Lehman Brothers

  www.lehman.com
  www.lehman.com

Lehman Brothers Reviews

Updated December 14, 2014
Updated December 14, 2014
192 Reviews
4.2
192 Reviews
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Lehman Brothers CEO Richard Fuld Jr.
Richard Fuld Jr.
21 Ratings

Review Highlights

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

  • Ahead of other investment banks in promotion of women (in 15 reviews)


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

  • Towards the end there was morebegoninvolved by he senior management and that led to the rims downfall (in 15 reviews)

More Highlights

Employee Reviews

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  1.  

    May she rest in peace

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

    I worked at Lehman Brothers

    Pros

    -Extremely fast-track in terms of compensation growth
    -Strong encouragement to learn and gain certifications
    -People who work there were the best part of Lehman

    Cons

    -Work can become monotonous after the learning curve levels
    -Working with demanding clients can be challenging
    -Tough to move from mid/back-office to front-office roles

    Advice to ManagementAdvice

    Provide more open lines of communication from the trenches so that ideas flow more readily. This will facilitate process improvements, etc...

    Recommends
    No opinion of CEO
  2.  

    Great place to work, will be there forever

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Analyst
    Former Employee - Analyst

    I worked at Lehman Brothers

    Pros

    Very good management who dont like to take a lot of risk. Conservative and honest people who are always upfront with everyone.

    Cons

    Can't really think of any. They never chase Goldman or the other investment banks. They are just focused on being the best they can be while doing it with tons of integrity.

    Advice to ManagementAdvice

    bGreat jon

    Recommends
    Approves of CEO
  3.  

    Great firm; it's a damn shame...

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

    I worked at Lehman Brothers

    Pros

    Entrpreneurial spirit and team work were amazing. There was a real sense of ownership and can do spirit. People really worked for the good of the firm

    Cons

    It is a damn shame that senior management let the real estate group put so many bad assets on our balance sheet. I'm so proud to have worked there

    Advice to ManagementAdvice

    The president of the company should focus on the actual business and take feedback from the people in the trenches.

    Recommends
    No opinion of CEO
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  5. 1 person found this helpful  

    ONE FIRM - sad to see them go

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

    I worked at Lehman Brothers

    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 ManagementAdvice

    Maintain collaborative culture and openness

    Recommends
    No opinion of CEO
  6.  

    Best place I ever worked. I'm heartbroken that it's over.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Vice President Technology
    Former Employee - Vice President Technology

    I worked at Lehman Brothers

    Pros

    The culture was great. They hired the best and the brightest, and I worked with some of the most talented engineers and managers that I ever encountered. We were encouraged to take an entrepreneurial approach to our work in IT, and were rewarded for it when the system or app generated revenue or furthered the business' objectives.

    There was great opportunity to network thru several diversity groups. Training and education was encouraged and readily available. They fully supported work-life balance and work from home (job - permitting, of course).

    The work was hard, the hours were long, and the rewards were great. At the end of a day, I left the office exhausted and proud of what my team accomplished. It was the best 10 years of my working career. I met and worked with some remarkable individuals and established professional and personal friendships with people I will treasure, always.

    Cons

    Biggest downside: The bankruptcy. It is incredibly sad. Barclays should have been a silver lining, but sadly, the great things about Lehman and it's culture did not carry over after the acquisition.

    Advice to ManagementAdvice

    I'm with you in wishing the clock could be stopped or rolled back to before the collapse. I wish it could have gone on forever.

    Approves of CEO
  7.  

    A great place to work, period.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Customer Service
    Former Employee - Customer Service

    I worked at Lehman Brothers

    Pros

    They are no longer around but I am sure Barclays will be the same way. Great pay, communication and training programs. Tons of perks and a highly well run company, very professional. Everything had its own "Lehmanized" feeling to it. The background check was highly thorough and extensive. The training was highly helpful and learning the material was fairly easy thanks to great teachers. Overall, the company was willing to work with you over hours and other accommodations, but highly frowned upon bad decision making.

    Cons

    They closed, so no opportunity for growth. They also did not offer me any benefits, but I believe there benefit programs are usually top notch

    Advice to ManagementAdvice

    Keep up the good work but perhaps be a little better at communicating

    Recommends
    Disapproves of CEO
  8.  

    Great people and office, but tough hours

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Investment Banking Analyst in Menlo Park, CA
    Current Employee - Investment Banking Analyst in Menlo Park, CA

    I have been working at Lehman Brothers

    Pros

    The people in the office are great, although turnover is high given the nature of the industry. There is great deal flow and not so much face time as required by other firms, especially becuase it is in the west coast. Lots of industry coverage within the technology group, so you won't be confined just to semiconductors, or internet, for example. The office is pretty nice as well. There is also a good amount of diversity in terms of people's background. Work / life balance was okay as the staffer was pretty accomodating to personal vacation schedules, to a certain extent.

    Cons

    Obviously, banking hours are tough and unpredictable, and this is true at Lehman Brothers too. Also, there is lot of competition from Goldman, Morgan, etc., so you won't always see the office get hired for the biggest or most prestigious deals. Compensation at Lehman, overall, seemed to be lower than other firms, so hopefully it will be better now at Barclays. This is mainly as a firm overall, not the Menlo Park office. Finally, being in Menlo Park, you are more of a satellite office, with the other half of the tech group being baesd in New York City, NY.

    Advice to ManagementAdvice

    Better compensation

    Recommends
    No opinion of CEO
  9.  

    The sad tale for lehman

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

    I worked at Lehman Brothers

    Pros

    Great place to work. People are cordial, and welcoming. The culture is strong yet inclusive. Management is very approachable, and responsibilities are high. I would say like any BB, Lehman was a prestigious place to work. In IBD you need to work somewhere where you feel proud to be because the hours will wear on you after a while.

    Cons

    Job security, obviously, working there during the summer was less risky then a full time position, but you still had to question whether or not the company would make it through. Although Lehman went bankrupt, it should be interesting to see what happens with former Lehmanites going to Barcap. In that regard the new firm would be a melting pot for both entities especially in NA.

    Advice to ManagementAdvice

    none

    Recommends
    No opinion of CEO
  10.  

    quality work, quality people and quality reputation but wish it stood

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

    I have been working at Lehman Brothers

    Pros

    plenty of opportunity to grow
    firm has a great reputation
    good respect earner in the industry
    very flexible work atmosphere and culture
    people are great and tend to be appreciative of good work
    the firm gives employees a great deal of respect and accomodates their needs
    their investment banking unit is arguably the best on wall street and many bankers from other firms tend to want to come to lehman at a later stage of their career.
    quality work, quality people and quality reputation
    great work life balance, you don't end up like bankers in other firms
    people tend to be happy with what they are doing

    Cons

    can get bureaucratic at times

    Advice to ManagementAdvice

    better strategy implementation

    Recommends
    Approves of CEO
  11.  

    how it used to be

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

    I worked at Lehman Brothers

    Pros

    Smart people. Competitive. You learn a lot just from other people, but you also have access to a lot of research and training. On-going training in particular is highly encouraged and supported by managers. From my observations, people are quite empowered at most levels and departments within the firm, given a lot of responsibility, not what you might expect from a very large firm.

    Cons

    Technology in many departments is dated and inefficient. Management slow to implement changes and alter the status quo. You know you are at a large, bureaucratic firm and feel the frustrations associated with seeing things slow to change and seeing no action taken by management to fix known problems. But this is no more pronounced than with any other large firm in my experience.

    Advice to ManagementAdvice

    NA

    Recommends
    No opinion of CEO

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