Overview
Introduction
Lazard is one of the world’s most prestigious investment banking firms. Its well-known mergers and acquisitions group has advised on some of the largest, most complex deals of the past 100 years. Lazard’s excellent internship program allows interns to work on live deals alongside senior bankers and clients. Lazard excels at mentorship and individual development, giving its full-time bankers clear guidance on their strengths and areas for development. Lean deal teams offer a lot of responsibility.
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Vault Verdict
One of the most prestigious financial advisory and asset management firms on Wall Street, Lazard is looking for intellectually curious, hardworking, motivated, and entrepreneurial self-starters with the ability to learn quickly and succeed in a fast-paced environment. The firm runs a rewarding internship program for students, offering interns live deal experience, access to senior bankers and clients, and an overall accurate picture of a what a full-time position with Lazard looks like. Meanwhile, the firm’s full-time junior bankers have access to top-notch informal and formal training, valuable mentoring relationships, tons of high-quality live-deal experience, international opportunities, and early promotion opportunities.
Lazard supports a productive work/life...
About the Company
Founded in 1848, Lazard has advised on some of the most significant mergers and acquisitions in Europe and the Americas since the beginning of the 20th century. The firm's modern history can be traced to the year 2000, when the “three houses of Lazard” in New York, Paris, and London formally united as one partnership. The firm went public in 2005 and today is one of the world’s most prestigious financial advisory and asset management firms, with offices in more than 35 cities across the world.
The firm employs more than 3,000 people globally and is led by Peter Orszag, its CEO. Orszag, who succeeded longtime Lazard CEO Kenneth Jacobs in October 2023, previously served Lazard as CEO of Financial Advisory, Head of North American Mergers & Acquisitions, Global Co-Head of Healthcare, and Vice Chairman of Investment Ban...
Employee Reviews
“Lazard has been incredibly supportive of my quality of life. One thing that has surprised me is how clear my MDs are on expectations regarding weekend work. I have never once been questioned whether or not I should work over the weekend or stay late on something—members of deal teams at all levels will make sure to communicate to me if something is not urgent. And people like to make sure that very late-night work or weekend work is focused on live client engagements. Additionally, people are sure to ask about my other deals so they know how much work I can handle. I have never felt like I can’t take vacation—if anything, I was encouraged to take vacation after I hadn't taken it for a while.”
“While Lazard has all the formal bells and whistles to support a productive work/life balance, most important is that the senior leaders are human and respond organically to individual employee's needs for personal time. This culture creates a safe environment to cultivate high-performing teams that are flexible to personal wants/needs. The firm has also been consistent with the research and its policy on a hybrid work environment, which I think is the best on the Street: three days in the office each week, so folks are seeing each other, collaborating, and socializing while also getting two days for more flexibility. There is also the ability to take a 30-day remote month each year, so folks can enjoy more extended stays in other geographies.”
“In general, it’s a leaner org, and there is very little internal bureaucracy, so almost all one’s time is spent on clients and content and getting the job done. Individuals are given flexibility to work from anywhere they need to be and be in the office as much as and whenever needed, as long as they get the job done. Probably the best perk is the combination of the hybrid work schedule (Monday and Friday are optional WFH) and the month work-from-anywhere policy. These are value adds that dramatically increase the quality of life working at Lazard.”
“Engagements are extremely interesting, and from a very early point in your career, you will have a ton of responsibility and will be intellectually challenged. This leads to exciting fast-paced days, but I still work a ton of hours two years into the job. Given this job is client services, I’m not sure if that will ever change. However, working hybrid (M/F WFH, T/W/Th office) definitely helps in that regard. Although I will still work fairly late most nights, I feel like the flexibility to do so in the office or at home makes it bearable. Also, the hours I work (and the work/life balance and my vacation) is heavily dependent on projects. So, if a project is very demanding, all of those factors are on the bad end. If a client allows us to run the process freely, it’s not so bad.”
Getting Hired Here
“Lazard looks for intellectually curious, diligent, hardworking, and social people. You have to be communicative and at the same time be willing to deeply focus on your work. You should be able to take on a lot of responsibility, but not just have that handed to you—everyone in my team is encouraged and reminded constantly that we should always be looking to play up and take on extra responsibilities.”
“The ideal candidate we seek is someone capable of operating in a collaborative team environment but with enough enterprising nature to run independently at tasks. A decent weighing factor is the cultural fit of a candidate (a/k/a the Airport Test). Prior to first-round phone screens, candidates have coffee chats with junior bankers. After first rounds, there are chats with more senior bankers and then a Superday.”
“Looking for highly intelligent, motivated self-starters willing and able to learn quickly and thrive in a fast-paced environment. It’s also important to be entrepreneurial, as Lazard is more of an entrepreneurial firm.”
“We test for intellect and analytical thinking, assessing whether candidate displays logic and is intellectually curious and mentally sharp. We’re looking for someone who shows passion for investment banking and understands what sets Lazard apart from its competitors. We need to test for whether the candidate demonstrates knowledge of basic corporate financial and accounting concepts. You also need to demonstrate good presentation skills and presence (showing that you can capture attention) and display organized expression of thoughts. Finally, we look for someone who manages risk, is collaborative, has a strong ethical compass, and would excel at being a team player.”
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