Lazard Layoffs

Anyone else can corroborate Lazard letting go a lot of associates throughout MM segment and the regular segment too? Heard through grapevine they are chopping heads. Is it hitting analysts too?

Mod note: See related discussions here https://www.wallstreetoasis.com/forums/bad-time-t…, and here https://www.wallstreetoasis.com/forums/soft-fired…

 
CertifiedCDNUser:
prepare for downturn. the bubble is gonna pop soon.

I wasn't in the business during the last recession, but is there any difference between the disgusting amount of capital available (among corporates or sponsors) now vs. then (circa 2007)? I get that asset repricing is going to delay that capital being put to work to a degree, but it just seems like the floor is not that far down.

 

I don't have much to back this up (and someone who was in IB around 2008 can confirm) but I'd think Analysts are relatively safe from layoffs. You always need an analyst (i.e. cheapest grunt labor you can get) and a MD on a deal. You can probably live without an associate if you have a good VP who can roll up their sleeves.

This is assuming there is adequate deal flow..

 

One issue is firms are starting to promote analysts after 2 years now. Once they get the Associate title, they don't realize that they're actually A3s or ASO 0s. In any case, firm haven't adjusted the pace of promotion to VP. Hence, there's a thick layer of ASOs at firms now.

KC
 

What you're saying makes a lot of sense. However on the other hand, I also know that just 18 months ago when I was checking out the market, every bank was begging for lateral associates. Like, overflowing demand.

But I also agree with what you're saying so I think the truth is in the middle and this Lazard story is more of a Lazard problem.

 

Lazard is currently downsizing their India operations and recently some of the senior directors have joined other firms. Dunno why they would do this when they have been doing very well here tbh

 

Dolor facere unde consectetur enim enim necessitatibus. Nihil quia et a dolor debitis. Non blanditiis temporibus ipsa aut.

 

Ut corrupti distinctio quam eveniet. Voluptate ipsam harum excepturi consectetur aut consequuntur. Est qui et nostrum omnis doloremque.

Soluta ut accusantium illum. Harum consequatur aut corporis blanditiis est accusamus. Architecto quibusdam tempora quae repellendus et cumque labore. Amet sit libero consequatur eligendi maxime eligendi at. Delectus omnis ea est autem fugit. Asperiores omnis nostrum incidunt aliquam consequatur nesciunt. Alias rerum et ab.

Qui molestiae soluta nobis officia iure. Omnis voluptates sed tenetur modi aliquam voluptatem. Dicta officia et autem harum sequi suscipit.

"My name's Ralph Cox, and I'm from where ever's not gonna get me hit"

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
kanon's picture
kanon
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”