Lehman Brothers

  www.lehman.com
  www.lehman.com

Lehman Brothers Reviews

Updated November 25, 2014
Updated November 25, 2014
190 Reviews
4.2
190 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

78 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    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

    I worked at Lehman Brothers

    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
  2.  

    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

    I have been working at Lehman Brothers

    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
  3.  

    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

    I have been working at Lehman Brothers

    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
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  5.  

    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

    I worked at Lehman Brothers

    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
  6.  

    Lost my shirt at Lehman

    • 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 has a very fair worklife balance and good base salary. The bonus compensation was a bit on the cheap to lower side. Generally, Lehman is great as a family oriented firm if you have other obligations outside of work that you can work out to be at home and work remotely. The base salary is competitive but they try to sell you on the bonus structure being mostly stock heavy.

    Cons

    Very conservative attitude of all employees and uptight feeling in the air. Everyone just needs to loosen their collars and breath a little bit more.

    They don't mention this that the promotion committee is so strict on who gets promoted and very cheap on the incremental pay.

    Advice to ManagementAdvice

    Sell when you had the chance. Now we're all screwed out of jobs.

    Recommends
    Disapproves of CEO
  7.  

    Reflecting Lehman

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

    I have been working at Lehman Brothers

    Pros

    Culture, Business Strategy, Global Presence, Well-Connected, Competitive

    Cons

    Too late to diversify exposure to real estate business and now the company may be in a risk to go the same path as Bear.

    Advice to ManagementAdvice

    Communicate more to people in times of trouble

    Recommends
    Approves of CEO
  8.  

    Was a great place to work, but having trouble focusing because of the current situation

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

    I have been working at Lehman Brothers

    Pros

    Quick recognition if you do a good job- if you do a good job, you will move up quickly.

    Good pay vs other banks and the benefits are now similar to our peers.

    Cons

    Hard to focus with the current situation and senior management does not do a good job communicating.

    Advice to ManagementAdvice

    Communicate Communicate Communicate- feels like we have been learning of current situations through the media.

    Recommends
    Disapproves of CEO
  9.  

    Great place to work, if you can keep operating given all the market speculation right now.

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

    I worked at Lehman Brothers

    Pros

    Bright, supportive people who definitely will help ensure your professional growth.

    Cons

    Long hours and current market environment.

    Advice to ManagementAdvice

    At times, try to be more forthright with information that might affect the careers of your employees.

    Recommends
    Disapproves of CEO
  10.  

    The people and culture differentiate Lehman Brothers.

    • 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

    The best part about Lehman Brothers is the culture, hands down. All Wall Street firms have investment banking, capital markets, investment management, etc., but what differentiates Lehman is the team-based work environment and people. When you're working 10 - 16 hours a day (depending on the department in which you work), you want to be around people who can, for example, not only answer your questions about interest rate derivatives but also carry on a conversation about their favorite YouTube videos. Lehman Brothers' employees are genuinely kind people who look out for the best interests of the team and the Firm, making it truly "One Firm."

    Cons

    The downside of working at Lehman Brothers is the constant fear that the Firm might become the next Bear Stearns. It's not necessarily something inherently wrong with the Firm itself, but the overwhelming media attention from the financial press definitely puts a damper on morale.

    Advice to ManagementAdvice

    It would be beneficial to receive more open communication from Senior Management .

    Recommends
    Approves of CEO
  11.  

    Review on Lehman Brothers

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

    I have been working at Lehman Brothers

    Pros

    Its culture, and the firm really invests in its people by offering a lot of networking events and classes.

    Cons

    Senior management doesn't communicate much with its employees.

    Advice to ManagementAdvice

    They should proactively communicate more with its employees on both professional and personal levels.

    Recommends
    Approves of CEO

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