Lehman Brothers Reviews

Pros

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

Cons

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

Advice to Senior Management

Management always talked a good game about advancement and support. But the reality was far from the corporate pep talk.

Pros

When it was in business, the corporate culture encouraged innovation and moving fast, usually to the detriment of documentation and organization. International opportunities were also largely encouraged: transferring internally to international locations was quite common

Cons

To the detriment of its fast paced culture, the company was very political in its inner dealings. Employee communication was mostly cheerleading, with very little important information. Though it ran like a well-oiled machine, roles were quite set in stone, and advancement was gauged more on perception rather than results.

Advice to Senior Management

Strike a better balance between work and life, and change the culture towards progression rather than stress out the staff to keep catching up. Try to get back the talent that left after the insolvency.

Pros

Diverse, smart people, great networking opportunities, wonderful businesses across the board.

Cons

It's too bad the company went bankrupt.

Advice to Senior Management

The mgmt should have communicated better with the employees and the public.

Pros

Lehman was a good place to work. Salary and benefits were good. Fellow employees were smart and good to work with.

Cons

Total comp included restricted stock units that could not be acted upon for five years after receiving them. Large company made upward mobility difficult.

Advice to Senior Management

Lehman as it was ceases to exist. Middle management did a good job and treated employees well. I am satisfied with how I was treated.

Pros

Well 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.

Cons

Very 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 Management

I have no advice to give.

Pros

Small group in California
Really cooperative between different groups (research, investment banking, venture capital)
Great access to research resources
Great medical / dental / vision benefits
AmEx dinner expenses for late work nights

Cons

Very long hours (fortunately with very smart, talented people)
Lots of bureaucracy and red tape for many simple work processes
Went bankrupt

Advice to Senior Management

Maintain collaborative culture and openness

Pros

Lehman Brothers had a lot of very talented, smart people who were proud of the firm and committed to working hard to make the firm a success. Lehman was still working hard to compete with GS and MS in particular. The pressure and commitment to excellence was a great driver to excel at Lehman.

Cons

Often a very political environment, intense, sustained work pressure, excessive utilization of employees, especially at the junior level, complete opacity of senior management decisions, feeling that you were on call 24/7/365. Willingness to pay people a large portion of their compensation in restricted stock, and to encourange people to invest their 401K savings in company stock.. all of which ultimately became worthless.

Advice to Senior Management

Probably a bit late to provide advice to Lehman Brothers' leadership team, but maybe focus a bit more on risk management in the future... ?

Pros

- aside from intelligent and quick people, they were also fun and supportive, not the typical banking stereotype (but depends on who you get on projects, I was lucky)

Cons

- hours that are typical, facetime exists

Advice to Senior Management

- now transitioned to Barclays, who has been doing a great job with N.America

Pros

At one point an AMAZING brand...now just a memory of what could/should have been. Such a shame that so many are out of work

Cons

We went bankrupt....is there any more to say??? Leaders lead us to a hole in the ground and made the Firm a disgrace

Advice to Senior Management

Managers need to have open eyes at all times and be aware of what people are trying to tell them...

Pros

The company was very helpful in allowing me to work from home when I moved. Lehman also did a good job of making training available to both consultants and employees

Cons

There was very little training for consultants. Senior Management drove company into ground and the months following the bankruptcy were chaotic

Advice to Senior Management

I wish they didn't destroy the company with their short-sighted plan for growth. I've heard that former Lehman employees are not given the same respect as old and new Barclays hires