Lehman Brothers

  www.lehman.com
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Lehman Brothers Reviews

Updated May 2, 2014
All Employees Current Employees Only

3.5 183 reviews

40% Approve of the CEO

Lehman Brothers CEO Richard Fuld Jr.

Richard Fuld Jr.

(20 ratings)

64% of employees recommend this company to a friend

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
50 Employee Reviews Back to all reviews
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in
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    challenging yet rewarding

    Analyst (Former Employee)

    Prosenvironment of hardworking people who foster an arena of learning

    Consstrong culture that could be a bit overbearing at times

    Advice to Senior Managementlisten to employee feedback

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    • No Opinion of CEO

     

    Good Place To Work

    Analyst (Former Employee)

    ProsGood compensation, work culture,friendly ,tech savy

    Conslong work hours not much transparent

    Advice to Senior Managementok

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    • No Opinion of CEO

     

    difficult

    Anonymous Employee (Former Employee) London, England (UK)

    ProsLehman Brothers was a proud organisation, proactive, with a can do attitude to risk taking and client service. However risk management was not good.

    ConsMy experience is tainted somewhat, as I was there during the default phase, which meant that focus was all regulatory focussed not client.

    Advice to Senior ManagementNothing more to say really given the company h a s now closed. RIP to the Lehmann Bros....good luck to my former colleagues.

    No, I would not recommend this company to a friend

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    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Old School

    Anonymous Employee (Former Employee)

    ProsPay comparable to street, well reputed similar to any other bulge bracket, good name to have on resume, good initial training programs.

    ConsPolitical, difficult career path, old school investment bank, lack of direction from senior management, not a lot of senior people who are good managers or have people skills.

    Advice to Senior ManagementNeed to provide more visibility on direction of company and issues, don't coat how good things really are if they are not.

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    • No Opinion of CEO

     

    Time to move on...

    Business Analyst (Former Employee) Tokyo (Japan)

    ProsGood pay
    Good bonuses
    Good benefits
    Good people in my group
    Challenging work
    Projects/work was fairly organized
    Good office location
    Good prestige at the time

    ConsCompany went bankrupt!
    Long, long, long, long, long hours!
    No dinner with family pretty much ever
    Weekend work at times
    Nomura transition pretty tough

    Advice to Senior ManagementUh, what to say?
    High risk, high reward... Higher risk, no job
    Did management have the shareholders and employees best interest in mind?

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    • No Opinion of CEO

     

    Lehman Brothers not so good for operations staff

    Operations Technician (Former Employee)

    ProsIt was a good place to work if you were a money maker like a trader or investment banker

    ConsOperations staff in some departments underpaid. Had to rely on overtime to make a livable wage

    Advice to Senior ManagementManagement always talked a good game about advancement and support. But the reality was far from the corporate pep talk.

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    • No Opinion of CEO

     

    Lehman is a good place to have worked at, but not so great to be at.

    Anonymous Employee (Former Employee) London Colney, England (UK)

    ProsWell paid, good benefits. Convenient and pleasant work location at one of the world's premier investment banks. Good place to have come from and nice to have on your CV.

    ConsVery political, quite disorganised. Several groups working on similar projects. Unpleasant rivalries. It turns out that the risk management platitudes uttered by senior management were quite easily sen through by other market participants.

    Advice to Senior ManagementI have no advice to give.

    No, I would not recommend this company to a friend

    • Work/Life Balance
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    • No Opinion of CEO

     

    Great people and place, poor management

    Anonymous Employee (Former Employee) London, England (UK)

    ProsGreat facilities and amenities made it an enjoyable place to work. Good platform for communication among employees and full of hardworking people with diverse backgrounds.

    ConsLack of enforcement of responsibilities for senior management. Inefficient organizational structure that lacks accountability. Lack of face to face interactions.

    Advice to Senior ManagementNeeded to reorganize organizational structure to ensure efficiency and transparency between divisions. More cooperation between senior management, traders, middle and back offices in person would have been helpful

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    • No Opinion of CEO

     

    Lehman Operations Analyst in Graduate Program (only lasted 1 week)

    Operations Analyst (Former Employee) London, England (UK)

    ProsI only worked there for 1 week before the company went bankrupt, but most of the senior managemnet was really impressive. the job paid well and the recent grads in my program were nice, smart, and for the most part humble

    ConsI worked there for only 1 week is the obvious one. Second would be that the company obviously had some serious issues

    Advice to Senior ManagementI don't really have a great perspective on this; again I was there for only 5 days. On the whole, management was impressive and the training program was thorough

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    2 people found this helpful  

    A good place to start out.

    Senior Software Developer (Former Employee) London, England (UK)

    Pros- An entrepreneurial atmosphere in most of the firm. Good ideas do get acted on.
     - A very good place to start out in the institutional banking industry - training is good and new employees (including graduates and interns) get thrown right into the mix from day 1.
     - Above average compensation in most roles.
     - You will work with talented and interesting people.
     - People are treated fairly (although not always transparently).

    Cons- The company is very fragmented - and the opportunities and "vibe" varies greatly between different areas. The internal management and budgeting processes tend to play middle-management against each other leading to much politicking. Employee-requested internal moves almost unheard of.
     - Very tight whenever spending cash is concerned (and not just in these tough economic times).
     - Company-wide communication is appalling. Corporate announcements are only made on positive news. There have been days in the last few months while I was there where the press was speculating that the company won't last till the end of the week and nothing is said of it. Across the company the communication is poor - I often would have someone new starting in my team sitting next to me and had no idea who they were until they arrived. Speaking to other technologists in the firm was was almost frowned upon.
     - On the IT side, career progression just stops unless you want to go into people management. I have worked with a number of very talented people who leave due to this. They don't seem to have a problem paying twice the rate for contractors though.

    Advice to Senior Management- Sort out the communication. Structure the budget and sales commission processes so that it encourages managers to work with the rest of the firm rather against it.
     - Move out of the proprietory investments (if it is not too late already) and focus on clients.
     - In IT, get far nimbler in delivering for the business. There are procedures that need to be followed, but often real innovation gets stiffled through beaurocracy aimed at the big systems but which make small projects and enhancements uneconomic. Future business lines start out small.

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