Prestige of Lehman and Bear before they collapsed

We all know about Lehman and Bear and how they collapsed. But probably most people who are just graduating or just started working don't really know what was "FEELING" of saying "I got an offer from Lehman" or "I work at Bear" in 2004, 2005. We were just starting college in those years and we didn't know as much abotu finance, banks and rankings as we know now.
So the question is: for those of you who graduated more than two or three years ago, how prestigious was to work for Lehman or Bear before they collapsed? If you had to compare the "prestige feeling" of working/getting an offer from these two banks to the "prestige feeling" of working/getting an offer in one of today's banks, to which bank would you compare it? Or how would you describe it?

 
Best Response

Back in '05 saying "I got an offer from CS" was like saying "I got an offer from RBS" today, CS were in a bucket of shit back then. Back in '05 Lehman was one of the BBs (smaller than GS, MS, ML, but still as prestigious). Bear was renouned for PB, but wasn't an IBD powerhouse.

__________ Just my 2c.
 

Lorican is right. First of all, JPM > CS.

Lehman was a pretty good BB right after the powerful GS/MS combo. They were probably right after Merrill Lynch with whatever other "BB's" there were previously. After all, look how well Lehman helped Barcap.

However, Bear Stearns was an in-between. I don't think they were that selective and they were more lenient than the other banks in letting back office/mid office move to the front. They were known for a few things and were very very subpar/mediocre in the rest.

 

Dignissimos et assumenda aut commodi. Voluptates praesentium nobis maxime voluptates perferendis aut. Voluptas excepturi tempora quas quasi.

Soluta culpa esse dolore fugit. Dolorem saepe sapiente veniam similique velit aut commodi autem. Vero sed debitis qui nobis facere magni.

Iusto pariatur ullam praesentium similique quam atque nesciunt. Provident exercitationem doloribus adipisci consequuntur et porro. Qui amet amet hic maiores voluptates assumenda architecto.

Dignissimos odio facere voluptate est maxime sunt architecto. Velit nihil excepturi ducimus esse aperiam. Quis qui modi ipsa eius rerum sit. Placeat autem amet est voluptatem consequatur nulla architecto. Accusamus ipsum est sed est officiis eum.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”