Why Lazard? Here's my response. I'm not sure if it's correct, though.
Hi there!
I have an interview at Lazard coming up and prepared a response to the question "Why Lazard?". However, I am not sure if it is fully accurate. My thinking is that Lazard's business model as an independent financial advisory firm is very appealing. As I understand it, Lazard only advises and does not provide underwriting or "balance sheet bank"-like services and can therefore focus only on giving the best advice. This leads to lasting and meaningful client relationships which, in turn, allow the firm to give graduates a lot of responsibility early on and creates a more collegial work environment because there is less salesmanship involved.
My question: is there anything factually wrong with this response? Something where you, as a banker interviewing me, would be like - wait, what?
Thanks in advance. I'm open for any other input on what interviewers might like to hear in response to this question. Also, I hope this is the right forum. First post here, so please redirect me if it isn't.
"in turn, allow the firm to give graduates a lot of responsibility early on and creates a more collegial work environment because there is less salesmanship involved."
This is complete bs
And the answer is too general, that could be used for any boutique, try to make it more personal
Thanks for the feedback! Would you mind elaborating why it is bs?
Investment banking is all sales, so saying less salesmanship is wrong because that’s literally all seniors do
As comment above said, this would be more of an answer to "Why boutique > IB?". Try to talk to some people there, research some deals, read up on them in the news, read their annual reports for any strategic guidance etc. Try to make it less generic and show that you researched Lazard well.
Not at Lazard, but have found success networking with analysts first and asking for their why, then recycling their answer + my own interpretation for interviews later.
Shows that you did your due diligence on the firm and reflected why they’re the right one for you. Plus, you can’t be wrong because a current employee shared their answer with you.
this works perfect ^^ how i landed my first gig and how i got superdays to others.
Agreed on above point also what you see is that if multiple analysts mention the same thing (Firm is growing/Culture/Lean teams) - it's probably something the firm wants to emphasize. What I got from calls with Lazard was def the culture + the generalist SA program
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