Lehman Brothers Reviews

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Lehman Brothers CEO Richard Fuld Jr.
Richard Fuld Jr.
5 Ratings

Pros
  • Great work life balance and financial packet (in 14 reviews)

  • great people, gave lots of responsibility early on (in 8 reviews)

Cons
  • Bankruptcy, Long hours, management too aggressive with risk, greed, and cut-throat policies (in 20 reviews)

  • too big that you are not noticable to senior management (in 15 reviews)

More Pros and Cons

54 Employee Reviews

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  1. Good culture, good people

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Summer Intern in New York, NY
    Current Employee - Summer Intern in New York, NY
    Disapproves of CEO

    Pros

    The summer analyst program offers college juniors a ten-week internship position. During the internship, you are placed in either one of the fixed income sales, trading, origination or research areas or in one of the equity sales, trading or research areas. In addition to the exposure you will receive from the day-to-day flow of business, you will often be asked to assist in a variety of special projects for a particular business group. As an analyst, you will benefit from having both a junior mentor and a senior mentor to provide guidance throughout the summer. You also participate in weekly workshops and business seminars to quickly bring you up to speed with all areas of our Firm.

    Cons

    Recent troubles cast doubts on abilities of management.

    Advice to Management

    No comment.


  2. Good place to start career in finance; difficult place to work long-term

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Banking Analyst in Menlo Park, CA
    Former Employee - Investment Banking Analyst in Menlo Park, CA
    No opinion of CEO

    Pros

    Good opportunity to develop a base of experience/knowledge in finance/capital markets quickly. Surrounded by smart, motivated people. Pay is quite good for someone right out of undergraduate, and pay can rise very quickly for those who are willing to commit themselves to the job.

    Cons

    Long hours, some difficult personalities, usually intense time pressures that can create stress. As with all investment banking programs, there are the typical irritations including obsessive focus on editing and re-editing powerpoint presentations. Another downside is that Lehman Brothers is not one of the leading banks on the corporate finance side, so they do not always get the best deals to work on.

    Advice to Management

    Better communication with all employees would be helpful


  3. Good place to gain experience but lacks innovation in IT

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Web Developer in New York, NY
    Current Employee - Senior Web Developer in New York, NY
    Approves of CEO

    Pros

    Lehman generally hires well-meaning intelligent people. It has a stable work environment. (At the moment) It is high pressured but not overly so. It offers great benefits and an understanding of personal life. They match 401K. People are firm oriented and work well together.

    Cons

    There is lack of innovation in the IT field. It's very beurocratic and systematized. There is a robotic corporate culture. Innovators and star performers can find better places. They are behind the times and move at the pace of a large corporation. There is not good communication between departments. Salaries are low for the field. Bonuses vary with market conditions.

    Advice to Management

    Stop adding "systems" to monitor your employees and get in the trenches with them! You will know your own company much better.


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  5. Helpful (1)

    Its cut and try business. Either you love it or you don't.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Portfolio Administrator in New York, NY
    Current Employee - Portfolio Administrator in New York, NY
    Recommends
    Approves of CEO

    Pros

    Greeat reputation and very competitive benefits. The salary range varies widely, but it is nevertheless competitive.

    Cons

    There are a lot of cliques and the environment can be like "adult high school" all over again. Are not genuine when welcoming outsiders. Very fake in many aspects. Because of this it might be difficult for some to advance. Seniority, not genuise, plays precedent at LEH, which isn't always healthy.

    Advice to Management

    Great ideas spurt from the root. Look to ALL people below you for great ideas for growth and company improvements.


  6. Helpful (1)

    Good place to work but management communicates little. Very little

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in New York, NY
    Current Employee - Associate in New York, NY
    Recommends
    Approves of CEO

    Pros

    Lehman is a great place to work because of its rep. It's a strong investment house with strong senior senior management. I will not speak to the everyday managers but senior (executives) mgmnt is very knowledgeable and have a good sense of direction of the markets. Some of their hedging policies might be too conservative and tight but still they are not known for being the out-of-control cowboys. This is good and bad. Can’t make much because you’re not risking enough. But then again one should not emulate Bear Stearns. Career Opportunities here are good. Management actually prefers when you move around. Learn as much as possible. Contribute as much as possible. This is a great tactic and its works on both sides of the street.

