I've officially committed to UBS's IBD as a 1st yr analyst -- I'm psyched. Now comes Sell Day and meeting/ranking all the groups. What advice can you all give regarding this process, be it @ UBS or in general??
These are my thoughts: As a first year, I'd definitely want as much modeling experience as possible -- M&A is naturally my first choice. There are certain industry groups that are intriguing, but I fear that at some of them I'll merely be editing powerpoint slides than getting elbows deep in the model.
So, whether you have an idea of UBS's reputation here or there, or just have general BB Sell Day pointers, what should I think about when ranking groups? Which groups should I absolutely stay away from??
Healthcare at UBS NY is a top group on the street.
When is your sell day and how does placement work for the first years?
Rank LA as your fist choice. It's their best group and top-3 on the street.
...all of the alumni I know seriously implore me not to join, for two primary reasons: - There are first year analyst hours...but then there are Healthcare first-year hours, and it's another echelon. Frequent 20 hour days. Seriously. - Surprisingly little modeling work done by the analysts ... most of it gets shoved to the M&A analysts
My sell day is next weekend -- what I'm told is that I'll have the opportunity to meet with several groups to get a feel, and then rank EVERY group in the bank from top to bottom. I've been told it's really similar to rushing frats, because your preference is only part of the equation.
You can't rank LA as a group..they do their own recruiting. You only rank for NY based groups.
If you don't want to do the hours, stay away from healthcare. I'd also stay away from tech and telecom (not particularly strong groups)
I'd go towards M&A/Financial Sponsors/consumers/Industrials. Best mixture of experience/lifestyle (except for M&A).
That's roughly exactly what the top of my list looks like right now -- sans GIG (heard horror stories...basically told straight up to stay away)
...Any knowledge of the last of the TMT trifecta (media)?
GIG has been rough the past few years (especially interns), but I think upper management knows about this and is trying to hire some more guys.
Media is decent, but not especially strong.
UBS LA gets a lot of respect because of former King-of-DLJ Kenny Moleis banks there.
As a 1st year, you go for about 1.5 months of training and meet the bankers during training you rank the groups you want and they rank you. The coverage groups do a lot of pitching and not a lot of execution (except FIG and Sponsors).
The best groups at UBS:
Tier 1: M&A, Healthcare Tier 2: Sponsors-LevFin (combined group), Industrials, Consumer (Blair Effron-less) Tier 3: All others
Ofcourse, I'm biased :-)
Chem undergrad... then did corp. finance.
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