Lehman Brothers Reviews | Glassdoor

Lehman Brothers Reviews

Updated February 15, 2017
65 reviews

Filter

Filter


65 Employee Reviews

Sort: Popular Rating Date

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. Helpful (1)

    "If you get a great manager then you will love it."

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

    Pros

    For the operations class you get overtime which is wonderful. In addition, a work life balance is encouraged. The second most important thing is to network. If you do not do this then you will be stuck an analyst forever. Therefore you must attend events with WILL and various volunteer gigs. If you get sick then there is always a nurse and rest rooms. If they think that you need to go home, they send you off in a town car. Typically your managers are great and there is no closed door. People are really nice and laid back.

    Cons

    Your expierance all depends on your manager. If you work in the New Jersey office and plan on moving to front office BEWARE. You much absolutely network your butt off to get ahead. Try to meet MD's or VP's from other groups, it would typically be middle office. From there you would network with the sales traders. Visit the trading floor as much as possible and try to attend as many happy hours as you can. These are the keys to success as lehman. It is not who you know, rather it is who knows you. Oh and be friendly and laid back and you will fit in.

    Advice to Management

    Encourage mobility and increase bonuses for the support function. They are very very small compared to the other banks.


  2. "decent place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Summer Intern in Jersey City, NJ
    Former Employee - Summer Intern in Jersey City, NJ
    Disapproves of CEO

    Pros

    Some of the best reasons to work for Lehman Brothers are the name. It was one of the top four investment banks and it had a good reputation. The corporate culture is very friendly. Most of the people I worked with in Jersey City were very open and friendly. They promote a work life balance within operations. My coworkers were able to work one day from home each week. They also had plenty of opportunities for volunteer work. There were also different opportunities to network. They also had extra classes that could be taken. There were international opportunities in Europe and Asia.

    Cons

    Some of the downsides to working at Lehman Brothers were the recent filing of the bankruptcy. However, Barclays had honored the recent offers. It is also difficult to move up the corporate ladder and to transfer to a different department immediately. There was not enough openness in the company. Many employees were expecting things to turnaround during the summer.However, things did not improve, and the company had to file for bankruptcy, leaving many without jobs. There was a lot of data entry work that was not dynamic. There would only be work certain periods of the day. The rest of the day you would not be doing anything.

    Advice to Management

    be more open and honest with business dealings and with employees


  3. "Icarus flew too close"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Manager in New York, NY
    Current Employee - IT Manager in New York, NY
    Doesn't Recommend
    Approves of CEO

    Pros

    At the time it was the network possibilities. Just had to pick a rout and bust your ***.

    Cons

    Obviously, they made some bad moves and were over comfident that the Governemtn "corporate welfare" would kick in. Out of my hands though.

    Advice to Management

    Don't get overconfident and "trust but verify". When you think you're on top of the world, take a few minutes and to look around, you might just be standing in a wide hole.


  4. "Lehman: a business ruined by management incompetence."

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

    Pros

    That's a good question. Since the company has filed for bankruptcy.
    The used to build a lot of in house systems in the 90s but then the outsourcing trend championed by unsavory characters
    has taken it's toll.
    Now all their in house systems are a jumble of spaghetti code that might as well be written in sanscrit. No wonder Fuld never new for sure what his risks were..

    Cons

    Enough said. Too many things to list. A lot of people who have surpassed their level of incompetence driving few who are actually doing the work.

    Advice to Management

    Hmm... let's see....how about get a life ?


  5. "Was ok while it lasted"

    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
    Disapproves of CEO

    Pros

    Obviously a good name to have on your resume. Makes for some good stories in interviews. Was paid very well considering I was only there for an internship. Worked with extremely bright people. The people in my department were also very nice and helpful for the most part even though ours was one of the most hectic while the company was going through their crisis.

    Cons

    The company doesn't really exist anymore. Got the feeling that what I did didn't really make much of a difference. Being a huge company, it was easy to get lost in the shuffle. The 6th Avenue office wasn't nearly as nice as HQ.

    Advice to Management

    Diversify and handle your risk a little better next time.


  6. "Lehman survivors."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Disapproves of CEO

    Pros

    Now there aren't many. If you happen to work in the businesses that ae sold you'll be the man that knows situation the bst and you'll have safety. whatever doesn't kill you will make you stonger.

    Cons

    It was very stresfull ecently when we were allowed to fail. People were thinking about leaving only.

    Advice to Management

    It's too late now, but don't get too leveraged and be conservative always.


  7. "Fun while it lasted"

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

    Pros

    It was a top-tier investment bank that was a bit nicer than the others. People generally stuck around longer, and most of them had longer-term horizons, so even if not everyone was as good as at Goldman, the businesses could be more client focused and have more stability.

    Cons

    Deadwood stuck around way too long; bonuses were arbitrary and not very well designed, and the cult-like atmosphere killed off fresh ideas. There were too many independent silos, and no common risk-management framework open to everyone. The IT organization was very good at web-apps, but super-bureaucratic; very little actually got done. The I love me walls in the elevator were a bit over the top.

    Advice to Management

    Buy a chastity belt?


  8. Helpful (1)

    "Lehman lags other banks in compensation"

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

    Pros

    Firm encourages educational growth - Human Resources does its best to get training for employees - Training on product and management is excellent -

    Cons

    Senior Management promotes based on friends and family program - compensation always lags the rest of wall street There is a disconnect between what people are taught in training and to what happens in the work place - In the Operations side upper management is known for promoting and giving the best opportunities to relatives and relatives of friends - Preach one thing to employees but do the opposite to their friends and family

    Advice to Management

    Should challenge the bank to be more of a meritocracy


  9. "culture of the team you work for is everything"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales Associate in New York, NY
    Current Employee - Sales Associate in New York, NY
    Approves of CEO

    Pros

    relatively laidback culture, good mobility options when times are good

    Cons

    lack of communication from managers

    Advice to Management

    provide more communication about future changes that might occur and what they are thinking in terms of leading the firm out of this crisis


  10. "Great place to get your feet wet in finance."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - RMBS Financial Analyst in Denver, CO
    Current Employee - RMBS Financial Analyst in Denver, CO
    No opinion of CEO

    Pros

    Great benefits, work-life balance and place to get your feet wet. Discover your core competencies here and refine your technical skills. Lehman Brothers is a great brand to have on your resume and will definitetly help you out on your career path.

    Cons

    Bonuses are currently non-existing, yet used in the initial recruitment of employees and considered in "Total Compensation". Raises are also minimal and barely keeping up with inflation. CEO is rewarded with bonuses, even when Firm is struggling. Transportation Program needs to be fully subsidized by the Firm.

    Advice to Management

    Recognition needs to be given for all individuals on high visibility projects. Spotlight needs to be shared and the competitive environment needs to be more collaborative. This increases employee morale, motivation and engages the employee.


Showing 65 of 254 reviews
Reset Filters