Service personnel overall in LPL's home offices are overworked, understaffed, and if they didn't feel undervalued and underpaid 12 months ago, you will get a completely different answer today. If you were hired before 2016, you were more than likely hired at a certain hourly rate that was significantly lower than than the current hourly rate new employees are starting at who were brought onto LPL within the last 8-10 months. The handling of the fallout from executive leadership, once became known as a real hiring compensation level, to put it mildly, was insulting. STO employees had meetings with executives to explain that the reasons new hires were being paid more than current employees with more than 5+ years on the books was because we are recruiting better talent and raising our standards, as if the people they were saying this in front of apparently were not the standard. Current tenured employees were informed, as long as they met their goals and performed at a standard that was in accordance with the new hires pay structures, would also be promoted to the new hires pay structure. These promotions, as to when they would happen, the frequency of them, and if a wage increase would also be guaranteed at a certain thresh-hold, those answered changed and were inconsistent, at best, until the pressure from service personnel did not subside and this past July, the first batch of promotions were made, albeit spontaneously and with no rhyme or reason as to who or how the valuations were made. To date, employees are told every quarter, employees will be selected for promotion but don't hold any truth this. It is interesting to wonder if this would have been done if pay structures were found to be different.
