ATTENTION ALL LAZARD LONDON OFFER HOLDERS
HR told bankers this week that summer intern offer rates are capped at 40%. This is after 30% and 50% the last two years. Bankers are livid as reviews were generally positive for most interns and many teams are understaffed. Even last year's summer interns that converted were put in low-ranking teams while IPs and lateral hires got priority preference.
If you have an offer from somewhere else, do not do a summer internship here. HR is ruining this bank. If you have a spring conversion recruit elsewhere ASAP!!!
Not at Lazard, but appreciate the fact that a junior banker cares about the incoming talent
Most of us were in the same position before so we are all sympathetic
Are you on the Lazard internship waitlist?
.
Prospects these days be playing 4D chess
Yeah. I know someone who got in purely as a partners friend’s child. 2 quick interviews only.
Game is looking rough out there.
Also same for MS London: be aware, both firms will tell you how likely you are to get an offer but will lie and only take 30-40% (at least those are my numbers from a close friend)
Do you know if it is the same for their off-cycle as well?
No idea, can only speak for summers. I assume OCs are higher based on their demand needs.
What is the conversion rate for IPs?
I once interviewed with Lazard London for a lateral role. They knew I already had another offer, but HR (an older lady) came in with a really arrogant lowball. She flat-out said she didn’t believe my previous year’s bonus numbers (which were 60–70%) and then offered me a base salary lower than what I was already on. When I pushed back, she just brushed it off with, “This is Lazard — we want people who want to be here”
Safe to say, I did not take their offer
Too many layers of out of touch with reality; who wants to be where comp isn't good?
Efinancialcareers just posted an article on this. A spokesperson for Lazard has confirmed this is not true.
It's in their interest to say that though, isn't it? They're not going to say "oh no that is so untrue, we would NEVER cap numbers." Many banks say there's no cap but it's clear there is.
You'd be pretty stupid if you think that headcount is not a constraint on return offers. However, they'd look pretty stupid if they actually did cap it at 40%, after categorically denying it (people will notice if there is a low return rate..?).
Actually, it's in their interest to ignore a post on WSO or say 'no comment' when asked. HR rarely comes out and says something so plainly.
Why would HR be remotely qualified to make this decision?
HR is the elephant in the room of how ridiculous corporate culture has devolved. It's one of the remaining post GFC/low interest rate environment scam bubbles alive.
del
does this mean god's diddy won't get a return?
nah, g’diddy is directly being promoted to chair of de&i
Why hate on someone ? Just because hes doing better than you
why does everyone call him diddy tf
lol can i know who you are talking about?
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