Compensation Senior Consultant

Northern Trust Corp.; Chicago (IL); Hybrid; USD 96,000 - 162,000; Full time

Benefits offered by this job

401(k) and pension

Health and welfare benefits

Paid time off

Discretionary bonus program

Job summary

Northern Trust Corp. is seeking a Senior Compensation Consultant to guide pay decisions for ECOO and partner with HR leaders globally. You will translate compensation philosophy into practical actions and deliver executive-ready analyses across base pay, incentives, and equity programs.

The role requires strong governance and communication skills, with 7+ years in compensation and a track record of stakeholder collaboration in a complex, regulated environment. Hybrid work is offered.

Qualifications

• 7+ years of progressive compensation experience.
• Bachelor's degree in Business, Finance, Economics, Human Resources, or related field.
• Strong consulting, analytical, and influencing skills.

Responsibilities

• Serve as a trusted compensation advisor to HR partners and leaders.
• Develop recommendations for internal moves, retention, and pay decisions.
• Lead the global annual compensation cycle including data validation and governance.

Skills

Compensation strategy

Stakeholder management

Analytical skills

Executive communications

Education

Bachelor's degree in Business/Finance/HR

Tools

Excel

PowerPoint

Job description

About Northern TrustAs a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.Join Northern Trust's Enterprise Chief Operating Office (ECOO) and play a critical role in shaping compensation strategies that support one of the organization's most dynamic and globally connected functions. As a Compensation Senior Consultant, you will serve as a trusted advisor to business leaders and HR partners, helping drive 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 support effective workforce and talent strategies.Key ResponsibilitiesServe as a trusted compensation advisor for assigned business units and functions within ECOO, providing guidance to HR Business Partners, Talent Acquisition, and business leaders on complex compensation matters.Develop recommendations for internal moves, retention situations, off-cycle adjustments, reorganizations, and other pay decisions, balancing external market data, internal equity, business priorities, affordability, and governance requirements.Translate business and workforce needs into practical compensation solutions across base pay, short-term incentives, sales or other variable compensation programs, and recognition programs, as applicable.Conduct and present job evaluations, leveling assessments, market-pricing analyses, and pay recommendations; support the consistent application of the global job architecture, career framework, and salary structures.Facilitate compensation discussions with HR and business leaders, explain complex or sensitive information clearly, challenge assumptions constructively, and build alignment around recommended actions.Monitor external compensation practices, labor market developments, and relevant regulatory changes; assess implications and recommend appropriate responses.Develop executive-ready analyses and materials that convert complex compensation data into clear findings, alternatives, risks, and recommendations.Lead and support the global annual compensation cycle, including planning, data validation, market and pay-equity analysis, system testing, stakeholder communications, manager and HR enablement, issue resolution, and post-cycle review.Knowledge and SkillsAdvanced knowledge of broad-based compensation principles and practices, including:Market pricing and compensation surveysJob evaluation, job leveling, and job architectureSalary structures and pay administrationBase pay, merit, and variable or incentive compensationInternal equity, pay equity, pay transparency, and compensation governanceIn addition, the successful candidate will possess:Strong compensation consulting and stakeholder management skills, with the judgment to develop, explain, and defend recommendations.Strong analytical and critical-thinking skills; able to work with complex data, identify material themes and risks, develop alternatives, and translate findings into actionable recommendations.Demonstrated business acumen and ability to connect compensation decisions to talent, workforce, financial, risk, and business considerations.Strong written, verbal, presentation, and facilitation skills, with the ability to communicate effectively with HR partners, managers, and senior leaders.Strong project management and change management capabilities, including the ability to organize work across multiple stakeholders, priorities, countries, and workstreams.Advanced Microsoft Excel and PowerPoint skills, with proficiency working with large datasets, analytical models, and executive-ready presentations.Experience7+ years of progressive compensation experience, preferably within the financial services industry.EducationBachelor's degree in Business, Finance, Economics, Human Resources, or a related field, or an equivalent combination of education and relevant experience.#LI-HybridSalary Range:$95,600 - 162,400 USDSalary 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.Work AuthorizationApplicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).Working with UsAs a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.Reasonable AccommodationNorthern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.