POLL: Work for Lehman?

Hello fellow AFers - quick poll: Would you work for Lehman Brothers at this stage?

pimp - would you? (I might know the answer, but I want to hear your rant and insider story)

Depends on the position, the contract, the alternative opportunities, and your goals. So… maybe…

Only if they gave me stock.

dude, this is a CFA forum, get with it: what is your opportunity cost??? : ) -

I already do and I have been with them for 8 years already. I’ve seen my LEH stock value decline to essentially worthless levels. I don’t have much, if anything, to rant about. The experience has been great. I would like to see some drastic changes happen quickly as morale is very, very low. Given there’s really nowhere else to go, I’m sticking around for as long as I can, even if it means going down with the ship. I think they will survive, but I don’t think that they will be able to maintain their independance. I also think that Dick Fuld needs to go. He’s been sitting on his hands much too long already and has given employees and other shareholders false hopes.

I interviewed at LEH some months back and the job disappeared as all the layoffs started, but I REALLY liked the people I met there and the general feeling of the business culture (at that time). I wonder about them [the people I met] sometimes: AFAIK, there is no level of the organization, no degree of seniority, no division of the company that is safe from slashing at any time. After six months or so, that degree of uncertainty starts to wear on you. It can’t be fun for them.

You might want to make an investment if you are considering working there: http://www.rosettastone.com/personal/languages/korean

Unfortunately I consult for them and feel so bad for their state today. I remember it was such a happy place 2 years ago and there used to be fights over the swing-desk bookings, now around 50% of the aisle’s are empty, especially my division. We are still not clear as to who is going to pick us up but the decision should be just around the corner.

I have also interviewed for an Regional Retirement Service Consultant position 3 month ago, really enjoyed the process(smooth and professional) and the people who interviewed me; unfortunaly, timing wasn’t perfect, didn’t work out. Pimp, you sounded like a survior, hang in there, 8 years is a long time IMHO.

HSBC is talking to Fuld this wknd is the rumor hitting my berry.

the cds spread on lehman has quadrupled in the past week … if you are there already Pimp, you might as well ride out the storm, but if you are thinking of joining , think again. with another $4 bilion expected writeoffs in the next quarter and no sign of stopping and with a heavy boat load of securitizations still on their books … good luck in getting a buyer … more likely a cherry picking of the AM. tough market right now … no one wants to be the next bank to go down big … already 8 US regional banks had to be closed and rescued by other banks this year … pimp - are you also looking for another job, just in case?

“Hello fellow AFers - quick poll: Would you work for Lehman Brothers at this stage?” I would. You’d probably get one helluva education on operational risk. And if you’re resume said Willy R, CFA August 22nd, 2008 to August 31, 2008 - Portfolio Manager Lehman Brothers. I think most recruiters/managers would know what you were doing. Willy

Sorry - I thought the words “Die Lehman Die!!!” from a previous post might have harbored some negative feelings; my mistake. Ha - gl with everything - you have helped a ton of people here, including myself.

it would depend on the serverance package.

bchadwick Wrote: ------------------------------------------------------- > Depends on the position, the contract, the > alternative opportunities, and your goals. > > So… maybe… I like the way you look at things, in general, including things outside this post. I would have to agree.

gideon Wrote: ------------------------------------------------------- > Only if they gave me stock. HAHAHHA

pimp Wrote: ------------------------------------------------------- > I already do and I have been with them for 8 years > already. I’ve seen my LEH stock value decline to > essentially worthless levels. I don’t have much, > if anything, to rant about. The experience has > been great. I would like to see some drastic > changes happen quickly as morale is very, very > low. Given there’s really nowhere else to go, I’m > sticking around for as long as I can, even if it > means going down with the ship. I think they will > survive, but I don’t think that they will be able > to maintain their independance. I also think that > Dick Fuld needs to go. He’s been sitting on his > hands much too long already and has given > employees and other shareholders false hopes. Honestly, im going to be a bit of a ‘life coach’ aka friend who gets paid, in this post. If you want real advice there is a few things we need to know, what your personal situation is, where are you in the firm and what type group are you in, also what are your foreign language abilities and how willing are you to travel/emmigrate. Also the ultimate question is are you happy, on a fundamental level? Im not talking about status or all the shit you can buy, unless you are a complete sociopath material goods will never make you happy in the long term. Even looking at my own material concerns, if i accomplish that it wont satisfy me. If you have achieved the level of financial comfort that you have indicated in prior posts, at this point, if i were you, I would consider embarking on something more entrepenuerial. the beauty of working for lehman is that its a gold stamp on your resume. no human being should be subjected to that lifestyle, its kind of like boot camp for soft people. but now that their credibility is gone i think its time to look at different opportunities.

SeanC Wrote: ------------------------------------------------------- > pimp Wrote: > -------------------------------------------------- > ----- > > I already do and I have been with them for 8 > years > > already. I’ve seen my LEH stock value decline > to > > essentially worthless levels. I don’t have > much, > > if anything, to rant about. The experience has > > been great. I would like to see some drastic > > changes happen quickly as morale is very, very > > low. Given there’s really nowhere else to go, > I’m > > sticking around for as long as I can, even if > it > > means going down with the ship. I think they > will > > survive, but I don’t think that they will be > able > > to maintain their independance. I also think > that > > Dick Fuld needs to go. He’s been sitting on > his > > hands much too long already and has given > > employees and other shareholders false hopes. > > Honestly, im going to be a bit of a ‘life coach’ > aka friend who gets paid, in this post. > > If you want real advice there is a few things we > need to know, what your personal situation is, > where are you in the firm and what type group are > you in, also what are your foreign language > abilities and how willing are you to > travel/emmigrate. Also the ultimate question is > are you happy, on a fundamental level? Im not > talking about status or all the shit you can buy, > unless you are a complete sociopath material goods > will never make you happy in the long term. Even > looking at my own material concerns, if i > accomplish that it wont satisfy me. > > > If you have achieved the level of financial > comfort that you have indicated in prior posts, at > this point, if i were you, I would consider > embarking on something more entrepenuerial. > > the beauty of working for lehman is that its a > gold stamp on your resume. no human being should > be subjected to that lifestyle, its kind of like > boot camp for soft people. but now that their > credibility is gone i think its time to look at > different opportunities. fuck that was some hippie bullshit…i must be faded

I started 2 weeks ago and could not be happier. I dont think my group cares what will happen. We will get picked up in worse case. (energy trading)