Lehman Brothers

  www.lehman.com
  www.lehman.com

Lehman Brothers Reviews

Updated December 14, 2014
Updated December 14, 2014
192 Reviews
4.2
192 Reviews
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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 20 reviews)

  • Towards the end there was morebegoninvolved by he senior management and that led to the rims downfall (in 15 reviews)

More Highlights

16 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    It is no longer around

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Lehman Brothers full-time (less than an year)

    Pros

    Was a good place to work while it lasted

    Cons

    Obviously risk control wasnt a strong suit

    Doesn't Recommend
    Negative Outlook
  2.  

    Company is downsizing.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Lehman Brothers full-time (more than 3 years)

    Pros

    Not much. Firm is closing down as soon as they can.

    Cons

    Low morale. Even if you want to do something good some old-minded folks will shut you down.

    Advice to ManagementAdvice

    Instill some culture, enable ideas even if you are closing the company.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3. 1 person found this helpful  

    Horrible management.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Loan Servicing in Lake Forest, CA
    Former Employee - Loan Servicing in Lake Forest, CA

    I worked at Lehman Brothers full-time (more than 3 years)

    Pros

    The pay was decent for the position.

    Cons

    Incompetent managers, some of which were dishonest and downright shady.

    Advice to ManagementAdvice

    It's too late to give advice to management. They will go out in a matter of a few years.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5.  

    Very Hierarchical structure, CEO & COO weren't honest with employees

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Lehman Brothers

    Pros

    An environment where you could learn a lot

    Cons

    Political environment made it difficult for people to be honest

  6.  

    Unchallenging and mildly pleasant place to work.

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

    I worked at Lehman Brothers

    Pros

    Lots of food around the office. Fast elevators to whisk you in and out. Some great people around to work with.

    Cons

    Aside from working at the flashpoint of the subprime financial meltdown, it's the incredibly political, aggressive environment. It's the kind of job you don't really need to think about.

    Advice to ManagementAdvice

    Give something back.

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

    glad i got of there

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

    I worked at Lehman Brothers

    Pros

    looked great on resume. i learned a lot about financial marketing, industry players, and key executive people. nice location to work, and the mentorship programs was nice too.

    Cons

    well, it tanked. it could not be that great of a company if it had to close. some upper management were cocky. other times, it felt like the old boy network. if you are a woman, you have to work extra hard to prove your worth

    Advice to ManagementAdvice

    well, you guys dont exist any more. so my advice is to find another job and dont mess up the next organization.

    Doesn't Recommend
    No opinion of CEO
  8.  

    Lehman Brothers, Bankruptcy and one summer.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Summer Intern in Littleton, CO
    Former Employee - Summer Intern in Littleton, CO

    I worked at Lehman Brothers

    Pros

    Lehman pays well and has excellent benefits. They also provide all employees with investment research for free. The firm had a history and track record of doing the right things. Lehman did provide training for the job. Upper level managers are generally well trained.

    Cons

    They are bankrupt and my paycheck was late and effected by the bankruptcy. My direct supervisor was a pretty poor. His boss was great. I do think my internship coincided with a bad time for the company and a bad time personally for my direct supervisor. Unfortunately in the summer of 2008 management had bigger fish to fry than a poor line supervisor at ALS.

    Advice to ManagementAdvice

    Senior management needs to be more candid and straightforward with employees.

    Doesn't Recommend
    Disapproves of CEO
  9. 2 people found this helpful  

    Greedy Top Executives Wildly Overpaid, Everyone Else Gets Screwed

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

    I worked at Lehman Brothers

    Pros

    Flexible work schedules.
    Met some really great people.

    Cons

    Cheap in paying people. We would get e-mails and see postings around the firm every day saying how great we were and that we're #1 in all types of rankings, but it never translated into pay for the average worker. And now in hindsight, upper management was completely incompetent and way overpaid. Greed won out over prudent risk management, but it's the average worker that got hurt the most. Upper management misrepresented the firm and lied to us as they paid themselves first. Then the Bankruptcy - it was bad enough getting laid off, but now they aren't honoring the severance packages.

    Advice to ManagementAdvice

    Take a huge salary cut - you don't deserve it for what you did to an otherwise good firm and how you ruined so many lives with the bankruptcy, loss of severance, loss of stocks, loss of 401k. There's no way for you to justify your compensation. Especially Dick Fuld - $71.9 million total comp in 07? How does he sleep at night?

    Doesn't Recommend
    Disapproves of CEO
  10.  

    Join LEH if you are a workaholic

    • 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

    Competitive Salary - Free Coffee and Tea

    Cons

    Dealing with manual process which is totally not value-added to your career in the street.
    Long hours - can get calls or ask to work during weekends.
    Senior managers have scope but middle managers have no clue how to excecute.

    Advice to ManagementAdvice

    Need to bring Lehman internal control to be more in line with the other firms in the street. Should adopt more new blood from the outside world in order to bring in more colors and ideas to the firm.

    Doesn't Recommend
    No opinion of CEO
  11.  

    Ugh

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

    I worked at Lehman Brothers

    Pros

    It was a prestigious place to work

    Cons

    It's a very mercenary environment filled with political intrigue. Everything was always very resourced constrained to the point of being idiotic. Getting small expenses approved likely required more overhead than the actual expense involved (e.g. It would takes months to get an $100 expense approved)

    Advice to ManagementAdvice

    You reap what you sow, in the sense that a mercenary culture inevitably leads to short-termism. My department was rather directionless and I think this reflects the uncertainty in the minds of management

    Doesn't Recommend
    Disapproves of CEO

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