Capital Markets Associate Program: U.S.
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. The program manager guides you through the rotation and group placement process, and monitors your career development by facilitating the feedback and review process, as well as the advancement process.
Rotation And Group Placement Process
Prior to participating in the initial training program, associates hired as generalists rotate through various desks in the Equities, Fixed Income and Capital Markets Prime Services to find a permanent position within the Firm. 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.
Once placement decisions have been made, you will participate in the initial training program, after which you will begin working on the desk in which you have been placed. From this point forward, your progress is managed by your program manager.
Associates who are placed directly into specific businesses (typically in Real Estate, Structured Finance, Public Finance and Analytics) 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 as to 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:
| “There are many opportunities within the Firm for individuals who are looking to be challenged.” |
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- Goal setting (fall of first year).
- Informal check-in (winter of first year).
- Initial performance review.
- Final performance review.
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 manager 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 managers to obtain regular feedback on your performance.
Advancement Process And Timeline
After the sixteen-month associate program, you will remain in your business and function, although 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.
Training
After receiving the “One Firm” initial training to provide you with an overview of Lehman Brothers, Capital Markets associates then enter a five-week, new hire training program that runs from early August through mid-September. Training modules include:
- 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 1 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 associates are expected to successfully complete the training.