Lehman Brothers

  www.lehman.com
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Lehman Brothers Reviews

Updated May 29, 2014
Updated May 29, 2014
184 Reviews

4.1
184 Reviews
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Lehman Brothers CEO Richard Fuld Jr.
Richard Fuld Jr.
20 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
  • Managers show no sympathy for junior people for working ultra long hours (in 18 reviews)

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

More Highlights

74 Employee Reviews Back to all reviews

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  1.  

    Satisfied working for Lehman Brothers

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Assistant Vice President Operations  in  Jersey City, NJ
    Current Employee - Assistant Vice President Operations in Jersey City, NJ

    Pros

    Co-operation between group and information sharing was excellent. Also the technology utilization in entire firm was truemendous.

    Cons

    The downside is lower base salary and not good bonus.

    Advice to ManagementAdvice

    Be careful on batting for subprime mortgages and take swift decisions.

    Recommends
    Disapproves of CEO
  2.  

    Life at Lehman

    • 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

    Pros

    There is excellent pay, great access to different types of people. I've learned quite a bit. You are exposed to different areas supporting sales and trading, and get to interface with various areas of the company. I've learned a bunch in terms of technology, the finance behind what im working on, and the math and economics that drives all of it. I would however like to learn more in more depth.

    However you know what happened, so its not like management is perfect and doesn't make mistakes. Down goes my stock, savings, etc. What were they thinking? didn't they see it coming?

    Cons

    There is excellent pay, great access to different types of people. You are exposed to different areas supporting sales and trading, and get to interface with various areas of the company. I've learned a bunch in terms of technology, the finance behind what im working on, and the math and economics that drives all of it. I would however like to learn more in more depth. Also, its tough to move into the business side from IT, and for some reason they want some sort of degree for it.

    However you know what happened, so its not like management is perfect and doesn't make mistakes. Down goes my stock, savings, etc. What were they thinking? didn't they see it coming?

    Advice to ManagementAdvice

    There is excellent pay, great access to different types of people. You are exposed to different areas supporting sales and trading, and get to interface with various areas of the company. I've learned a bunch in terms of technology, the finance behind what im working on, and the math and economics that drives all of it. I would however like to learn more in more depth.

    However you know what happened, so its not like management is perfect and doesn't make mistakes. Down goes my stock, savings, etc. What were they thinking? didn't they see it coming?

    It would also be helpful if they made more opportunities for mobility within the company. Because if thats not possible, I have no choice but to look elsewhere.

    Recommends
    Disapproves of CEO
  3.  

    It was great while it lasted

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

    Pros

    Lehman Brothers has a great culture and you get to work with very smart people. If you mesh well with the collegial atmosphere, there are numerous opportunities to grow and succeed. Life certainly gets better as you move up the ranks and become more seasoned and well versed in your industry or product expertise.

    Cons

    It is very challenging to balance work with other demands of life. Client service is inherently time-intensive and you generally have to work on your clients' schedule. You typically work on multiple live deals at the same time, but still need to find time to develop ideas and materials to pitch new business.

    Advice to ManagementAdvice

    Be more proactive next time

    Recommends
    Disapproves of CEO
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  5.  

    Smarts, who went bancrupt

    • 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

    Pros

    Extremely intelligent people around you. Sense of job security. Fair compensation for people who were with the company more than 5 years. Senior management are easily approached. Good benefits, PPO medical insurance, 3 weeks vacation, 4 weeks for VPs or after 5 years with the company, sabbatical, flexible work schedule with ability to telecommute from home. Lots of perks as various discounts, tuition reimbursement.

    Cons

    Unmitigated greed of senior management when it comes to bonus pool distribution. Sometimes very long hours. Firm imposes a lot of controversial policies on its employees. These policies reffer to staff as colony of militarized ants.

    Advice to ManagementAdvice

    Improve existing and create new channels that senior management uses to sample employee's feedback.

    Recommends
    Approves of CEO
  6.  

    I loved every moment of work at Lehman Brothers and it's a shame that the company no longer exists.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Summer Technology Analyst  in  Jersey City, NJ
    Former Employee - Summer Technology Analyst in Jersey City, NJ

    Pros

    During my time at Lehman, I got to work with incredibly knowledgeable and talented professionals that were free from ego. I had the opportunity to work with cool web technologies to develop interesting and business critical web applications. The work was challenging and stimulating, and it is the primary reason why I want to continue working in software development.

    Cons

    The obvious downside is that the company no longer exists! During my time there, the downsides I could see are that as a large corporation, change can be lethargic and that IT job security is not great.

    Advice to ManagementAdvice

    IT senior management does an excellent job, in my view. The CIO is focused on running the firm as a technology company that happens to sell financial products. I think this is a good way to frame the perspective of IT employees in an investment bank. The projects I worked on were adding significant business value, so again, I think that IT senior management was doing an excellent job.

    Recommends
    Disapproves of CEO
  7.  

    It's a shame that such a good organization had to fail

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

    Pros

    get to work with very smart people

    Cons

    greedy leadership -- bonus were heavily weighted to the top and not distributed through the ranks in a mindful manner

    Advice to ManagementAdvice

    Should have seen the credit crisis coming and put the organziation in a better position rather than having lead it down the path of chapter eleven. You all do this on a day to day basis and didnt see this coming??? if so, then you dont deserve to be leaders in this space going forward--this goes for all the business heads and senior leaders, not just the CEO.

    Recommends
    Disapproves of CEO
  8.  

    Was a great place to work - hard work, but lots of opportunities

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

    Pros

    Hard working people, meritocracy (for the most part), and great opportunities to advance.

    Cons

    Tough work-life balance, little executive management visibility

    Advice to ManagementAdvice

    The market can stay irrational longer than you can stay solvent

    Recommends
    Disapproves of CEO
  9.  

    great company, great benefits, excellent pay package, just long hours

    • 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

    Pros

    good growth, respectable firm, excellent pay

    Cons

    long hours, competitive environment, overnight support (for IT)

    Advice to ManagementAdvice

    good -- w/the company growing, too many middle managers, so need to ensure the flat structure stays in place

    Recommends
    Approves of CEO
  10.  

    End of an era.

    • 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

    Pros

    Recognized as one of the best investment banks. When you work at Lehman Brothers, you are proud of it.
    Very flat management. Anyone can propose new ideas and raise quickly. Some MDs are hardly 30 years old and manage billions. If you have the talent, you will get the rewards as long as you can showcase your value.

    Cons

    Lot of work. Management pays more attention to the work than actual people. Most managers in IT are very sharp at tech stuff, but unfortunately lack the people skills which are necessary for managers. As a result, we get poor management all over the place, even though execution is perfect.

    Advice to ManagementAdvice

    Try to grow your people. Find a good balance between your employees. Stop looking for the best and brightest if there is no room for advancement for those people. Each team must have its load of "average people".

    Recommends
    Disapproves of CEO
  11.  

    I guess a name says it all

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

    Pros

    Lehman, like other investment banks, works people pretty hard. Overall, though, the management wasn't bad. There are some stupid people who bought those mortgage back securities, like CEO Fuld, but besides that it was fine. It is now being taken over by Barclays, so it won't even be called lehman brothers any more. It's a good thing I got out when I did or I might have lost my job

    Cons

    Well, I guess you can say it sucks to work for a bankrupt company.

    Advice to ManagementAdvice

    You should not have bought those mortgage backed securities. if you hadn't, lehman would not have gone bankrupt. It also would have been wise to sell off some assets earlier.

    Recommends
    Disapproves of CEO

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