Lehman Brothers Reviews | Glassdoor

Lehman Brothers Reviews

Updated February 14, 2017
236 reviews

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4.3
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Lehman Brothers CEO Richard Fuld Jr.
Richard Fuld Jr.
38 Ratings

236 Employee Reviews

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Pros
Cons
  • Due to over commitment of projects there were long hours spent at work (in 24 reviews)

  • They levered up on real estate and went bankrupt (in 12 reviews)

More Pros and Cons

  1. "Go in with your eyes open"

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

    Pros

    The pace and environment are incredibly intense. The work itself is generally very interesting and challenging, with opportunities to learn and stretch yourself.

    Cons

    Your experience is largely determined by the small group of colleagues you work with on a daily basis. I had the misfortune of working with some of the most sociopathic, miserable, nasty people imaginable. The adage is true - if you want a friend on Wall Street, get yourself a dog.

    Advice to Management

    Senior management has enough to deal with right now - there's no doubt that the short-term out-for-myself-only greed greed greed factor has come home to roost.


  2. "Lehman: Don't bother"

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

    Pros

    While it existed, they did pay every 2 weeks, and they kept me employed for 13 years.

    Cons

    Lots of compensation was made in company stock which became worthless at bankruptcy. Yearly bonuses that were used as basis for "total compensation" included restricted stock which was values at grant price giving the false impression that we actually made more money than we did.

    Advice to Management

    Don't gamble my career away.


  3. "dead"

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

    Pros

    Nowadays, it's not possible...the company went bankrupt. The pay was quite good though, and it is a very respectful environment. It also should be said that despite the stupidity of senior management, as a whole Lehman was comprised of extremely intelligent people. Everyone I worked with was smart and competent.

    Cons

    Aside from the fact that it went bankrupt. There was no sense of what management was doing at any point. I started out in an office and ended up on a floor of empty desks all by myself. It was miserable. I had almost no training and nobody cared what I did.

    Advice to Management

    you screwed up


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  5. Helpful (1)

    "Always worked with smart and driven people, every day was exciting"

    Star Star Star Star Star
    • Career Opportunities
    Former Employee - Senior Vice President in New York, NY
    Former Employee - Senior Vice President in New York, NY

    I worked at Lehman Brothers full-time (More than 5 years)

    Pros

    The Firm only recruited the brightest people so you were always working with people that hallenged you. But is was also a very team oriented company so the balance was important of moving business forward.

    Cons

    Towards the end there was morebegoninvolved by he senior management and that led to the rims downfall. They should have thought about employees who built the company and not there personal bank accounts.

    Advice to Management

    Don't let greed get in the way of doing the right thing, even if it is hard to do
    .


  6. "not much chance of promotion ..."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Trader in New London, NY
    Former Employee - Senior Trader in New London, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Lehman Brothers full-time (More than 5 years)

    Pros

    whilst the bank was running - times were good. good environemnt, good career ladder, good pay. not so anymore ...

    Cons

    the closing of the firm was a blow to the career prospects it offered, the career ladder collapsed. the pay stopped and things generally took a turn for the worse.

    Advice to Management

    don't ruin any more instituations ?


  7. Helpful (2)

    "Greed Can Kill An Organization"

    Star Star Star Star Star
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Lehman Brothers full-time (More than 5 years)

    Pros

    It no longer exists! While it existed, it was a pretty cool environment to work in. The people were very collaborative. It was the senior management that allowed greed to kill such a longstanding organization.

    Cons

    After over 150 years of being in business, greed caused the company to have to liquidate!

    Advice to Management

    They no longer exist. They are probably somewhere else killing the life of a corporation.


  8. "it is over!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Consultant in Boston, MA
    Former Employee - Financial Consultant in Boston, MA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    learned how to make money and appreciate savings

    Cons

    company went down the drain. Know who is steering the ship!


  9. "Nice office, better managevent needed"

    Star Star Star Star Star
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Location, location, location. Office with beautiful views.

    Cons

    Poor management, disorganized from day one.


  10. Helpful (1)

    "Typical Arrogant Banker Atmosphere"

    Star Star Star Star Star
    • 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

    Pros

    I worked at the building now owned (or leased) by Barclays at 745 7th Avenue, New York. That's about where the Pro's end, the building itself.

    Cons

    Inside this building you would have found some of the most useless workers alive. I think shampooers at a salon produce more than the once Lehman worker. This included myself. A collection of losers who gave up on their actual dreams and were drawn to work in NYC by the shinny lights and the hope of getting rich for doing absolutely nothing. It may have seemed like they were busy, but what was really happening is individuals trained to stare at a computer screen and click buttons to move a giant sum of artificial digital money from one account to another to try and make a tiny spread in the trade so they can make more artificial digital money. All the while doing it with a type of arrogance as if they are the dream team of financial markets. They actually created a culture that sported the traders and salesmen akin to rockstars. The mystic of which was supported all the way down the chain of command through middle management to operations. Ultimately, it was proven they were all full of hot air.

    Advice to Management

    Go bankrupt. Advice Taken.


  11. "Fulded"

    Star Star Star Star Star
    Former Employee - Anonymous Employee in Vallejo, CA
    Former Employee - Anonymous Employee in Vallejo, CA

    I worked at Lehman Brothers (Less than a year)

    Pros

    It has the distinction of being the only company to collapse by arrangement, over the weekend during the 2008 Financial Crisis. I believe it was or perhaps still is the largest US bankruptcy.

    Cons

    It is long gone, closing its doors September 15, 2008



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