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Lehman Brothers Query

Vishnu Jain
Greenhorn

Joined: Jul 11, 2006
Posts: 2
Hi Guys,
I have got 7 years of experience in IT industry.I have a offer from lehman and they are offering 9.5 L fixed + 50k signing bonus + (10%-15% of fixed as annual bonus)

Currently I am based in New Delhi..Is it a good move ?
What are work timings in Lehman Brothers ?
Are there any overseas opportunities ?
How is the management over there..I hope it is not in the hand of some new bees those are still learning how to do business in India ?
Do they encourage you to do MBA ? or is there any scope to shift to Investment Banking side..

Any Comments..
Mav Ricky
Ranch Hand

Joined: May 19, 2004
Posts: 76
there are no as such onsite opputunitie as all the projects are in house .for 7 years 10 lakhs is less .they have got new set up so definitely chances are bright to grow
Mohan Karthick
Ranch Hand

Joined: Apr 11, 2005
Posts: 199
seeing the relocation...offer is less
alfred jones
Ranch Hand

Joined: Apr 19, 2005
Posts: 279
could you please tell us the approx salary break-up ?

there are some companies who boasts of high CTC but take home is very very less..

BTW, the offer seems not proportionate in delhi....its costly place..
Ashish Murthy
Greenhorn

Joined: Jun 14, 2006
Posts: 18
Hey,

What is the role that they are offering you ?
What is the typical career progression for that role?

That could also be a deciding factor.

How was the interview like- was it technical or more in terms of project mgt.

thanks,
Ashish
Anjali Shah
Ranch Hand

Joined: May 17, 2006
Posts: 41
Hi,

I joined Lehman 2 weeks back.. I have close to 3 yrs of experience..

I am not keen on disclosing my package so please refrain from asking but I find yours lower to what I imagined it should be... maybe you should negotiate more..

There are no overseas oppertunities as such.. All projects are in-house and there is a remote chance that you will go abroad for few weeks for requirement gathering..

I am liking it a lot here.. People managing this place are awsome.. its still growing so AMPLE oppertunities to grow with it.. and unlike and IT services company, this is an Investment Bank so you wont be sorrounded by Java/.net people all the time but will get to meet people from other backgrounds. Also, you will get to see the real business happening behind your code and also get to understand it better..

The trade off is almost no travelling oppertunity and in your case relocation is also an issue.. With the kind of salary you are being offered, I dont think relocation makes sense.. you will get simmilar/better offers in Delhi itself!!

Hope this helped..
Anjali Shah
Ranch Hand

Joined: May 17, 2006
Posts: 41
About timings... mostly everyone comes 9AM- 6PM unless there are specific project requirements..

About MBA, the company does not cover full time courses but other courses/certifications that you do while working are reimbursed if you clear your exams..
Manju Sharma
Greenhorn

Joined: May 10, 2006
Posts: 24
vishanu,
your package is ok because It doesn involve hidden benefits. I mean you will get 10 lacs/annum-tax. second point is working environment is fairly cool here...you can leave office by 6 oclock....
if you make average of salary of 3 years here...your package may cross even 20 lacs....
they provide you conditional equity awards which you can sale after 3 years only
all the best...which division you are joining?
Kuvempu Puttappa
Ranch Hand

Joined: Apr 04, 2006
Posts: 87
Originally posted by Manju Sharma:

all the best...which division you are joining?

In which division do you work ?

Rish Jain
Ranch Hand

Joined: Mar 22, 2006
Posts: 85
I guess you should priortise your choices. If you wanna go onsite, better look for infy/wipro/tcs but package wud be less there. But if you are looking for a company where you would like to stay for longer (more than 3yrs) LB is the company for you.

You wont get onsite opportunity in LB but u will get better facilities than any other company and you would feel proud to be an employee of LB.
Vishnu Jain
Greenhorn

Joined: Jul 11, 2006
Posts: 2
Hi Guys,

Thnaks for your inputs..I know LB will be a good brand to have it on my resume.I am sure it will help in long term.
Some more queries do they allow you to access yahoo mail ..msn etc..as I know these investment firm are really strict about their data security..
I will try to negotiate more on the salary terms with them.Even I am shocked to see why they are sounding stingy about the salary.
I am offered as senior developer role over there..thanks
Manju Sharma
Greenhorn

Joined: May 10, 2006
Posts: 24
Vishnu,
sorry pal, you wont be allowed here to access external mail engines. Internet access is quite restrictive. If you are bachelor then LB gona pose great prblm for you as shadi.com with other materimonial sites are also blocked.

