ANOTHER LIGHT JET FLT CREW IS CAUGHT OFF GUARD BY THE RAPID FIRE NATURE OF THE TEB 5 DEPARTURE; EXCEEDING THE INITIAL 1500 FT RESTRICTION BY 500 FT.

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CREW WAS CLEARED VIA THE TEB 5 DEP; WHICH REQUIRED RWY HDG UNTIL 1500 FT THEN RIGHT TURN HDG 280 DEGS; MAINTAIN 1500 FT UNTIL PASSING 4.5 DME; THEN CLB AND MAINTAIN 2000 FT. BOTH PLTS WERE RELATIVELY INEXPERIENCED IN SEAT; WITH THE FO NEW TO THE COMPANY; NEW ON TYPE AND NEW TO THE ACFT. THE CAPT WAS FLYING AND ALTHOUGH BOTH CREW HAD BRIEFED AND DISCUSSES THE DEP PROC; WHEN THE RIGHT TURN WAS MADE AT 1500 FT; THE ACFT CONTINUED THROUGH THE ALT TO 2000 FT. CONTRIBUTING TO THIS DEVIATION WAS THE AUTOPLT WHICH DID NOT CAPTURE THE SELECTED ALTITUDE OF 1500 FT AND UNFAMILIARITY WITH THE ARPT AND PROC. BOTH CREW MEMBERS REALIZED THE ERROR PRIOR TO REACHING 2000 FT. HOWEVER; THE WORKLOAD IN THE SHORT TIME BETWEEN TAKEOFF; TURN AND LEVELING AT 1500 FT PRECLUDED THE CREW FROM EARLY RECOGNITION OF THE DEVIATION. THE DEP CTLR BROUGHT IT TO THE CREW'S ATTENTION AT ABOUT THE SAME TIME THAT THEY WERE LEVELING AT 2000 FT. ALTHOUGH THERE WAS NO CONFLICTING TRAFFIC AT THE TIME; THE CTLR POINTED OUT THAT BECAUSE OF HEAVY TRAFFIC IN THE OVERLYING AIRSPACE THIS COULD HAVE CAUSED A POTENTIAL HAZARD. HE ALSO STATED THIS WAS A COMMON ERROR; BUT THAT HE WAS TAKING NO FURTHER ACTION IN THIS CASE. THIS PROC; ALTHOUGH VERY BUSY; IS CONDUCTED MANY TIMES A DAY AND SHOULD HAVE BEEN READILY COMPLIED WITH HAD THE CREW'S SITUATIONAL AWARENESS AND FAMILIARITY WITH THE PROC BEEN MORE ATTUNED TO THE WORKLOAD AT THE TIME.