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12 December 2022

LBG pay 2023 ballot analysis

The main headlines
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Pay 2023 pay ballot analysis - the main headlines

We’ve carried out some further analysis on how members voted in our ballot on LBG’s 2023 pay proposals.

The main headlines are:

Of those who voted ‘No’, the most common reason for members in grades A & B was they need more help with rising mortgage interest rates / rent costs; for grades C – F it was because they felt the proposals represented a pay cut due to inflation and grade G was split between inflation and a view that pay in LBG is not keeping pace with competitors.

View analysis presentation slides

Next steps

Further analysis is taking place to identify any specific job roles or populations where the voting pattern was significantly different to the overall trends.

Further talks with Lloyds Banking Group will follow.

The union is keen to complete the review of roles in grades A & B as originally agreed in the 2019 pay agreement.

The remuneration for branch managers, team leaders and some other roles in grade C also needs to be looked at in more detail.

Any queries should be sent to [email protected]

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