Investment Management Associate Program: U.S.

The Investment Management Division (IMD) associate program is a seventeen-month program, offering the maximum flexibility because it is both a generalist program and a direct placement program. Our generalist program enables you to rotate through various businesses within the division, providing you with a solid grounding for a career with Lehman Brothers. Our generalist program is ideal for candidates who are broadly interested in Investment Management. Our direct placement program enables you to be hired directly into specific business groups or regional offices. Our direct placement program appeals to candidates with very specific areas of interest.

As an associate, you can expect to work in a diverse range of jobs across three groups in the division: Investments and Research, Client Advisory and Solutions, and Strategy and Business Management.

Rotation And Group Placement Process

As an associate in our generalist program, you will participate in three three-week rotations through various Investment Management businesses. Your ultimate placement will be based on your preferences and the overall business needs of the groups.

Following these rotations, you and the business groups will each rank your preferences. Final placements are determined through a matching process and you will be placed permanently in early December.

Associates who have been hired directly onto a specific team do not rotate. Immediately after training (typically in late September), they begin working on their pre-placed team. Associates hired into regional offices also do not rotate. However, they may complete one rotation in New York if appropriate for their business group or region.

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.

The associate review process consists of one objective-setting exercise and two performance reviews in May and November. Reviews are communicated jointly by your direct manager and your program manager. Each January, you will work with your direct manager to agree upon objectives for the upcoming year. The purpose of the objective-setting exercise is to identify performance goals and to create a detailed development plan for the year.

In addition to these more formal review processes, you will also receive ongoing feedback and career guidance from your associate program manager.

Advancement Process And Timeline

After associates complete their seventeen-month program, their future advancement is up to the discretion of senior management and their respective business units. Within Investment Management, promotion to vice president is dependent on many variables, such as individual performance, level of current job responsibility, future growth potential and corporate citizenship.

Mobility Opportunities

Lehman Brothers supports mobility across divisions and regions. There are many opportunities within the Investment Management Division 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 — at all levels of your career — is one of the cultural traits that distinguishes Lehman Brothers. As an associate, you are assigned a senior associate mentor to help you navigate within the division and to help you expand your internal network.

Training

The IMD training program is held in New York. Following “One Firm” training, which provides an overview of Lehman Brothers, Investment Management (IMD) associates join their IMD analyst

 
“Our training program provides you with a solid grounding for a career with Lehman Brothers.”      
colleagues for a week and one-half of division-specific training, designed to provide you with a thorough understanding of the division and how its diverse business units work together.

In addition, IMD associates receive one week of intensive applied investment management training. Topics include:

U.S. IMD associates receive training for the NASD Series 7 and Series 66 licensing exams. This training takes place over the course of two weeks and finishes with the associates taking both exams.

Your full participation in the training program is important to establishing both your technical and teamwork skills in the investment management environment. All associates are expected to successfully complete the training.