    Cons

    The culture. Even though it’s communicated strong and entact it seems that it’s anything but. I do love my colleagues; But its management. Management is key to success in any corp. When your management does not acknowledge you, does not say good morning, is not appreciative of the work you provide, will never say thank you, not even once - think about that for a moment - it gets under your skin. When you work for a "amazing" co such as lehman and then you have its rep tarnished because you’re constantly working with these type of people than you must think "is this the place for me?? Would Morgan or Goldman treat me - even a notch - better?"

    Advice to Management

    My advice to Senior Management is to review some of the complaints logged by HR. If you read that a person is constantly being questioned or complained about by his own subordinates please get rid of him...I mean c'mon. I don’t want to be rash and let him go the 1st or 2nd time of logged complaints. But how bout when the complaints amount to the same thing logged by 5 or 6 diff subordinates?? How fair is it to your employees?? They are your employees aren’t they?? I keep hearing something about "Our people are our greatest asset!!" What’s the flip-side to that coin?? "Yes they are great but we will keep them in misery by providing SVPs that curse (that’s right - CURSE) at you on a daily basis?? (An example that ignites this behavior would be to forget a period at the end of a sentence in some inner-departmental estimate report. That's right - 1 period). Is this and Investment Banking House or an English grammar class


  7. Great place to get your feet wet in finance.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - RMBS Financial Analyst in Denver, CO
    Current Employee - RMBS Financial Analyst in Denver, CO
    No opinion of CEO

    Pros

    Great benefits, work-life balance and place to get your feet wet. Discover your core competencies here and refine your technical skills. Lehman Brothers is a great brand to have on your resume and will definitetly help you out on your career path.

    Cons

    Bonuses are currently non-existing, yet used in the initial recruitment of employees and considered in "Total Compensation". Raises are also minimal and barely keeping up with inflation. CEO is rewarded with bonuses, even when Firm is struggling. Transportation Program needs to be fully subsidized by the Firm.

    Advice to Management

    Recognition needs to be given for all individuals on high visibility projects. Spotlight needs to be shared and the competitive environment needs to be more collaborative. This increases employee morale, motivation and engages the employee.


  8. culture of the team you work for is everything

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales Associate in New York, NY
    Current Employee - Sales Associate in New York, NY
    Approves of CEO

    Pros

    relatively laidback culture, good mobility options when times are good

    Cons

    lack of communication from managers

    Advice to Management

    provide more communication about future changes that might occur and what they are thinking in terms of leading the firm out of this crisis


  9. Helpful (1)

    Lehman lags other banks in compensation

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

    Pros

    Firm encourages educational growth - Human Resources does its best to get training for employees - Training on product and management is excellent -

    Cons

    Senior Management promotes based on friends and family program - compensation always lags the rest of wall street There is a disconnect between what people are taught in training and to what happens in the work place - In the Operations side upper management is known for promoting and giving the best opportunities to relatives and relatives of friends - Preach one thing to employees but do the opposite to their friends and family

    Advice to Management

    Should challenge the bank to be more of a meritocracy


  10. Good company for starters. Will enjoy the exposure and knowledge sharing culture.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President
    Current Employee - Assistant Vice President
    Doesn't Recommend
    Disapproves of CEO

    Pros

    It was a great place to start my career in Wall street. Lots of opportunities for self motivated people. The place gave good exposure and knowledge sharing opportunities for its employees. Being a smallish company in extra ordinarily tough times, it had its share of challenges..

    Cons

    IT dept is not sufficiently resources/funded.

    Advice to Management

    Improve communication.


  11. Fun while it lasted

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President in New York, NY
    Former Employee - Vice President in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    It was a top-tier investment bank that was a bit nicer than the others. People generally stuck around longer, and most of them had longer-term horizons, so even if not everyone was as good as at Goldman, the businesses could be more client focused and have more stability.

    Cons

    Deadwood stuck around way too long; bonuses were arbitrary and not very well designed, and the cult-like atmosphere killed off fresh ideas. There were too many independent silos, and no common risk-management framework open to everyone. The IT organization was very good at web-apps, but super-bureaucratic; very little actually got done. The I love me walls in the elevator were a bit over the top.

    Advice to Management

    Buy a chastity belt?



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