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UBS fucked over half of their 2022 intern class who had signed return offer contracts and were supposed to start in July 2023.

Less than a month before the July 2023 class was supposed to start (and after everyone had already signed expensive leases in NYC), they deferred the employment start date of half of the group by seven months to July 2024. How did they decide who to defer? Allegedly these decisions were primarily made by HR and were based on citizenship status/visa, with non Americans favored (aka zero internationals were deferred). 

The deferred class finally started in February 2024 (7 months later). The group that started in July 2023 was generally promoted to associate by July 2025, while the deferred class was told they had to work 2.5 years instead of 2 for the associate promotion.  So the deferred class missed out on 7 months of analyst comp and now is a full year behind in salary for the rest of their career. 

tldr: UBS recently didn’t honor their signed return offers for half the analyst class :) 

 

Allegedly for the spots removing that could hold Americans HR used the fucking random function on excel

 

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