Lazard Minneapolis
Any thoughts on Lazard Minneapolis? Comp? Culture? Dealflow? WLB? How does it compare to other banks in the area. Are they still Middle Market banking?
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Consumer team is terrible and always looking for talent to backfill. Used to work in Minneapolis and have heard this from numerous different sources at different firms. Had a friend reject an offer after they included in writing in the contract that they won't let you take PTO in the 1st 4 months, lol! See this thread here (OP deleted, but this nugget of a gem really shows you how terrible that group sounds, and is reflective of what I've been told):
"CFR is definitely the worst of the bunch. They've always been understaffed, had tremendous junior turnover and a cult-like culture that is separate from the rest of the bank because of their dedicated analysts, etc. They've got some good bankers, but they aren't people that you ever want to spend time with or socialize with outside of work. This is the type of group that loves to make people do strategic idea decks and other random PPTs for effectively no reason."
Do you have any info on the non-Consumer teams?
Unfortunately no, not really
Companies do ask or expect a new hire not to take PTO for the first few months. A written agreement seems better than running afoul of an unstated expectation. There is a reason for the hire, and if they could afford to see that new hire go on a vacation in the first few months, it begs the question if that role needed to be filled at that point. Besides, as a practical matter, the new hire would not accumulate any worthwhile number of PTO days in the first four months.
Yeah, its very often group dependent. Have heard of groups at my BB pretty much saying no time off for 1 year for new analysts. I know analysts have gotten luaghed at for asking in some groups. The only exceptions I've heard are funerals and weddings, thats pretty much it.
Come on though, what if it's a wedding and you need to be out for 1 day on a Friday? Yes, it's often expected you shouldn't ask for significant PTO early on, but to explicitly put it in writing is ridiculous.
If that group already didn't have the hire anyways, they can afford to have somebody be out for a few days in the 1st 4 months. There is no world that somebody can't take a day or two off and the group can't plan around it.
I did a few coffee chats and decided not to even formally apply. It sounded utterly miserable, like a total sweatshop that didn't value the juniors at all.
Oh wow. Any details? Can you PM me? I am considering trying to lateral to Minneapolis, and am looking at PSC, LAZ, and HL which seem to be the big shops in town
Not really much else to add sadly. Sounds like they just got worked to the bone all the time. I don't have any experience with any of the other banks in Minneapolis.
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