What do ‘Lean Teams’ mean?
What the hell is a lean team?
Hearing it be said a lot but have absolutely no clue what is meant by it…
What the hell is a lean team?
Hearing it be said a lot but have absolutely no clue what is meant by it…
Career Resources
It's code for "we aren't hiring more, work harder"
Code for "understaffed"
it's business talk for "you will get absolutely worked"
code for "we can't retain enough talent because the culture sucks and/or we are cheap and you will do the job of 2 people for the same pay"
I've done lots of lateral interviews over the years. anytime I hear someone talk about "lean teams" and "great deal experience", punctuated with a "work hard play hard" culture....I know to STAY AWAY
what are your hours like now?
Heard this recently w Laz RX, had shockingly few ppl on the team
RX groups tend to be smaller since it's so counter cyclical. Can't have a huge team doing nothing in the good times.
Alternatively, it could also mean that you will have more exposure/responsibility throughout the entire deal process. For greater context, I currently work on a "lean" team (all other junior resources were either fired or quit). Yeah the hours suck sometimes. However, I've had the opportunity to do things outside the scope of what "normal" junior people do. Whether it be leading meetings addressing pre-IOI questions with prospective buyers or traveling to clients' facilities solo to sit down the with the CEO / other c-suite folks to work discuss the CIM / buyers list / operating model. I've been able to learn a ton and take on a lot which will ultimately make me more marketable.
That said....there is a fine line between a "great learning opportunity" and being taken advantage of. The more experience you have, the easier it is to distinguish between the two.
This usually never happens why tf would they give a junior level employee that much responsibility. Everyone knows juniors/new analysts are dumb as bricks. Lean deal team 99% of the time means you’re gonna get dogged
Agreed, this usually never happens to new hires. My situation is a bit unique (4+ years of buy-side/M&A experience).
Means they don't hire obese people
It means exactly what it says. For example: on any average big deal:
BB - 2 coverage analysts, 1 coverage associate, 1 coverage vp, 1 MD + 1 product analyst, 1 product associate, 1 product MD
EB / “Lean” - 2 analysts, 1 associate, 1 VP/Director, 1 MD
This. I worked in a lean MM boutique, deals were occasionally as lean as MD / VP / analyst. Worked on one deal which was MD / D / analyst. Great learning experience, but stressful at times when you don't have sufficient support up or down the chain.
Fortunately the firm I was at had reasonable WLB. If you're at a sweatshop lean can be hell.
This thread is reflective of the pussification of America
when I was an analyst, I hated deals where associates were staffed. I’m pretty sure several hapless post MBA associates lost their jobs because I completely ignored their BS instructions.
when I was an associate, I flat out refused to work on deals where there was a VP staffed (I dont think I did once) and pretty much told even the Directors to “go to the Hamptons or somewhere, but leave me alone and let me get the deal done”
I was a real dick as a junior banker to the mid level bureaucrats at my firm but got away with I because I was good and the MDs and clients liked working with me.
Big deal teams screw junior bankers because you have no control and the larger the deal team, the more shit that rolls down.
The quicker analysts can stop being “junior” and take control of their work, the better their lives will be. I only survived as a junior banker because I took control fast - of course, I had deal related timelines and client deliverables but those were mine to manage and because there was no middleman, I could do so more efficiently.
this strategy only works however when you have an MD who is sufficiently confident in a client relationship.
I wish this strategy were available more often. You still sound absolutely brutal to work with for someone above you
pretty based but word only holds value if you're a rainmaker ATM or rainmaker in the making
It means you’re working till 2am on the reg
Sounds like a Juice WRLD song
HAHAHAH
It can mean other banks have multiple teams performing your role.
I believe the moniker draws its roots from how civil war era ironclads were staffed.
What the god damn hell does this even mean
In the name of the pandemic companies have been cutting a lot more workers and demanding more work from those who remain. It’s a blessing they tell you the team is lean - don’t join.
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