The Culture in Lazard Asset Management?
I know that Lazard in general is considered a sweatshop more so in Investment Banking, but what about the Asset Management division? I'm also aware that Lazard is a great boutique firm. Are the hours as bad if you are in the Asset Management division? In general, i'm aware that the consensus is that if you work in Asset Management, you work less hours, and it's a bit more laid back than in IB. I have interned on both the Buy and Sell side (Vontobel Asset Management and Societe Generale). I'm about to go into an interview for a Junior RFP writer position. What are your thoughts on Lazard Asset Management overall?
Shopwise, LAM is tops and working in Rockefeller is nice once you get rid of all the tourists. They have the rare blend of a recognizable name and a top AM shop; where sometimes you get great AM experience but not necessarily a great name on your resume.
Writing RFP's is pretty tough though - you really are a glorified copy and paste monkey, even for specialized mandates. You'll gain a very good understanding of the business by doing so, but it's pretty nasty work one or two years.
Let me know if you have any questions regarding RFP work at an AM.
What would an interview be like? I would imagine it is more of a fit interview than technical. They did ask that I submit a writing sample though. I'm not sure if that means whether I bring in a sample for the interview, or have the interview and submit it after. What do the hours look like most of the time. I would imagine it can't vary so much from firm to firm. An RFP writer is an RFP writer (or copy and paste monkey as you say). As an intern at Vontobel Asset Management, I was in the office at 8am and out at the very latest 6:30pm. I think Asset Management the hours are not as bad as IB
Interviews vary from firm to firm. I haven't personally worked at LAM, but have worked at an extremely similar firm . RFP season is really around quarter end when you get a bunch of bullshit RFI's too, and you probably stay as late as 8-9PM. It depends on how organized the firm is - some RFP/RFI's are ridiculous and ask for cybersecurity and firewall information. If the firm is very well organized, then all of this information will be public and your life will be easy. If not, you end up chasing a bunch of relevant parties and also asking compliance if it's legal to disclose this information.
For the writing sample, ask HR if it's not clear. AM hours generally are better than IB, but you take a little bit of a pay cut too.
i dont work at Lazard. but from my experience with them on campus, I am not impressed by their people. the junior ppl did not seem happy. they did a pitch presentation... i have to say that it is the worst i have ever seen....the senior ppl were great but they were kinda cocky. it seems that they dont want to talk to us or their junior ppl at all. this could be biased since it is a small sample.
Were they from the IBD or AM?
AM
They had a pretty famous porn star, no complaint on that one.......
Yes try to get in touch with "Veronica Vain" - I'm sure she knows everything about the interviews
From the few people I've met at Lazard AM, I would say their AM culture is significantly better than their IB culture. Lazard's IB has a reputation for being a brutal place to work. The AM people I met were intelligent and actually pleasant to be around.
Putting culture aside, I've been pretty impressed by the people I met from Lazard in general. I totally disagree with the notion that their people are second tier.
Lazard Asset Management phone interview, why Lazard, culture (Originally Posted: 02/08/2010)
I have a finance interview with Lazard tomorrow for Asset Management. Just some questions for people who have gone through the process:
1) Apparently the "phone interview" is with HR tomorrow - she wants to know who else I am interviewing with, why Lazard, etc. Is this the first round, or a prescreen for the phone interview?
2) Why Lazard? I mean I know the basics but what are some things I can say that can really stand out? I am from a non traditional background/major so I'm new to banking/finance interview.
3) What is the culture of Lazard like?
any other advice and tips?
Not sure about their Asset Management division, but "generic" things you can say about Lazard are:
-very lean deal teams = high deal and client exposure
-boutique feel with bulge bracket capabilities (this pertains to i-banking side; not sure if you can spin it for asset management side)
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