Lehman Brothers Reviews

187 Reviews
4.2
187 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Lehman Brothers CEO Richard Fuld Jr.
Richard Fuld Jr.
21 Ratings

Review Highlights

Pros
  • Great work life balance and financial packet (in 14 reviews)

  • Ahead of other investment banks in promotion of women (in 15 reviews)


Cons
  • Bankruptcy, Long hours, management too aggressive with risk, greed, and cut-throat policies (in 19 reviews)

  • Towards the end there was morebegoninvolved by he senior management and that led to the rims downfall (in 14 reviews)

More Highlights

16 Employee Reviews Back to all reviews

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  1.  

    Ok place to be given compensation and work-life balance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY

    I have been working at Lehman Brothers

    Pros

    Compensation, work-life balance, and relative lack of stress are all benefits of working at the Lehman Estate in bankruptcy these days

    Cons

    Over time, the finite end to the bankruptcy and lack of urgency surroudning many activiites can be somewhat dispiriting and demotivating

    Advice to ManagementAdvice

    More effective communication with staff about the firm's goals, direction and plans would be welcome. It would have some positive impact on morale

    Disapproves of CEO
  2.  

    I entered Lehman Brothers as an intern in 2008.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Tax Intern in Jersey City, NJ
    Current Employee - Tax Intern in Jersey City, NJ

    I have been working at Lehman Brothers

    Pros

    compensation is very fair compared to other internships

    Cons

    No room for growth as of now

    Advice to ManagementAdvice

    more hands on projects

    Approves of CEO
  3.  

    An educational and growing experience in Finance.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Analyst in New York, NY
    Current Employee - Analyst in New York, NY

    I have been working at Lehman Brothers

    Pros

    Working with some of the brightest people in the industry.

    Cons

    Since Bankrupcty, promotions and raises are not offered to those individuals who have shown progression and devotion to the cause. Performance reviews are not conducted.

    Doesn't Recommend
    No opinion of CEO
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  5.  

    Never More

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Lehman Brothers

    Pros

    At one point an AMAZING brand...now just a memory of what could/should have been. Such a shame that so many are out of work

    Cons

    We went bankrupt....is there any more to say??? Leaders lead us to a hole in the ground and made the Firm a disgrace

    Advice to ManagementAdvice

    Managers need to have open eyes at all times and be aware of what people are trying to tell them...

    Recommends
    No opinion of CEO
  6.  

    The biggest beneficiary of Lehman Bankruptcy

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Assistant Vice President in New York, NY
    Current Employee - Assistant Vice President in New York, NY

    I have been working at Lehman Brothers

    Pros

    The current job market' mobility is very limited. If you have a real job outside, you might not want to work with LB. Following by the bankruptcy of LB, certain employees are asked to stay with LB and worked for the liquidation. Initially it said the whole bankruptcy process will take 5-10 years - Now the forecast had changed to 2 years aggressively. Good thing about working for LB in these days are all employees are on contractual basis - so for your contract period, you do not need to worry you would lose your income. If you can survive throughout the bankruptcy process, you might be able to transit to the new company while LB exited from bankruptcy.

    Cons

    Now LB is called as a bankrupt company. This is just a job - no future prospect. Depends on your work ethics, you might still have to work very hard but you no longer receive "performance-based" compensation. Everything is said on the contract and the majority of people shared the same terms. Lot of broken process, lot of knowledgable people left the firm and many people tried to figure out the missing process and its rationale. There are also the people from the so-called "administrator". They do not have best talents working in lehman. Some people don't even understand the investment broker-dealer terms and have literally no and light working experience in financial service industry. These people added lot of works to lehman legacy employees as Lehman legacy employees have to do FAQ for them all the time - repeatively.

    Advice to ManagementAdvice

    Lehman legacy senior managment do not communicate with the lehman legacy employees anymore. The firm is run by Alvarez & Marsal.

    Doesn't Recommend
    No opinion of CEO
  7. 1 person found this helpful  

    If you get a great manager then you will love it.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Ops Analyst in New York, NY
    Current Employee - Ops Analyst in New York, NY

    I have been working at Lehman Brothers

    Pros

    For the operations class you get overtime which is wonderful. In addition, a work life balance is encouraged. The second most important thing is to network. If you do not do this then you will be stuck an analyst forever. Therefore you must attend events with WILL and various volunteer gigs. If you get sick then there is always a nurse and rest rooms. If they think that you need to go home, they send you off in a town car. Typically your managers are great and there is no closed door. People are really nice and laid back.

    Cons

    Your expierance all depends on your manager. If you work in the New Jersey office and plan on moving to front office BEWARE. You much absolutely network your butt off to get ahead. Try to meet MD's or VP's from other groups, it would typically be middle office. From there you would network with the sales traders. Visit the trading floor as much as possible and try to attend as many happy hours as you can. These are the keys to success as lehman. It is not who you know, rather it is who knows you. Oh and be friendly and laid back and you will fit in.

    Advice to ManagementAdvice

    Encourage mobility and increase bonuses for the support function. They are very very small compared to the other banks.

    Recommends
    No opinion of CEO
  8.  

    Icarus flew too close

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - IT Manager in New York, NY
    Current Employee - IT Manager in New York, NY

    I have been working at Lehman Brothers

    Pros

    At the time it was the network possibilities. Just had to pick a rout and bust your ***.

    Cons

    Obviously, they made some bad moves and were over comfident that the Governemtn "corporate welfare" would kick in. Out of my hands though.

    Advice to ManagementAdvice

    Don't get overconfident and "trust but verify". When you think you're on top of the world, take a few minutes and to look around, you might just be standing in a wide hole.

    Doesn't Recommend
    Approves of CEO
  9.  

    Lehman survivors.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY

    I have been working at Lehman Brothers

    Pros

    Now there aren't many. If you happen to work in the businesses that ae sold you'll be the man that knows situation the bst and you'll have safety. whatever doesn't kill you will make you stonger.

    Cons

    It was very stresfull ecently when we were allowed to fail. People were thinking about leaving only.

    Advice to ManagementAdvice

    It's too late now, but don't get too leveraged and be conservative always.

    Disapproves of CEO
  10.  

    Good company for starters. Will enjoy the exposure and knowledge sharing culture.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Assistant Vice President
    Current Employee - Assistant Vice President

    I have been working at Lehman Brothers

    Pros

    It was a great place to start my career in Wall street. Lots of opportunities for self motivated people. The place gave good exposure and knowledge sharing opportunities for its employees. Being a smallish company in extra ordinarily tough times, it had its share of challenges..

    Cons

    IT dept is not sufficiently resources/funded.

    Advice to ManagementAdvice

    Improve communication.

    Doesn't Recommend
    Disapproves of CEO
  11.  

    culture of the team you work for is everything

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Sales Associate in New York, NY
    Current Employee - Sales Associate in New York, NY

    I have been working at Lehman Brothers

    Pros

    relatively laidback culture, good mobility options when times are good

    Cons

    lack of communication from managers

    Advice to ManagementAdvice

    provide more communication about future changes that might occur and what they are thinking in terms of leading the firm out of this crisis

    Approves of CEO

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