Lehman Brothers

  www.lehman.com
  www.lehman.com

Lehman Brothers Reviews

Updated October 18, 2014
Updated October 18, 2014
192 Reviews
4.2
192 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 20 reviews)

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

More Highlights

52 Employee Reviews Back to all reviews

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  1. 1 person found this helpful  

    Lehman lags other banks in compensation

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

    I worked at Lehman Brothers

    Pros

    Firm encourages educational growth - Human Resources does its best to get training for employees - Training on product and management is excellent -

    Cons

    Senior Management promotes based on friends and family program - compensation always lags the rest of wall street There is a disconnect between what people are taught in training and to what happens in the work place - In the Operations side upper management is known for promoting and giving the best opportunities to relatives and relatives of friends - Preach one thing to employees but do the opposite to their friends and family

    Advice to ManagementAdvice

    Should challenge the bank to be more of a meritocracy

    Approves of CEO
  2.  

    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
  3.  

    Great place to get your feet wet in finance.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - RMBS Financial Analyst in Denver, CO
    Current Employee - RMBS Financial Analyst in Denver, CO

    I have been working at Lehman Brothers

    Pros

    Great benefits, work-life balance and place to get your feet wet. Discover your core competencies here and refine your technical skills. Lehman Brothers is a great brand to have on your resume and will definitetly help you out on your career path.

    Cons

    Bonuses are currently non-existing, yet used in the initial recruitment of employees and considered in "Total Compensation". Raises are also minimal and barely keeping up with inflation. CEO is rewarded with bonuses, even when Firm is struggling. Transportation Program needs to be fully subsidized by the Firm.

    Advice to ManagementAdvice

    Recognition needs to be given for all individuals on high visibility projects. Spotlight needs to be shared and the competitive environment needs to be more collaborative. This increases employee morale, motivation and engages the employee.

    No opinion of CEO
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  5. 1 person found this helpful  

    Its cut and try business. Either you love it or you don't.

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

    I have been working at Lehman Brothers

    Pros

    Greeat reputation and very competitive benefits. The salary range varies widely, but it is nevertheless competitive.

    Cons

    There are a lot of cliques and the environment can be like "adult high school" all over again. Are not genuine when welcoming outsiders. Very fake in many aspects. Because of this it might be difficult for some to advance. Seniority, not genuise, plays precedent at LEH, which isn't always healthy.

    Advice to ManagementAdvice

    Great ideas spurt from the root. Look to ALL people below you for great ideas for growth and company improvements.

    Recommends
    Approves of CEO
  6. 1 person found this helpful  

    Good place to work but management communicates little. Very little

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

    I have been working at Lehman Brothers

    Pros

    Lehman is a great place to work because of its rep. It's a strong investment house with strong senior senior management. I will not speak to the everyday managers but senior (executives) mgmnt is very knowledgeable and have a good sense of direction of the markets. Some of their hedging policies might be too conservative and tight but still they are not known for being the out-of-control cowboys. This is good and bad. Can’t make much because you’re not risking enough. But then again one should not emulate Bear Stearns. Career Opportunities here are good. Management actually prefers when you move around. Learn as much as possible. Contribute as much as possible. This is a great tactic and its works on both sides of the street.

    Cons

    The culture. Even though it’s communicated strong and entact it seems that it’s anything but. I do love my colleagues; But its management. Management is key to success in any corp. When your management does not acknowledge you, does not say good morning, is not appreciative of the work you provide, will never say thank you, not even once - think about that for a moment - it gets under your skin. When you work for a "amazing" co such as lehman and then you have its rep tarnished because you’re constantly working with these type of people than you must think "is this the place for me?? Would Morgan or Goldman treat me - even a notch - better?"

    Advice to ManagementAdvice

    My advice to Senior Management is to review some of the complaints logged by HR. If you read that a person is constantly being questioned or complained about by his own subordinates please get rid of him...I mean c'mon. I don’t want to be rash and let him go the 1st or 2nd time of logged complaints. But how bout when the complaints amount to the same thing logged by 5 or 6 diff subordinates?? How fair is it to your employees?? They are your employees aren’t they?? I keep hearing something about "Our people are our greatest asset!!" What’s the flip-side to that coin?? "Yes they are great but we will keep them in misery by providing SVPs that curse (that’s right - CURSE) at you on a daily basis?? (An example that ignites this behavior would be to forget a period at the end of a sentence in some inner-departmental estimate report. That's right - 1 period). Is this and Investment Banking House or an English grammar class

    Recommends
    Approves of CEO
  7.  

    Good place to gain experience but lacks innovation in IT

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

    I have been working at Lehman Brothers

    Pros

    Lehman generally hires well-meaning intelligent people. It has a stable work environment. (At the moment) It is high pressured but not overly so. It offers great benefits and an understanding of personal life. They match 401K. People are firm oriented and work well together.

    Cons

    There is lack of innovation in the IT field. It's very beurocratic and systematized. There is a robotic corporate culture. Innovators and star performers can find better places. They are behind the times and move at the pace of a large corporation. There is not good communication between departments. Salaries are low for the field. Bonuses vary with market conditions.

    Advice to ManagementAdvice

    Stop adding "systems" to monitor your employees and get in the trenches with them! You will know your own company much better.

    Approves of CEO
  8.  

    Good place to start career in finance; difficult place to work long-term

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Investment Banking Analyst in Menlo Park, CA
    Former Employee - Investment Banking Analyst in Menlo Park, CA

    I worked at Lehman Brothers

    Pros

    Good opportunity to develop a base of experience/knowledge in finance/capital markets quickly. Surrounded by smart, motivated people. Pay is quite good for someone right out of undergraduate, and pay can rise very quickly for those who are willing to commit themselves to the job.

    Cons

    Long hours, some difficult personalities, usually intense time pressures that can create stress. As with all investment banking programs, there are the typical irritations including obsessive focus on editing and re-editing powerpoint presentations. Another downside is that Lehman Brothers is not one of the leading banks on the corporate finance side, so they do not always get the best deals to work on.

    Advice to ManagementAdvice

    Better communication with all employees would be helpful

    No opinion of CEO
  9.  

    Good culture, good people

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

    I have been working at Lehman Brothers

    Pros

    The summer analyst program offers college juniors a ten-week internship position. During the internship, you are placed in either one of the fixed income sales, trading, origination or research areas or in one of the equity sales, trading or research areas. In addition to the exposure you will receive from the day-to-day flow of business, you will often be asked to assist in a variety of special projects for a particular business group. As an analyst, you will benefit from having both a junior mentor and a senior mentor to provide guidance throughout the summer. You also participate in weekly workshops and business seminars to quickly bring you up to speed with all areas of our Firm.

    Cons

    Recent troubles cast doubts on abilities of management.

    Advice to ManagementAdvice

    No comment.

    Disapproves of CEO
  10.  

    Gone soon after I joined!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Associate in London, England (UK)
    Former Employee - Associate in London, England (UK)

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

    Pros

    - surrounded by high achievers and top quality professionals
    - Great experience for someone starting career in finance

    Cons

    - Aggressive environment
    - Firm could not last long enough for me to spend more time!

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11.  

    Excellent working for LB, equal employer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Project Manager in Mumbai (India)
    Former Employee - Project Manager in Mumbai (India)

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

    Pros

    Excellent culture
    Work Life balance
    Open door policy
    Bonuses
    Benefits

    Cons

    No Cons it was a great company to work and helps in career development

    Advice to ManagementAdvice

    Emphasize on increasing productivity and efficiency by applying industry cost cutting measures

    Recommends
    Neutral Outlook
    Approves of CEO

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