LPL Financial reviews

3.4

57% would recommend to a friend

(556 total reviews)
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Rich Steinmeier

65% approve of CEO

58% positive business outlook

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556 reviews

Reviews about "Compensation"

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3.0
Jan 11, 2015

Awesome 1st year - then hell on earth

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Awesome new building with lots of amenities (I miss the salad bar) and very centrally located. Pay was pretty competitive for my position, and the bonus structure was 'fair'. Benefits are AWESOME. I hated leaving the COMPANY - seemed they really cared about taking care of their employees and making them happy.

Cons

Where do i start? My department was reorganized 3 times while I was there (a little over 3 years) with 3 different top managers. Sooooo many AVPs - and what, exactly is their purpose?? Some of the managers were quite vindictive too and would throw you under the bus in a heartbeat to save their own neck. Or, they would take credit for something you did. When we were shorthanded I would often pull 12 hour shifts even though I wasn't asked. I was salaried so OT didn't matter. I never even got a Thank You or offered help. I was frequently called a liar (not in so many words though) and made to feel about 3 inches tall. The politics are so freaking bad and you can't trust anyone. They talk about getting rid of the silos, but nothing gets done about it. At one point I was in 6 hours of meetings a day, 1 hour for lunch, and that left 1 hour to get 8 hours of work done. If you don't stick to your guns about your time there in the office, it will consume you.

2.0
Jan 4, 2015
Recommend
CEO approval
Business Outlook

Pros

New 13-story building with lots of amenities; adjustable ergonomic desks, cafeteria serving good, healthy options, onsite gym and clinic, game room, Starbucks. Excellent work environment, flexible schedules, good benefits, work/life balance. Smart, friendly, hard working people there, lots of great talent. Decent technology, getting better. 25 cent sodas, good location.

Cons

Very political and cut-throat, the textbook definition of a good ol' boys club. Rampant outsourcing throughout the company to increase the bottom line, beholden to their shareholders and not the employees. Very poor communication throughout the company (lots of silos). The company is very reactionary, and seems to always be in fire-fighting mode. Pay was good at first, but meager merit increases (usually .40 to .60 per year), meant you fell behind market-rate relatively quickly. The company is insanely top-heavy; there are tons of AVPs and VPs doing the job of a manager or a business analyst, and yet are not managing people (nor do they have management skills.) People are considered expendable; half of the software engineers and PMs were contractors that were kept for a year or longer, then suddenly let go at a moments notice when management decided they weren't needed anymore (lots of churn and burn.) There is so much more than the above, and this is only scratching the surface.

5.0
Nov 19, 2014

Great place to work

Recommend
CEO approval
Business Outlook

Pros

Management, work schedule, PTO, they listen

Cons

Salaries, YE bonus not paid until mid-March, internal mobility salary cap.

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