Both of these banks are ailing...Which full-time offer for New York IBD would you accept and why?
Considering the unstable ground on which both IBD departments rest, which offer would you take at the current moment?
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They seem to be in better shape then Lehman, but take this comment with a grain of salt.
do you have any idea which groups you'd be joining at either bank?
Not sure which group, but which firm offer would you take given the current environment?
honestly, I'd take lehman. i'm going based off of what my friends at each firm tell me about the culture - pm me if you like
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But given Lehman is in so much trouble right now, you would still take Lehman over UBS?
taking a job with lehman right now is like taking a job with bear back in february... actually, i remember a thread like this around that time--the consensus was that the poster in question should go to bear b/c of culture blah blah...
whatever. it's a risk. if you're comfortable gambling (although id be damned if i knew what the added upside for the risk would be), then go to lehman. otherwise, go to UBS. nobody can tell you for sure if you'll still have a job come whenever...this board is not going to help you predict that.
met with bankers at both, UBS seems like more fun to work at.
I agree, xqtrack. At the end of the day, it's all about risk-weighted return, and when you add in the added risk of taking the Lehman offer, the negligible "prestige"/"culture" upside, just isn't worth the risk.
Lehman seemed very cool, but I think I built up so much goodwill over the course of the summer, and have a better chance of getting into a group that I want with UBS, given that I interned there this summer.
Too bad that Lehman may not suvive...
def. UBS over lehman. theres a good chance LEH may go under
UBS is not in as much trouble at all - they will never go under.
You do speak Korean don't you?
Why would I speak Korean?
So votes are = UBS 4 Lehman 2
Worst case scenario at UBS ... you're business card says Barclays or HSBC in 2 years.
Worst case scenario at LEH ... you're business card says Scottrade in 2 years.
Best case scenario for both, times get better in 2 years and you move to a better bank.
hahaha. yeah Lehman isn't the best choice right now. I say go with UBS. They have a better chance than Lehman does.
He's making a crack about news of the Korean Development Bank or other Korean banks buying a stake (rumored 25%) in Lehman Brothers.
Also out of curiosity, you interned at UBS this summer, and you somehow have an FT offer from Lehman Brothers?
Or is the Lehman Brothers part entirely hypothetical?
The Lehman Bros. offer is real. I have 2 offers - one from UBS, one from Lehman.
westernwild... go to lehman shoot for a solid group there... nat res, fig, cmg
lol. I think UBS seems to be a place that I've head good things about.
It really depends on what you want to be doing in a few years honestly. At least, I think so.
at this point in time I would really say stick with UBS if you want to stay on the "safer" side. Not long ago I would have said Lehman though...funny how fast things can change.
UBS won't fail. LEH may. Go with UBS. However, UBS has its own worries but I do agree that the worst thing that can happen at UBS is your business card changes names in a few years.
yeah, at least you will still have a business card with UBS lol
Lehman in a heartbeat.. I've consistently heard great things about the culture there. Despite all the bad news, every bank will get its turn and it's really beyond your control. Not sure where you interned, but base your decision on your experience with the people you worked with.
The only problem is that this might be Lehman's last turn.
Hey WWO,
Hope you made the right choice, if not . . .
http://www.scottrade.com/careers/index.asp
hey all of you people who said LEH.... see ya
Hope this humbles some people who seem to have too much hubris and surety of their predictions.
With that said, UBS hasn't done exactly perfect either (after all, largest writedown of all bulge brackets), but there's been some good resulting from our honesty. Who knows what will happen, but atmosphere within the firm direct to a positive future. Just have to try to look past our writedowns and focus on the future. What the landscape will look after this quarter is certain to be interesting. Which of the bulge brackets from yesterday will still remain?
Good luck to all the Lehman and Merrill banker.
i agree.. its pretty ridiculous really ridiculous weekend with alot of shit people didnt expect
guys, hallmark of a good investor is that they're able to admit when they've been wrong and change the course as necessary.....
I made the wrong call on lehman, but I think we're all pretty amazed by how fast this has gone down which of the chinese philosophers coined the phrase: 'the curse of living in interesting times'?
Well, interestingly, the Lehman offer ultimately converted into a Barclays offer, however I went ahead and accepted with UBS. Only time will tell if this all turns out well. Good luck to everyone. I wish the best for you guys in this ridiculous environment...
ouch, definitely would take Barclays - UBS might be next.
I'm with ratul. As it stands I would have taken the Lehman/Barclays offer
UBS is fully backed by the Swiss government. I'm pretty sure they have a low chance of going under, if that is what you're referring to.
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