Capital Markets Associate Program: Europe
The Capital Markets associate program is a sixteen-month program in which you are trained, placed in a business within Capital Markets (unless directly placed) and developed professionally on an ongoing basis.
As a new associate, you are assigned a program manager who carefully manages your career development while you are in the program. Your 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
After the initial training program, associates hired as generalists rotate through various desks in Equities, Fixed Income and Capital Markets Prime Services. This process enables you to explore different roles and functions within the three divisions.
Following the rotation process, you are asked to rank the desks in order of final placement preference. Placement decisions are finalized by the heads of Equities, Fixed Income and Capital Markets Prime Services and are based on overall business needs and your preferences.
Associates who are directly placed into specific businesses do not go through the generalist rotation process. These associates begin working in their groups immediately after completing the initial training program.
Feedback And Review Process
The purpose of the review process is to provide you with relevant feedback on your performance, as well to as advise you on what you need to do to get to the next level. Capital Markets associates are formally reviewed every six months.
The Capital Markets associate review process includes the following stages:
- Goal setting (fall of first year).
- Informal check-in (winter of first year).
- Initial performance review.
- Final performance review.
All associates work with their managers to complete a goal-setting plan. The purpose of this 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 manager before your formal performance reviews. Program managers collect this feedback and then meet with you to informally discuss your performance on the desk.
The best feedback, however, is provided on the job. We encourage you to work with your business managers and colleagues to obtain regular feedback on your performance.
Advancement Process
After the sixteen-month associate program, you will remain in your business and function though you will technically exit the program. Ongoing performance and management of the advancement process will then transition to the human resources generalist for your respective business.
Mobility Opportunities
Lehman Brothers supports mobility across divisions and regions. There are many opportunities within the Capital Markets Division and throughout Lehman Brothers for individuals who are looking to be challenged in a different area of the Firm.
Mentorship Programs
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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 associate, 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, and help you achieve your personal career goals.
Training
After receiving the “One Firm” initial training in New York to provide you with an overview of Lehman Brothers, Europe Capital Markets associates then return to Europe for a three-week new hire training program. Training modules include:
- Capital Markets fundamentals — accounting and bond math.
- Divisional product training in Equities, Fixed Income and Capital Markets Prime Services.
- Training for the Financial Services Authority (FSA) regulatory 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 associates are expected to successfully complete the training.