Vault’s Verdict

UBS is looking for candidates who work well in teams, are eager to learn, and fit with the firm’s culture. The firm’s internship program offers students the ability to work alongside senior bankers, a lot of modeling experience, good training, and live deal experience. Some interns also have the ability to rotate through various positions and groups.

Full-time junior professionals at UBS are given a lot of responsibility on deals, and international and inter-bank transfers are encouraged. There is also an open-door environment; juniors have access to senior bankers. In general, work/life balance is good. Depending on their manager, some professionals even have the ability to work remotely. Though there are a fair number of policies promoting work/life balance, it can be difficult to take advantage of them when working on live deals. Meanwhile, compensation is competitive, though some insiders say benefits need improvement.

UBS has made strong inroads regarding female recruitment, and, depending on which office you work in, there are many opportunities to volunteer and give back to the community. Recently, UBS has been going through a transition, but insiders are optimistic about the bank’s future. The firm’s investment banking unit is restructuring and streamlining, while its wealth management groups remains one of the top wealth managers worldwide.

Note: The firm did not participate in our 2020 Banking Survey; all comments are from our 2019 survey.

Hiring Process

• “We’re looking for someone who is willing to learn and who works well with others in a team setting. The callback process is very quick. A video interview is followed by a Superday of multiple in-person interviews.”
• “Interview process includes a video interview followed by a Super Day. The ideal candidates are humble and eager to learn. They might not know everything right away but will be able to talk through what they don't know and reason their way to an answer.”
• “After submitting an application, you take an online screening test. After that, the first-round interview is a video interview. The second round is a Superday at the office—you’re interviewed by three senior bankers.”
• “1) Video interview: answering questions within a time limit. 2) Callback for Superday. 3) Back-to-back 30-minute interviews. 4) Job offer. The ideal candidate has to fit with the firm’s culture and values. They also must have the minimum technical/behavioral knowledge for the role.”

Interview Questions

• “Walk me through a DCF. Why UBS? What do investment bankers actually do?”
• “Personal development questions, experience-related questions, quantitative (and market-facing) questions.”
• “What’s the difference between a Monte Carlo and historical simulation? 3. What was added in Basel III?”
• “Cultural and problem-solving questions.”

Internship Experience

• “Great culture (no facetime) and great learning experience. Hours can get tough, not because of facetime but because you’re busy working on live deals.”
• “Great access to senior speakers. I learned about a broad swath of the business even though I was only in one team. I felt like I met people and formed connections that made me want to return.”
• “Good exposure to senior bankers and lots of modeling experience. Training program is good. You get actionable and honest feedback. You work on meaningful projects.”
• “You can rotate through and learn about a variety of positions. You also get to learn about a variety of products. The culture is good, and you get access to senior management. There’s a lack of transparency at times.”

Career Development

• “International and inter-bank transfers are encouraged. They are supportive of career development but could do more to discuss educational opportunities. They could also do a bit more so you could meet people at different desks.”
• “If you have the desire to learn there are a ton of different channels to choose from. We have access to Coursera and Safari. We also have a tuition reimbursement program if you’re thinking about going back to get your master's.”
• “There is an open-door environment and talks to keep everyone up to date on other departments’ work. Good rotational program. Open positions are not widely advertised.”
• “The best aspects of my firm's career development opportunities is that the teams are very intertwined across the globe. There is open communication with teams stationed in London, Zurich, Singapore, etc. This allows you to learn from many individuals at the same time and potentially opens you to international opportunities. Given this, my career has developed much due to the fact I've been given many resources at my disposal. The ‘worst’ aspects of my firm's career development opportunities would be that some teams within my business function are not alwaysproactivelythinking of what is best for you.”

Quality of Life

• “Depending on your manager, you may have the ability to work from home. This allows you to have a great work/life balance.”
• “Good work/life balance, great culture. Most of all, good ability for junior members to take on important work and feel valued.”
• “We have policies that promote work/life balance, but they are often difficult to take advantage of because of how demanding this job gets.”
• “No weekend-off policy. If you’re on a live deal, you’re working every weekend. But when deal activity calms down, things generally balance out. You can transfer five vacation days to the next year.”

Salary and Benefits

• “Salary feels a little low, but I’m part of a rotational entry-level program that gives good, broad exposure and an opportunity to continuously learn.”
• “High deductible health plan. Benefits include 401(k) and stock options and education reimbursement.”
• “We get a stub bonus after six months. You are automatically categorized into the lowest bonus bucket and that bonus is pro-rated. This incentivizes people to stay for the ‘first real bonus,’ which is paid after you work one and a half years.”
• “The health insurance is not great. We get some discounts on gyms, but the discounts aren’t that much and are at not-so-great gyms. Casual dress is implemented at a group level, so some groups have casual Fridays and some don't.”

Diversity, Philanthropy, and Green Initiatives

• “There are programs for diversity, but they could be promoted more and more ‘visible.’ There are efforts to make green initiates happen, though I wish individuals at the firm rallied more around them.”
• “Not as racially diverse as I would have hoped, but they have made some strong in-roads regarding female recruitment.”
• “We have a period of time called ‘Season of Service’ when there are multiple charity projects that anyone can be involved in. They are normally a lot of fun and a great way to give back to community.”
• “There are groups and events and lots of volunteer opportunities for people in New York.”

Business Outlook

• “Tough industry right now, though senior management is remaining positive. Employee morale seems high, at least to me (a junior).”
• “Lots of restructuring and turnover.”
• “The environment for European banks remains weak. Recent reshuffle will require execution.”
• “The investment bank is downsizing and restructuring; global wealth management is one of the best in class.”