financial services.

Be Part of a Great Team

Our team at Northern Trust is more than just a group of employees – we are a community. We value collaboration, and our culture is built on mutual respect and a commitment to diversity and inclusion. Working with us, you will experience a supportive network that is passionate about sharing knowledge and ideas.

Future-Proof Your Career

Northern Trust is dedicated to your professional development. We offer comprehensive benefits, diversity training, and numerous resources to help you grow your career. With our support, you can expand your skills, gain valuable experience, and achieve professional certifications that will enhance your career trajectory.

Stay Connected

Join Our Team

Discover the perfect role for you at Northern Trust by exploring our current job openings that match your skills and interests. We are looking for professionals who are solution-driven and eager to contribute to our legacy of financial excellence.

Keep Up to Date

Stay informed with the latest career tips, industry insights, and professional growth opportunities—all available through our careers blog. At Northern Trust, we ensure that our team members are always ahead in the industry.

Job Alert Emails

Customize your experience by subscribing to job alerts and insider tips tailored to your preferences. At Northern Trust, exciting and rewarding opportunities are always on the horizon, and we are eager to see where your talents can take us. Join Northern Trust today and be part of a company that values innovation, leadership, and a diverse and inclusive workplace. Here, every position is a chance to contribute to something bigger and to turn your job into a meaningful career.
Learn more about Northern Trust
Size
21,100 employees
Market Cap
$18.1 billion
Industry
Net Income
$1.2 billion
Founded
1889
5 Year Trend
+4.9%
Revenue
$6.1 billion
NASDAQ

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