Pros

For the operations class you get overtime which is wonderful. In addition, a work life balance is encouraged. The second most important thing is to network. If you do not do this then you will be stuck an analyst forever. Therefore you must attend events with WILL and various volunteer gigs. If you get sick then there is always a nurse and rest rooms. If they think that you need to go home, they send you off in a town car. Typically your managers are great and there is no closed door. People are really nice and laid back.

Cons

Your expierance all depends on your manager. If you work in the New Jersey office and plan on moving to front office BEWARE. You much absolutely network your butt off to get ahead. Try to meet MD's or VP's from other groups, it would typically be middle office. From there you would network with the sales traders. Visit the trading floor as much as possible and try to attend as many happy hours as you can. These are the keys to success as lehman. It is not who you know, rather it is who knows you. Oh and be friendly and laid back and you will fit in.

Advice to Senior Management

Encourage mobility and increase bonuses for the support function. They are very very small compared to the other banks.