UBS WM Graduate Training Program vs. JP Corporate Development Program
Hey,
I recently got an offer from UBS for the the Wealth Management Graduate Training Program in Weehawken, NJ. It's a technical position (because I'm computer science), so we'll be doing two years of rotations (with each rotation lasting 6 months). Has anyone gone through this program/is in the program now/know anything about this program? Would you recommend it?
A little about my previous work background: I worked at Merrill Lynch two summers ago in Global Wealth Management, and this past summer I worked at JP Morgan Chase in Private Bank technology, in Newark, Delaware.
I did get a return offer from JP for the Corporate Development Program (Tech), in Delaware... If I go back to JP, I'll probably be working in investment bank technology (what specific team, I don't know yet). The CDP lasts for two years, and we won't be doing rotations (unless you happen to be in Chase card services, which I won't be), just direct hire.
Any thoughts as to where I should go?
UBS and GWM are favorite flame topics around here. A 2 year rotational program seems like a good idea. Do realize that UBS's reputation was hurt badly with their tax evasion issues. GWM/PWM especially. You might want to consider the JPM offer simply because of the better name and more secure bank. Any big salary differences?
salary difference is about 10k (UBS on the higher end, although that may be because it's in NJ, and JP is in Delaware). I also got a bit more relocation bonus from UBS than JP... no idea about how the bonuses at the end of the year will work though :)
What is your preference? GWM is going to involve sales, sounds like JPM wont interact with customers. I wouldn't let the money be the main factor in your decision. In a couple years whatever difference in salary there is will be eliminated.
Well, actually I'll be in the programs in the technology side .... I don't think I'll be working in sales or anything like that at all. The job description at UBS seems a lot cooler (rotations in different areas, like project management, software development, business analysis, etc.) Money isn't really the main factor because overall considering the two places' living standards, I think it equals out. I'm just wondering about the work that I'd be working on, and if anyone knew what the UBS culture was like...
From what I've read in the news, JP Morgan is doing a lot better financially than UBS, especially here in the US. Seems like everything I read about UBS in the US (tax evasion, etc) sounds pretty bad. However, I did work at JP Morgan over the summer in Delaware, and I wasn't particularly impressed by the culture there, especially how they view the tech people. Seems like if you want to be at JP Morgan, IB is where it's at. At the same time, I don't know if I should let how a company is doing to be a main factor in my decision making either...
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