I’ve heard a lot of hype that analysts and associates at Lazard get paid less then their peers at other elite boutiques.
Can anyone provide insight.
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Friend was AN1 last year and believe his all-in was $180k
If you’re middle of the road then this is true. If you get tapped as a rockstar I know for a fact they pay in line with other top An/Aso at EBs.
Can provide some insight:
Seems low for asso bonus but otherwise looks good
Maybe this is not widely known here, but there's public survey data available on comp from Associate through to Director for basically all banks. Just google "weatherly group investment banking compensation 2019" and click on the first PDF result. Data isn't perfect and you can't find the most recent year's report via Google, and you also don't know whether the average respondent in any given year was low/mid/top bucket, but... it's probably the least bad data out there
Wow, surprised I haven't seen this linked elsewhere before - very insightful. SB'ed
http://twgco.com/2019IBCompensationReport.pdf
Bruh that one Qatalyst As2 out earning the VP1s everywhere else
Any other perks of working at Lazard to take note of?
also interested
like perk perks, lifestyle policies etc.?
Yes that would be super helpful to learn
Yes. Please describe the lifestyle at Lazard.
I have heard recently the firm shifted from a sweatshop to more retention focused (offering all bankers work from home on Fridays and Mondays). Seems they really want juniors to stick around / want them to have a good experience and are willing to bring them to board meetings, have more flexible hours, etc.
Also any information on pandemic pay bumps / incentives?
Also interested in learning more about this from those with more knowledge
Definitely a big shift in focus over the last 5 years or so. Lifestyle has gotten a lot better across the board but remains group dependent - some groups have the best lifestyle on the street, some are lagging behind culturally. Groups are very small, even the largest sector groups have only 30 bankers total, so the experience you'll have is very dependent on the personalities around you.
any insight into which groups in particular have good culture / are actually implementing hybrid model / protected weekend once a month? Ex. I know rx ny is slower to move with frequent all-nighters and weekend work still plus m-f in office, but what about groups known the be chiller (industrials, tmt) - is it late nights even though still hybrid?
No COVID pay bumps. Still an in-and-out 'exit-oriented' shop with very few sticking around; almost all associates are from MBA programs. I do not think this has changed at all in recent years. There have been some pushes to improve work-life balance (e.g., protected Saturdays, no calls 6:30-7:30pm, mandatory vacation) but they are just a smoke screen as very few groups actually respect them. And pay is below other boutiques.
How does mandatory vaccination have anything to do with good WLB? Or was the "no" also applying to the mandatory vaccination?
Vacation not vaccination.
This is pretty accurate, retention from Associate on up is extremely good but maybe 80-90% of analysts take a buyside/similar exit so Associate classes are necessarily weighted towards MBAs. I wouldn't say that's a bad thing though, if analysts leave because they get great exit ops then good for them.
It's not protected Saturdays, rather a protected weekend once a month. Mandatory vacation, 6:30-7:30, WFH Monday/Friday are very very new policies, too early to say whether groups are adhering.
Pay has more dispersion than other boutiques, maybe the median is lower than Centerview etc but the top buckets are top of street (Qatalyst excluded)
Having MBA associates from an analyst's perspective is not ideal in my experience - oftentimes they are not the best / do not come from a banking background (or else why would they have gotten an MBA?), so at least in my experience they tend to hurt more than help when it comes to getting materials together in an efficient manner. YMMV of course and there are plenty of good MBA associates, but I guess not in my group.
If I recall correctly, the 6:30-7:30pm rule and mandatory vacay was rolled out ~2 months ago and there hasn't been a peep about it since + no enforcement from higher up. And I had an internal call scheduled at 7pm the very same day that it was rolled out...it's at the very best an entertaining joke in my group.
As for comp, believe it is fair to say we pay similar to Greenhill / PWP, slightly lower than EVR and less than PJT / CVP. Hard to see the pull to stay on as an associate when most buyside gigs will easily beat that...
Do you think Lazard might raise again beyond $100K with the recent pay bumps of their primary comparables to $110K and $120K from what you've seen/heard?
Very much doubt it
x
Mind sharing what group you're in?
What are associate hours like?
x
Does anyone know what Lazard analyst bonuses looked like this year?
Did associate pay get pumped? Or would that be communicated at year end?
Pay is $100K now base 15K signing, Monday/Friday day WFH a week and a month remote a year
Honestly, I'd take the 10k haircut compared to other banks so that I could work remotely
Anybody know what their associate bonuses are like?
Does this also apply to Lazard middle market?
Know someone who works there: $85k +15k signing +$100k bonus for all in group as 1st year analysts. $110k base second year.
A2 is $110K
Is the base for A0/A1 now 200K?
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