Lazard

  www.lazard.com
  www.lazard.com
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3 people found this helpful  

Prestigious and rewarding place to work, though chose to leave for a variety of reasons

  • 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

I worked at Lazard

Pros

1. Fantastic place to gain experience and work with some of the best minds
2. Restructuring and FIG are probably the strongest groups

Cons

1. Resources and sharing can be very limited compared to other banks. They often "reinvent the wheel."
2. While certianly not limited to just Lazard, the work of a few groups or stars there really can support many of the pricey senior partners. Post-Wasserstein, the number of idle "FOBs" (Friends of Bruce) with big pay packages swelled, which seemed to be his form of return-of-favor from his past career.
3. Unfortuantely too many incompetent junior hires, often there from nepotism or favors (children of clients).

Advice to ManagementAdvice

The cash-out from the IPO lessened the urgency for continued hard work with many partners. Non-producing partners should go, or more should be converted to limited partners.

Recommends
Approves of CEO

43 Other Employee Reviews for Lazard (View Most Recent)

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  1. 2 people found this helpful  

    I left prior to 2006 but these comments are still relevant

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

    I worked at Lazard

    Pros

    The amount of responsibility that can be delegated to employees low down on the overall professional hierarchy is impressive and can be a tremendous learning environment for rapid maturity for these younger employees. As one of the few investment banking firms left, and with its tremendous history, you can get some very interesting assignments delegated to smart, but 'green' (new) employees. .

    Cons

    It's hard work if business is busy. Don't plan on seeing your significant others much if you are working late night after night and weekends. However, that runs with the cycles. I suspect that with the economic slowdown the quality of life is much better.

    Advice to ManagementAdvice

    Stay in touch with Felix. His name is not in the running for the Obama administration so perhaps he can come back to Lazard one more time?

    Recommends
    Approves of CEO
  2.  

    Good place to work at

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

    I have been working at Lazard

    Pros

    Lazard has a great reputation and is generally a good place to work. The place has some very talented and reputed senior level bankers. Deal quality and flow is generally good and since it is not a bulge-bracket, you avoid some of the non-sensical pitching you see at the larger banks.

    Cons

    The company is light on admin and you often have to get a whole lot of work admin done yourself. The offices are dated and in need of new furniture. Primary focus is US and UK, France in Europe. Insignificant in Asia.

    Advice to ManagementAdvice

    There needs to be more communication between regions and offices. I feel each office and country is run like a separate bank. There is less sharing of information or data or ideas than one sees in more global banks

    Recommends
    Approves of CEO
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