Lehman Investment Banking and Fixed Income Rotation Help

dell123's picture
Rank: Chimp | 13

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

IBD
FI--sales vs trading is up to your personality

dont do IM or prime serviceas

Apr 8, 2008

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

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

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

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.

Apr 8, 2008

So, would you go for Product or Industry? I had someone tell me to go for Industry as I would be exposed to more things and less chance of being stuck with selling one thing.

Apr 9, 2008

What's so wrong with IM? In addition to being the fastest growing division within the firm, it also posted outstanding performance in Lehman's last earnings release.

Apr 9, 2008

dell23,

Personally, I would go for Industry at Lehman.

Apr 9, 2008

Someone had PM'ed me and I accidentally erased the message. Please re-send! Thanks!

Apr 10, 2008
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