I was fortunate enough to receive a summer offer from Lehman. I'm close to accepting the offer, but want to get an idea here as to what the best groups within Lehman are, so that I can see whether I can get into them.
I always hear people talk about the "best groups" for other banks (GS TMT, UBS LA, MS M&A, CS Sponsors, DB LevFin, etc.), but I never heard anyone pick out Lehman's top groups that way.
So, with that said, anyone care to chime in with their thoughts on Lehman's top groups (both in terms of work experience and exit opportunities presented)?
Thanks!
Lehman is really strong in following 3 groups:
1) Media Telecom (advised AT&T last year on Bellsouth acquisiton) 2) Energy/power 3) Consumer group
I was told that their FIG group brings in over 30% of Lehman´s overall revenue by somebody in the group. I´m not sure if I believe this because the number seems a little bit high. However, a lot of different kinds of deals are run through this group (therefore it´s possible to learn many different products) and it is a relatively large group so it´s possible. FIG clients also tend to have more complex financing needs and as a result I believe that you may get to be involved in more interesting deals.
Btw, congrats on the offer!
not sure about revenue % though.
Natural resources, CMG (comm & media), healthcare
You're splitting hairs. They're basically in the same group as BB's.
I know Lehman has a separate M&A group, but I heard the M&A analysts actually work within the industry groups. Anyone know more about how this works?
Also, is Communication & Media in general a cyclical industry? I just want to make sure the group doesn't start firing people in case the economy turns south.
I think based on what people said, I will rank my preferences as follows:
1) Communications & Media 2) Natural Resources (is this the same as Energy?) 3) Consumer 4) Healthcare
Thanks for the input, and I'd appreciate any other thoughts as well.
Lehman's T-com group is legit.
Used to work at Lehman and here are top groups:
Natural Resources (best on the street hands down no argument) Comm & Media FIG Consumer (hired CSFB's team last year and they are killing)
How are the LevFin and Sponsors groups viewed within Lehman? Which one is supposed to be a better experience for analysts?
I'd stay away from both groups at Lehman. Their sponsors group in LA is a daily shit show. LevFin doesn't have the talent to attract deal flow.
Energy group
it's gotta be natural resources, hands down
bump
All M&A bankers belong to a separate M&A group. You must be recruited or matched into it. But, once in M&A, you will sit with your chosen industries.
Telecomm is good, but fighting hard against Evercore with Michael Price running the street again. FIG is great Retail/Consumer is great someone mentioned the poaching of CS team which was a great addition.
what's the deal with lehman sponsors? why a daily shit show?
bump
Any views on Lehman in Chicago?
I heard they are good in M&A as well
lol
I heard risk is a good spot to work as well
i want to know what happened to this person. This story is incomplete
He’s probably fine.
Not sure about coverage groups but they’ve got a great MBS trading desk
I think their mortgage backed securities group is gonna kill it in the next 19.5 months. Will really solidify Lehman as the top bank on the street. Save this comment. That way I can say I told you so!
MBS desk uses crazy leverage if you want to make the big bucks doing prop trading.
There’s a GS vs Lehman thread which is equally hilarious now.
Congrats on the offer! Hopefully you get a return offer and get to start in summer of 2008! I can already sense that you're gonna be a rainmaker MD at lehman one day. Remember, the bros always win!
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