Capital Markets Analyst Program: U.S.
The Capital Markets analyst program is a two- to three-year program in which you are trained, placed in a business within Capital Markets (unless directly placed) and developed professionally on an ongoing basis.
You are assigned a program manager who is responsible for your career development while you are in the program. The program manager guides you through the rotation and group placement process, and monitors your career development by facilitating the feedback, review and advancement process.
Rotation And Group Placement Process
Prior to participating in the initial training program, analysts and senior analysts hired as generalists will rotate through businesses in the Equities, Fixed Income and Capital Markets Prime Services divisions to find a permanent position within the Firm. Analysts who are directly hired into specific positions (typically in Real Estate, Structured Finance, Public Finance and Analytics) do not participate in the rotation process.
The generalist rotation process begins with career fairs, where generalists will learn about the various Equities, Fixed Income and Capital Markets Prime Services businesses seeking to hire analysts. Following the career fairs, generalists will follow rotation schedules, consisting of several four-hour interactive rotations through various desks, enabling them to explore different roles and functions within all three divisions.
Upon completing these intensive and interactive rotations, placement decisions are made by the regional heads of the Equities, Fixed Income and Capital Markets Prime Services Divisions, based on overall business needs, appropriate fit and your preferences.
Once placement decisions are made, you will participate in an eight-week training program, after which you will begin working on your assigned desk. From this point forward, your progress is carefully managed by your program manager.
Feedback And Review Process
The purpose of the review process is to provide you with relevant feedback on your performance, as well as to advise you on what you need to do to get to the next level. Capital Markets analysts are formally reviewed every six months.
The Capital Markets analyst review process includes the following stages:
- Goal setting (fall of first year).
- Informal check-ins (winter of first year).
- Initial performance review (spring of first year).
- Informal check-ins (summer of first year).
- Second performance review (fall of second year).
You will work with your managers to complete a goal-setting plan. The purpose of the plan is to identify performance objectives and development goals.
Informal check-ins also take place to provide you with the opportunity to receive feedback from your managers before your formal performance reviews. Program managers collect this feedback and then meet with you individually to discuss your performance on the desk.
The best feedback, however, is provided on the job. We encourage you to check in with your business and program managers, along with your colleagues to obtain regular feedback on your performance.
Advancement Process And Timeline
Analysts
As a Capital Markets analyst, you are eligible for promotion to associate at the end of two years. If you are promoted after two years, you assume the associate title in the summer of the second year and will continue to work in your current business. If you are not promoted, you may be asked to remain in the program for a third year. At the end of the third year, you are again eligible for promotion to associate. The promotion decision is communicated in the spring/summer of the second year in the program.
Senior Analysts
As a Capital Markets senior analyst, you are eligible for promotion to associate at the end of your first year in the program. If you are promoted, you assume the associate title at the end of the first year and will continue to work in your current business. If you are not promoted, you will complete the second year of the program, joining the rest of the analyst class. At the end of second year, you are again eligible for promotion to associate, or you will exit the Firm. The promotion decision is communicated in the spring/summer of the first year in the program.
Mobility Opportunities
Lehman Brothers supports mobility across divisions and regions. There are many opportunities within Capital Markets and throughout Lehman Brothers for individuals who are looking to be challenged in a different area of the Firm.
Mentorship Programs
| “Our focus on mentoring is one of the cultural traits that distinguishes Lehman Brothers.” |
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Our focus on mentoring — at all levels of your career — is one of the cultural traits that distinguishes Lehman Brothers. As an analyst, you have the opportunity to be paired with a mentor to help you navigate the Firm. The goal of the mentorship program is to provide you with a mentor who can offer advice and a broader perspective on your career from outside of the formal management structure, as well as help you achieve your personal career goals.
Training
Capital Markets analysts are offered a seven- to eight-week sales, trading and research initial training program, held in New York.
Instructors include both Lehman Brothers speakers and third-party consultants. The general curriculum includes the following modules:
- Overview of Lehman Brothers.
- Divisional overviews.
- Strategy.
- Culture.
- Capital markets fundamentals — accounting and bond math.
- Divisional product training in Equities, Fixed Income and Capital Markets Prime Services.
- Regulatory certification training for the NASD Series 7 and Series 63 licensing exams.
Team-building exercises and social activities also take place during training.
Your full participation in the training program is important to establishing both your technical and teamwork skills in the capital markets environment. All analysts are expected to successfully complete the training.