Lazard

  www.lazard.com
  www.lazard.com

Lazard Reviews

Updated November 14, 2014
Updated November 14, 2014
43 Reviews
3.1
43 Reviews
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Lazard Chairman and CEO Kenneth M. Jacobs
Kenneth M. Jacobs
13 Ratings

Employee Reviews

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  1. 1 person found this helpful  

    Strong culture, proud employees

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

    I have been working at Lazard

    Pros

    Great brand, good reputation.
    Competitive pay
    Decent benefits

    Cons

    Dreary offices
    Long hours
    Little job security

    Advice to ManagementAdvice

    More stock to employees

    Recommends
    No opinion of CEO
  2. 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
  3. 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
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  5.  

    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
  6.  

    A good company to learn M&A market but bad work-life balance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Off-Cycle in Beijing, Beijing (China)
    Current Employee - Off-Cycle in Beijing, Beijing (China)

    I have been working at Lazard as an intern (less than an year)

    Pros

    Good place to learn M&A market, get into live deals since my first day in Lazard. Junior bankers are all very friendly and willing to teach you.

    Cons

    Work-life balance is really bad. I don't have weekends and usually have to work until 300 am in the morning. There are too many senior bankers but not enough junior bankers.

    Recommends
    Positive Outlook
  7. 1 person found this helpful  

    ...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Lazard

    Pros

    Nothing is good, people are abnormal

    Cons

    Everything is so nasty, anti humanity

    Advice to ManagementAdvice

    Go to hell

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 3 people found this helpful  

    Tedious

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in London, England (UK)
    Former Employee - Anonymous Employee in London, England (UK)

    I worked at Lazard full-time (more than 5 years)

    Pros

    A good name to have on your cv!

    Cons

    No career progression, long hours. Work is repetitive.

    Advice to ManagementAdvice

    Get rid of the old wood and accept change to move with the times.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  9.  

    Cut your teeth and leave

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Analyst in Paris (France)
    Former Employee - Analyst in Paris (France)

    I worked at Lazard full-time (more than 3 years)

    Pros

    Lazard has a highly intellectual culture and a respected brand name. Junior employees get a lot of exposure and responsibility very quickly (even by investment banking standards). The culture is very formal and polite. There is a minimum of bureaucracy. Great exit opportunities.

    Cons

    Junior employees are treated as replaceable units of production and are forced to work extremely hard even by investment banking standards. All junior employees constantly complain about the workload and absence of any work-life balance and fantasize the about the day that they'll leave (when you announce your intention to leave Lazard, the standard response from your peers is "Congratulations!"). On-boarding and off-boarding procedures are non-existent. Compensation is relatively low (working for Lazard is meant to be its own reward...). The organization is very political, especially when it comes to promotions and compensation. Although externally the company postures as a great workplace for women, internally it is a very chauvinistic and a (white) male-dominated culture.

    Advice to ManagementAdvice

    Don't treat junior employees like livestock

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10. 2 people found this helpful  

    Waste of time

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Analyst in London, England (UK)
    Former Employee - Analyst in London, England (UK)

    I worked at Lazard full-time (more than 3 years)

    Pros

    Good learning experience (BUT you 90% of everything you need to learn in 6 months and then start repeating yourself)

    Some of the old bankers are incredible and the last remnants of when IBD attracted some of the most interesting (and dare I say cleverest) people in the world - very unlikely if you join now you'll have any interaction with them

    Cons

    Huge nepotism - "what school did you go to haw haw"

    Layers of mediocre senior and mid-management

    Huge amounts of unnecessary work

    London in perpetual decline - bailed out by NYC and Paris again and again - not good for morale

    The CEO / partner level employees in London generally have as much charisma as a damp rag.

    Super firings every few months - not good for morale

    Losing deals in the UK again and again

    Absolutely no respect for work life balance. Genuinely do not care about you or your life.

    Poor comp vs peers at BB

    Advice to ManagementAdvice

    If you really want to retain people stop killing them for no reason

    Bring leadership, backbone and charisma to the senior levels.

    Stop being so political

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    Good franchise

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Associate in Hong Kong (Hong Kong)
    Former Employee - Senior Associate in Hong Kong (Hong Kong)

    I worked at Lazard full-time (more than an year)

    Pros

    Professional colleagues, global network reach and cooperation between global offices. Good support for industry expertise and local knowledge from local teams.

    Cons

    Not as well-recognized in Asia as in Europe and US. Terrible hours. Lower pay than bulge brackets. Not top deal flow. In Asia limited quality senior guidance for junior staff.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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