I recently received an offer for a summer internship in Lehman IBD and I am unsure which groups are the best at Lehman. Does anyone have any suggestions/opinions? Thanks.
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The groups that Lehman is top 3 in are:
Natural Resources
Consumer/Retail
Communications
Thanks. Also, any thoughts on industry vs. product groups? Anyone know what Lehman's LevFin is like?
In the case of Lehman, they have a different business model from other firms. They have product groups within industry groups. So for example, you could be a Consumer/Retail Group M&A analyst, specializing only in M&A for this sector. If you don't want that, you would then be a generalist in that group doing everything else apart from M&A - mainly equity & debt deals.
Personally, I think this set up ain't that good, but if I were to choose, I guess I would go for the M&A option. But make sure that you know which industry group interests you best.
Lehman's Lev Fin team is growing but it ain't too strong at the moment. It's 7 in the league tables after JPM, Citi, CS, ML, BofA, DB
To the OP: do a search on this topic as there have been a couple of threads on this this month with some good info. The communications group lost their biggest MD (and group head), so whether or not it will continue to be a top group is questionable.
It's true that they do work on M&A deals occasionally, but in terms of the bulk of their work, they focus more on equity/debt deals. That being said, the amount of M&A coverage depends on each industry group - generalists in some industry groups get to work on more M&A deals than others.
Does anyone have any first-hand experience as to what kind of cultures the different groups at Lehman have?
How good is Lehman's healthcare group? I have a summer offer from the firm and really like healthcare (former pre-med) but haven't heard much about Lehman's group apart from the recent Triad hospital buyout. I'm choosing between Lehman & 2 other BBs. Thoughts?
Natural Resources is Lehman's best group, but FIG brings in ~25% of IBD revenue each year.
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