LR Advisory Europe

Vault’s Verdict

If you have an interest in consulting in the maritime and offshore industry with a purpose-driven organization that gives back to society, then LR Advisors should sit at the top of your list. The firm returns all profits to its charitable foundation while offering stimulating work, the potential for world travel, and high levels of flexibility. Employees often interact with or travel to visit colleagues and clients all over the world (although it seems not everyone travels), and employees have high levels of autonomy over their work style and work hours.

Staff can work remotely at least some of the time, with the standard being three days per week. While some projects require long hours—as does working on global projects—the firm makes it easy to request time off. 

To get new employees up to speed quickly, the firm assigns new hires a designated mentor, which they can opt to change later on to get exposure to more areas of the company. Promotions and training follow an established framework, and staff have many opportunities to move into new positions, both laterally and vertically.

Compensation at LR Advisors is not at the top of the market but is competitive, with an annual performance bonus of about 5 percent of salary and yearly inflation adjustments. The firm also provides full private medical coverage and financial support for home-office setups.

Employee Reviews

Firm Culture

• “Nice culture and openness to work freely.”
• “We're a growing team in a 24/7 industry. So, when required, we flex. That said, there is plenty of flexibility around this.”
• “Everyone is happy to support others without the negative culture wars that occur at so many firms. In London, we work a 7-hour day; however, as necessary, we are happy to put in extra hours to make sure that quality is assured and that colleagues are helped appropriately. Taking time off is not a worry. This is granted as requested in my experience. The work-from-home practice is a key factor for me, and this will keep me at the company, apart from any of the other positives which I have noted.”
• “Purpose-driven company led by LR foundation rather than shareholders. Profit goes back to society in making this planet safer.”

Quality of Life

• “LR has a flexible approach towards work, and employees are quite free and independent to manage their tasks. Time off is respected and always granted when applied for.”
• “The company offers the flexibility to work from home three days per week which is good in terms of saving time and fuel. It also promotes work-life balance through various webinars, courses, etc. Taking time off is easy through the company's portal, and there is no paperwork required.”
• “The firm generally supports flexible working hours, allowing employees to manage their work-life balance effectively. Some projects or deadlines require extended hours, which can be challenging to manage alongside personal commitments.”
• “Freedom to work on the project of your own choice to sharp your skills and support your career development. LR invests in our growth.”

Career Development

• “We have a great mentoring program, and after a time you can opt to change your mentor to gain more depth in other areas.”
• “The promotion process is smooth and not bureaucratic. There is a well-laid-out training framework for all. Regular trainings are assigned, and you have access to a vast pool of inhouse trainings and classroom trainings.”
• “The informal mentoring and training is very good. It is open and constructive. Formal training is also available to all and linked to annual development programs, which makes it trackable and visible. International mobility and opportunities are actively encouraged within the business and all opportunities shared on a regular basis. The promotion process is clear and easy to understand, but the opportunities, at my level, are more limited, just due to the organization layout, but I can see that they are prevalent at lower grades.”
• “LR has a wide choice of career progression, and employees can move horizontally and vertically relatively easily.”

Compensation

• “Apart from the salary, which is annually increased taking into account the inflation, there is also a performance-based yearly bonus (normally 5 percent of the yearly salary). The company also provides life and health insurance and a pension plan, without any cost to the employee.”
• “It's fair for the consulting world but could be more competitive. Bonuses are small compared to other firms unless very senior.”
• “The salary package is decent, not top tier. The pension scheme is excellent, with the company providing a strong contribution. This is also well managed with an online portal for any changes which the employee wishes to make. Inflation increases for me have been very good over the past two years.”
• “The company provides full private medical coverage with access to 24/7 doctors, etc. The firm will support with the supply of chairs, tables, etc. to employees for their home office to support better posture.”

Business Outlook

• “LR is a reputable brand that includes both the traditional Classification (Statutory) service and the newly established LR Advisory business. The LR motto is ‘We Care, We Share, We Do the Right Thing,’ and every colleague is encouraged to carry out the daily work, upholding the values of integrity, transparency, and professionalism. When it comes to weaknesses, there is still a way to go in terms of being easy to do business with. The integration of various platforms/applications that we use into a single platform is also a challenge.”
• “The firm is well-placed to take advantage of changes within the shipping sector. We have built the right capabilities and are being recognized as a leader in the provision of advisory services for shipping. The advisory team consists of the right people with very strong technical and advisory capabilities, specialists within the shipping sector. As with all sectors, we tend to see a cooling off of activity and the outlook beyond the next five years is less certain as the energy transition gradually matures.”
• “We are a class society, so in an oligopoly, and have high confidence in our annual income, and therefore, secure business. Weakness is that the situation breeds complacency.”
• “LR Advisory is one of the front runners in the maritime industry.”

Hiring Process

• “There is a two-step interview process: A first step where the general role is described and the candidate CV is discussed. The candidates that pass the first step move to a knowledge interview where different scenario-based questions are asked to measure the competencies of the candidates. An ideal candidate is one that has a strong technical knowledge on Naval Architecture, Marine Engineering, Mechanical Engineering, Data Science, and Modelling. The candidate has to have good presentation skills and must be able to synthesize complex concepts to easy-to-digest key points. Coding is expected, as is disposition to travel.”
• “My interview was supposed to be three rounds but ended up being two rounds. I was hired out of 120+ candidates. The whole interview and callback process took roughly 1.5 months. The ideal candidate I believe we are looking for is someone who has the technical skills but also the personality to work with our cross-disciplinary team.”
• “As far as I can tell, the interview and callback process was completed within a reasonable time period. I believe that both the academic/work experience and the candidate’s soft skills (respectful behavior/attitude, etc.) are equally important.”
• “The process was straightforward and effective: one informal and one formal interview, followed by the offer decision.”

Interview Questions

• “We serve the O&G markets. How would you position the firm for the lows in the cyclical nature of the market?”
• “Having 300,000 observations on performance sensors of a ship, how would you go about creating the performance map of the ship and how do you detect areas of energy efficiency improvements? How do you correlate displacement, speed, and power? Give a 15-minute presentation on what are the current technologies that can enable the energy transition for shipping.”
• “What will be your first 100 days’ plan?”
• “What are the three problems you see in the maritime industry from your perspective?”

Uppers

• “Independence in taking business decisions”
• “Training and hands-on experience come quickly through diverse projects and collaboration with colleagues worldwide.”
• “We are continuously learning and have a very polite atmosphere in office.”
• “Prestige (company brand/history), flexible working, pension.”

Downers

• “Hours can be irregular since meetings follow client and colleague time zones, but the flexibility is worthwhile given the growth you gain.”
• “Capabilities are scattered across different parts of the world.”
• “Career developments, training opportunities, work-life balance, low salary.”
• “Team face-to-face time is challenging due to the global nature of our set up.”