The shear strength, intermetallic compound formation, and failure mechanism of high-lead solder (5Sn–95Pb) bump on flip chip under bump metallurgy, Al/Ni(V)/Cu, were investigated after thermal cycling, multiple reflow, and high-temperature aging. Two kinds of intermetallic compound, Cu3Sn and AlxNiy, were found at the interface. The Cu3Sn was formed between the solder and Ni(V) layer while AlxNiy was formed between Ni(V) and Al layer. The formation of the Cu3Sn compound will not affect the shear strength, 27–30 g, of the solder bump even after a high temperature long time aging test. However, the shear strength after the 30th reflow drops to less than 25 g, ascribed to the formation of a brittle compound, AlxNiy. The failure modes of the solder bump upon shear test were also discussed.