Bana Shankari,
I am working in portal engineering team for ETS division in LB.
Unni Mistry
Greenhorn

Joined: Jul 19, 2006
Posts: 2
Hello frnds,
I have an offer from Lehman for a Senior Developer. and am given the EQIT division. Can anyone please tell me what kind of projects are involved in this division ?
Manish Hatwalne
Ranch Hand

Joined: Sep 22, 2001
Posts: 2579

Is it really possible to get 20 LPA in LB for 7 years expereinces? What are the chances that they will pay 15 LPA or more???

- Manish
Manju Sharma
Greenhorn

Joined: May 10, 2006
Posts: 24
Unni,
dont join EQIT for work. These guys are just running shell scripts & doing maintainence work in java core...
Anjali Shah
Ranch Hand

Joined: May 17, 2006
Posts: 41
Hi Manhish!

Although Lehman is one of the best pay masters, it seems highly unlikely that they will pay 15LPA + to an IT person with 7 years of expr unless they feel that the person will bring some extrorinary value to the organization..

The general perception about the company in this forum seems to be like you name it and they will pay what ever to get you. But I have seen many instances where they have rejected candidates even before interviews on seeing their expectations and also declined to negotiate when the candidates asked for more after getting the offer letter...

Hope this helps!
[ July 19, 2006: Message edited by: Anjali Shah ]
Manish Hatwalne
Ranch Hand

Joined: Sep 22, 2001
Posts: 2579

Originally posted by Anjali Shah:
Hi Manhish!

Although Lehman is one of the best pay masters, it seems highly unlikely that they will pay 15LPA + to an IT person with 7 years of expr unless they feel that the person will bring some extrorinary value to the organization..

The general perception about the company in this forum seems to be like you name it and they will pay what ever to get you. But I have seen many instances where they have rejected candidates even before interviews on seeing their expectations and also declined to negotiate when the candidates asked for more after getting the offer letter...

Hope this helps!

[ July 19, 2006: Message edited by: Anjali Shah ]


Yes, it does help. I only asked because you mentioned this earlier "but I find yours lower to what I imagined it should be" and someone else mentioned 20 LPA, though jokingly I'd imagine.

I am already drawing well, so if I consider switch -- it has to be good offer or very good opportunity in terms of onsite or some good work. LB I believe are doing some good products and from what I have heard, I like the company (except internet ban though), so just wondering or trying to understand how much they would pay a person with 7 years total expereince in 4-5 years Java/J2EE exp. Technical screening is not an issue for me.

- Manish
Anjali Shah
Ranch Hand

Joined: May 17, 2006
Posts: 41
There is no internet ban per se.. but yes all mailing sites / groups / messengers are denied access..

I am very new to the place but I am finding it promising in terms of the value addition that can come to my profession. It�s not Java/J2EE or I should say "technology" that is the pivot here but it�s their business... And for me this is a welcome change!!

Also, I am sure LB will pay at par, better or a LOT better salary than others in the market depending on what you can bring to the organization... I didn't negotiate in my case but I heard later that some people got joining bonus or 20-30K more but I guess that's okay.. I am not good at haggling about money and moreover they paid me just what I asked.. But since I do not have data to support it, this could be wrong information or the people concerned had some thing better in their profiles!

I don't know if I am conveying things properly but I do hope it helps people in the ranch!
Kj Reddy
Ranch Hand

Joined: Sep 20, 2003
Posts: 1704
What is the selection process in LB? I heard that before interview they ask to take Brainbench certification. Is that correct?
Sunny Raina
Greenhorn

Joined: Aug 06, 2006
Posts: 2
Hi Anjali
i have been offered a developers role in ETS . Can you please lemme know abt the kind of work being carried out there ???
Also wat is the amt of exposure to Financial Domian in ETS ? If very less Can i ask for a shift to another BU

Regards
Sunny
Anjali Shah
Ranch Hand

Joined: May 17, 2006
Posts: 41
No they never ask for any Brainbench cert..
There is a written test for junior developers followed by interview rounds.. Its no different from other places..

I dont know any one in ETS but from what I have heard from other people, they do good work but domian exposure is low.. Its not easy to change the business unit once you have joined. You have to stay in the unit for at least a year so I would suggest that you request for a different unit before joining itself (in which case they might interview you again)..
 
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subject: Lehman Brothers Query