Lehman Brothers Reviews | Glassdoor

Lehman Brothers Reviews

Updated July 13, 2017
243 reviews

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

243 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. "Lehman Brothers - A Truly Great Place to Work"

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

    Pros

    Tremendous opportunity to develop yourself. You don't realize until you work at an investment bank, how many opportunities there are for work, aside from number crunching and research. You can do practically anything at an investment bank - IT, Marketing, Leadership Development, Diversity, etc. There really is tremendous opportunity to immerse yourself when you come to a place like Lehman Brothers. Lehman Brothers is a very inclusive place to work - they do not discriminate and the Firm has a very unique culture that sets its apart from other places on the "street". The attitude is that everybody is a stakeholder in the company and that it really is our responsibility, each and every employee, to take ownership and want to see the company succeed.

    Cons

    The one downside would definitely be the hours. New York is known as a city that never sleeps and although this reputation may be a little exaggerated, I think that people who work in Financial Services in general, are all pretty hard working folks, who tend to put in the long hours. Hardly any weekends as you start to move up the "food chain", however when something is expected of you, you take however much time you need to do your best work possible and if that means that you need to stay in the office till 9 or 10 a few nights, you do it. Lehman overall though really forces its employees to strike as much of a work/life balance as possible.

    Advice to Management

    That compensation, although in line with other "shops" - needs to be bumped up. Especially at the very junior level. Living in NYC is very expensive and with the compensation that 1st and 2nd year analysts (excluding Investment Banking - who make a tremendous bonus), make, it is nearly impossible to live in NYC without going into more debt after college. I think a raise by $10-$15K would make all the difference in the world. . .Kind of funny how that number is so nominal, when you compare it to the compensation of senior folks who earn anywhere from $10MM upwards to $25MM & beyond.


  2. "A great place to work"

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

    Pros

    Its a fantastic place to start your career. Managment is strong and supportive, the work is always dynamic and different. The one thing that was fantastic about Lehman was the culture. The culture difference there is something that makes Lehman a truely wonderful place to work. The people you work with on a day to day basis are some of the brightest and nicest people on the street. There is a real team mentality there. Everyone wants everyone else to succeed. If you do good work, you will be rewarded. Lehman Brothers fosters development and allows for career growth.

    Cons

    Some long hours, but they did compensate me handsomly for staying late to work on different projects.

    Advice to Management

    Keep the culture alive.

  3. "Outstanding people and talent, it's a shame what happened"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Finance Analyst in New York, NY
    Former Employee - Finance Analyst in New York, NY
    Recommends
    No opinion of CEO

    Pros

    The people who work(ed) at Lehman are truly the best and brightest in the industry. Despite being incredibly talented across the board, pretentious attitudes were few and far between. The work culture was supportive and encouraging, with teamwork and a common pride in the business being prevalent at all levels. This makes what happened even more of a tragedy, particularly given that this firm was at the top of the industry in almost all disciplines.

    It is important to remember that Lehman was driven under by heightened, albeit not abnormal, leverage and abject fear and rumor mongering that pervaded every corner of the capital markets. The competency of its employees and the capabilities of its businesses were not determining factors, and the avalanche of compounding negative events could have taken any similar firm down. The same exact thing happened to Bear, and may very well have happened to Merrill, Morgan, or Goldman, which was evidenced by their actions to swiftly take themselves out of the game altogether.

    All said, if the people and culture have remained largely intact, the operations purchased by Barclays may present a similarly attractive workplace.

    Cons

    The hours can naturally be a drag at times, but it is nothing out of the ordinary. If one wishes to participate in this industry, there is a certain level of sacrifice that will inherently be required. At times, this will involve waking up very early, not returning home until very late, and generally working more than you would otherwise prefer to.

    Advice to Management

    Given the events that have unfolded, there is not much to say at this point.


  4. "how it used to be"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Recommends
    No opinion of CEO

    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 Management

    NA


  5. "quality work, quality people and quality reputation but wish it stood"

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

    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 Management

    better strategy implementation


  6. "The sad tale for lehman"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Banking Summer Analyst in New York, NY
    Former Employee - Investment Banking Summer Analyst in New York, NY
    Recommends
    No opinion of CEO

    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 Management

    none


  7. "Great people and office, but tough hours"

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

    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 Management

    Better compensation

  8. "A great place to work, period."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service
    Former Employee - Customer Service
    Recommends
    Disapproves of CEO

    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 Management

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


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

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

    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 Management

    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.


  10. "I miss Lehman Brothers"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Executive Assistant in New York, NY
    Former Employee - Executive Assistant in New York, NY
    Recommends
    No opinion of CEO

    Pros

    Great Benefits ,Great Culture,Diversified. I enjoyed management and the company was very laid back

    Cons

    Long Hours
    Hard to move up

    Advice to Management

    It was the best bank


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