Overview
Introduction
Lazard is one of the world’s most prestigious investment banking firms. Its well-known mergers and acquisitions group has advised on some of the largest, most complex deals of the past 100 years. Lazard’s excellent internship program allows interns to work on live deals alongside senior bankers and clients. Lazard excels at mentorship and individual development, giving its full-time bankers clear guidance on their strengths and areas for development. Lean deal teams offer a lot of responsibility.
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Vault Verdict
One of the most prestigious financial advisory and asset management firms on Wall Street, Lazard is looking for intellectually curious, hardworking, personable, well-rounded candidates with a diverse set of experiences (you don’t need to be a business or finance major), and a genuine interest in the firm’s business. For students, Lazard runs a rewarding internship program, offering excellent formal training, informal mentoring, and the ability to work on live transactions alongside senior bankers. Meanwhile, the firm’s full-time junior bankers have access to extensive formal training, a deeply embedded apprenticeship mentality, formal mentorship programs, internal mobility options across groups and offices, and early promotions.
Lazard goes to great lengths to su...
About the Company
Founded in 1848, Lazard has advised on some of the most significant mergers and acquisitions in Europe and the Americas since the beginning of the 20th century. The firm's modern history can be traced to the year 2000, when the “three houses of Lazard” in New York, Paris, and London formally united as one partnership. The firm went public in 2005 and today is one of the world’s most prestigious financial advisory and asset management firms, with offices in more than 35 cities across the world.
The firm employs more than 3,200 people globally and is led by Peter Orszag, its Chairman and CEO. Orszag previously served Lazard as CEO of Financial Advisory, Head of North American Mergers & Acquisitions, Global Co-Head of Healthcare, and Vice Chairman of Investment Banking. His resume also includes two positions in the Ob...
Employee Reviews
- “From the outset of the pandemic, Peter Orszag communicated a well-researched approach to remote work—the need for some coordinated time in the office with the flexibility to work remotely at times. We have been one of the few banks that has stayed consistent in that approach, and it works very well in promoting balance. We’re Tuesday to Thursday in the office, and Monday and Friday remote, with the ability to select a month to work remotely. This has allowed me exceptional balance and flexibility, especially with a young family.”
- “The hybrid work policy is fantastic—it’s in touch with today’s world, it increases quality of life, and it’s a real competitive advantage for recruiting and retaining talent. Vacation usage is largely dependent on group and live client work, but the firm overall has a culture of respecting and honoring PTO. Most groups at the firm honor the remote month and protected weekends policies.”
- “Best parts: Hybrid work schedule. Annual month to work from anywhere. Firm culture of working from home after dinner. Vacation days are encouraged, with minimal work done during PTO. Analyst-to-associate sabbatical (one month sabbatical following promotion). Worst parts: Long hours and weekend work is typically the norm.”
- “Lazard does a good job promoting work/life balance in the construct of investment banking. The biggest thing that is helpful for me is flexibility on how and when we work. I take advantage of the WFH policy every week, and I leave the office at 5:30/6:00 p.m. to eat dinner at home with my family. The only area that I think we need to improve on is ensuring folks take vacation/disconnect. The downside of having lean deal teams is that it is challenging to get an air pocket between live client assignments to be able to disconnect. When you are the main point of contact, it is harder to be able to step away at Lazard. Part of this is group-specific, but it is something that the firm could work on.”
Getting Hired Here
- “Interview process is typically a phone screen, then a first round, then a Super Day. Ideally, we’re looking for highly intellectual, naturally curious, pragmatic, strong communicators who’ve demonstrated a desire to work hard. Summer programs are very important pathways to full-time and analyst hires.”
- “We only go to market with intellectual capital so we seek bankers who are exceptionally intellectually curious. That also means we look for candidates with more diverse experiences than the typical bank—we’re not all undergraduate business/finance majors or MBAs. Our recruiting process is very well-coordinated and moves quickly to respect candidates’ time.”
- “Focused on exceptional and well-rounded candidates who are genuinely interested in the advisory business and helping our clients with their objectives. Many of our candidates are from top liberal arts schools and have varied interests and talents outside of work. Many are interested in working with international colleagues and clients.”
- “Ideal candidate is intellectually curious and willing to put in the time and effort to learn and grow, and wants to be at Lazard given the differentiated fit. They should be smart with a good personality and ideally unique in how they think and approach problems.”
Perks & Benefits