Lehman Brothers Reviews | Glassdoor

Lehman Brothers Reviews

20 reviews

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

20 Employee Reviews

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Pros
Cons
  • long hours, high-stress work environment (in 25 reviews)

  • too big that you are not noticable to senior management (in 16 reviews)

More Pros and Cons

  1. "Admin"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Administrative Assistant in Irvine, CA
    Former Employee - Administrative Assistant in Irvine, CA

    Pros

    Great benefits. Unlimited sick time. Three weeks vacation. Nice Office.

    Cons

    Unstable, favoritism, backstabbing, negative employees.

    Advice to Management

    Communication was missing.


  2. "Executive Assistant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Lehman Brothers full-time

    Pros

    Great company with a great name. Amazing opportunities for employees looking to advance in the Financial Services sector. If management likes you, there are plenty of advancement opportunities.

    Cons

    The management team was one of the biggest problems with Lehman Brothers. They were condescending and played favoritism, they had unfair practices. And don''t ever complain to HR about it they will side with management who will do any and everything to make sure your fired.

    Advice to Management

    Redo your top management, they are unfair with their business practices and clearly have made so huge mistakes in the past.

  3. "Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Analyst in New York, NY
    Former Employee - Analyst in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Good Compensation
    Worked with many smart people
    Ability to grow within the firm
    Ability to be promoted
    Great training program

    Cons

    extremely long hours
    often felt like a cog within a wheel
    lots of travel
    often senior employees were to busy to provide advice


  4. Helpful (1)

    "Horrible management."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Servicing in Lake Forest, CA
    Former Employee - Loan Servicing in Lake Forest, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    The pay was decent for the position.

    Cons

    Incompetent managers, some of which were dishonest and downright shady.

    Advice to Management

    It's too late to give advice to management. They will go out in a matter of a few years.


  5. "Unchallenging and mildly pleasant place to work."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Technology in New York, NY
    Former Employee - Technology in New York, NY
    Doesn't Recommend
    No opinion of CEO

    Pros

    Lots of food around the office. Fast elevators to whisk you in and out. Some great people around to work with.

    Cons

    Aside from working at the flashpoint of the subprime financial meltdown, it's the incredibly political, aggressive environment. It's the kind of job you don't really need to think about.

    Advice to Management

    Give something back.


  6. Helpful (1)

    "glad i got of there"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Summer in New York, NY
    Former Employee - Summer in New York, NY
    Doesn't Recommend
    No opinion of CEO

    Pros

    looked great on resume. i learned a lot about financial marketing, industry players, and key executive people. nice location to work, and the mentorship programs was nice too.

    Cons

    well, it tanked. it could not be that great of a company if it had to close. some upper management were cocky. other times, it felt like the old boy network. if you are a woman, you have to work extra hard to prove your worth

    Advice to Management

    well, you guys dont exist any more. so my advice is to find another job and dont mess up the next organization.


  7. "Lehman Brothers, Bankruptcy and one summer."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Summer Intern in Littleton, CO
    Former Employee - Summer Intern in Littleton, CO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Lehman pays well and has excellent benefits. They also provide all employees with investment research for free. The firm had a history and track record of doing the right things. Lehman did provide training for the job. Upper level managers are generally well trained.

    Cons

    They are bankrupt and my paycheck was late and effected by the bankruptcy. My direct supervisor was a pretty poor. His boss was great. I do think my internship coincided with a bad time for the company and a bad time personally for my direct supervisor. Unfortunately in the summer of 2008 management had bigger fish to fry than a poor line supervisor at ALS.

    Advice to Management

    Senior management needs to be more candid and straightforward with employees.

  8. Helpful (2)

    "Greedy Top Executives Wildly Overpaid, Everyone Else Gets Screwed"

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

    Pros

    Flexible work schedules.
    Met some really great people.

    Cons

    Cheap in paying people. We would get e-mails and see postings around the firm every day saying how great we were and that we're #1 in all types of rankings, but it never translated into pay for the average worker. And now in hindsight, upper management was completely incompetent and way overpaid. Greed won out over prudent risk management, but it's the average worker that got hurt the most. Upper management misrepresented the firm and lied to us as they paid themselves first. Then the Bankruptcy - it was bad enough getting laid off, but now they aren't honoring the severance packages.

    Advice to Management

    Take a huge salary cut - you don't deserve it for what you did to an otherwise good firm and how you ruined so many lives with the bankruptcy, loss of severance, loss of stocks, loss of 401k. There's no way for you to justify your compensation. Especially Dick Fuld - $71.9 million total comp in 07? How does he sleep at night?


  9. "Join LEH if you are a workaholic"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in New York, NY
    Current Employee - Assistant Vice President in New York, NY
    Doesn't Recommend
    No opinion of CEO

    Pros

    Competitive Salary - Free Coffee and Tea

    Cons

    Dealing with manual process which is totally not value-added to your career in the street.
    Long hours - can get calls or ask to work during weekends.
    Senior managers have scope but middle managers have no clue how to excecute.

    Advice to Management

    Need to bring Lehman internal control to be more in line with the other firms in the street. Should adopt more new blood from the outside world in order to bring in more colors and ideas to the firm.


  10. "Ugh"

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

    Pros

    It was a prestigious place to work

    Cons

    It's a very mercenary environment filled with political intrigue. Everything was always very resourced constrained to the point of being idiotic. Getting small expenses approved likely required more overhead than the actual expense involved (e.g. It would takes months to get an $100 expense approved)

    Advice to Management

    You reap what you sow, in the sense that a mercenary culture inevitably leads to short-termism. My department was rather directionless and I think this reflects the uncertainty in the minds of management


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