Career Advice 'Lloyds of London' Please Help

Jan 9, 2007

  1. hamertime79
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    hamertime79 New Member

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    Hi

    If anyone can offer me any career advice please help me out as I am not sure if I am making the right decision. :? Here is my situation:

    I am currently working as a Software Tester in a financial software house (Insurance Industry) in the city and it is my 2nd job and have only been here 3 months. Basically I passed a software tester qualification so started looking elsewhere as I thought I could get more money elsewhere.

    I was offered a job at ‘Lloyds of London’ as a software tester/business analyst which I took and then handed my notice in at my current work, when I did my project manager and line manager both said how they were really upset and valued my work and how if it was a case of money they would be able to sort something out.

    I still said I was going to take the Lloyds Job but have since had the MD say the same thing to me and they have offered me a big pay rise with a further pay rise of 14% in 6 months. It works out to be a really good package considering how junior I am and is 2or3 K more than Lloyds are offering with all the similar benefits.

    I have since decided to turn down the Lloyds job and stay where I am as they really are putting in the effort to keep me and I am obviously valued here.

    Is there anyone out there who has worked for Lloyds of London or knows anyone that has? I really need to know am I making the wrong decision as I have just had a 5 minute voicemail message from the recruitment agency saying how amazing the job is and how amazing ‘Lloyds of London’ is. I need to know if this is true or is it the same as any other company really.

    If anyone has any inside knowledge or advice I would really appreciate it as I donÂ’t want to make a really bad mistake.

    Thank you in advance.
    Ben
    :lol:
     
  2. K-Dub
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    K-Dub Super Genius

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    I know they are a big national insurance company who will insure your "ass" for a certain amount if you want to. I am contracted with them, but that's about it. As far as working on the inside I'm sure most people wouldn't have a clue.

    It's like working on the inside for Aetna, most agents have no idea. All they know is the customer service number for application status, nothing else.

    I'm sure you made the right decision though, if your current company uped the ante then I'd stay. The grass isn't always greener on the other side!

    Good luck!
     
    K-Dub, Jan 9, 2007
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  3. salpro22
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    salpro22 Guru

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    Congratulations on the raise. If you want to find out about a company the best avenues are google, reviews boards like this one, www.vault.com and the company itself. If you are still interested in working for Lloyds of London I recommend that you ask the person in charge of hiring if it is possible to spend half a day or even a full day with the people you will be working with every day. This is a GREAT way to get firsthand knowledge of a company and proves that you are serious about working for them.

    -J.R.
     
  4. Sam
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    Sam Founder Administrator

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    I am not saying that you wouldn't be better off at Lloyds, but the recruiter is VERY biased. If you stay where you are, he gets nothing, if you go to Lloyds, he gets a payday.

    It usually takes some time working for a company, before you are noticed and your contributions are appreciated. That is not something to give up easily.

    If you are good enough that they will raise you twice, then I would seriously consider staying.
     
    Sam, Jan 9, 2007
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  5. Steve
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    Steve Super Genius

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    Instead of worrying about Lloyd's, just look closely at what you have right now. They obviously value your service a great deal. You need to evaluate how much you like what you've got, taking more than the money into consideration. Happiness and proper balance outweighs a few thousand dollars, big-time.

    Being repetitive, look at what you've got -- not only at what you think something else might be...
     
    Steve, Jan 9, 2007
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  6. Guest
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    Guest Guest

    I have a friend that used to work a Lloyd's.

    He got in trouble because he did not work enough overtime (was not being compensated for it, he was not exempt. They wanted him to work more than 40 hours per week without claiming overtime). Was eventually let go.
     
    Guest, Jan 9, 2007
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  7. hamertime79
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    hamertime79 New Member

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    Although the company I am working for at the moment obviously isn't anyway near as prestigous I think I will stay where I am. I am already appreciated here and if I move to Lloyds it may take a long time to become valued plus I may not like it there so its a hell of a risk.

    I think I can live without having the prestige of working for such a financial instution.

    But please let me know if I anyone thinks I am making a big mistake by turning Lloyds down.
     
  8. somarco
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    somarco That Medicare Guy

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    Lloyds is an underwriting syndicate and a surplus lines carrier. Unless things have changed, they are a non-admitted carrier in the US. Is the job in the states or UK?

    By accepting one job and tendering your resignation at your current job, you may have created a situation that is unpleasant at either work place. You have indicated to both employers you can be bought. As such, they will be suspicious of your loyalty & tenure in the job and may start making strict demands to justify the pay raise.

    Any time an employer offers a pay raise in a counter offer you can bet they did not do so without strings attached.
     
    somarco, Jan 10, 2007
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  9. hamertime79
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    hamertime79 New Member

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    I had intended to move on to Lloyds but after I resigned my Line Manager, Project Manager and even the MD have been telling me how much they have appreciated my work and how they would love me to stay on as they had big plans for me. It really does make a difference to be appreciated like that so that is why I have changed my opinion.

    I do like my current job and intitually I wanted to move because I didnÂ’t think I was earning enough but now I have been offered a generous pay rise and ensured that if I decided to stay I would be looked after and will progress through the company.

    The company is ‘Lloyds of London’ the company is in the City of London, UK which is known across the world. My current company defiantly do not feel I can be bought and actually agree that I was worth more money than I was being paid so there is no friction between anyone.

    The only problem is that I will obviously upset Lloyds if I decide to stay here, but I have to do what I think is best for me.

    The main reason I posted my questions here was to see if anyone knew about ‘Lloyds of London’ as a company and whether they are such an amazing company to work for as they would have you believe or are they just like any other company.

    Is there anyone who has either worked for Lloyds of London or anyone that has any real knowledge of the company?

    Thanks again for all you comments
     
  10. salpro22
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    salpro22 Guru

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    I had intended to move on to Lloyds but after I resigned my Line Manager, Project Manager and even the MD have been telling me how much they have appreciated my work and how they would love me to stay on as they had big plans for me. It really does make a difference to be appreciated like that so that is why I have changed my opinion.

    >>>>It seems like your current employer values your skills as an employee and that you feel great satisfaction from being recognized for your accomplishment. Did they tell you about the big plans?

    I do like my current job and intitually I wanted to move because I didnÂ’t think I was earning enough but now I have been offered a generous pay rise and ensured that if I decided to stay I would be looked after and will progress through the company.

    >>>>>I imagine you conducted market research to reach the conclusion that your compensation was not up to par. If that is the case, what are you doing to improve your skills, knowledge and experience to warrant future pay increases.

    The company is ‘Lloyds of London’ the company is in the City of London, UK which is known across the world. My current company defiantly do not feel I can be bought and actually agree that I was worth more money than I was being paid so there is no friction between anyone.

    >>>>>>It is good to hear that they recognize your value.

    The only problem is that I will obviously upset Lloyds if I decide to stay here, but I have to do what I think is best for me.

    >>>>If you feel that you have done the right think then there shouldn't be a problem.

    The main reason I posted my questions here was to see if anyone knew about ‘Lloyds of London’ as a company and whether they are such an amazing company to work for as they would have you believe or are they just like any other company.

    >>>>Every company paints a rosey picture. It is up to you to decide through whatever methods you choose, if a switch is warranted.

    J.R.
     
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