Pros
Neuberger's culture was one to envy among money management firms prior going public and then subsequently being sold to Lehman Brothers in 2004. They valued advancement, work and home life balance, and teamwork, especially in IT. Many Neuberger Berman employees have either been with the company for many years, or have returned after segregating from Lehman Brothers / Barclay's in 2009.
Cons
Unfortunately Lehman's culture pervaded Neuberger post market crash of 2008 with many of the senior management piggy backing off of NB's survival. In my opinion, they brought a lot of Lehman survivalist management practices, rewarding loyalty and relationships over merit, and there is a sore lack of innovation in IT. All processes, architecture, and cover your ass attitude was inherited directly from Lehman which doesn't make for a very creative or collaborative environment.