Reply to: Lloyds Bank Group - permanent

[northernladyuk]

I am abroad - I had better things to do than to hunt for a pound sign.

'GBP' is a reasonable substitute.

[DSF70]

Sneaky Simon is on the right lines with the pension. I think it's 13% if you contribute 5%.

The bonus scheme sounds like Band F - Senior Manager type level, and it ranges from 0-40% depending on your performance rating. Only a tiny % of staff get the top award on the bell curve. If you get the middle rating then it's 20% supposedly. However this is subject to a number of multipliers depending on overall LBG performance, Divisional performance etc. Multipliers always seem to be less than 1.00, so I used to call them 'dividers'! The Senior Manager bonus scheme has different rules to the 'plebs' scheme I was on as a permie there (25+ years). My old boss got something like 11% as a middle performer, so lost 9%, because of this condition and that condition.

I left last summer. It wasn't the place it used to be.

[SneakySimon]

Stay Clasy

Don't you have a pound sign, "£", on your keyboard?

You look like a plant otherwise.

I am abroad - I had better things to do than to hunt for a pound sign.

[SueEllen]

I have gone perm at LLoyds in December 2016 - works perfectly for my circumstances after contracting 13 years - WFH 3-4 days per week, decent pay and pretty good perks.

I think your getting confused on the pension - the 18% is you put in 6%, Lloyd's the rest - still not bad!

The sharesave is pretty good - you can put in ($ = pounds!) up to $150 quid and then they give you $30 and as this is done pre tax, for $180 of share per month, it costs you around $80 - not bad, just got to wait 3 years and also hope the share price rises a bit!

Also, you can get a staff mortgage - base rate on the first 200k then very low over that - you get taxed obviously but still a nice perk.......

Don't you have a pound sign, "£", on your keyboard?

You look like a plant otherwise.

[SneakySimon]

Lloyds Perm

I have gone perm at LLoyds in December 2016 - works perfectly for my circumstances after contracting 13 years - WFH 3-4 days per week, decent pay and pretty good perks.

I think your getting confused on the pension - the 18% is you put in 6%, Lloyd's the rest - still not bad!

The sharesave is pretty good - you can put in ($ = pounds!) up to $150 quid and then they give you $30 and as this is done pre tax, for $180 of share per month, it costs you around $80 - not bad, just got to wait 3 years and also hope the share price rises a bit!

Also, you can get a staff mortgage - base rate on the first 200k then very low over that - you get taxed obviously but still a nice perk.......

[uk contractor]

I worked at Emerald House a few years ago. It was OK until they cancelled the project one day and kicked all the contractors out on the spot!

Yeah sounds like London alright! Gresham Street offices are the worse of all though.......

[BoggyMcCBoggyFace]

On the other hand....

I've been at LBG since last September and have been enjoying it greatly hence not coming on here for the past few months.

That's causes its British bank were tbh it a piece of p*ss to work at, nice hrs, hardly any stress, yes I'm jealous as I'm at a US bank and done stints at LBG, RBS, ING, working at US bank or at least the one I'm at has aged me significantly. Only benefit I can see from it is working anywhere else compared to were I am now will be like a holiday.

[Robk999]

Make sure you never relocate to the London offices then a completely different experience for some but not all contractors!

I worked at Emerald House a few years ago. It was OK until they cancelled the project one day and kicked all the contractors out on the spot!

[uk contractor]

Out here in the sticks it's a very positive experience.

Make sure you never relocate to the London offices then a completely different experience for some but not all contractors!

[NickNick]

You based in the City of London inv banking offices though? Outside London I am sure its a much different more positive experience I understand from contractors I met in London who travel to regional offices & only spend a day in City of London.

Out here in the sticks it's a very positive experience.

[northernladyuk]

Sounds all too familiar. It's just a case of jumping from company to company as they bring things back in house.

They could do a tag chief exec team.

[Andy2]

Sounds all too familiar. It's just a case of jumping from company to company as they bring things back in house.

Job of a CEO has to be best in the world. They hop from company to company with not a care in the world, getting rewarded millions for their success as well as failure,make short term decisions and collect money, golden handshakes , benefits. Whats not to like.

[LondonManc]

Several years ago I contracted at a bank that outsourced much of their IT work to India too. Was the most depressing place I ever worked at.

It was clear that senior management were on commission for offshoring as much as they could, with little regard for skills or service.

As a senior executive, you're brought in to deliver a profit/share price boost and are on a huge bonus to deliver this over three years.
In the simple "profit = revenue - cost" equation, unless you are an absolute superstar, you won't be affecting revenue much. The easiest route is therefore slash costs. Doesn't matter who is affected, the board's bonus payments are at stake here. Strip all the costs out, offshore to bobland and boom, there's your profit. Of course, nobody has actually considered the ability to execute three years down the line.

These executives are known as seagulls. They fly in, tulip over everything, take your chips and leave you to clean up afterwards.

[rocktronAMP]

Shame LBG are so tulip to work for

* The failure of the firm-wide e-Vision project (circa 2008/2009)

* The bad advice to invest in Microsoft SilverLight (circa 2009/2010) and kick out the Java engineering expertise.

* The terrible merger with HBOS



Cheeser's Price! (phonetic)




We, The tax payer, still own 5% of 'em But the package is impressive and beats London's typical starting package. Strange they killed off WFH. Why? Legacy technology Reuters MarketsLink still doing the rounds over there (St. Paul's office), maybe?

[uk contractor]

4.988 according to the Intranet homepage!

Not noticed any animosity towards contractors.....mainly because it's around a 50/50 split in the area I'm in.


Apart from the many many IT support people all over the UK. Did you mean IT Helpdesk or something?

You based in the City of London inv banking offices though? Outside London I am sure its a much different more positive experience I understand from contractors I met in London who travel to regional offices & only spend a day in City of London.