Investment Banking Associate Program: Europe
The Investment Banking Division (IBD) associate program is a three-and-one-half-year program in which you are trained, placed in a business and developed professionally on an ongoing basis.
The IBD associate program targets candidates with a high level of academic, professional and leadership achievement, who are able to withstand the rigors of a rapidly changing and demanding, but ultimately rewarding, environment. In return, we strive to provide you with exceptional professional exposure and the opportunity to work with some of the most talented bankers in our industry.
Group Placement Process
As a new associate, you will attend a series of group presentations and networking events during the initial training program. These events provide you with the opportunity to learn about each group and meet bankers from the different areas. Your program manager then places you in a group by matching your preferences and skill set with the specific business needs of the groups. Permanent placements are finalized and communicated in September.
Feedback And Review Process
The purpose of the review process is to provide you with relevant feedback on your performance, as well as advise you on what you need to do to get to the next level. IBD associates are formally reviewed every six months.
The IBD associate review process includes the following stages:
- Winter review (January of first year, encompasses the period between the start of the program and the end of the prior year).
- Mid-year performance review (every year).
- Year-end performance review (every year).
- Year-end objective-setting.
During the year-end performance review, you will work with your managers to identify performance goals and to create a development plan which includes objectives for the upcoming year. These objectives are then reviewed at the end of the year.
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
At the end of the program, if your performance is consistently outstanding, you will be eligible for promotion to director. Your relevant business unit heads and divisional senior managers make advancement decisions as a team based on your performance, level of responsibility, future growth potential and corporate citizenship, among other factors. Our system of regular feedback and performance reviews helps ensure that you always know where you stand.
Mobility Opportunities
Lehman Brothers supports mobility across divisions and regions. There are many opportunities within the Investment Banking Division and throughout Lehman Brothers for individuals who are looking to be challenged in a different area of the Firm. Geographic moves are common and encouraged.
Mentorship Programs
| “Our focus on mentoring — at all levels of your career — 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 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, as well as help you achieve your personal career goals.
Training
Regardless of the region or office in which you will work, the program begins each summer with four weeks of initial training in New York. This initial training introduces you to the Firm and our uniquely team-based approach while reinforcing the skills that will be vital to you as an investment banker.
The specific training modules include:
- Advanced accounting.
- Corporate finance/valuation.
- Financial modeling.
- Taxation.
- Fixed income.
- Equity product analytics.
- Investment banking group overviews.
In addition to classroom training, you will receive assignments and attend a series of social events we have arranged to facilitate networking and interaction with your peers.
After the four-week training, Europe IBD associates return to London for two additional weeks of training to include advanced European accounting, computer applications training and preparation for the Financial Services Authority (FSA) examination.
Your full participation in the training program is important to establishing both your technical and teamwork skills in the Investment Banking environment. All associates are expected to successfully complete the training.