Lehman Investment Banking and Fixed Income Rotation Help

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Hey Everyone,

I have accepted an offer @ LEH and they have given me a few choices to which two divisions I will rotate in (I'm a Sophomore):

IBD
Fixed Income
Equities
Prime Services
Investment Management

I definitely want to try out IBD and one of the three Capital Market divisions. I have heard LEH is known for Fixed Income and was wondering how their Equities division held up?

In IBD, they give me a choice of Product or Industry.

In FI, they give me a choice of Sales, Trading or Research. I'm leaning towards Sales.

What do you think?

Thanks!

Comments (10)

 
Apr 8, 2008 - 6:11pm

So you would agree that FI is stronger than Equities?

Does pay differ b/t Sales and Trading?

Some have told me that in Sales I would learn more which would be applicable to other areas of Finance where Trading is more of "you learn it" and it's not really applicable to other areas.

I think also with Sales I would be able to "see" the client-base more. In the end, its just a 3.5 week rotation.

Thanks again.

 
Apr 8, 2008 - 9:08pm

Lehman's FI is definitely stronger than their EQ; it is still their bread and butter even though the bank has diversified a lot in the last decade (i.e. while their EQ is not as strong as their FI, it definitely has been generating more revenue in recent years)

Anyway, I personally think FI is more interesting as well.

Also, if you get placed on a lenient desk at Lehman, your point of contact will allow and arrange for you to sit in with other desks during the summer.

Also, do not do Prime Services.

 
Apr 8, 2008 - 9:16pm

Thanks again to both of you. Yeah, I'm definitely not doing IM/Prime Services.

That'd be great to have a desk that would arrange to sit also with other desks.

As far as IBD, any advantages/disadvantages to doing Product over Industry or vice-versa?

 
Apr 8, 2008 - 9:30pm

Most of Lehman Brothers' product groups sit on the 5th floor of HQ, and are collectively known as "Global Finance."

In regards to the groups on the 5th floor:

Honestly, its LevFin is probably dead; ECM and DCM are not groups I personally like; there are some other wierd groups on the floor like Risk Solutions and some other sh!t...

In general, its strongest groups are its industry groups.

I will say the atmosphere on 5th floor is awesome, because its laid out like a trading floor rather than cubicles like with the groups on the 20ish floors, so there is a lot of interaction.

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