Lazard Reviews | Glassdoor

Lazard Reviews

Updated March 8, 2017
30 reviews

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3.0
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Lazard Chairman and CEO Kenneth M. Jacobs
Kenneth M. Jacobs
6 Ratings

30 Employee Reviews

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Pros
  • The deal flow is very good and provides good exposure (in 11 reviews)

  • Strong brand name and good deal flow across many industry groups (in 9 reviews)

Cons
  • Horrible work-life balance - worst than most IB (in 13 reviews)

  • Long hours so your social/personal life suffers somewhat (in 24 reviews)

More Pros and Cons

  1. Helpful (2)

    "Risk Adversity Will be the Death of You"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    Pros

    The tangibles: competitive pay in the industry, good health benefits, 401(k) match, physically nice office space since the renovations, generous tuition reimbursement, PTO allocations have improved, but are still under market.

    The intangibles: Having the opportunity to work with a lot of smart, motivated, people who were consumate professionals. Opportunities to take on more work and gain visibility to senior management. Expanded my knowledge base in the field 100-fold in the time I worked there.

    Cons

    Work-life balance is non-existent. It took me a while after I left to realize this was not normal: I worked nights, weekends, on vacations... It is a work-horse culture. I often found my directors/MDs would make it very difficult to take time off. I felt guilty about asking for time off! I think this is an industry-wide problem, even if it is particularly pronounced at Lazard.

    What really drove me crazy is a refusal to try to stand out - the position they took on everything was very firmly middle-of-the-pack. Lazard was/is/will likely be for a long time a solid enough brand and business where they can afford to take risks and do something different from what Evercore and Oppenheimer and Rothschild.

    Advice to Management

    You have the opportunity to be great, truly. You choose to be just okay. Take more risks, and maybe you'll stop losing your people to PE and Tech.


  2. Helpful (3)

    "Trade-offs..."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Banking Associate in New York, NY
    Current Employee - Investment Banking Associate in New York, NY
    Recommends
    Neutral Outlook

    I have been working at Lazard full-time

    Pros

    - Extremely high quality work and learning opportunities (if you want to take advantage of them)
    - Good exit options due to brand name
    - Strong senior bankers and good deal flow (depends on sector team though; some are weak - do your research!)

    Cons

    - Still has the oppressive culture of a 1980s/1990s investment bank, but in a world that has since moved on - no one is getting rich in banking anymore...
    - Work/life balance is unnecessarily poor; false deadlines are a constant feature, and fear of senior bankers drives a lot of 'panicked' over-work at the VP/Director level
    - Very very hierarchical; even VPs are lucky to go to client meetings most of the time. Associates and analysts can forget about it

    Advice to Management

    I don't even know. The trade-off still makes sense at the analyst and associate level, but only as an apprenticeship for max 2 years. The IB world has moved on in terms of culture, lifestyle, personal development opportunities; I think Lazard in the next 5 years is going to see a really, really serious decline in ability to generate management organically (i.e. Associates staying on to VP). But the path to a better culture is truly unclear in a organization that is so rigidly siloed between sector groups. Good luck!


  3. "Executive Assistant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend

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

    Pros

    It's in a good location. The bonus structure- while lower than most IB's, is consistent.

    Cons

    You won't be treated like a person. The HR department doesn't care about anyone except the high level executives- don't even bother trying to voice your concerns with them- they will fall on deaf ears.

    Advice to Management

    treat all employees with respect. even the "lowly" assistants.


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  5. Helpful (1)

    "ALTERNATIVE INVESTMENTS OPERATIONS"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - ALTERNATIVE INVESTMENTS OPERATIONS in New York, NY
    Current Employee - ALTERNATIVE INVESTMENTS OPERATIONS in New York, NY

    Pros

    good environment, good benefit, kitchen has sparkling water

    Cons

    Operation works are boring and managers are crazy about details such as not being late or don't use cellphones and don't browse the websites.
    It's hiring freeze for full time employees right now.


  6. Helpful (1)

    "Junior Employee"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Lazard full-time

    Pros

    A work environment filled with very intelligent and ambitious people. Everyone is held at the highest standard and rewarded for performance. A great place to start your career

    Cons

    Very little communication between the top level of departments and the bottom level of departments. Creates unnecessary work and wasted efficiency

    Advice to Management

    Consider adding in a program which adds touch points between all members of group to foster a more collaborative environment


  7. Helpful (1)

    "Review"

    Star Star Star Star Star
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Brand name for PE recruiting

    Cons

    Near zero work life balance


  8. Helpful (1)

    "Old school banking"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    Pros

    Great name, smart senior leadership, good market positioning. Some groups have great deal flow.

    Cons

    "pay your dues" mentality prevalent in banking, view of analysts as "bodies" rather than humans, cost-cutting and ancient tech systems inhibit productivity (borrowing CapIQ from a friend is just sad)

    Advice to Management

    Grinding through analysts is standard practice but you have to at least match your more prestigious competition in comp and lifestyle.


  9. Helpful (1)

    "Investment banking"

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

    Pros

    good people good working enviroment

    Cons

    long hrs, feel really stressed

    Advice to Management

    good


  10. Helpful (1)

    "Analys"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook

    I have been working at Lazard full-time

    Pros

    The pay is pretty good

    Cons

    I never get to leave my desk


  11. Helpful (1)

    "Analyst"

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

    Pros

    Compensation package is above the street.

    Cons

    Terrible management, long hours, no upward mobility.

    Advice to Management

    "Good job" goes a long way in motivating young hard workers.



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