Mid-Level UBS Departure for another BB (Grass Isn’t Greener…)
Recently left UBS in the last year for a bigger US-based peer, sharing my thoughts given how this forum seems to obsess over UBS updates. I was at a strong coverage group at UBS, and moved to a group within same sector - not providing any more info as I have no desire to dox myself. I was not one of the Barclays > UBS joiners.
Despite what this forum says (there genuinely MUST be a super disgruntled employee who has Claude just spewing UBS content onto WSO), I actually didn’t hate my time at UBS. Especially now that I have had several months to compare at a firm where I was convinced the grass would be much greener. Reality is, from a day to day and week to week perspective, it is pretty much the same exact sh!t.
Some analysts I work with are great, but there are just as many underwhelming performers here as at UBS. I expected a quality bump given the move up-market, but I have been sadly mistaken. Same with most of the senior team - some MDs are great, but there are also still quite a few that fall between “meh” to “nightmare fuel” for various reasons. I will admit that the middle 50% MD here is better than the middle 50% at UBS, but it is really the same % of seniors that you actually WANT to work with. The difference is there is simply a bigger team on the larger platform, so that % allocation results in more headcount that lands in that bucket.
The main differentiation is the client base, I now spend much more of my time working with the larger strategics and the big corporates, which I spent far less time with prior. UBS is obviously heavily skewed towards the sponsor-backed universe given the strength of levfin/sponsors and the lack of BS appetite to do any legitimate corporate deals. The M&A group is the single biggest difference thus far - the quality across the team is a step up given how much more sell-side work we get vs. UBS.
As far as the single most important factor in banking - compensation, still TBD. I got paid pretty well at UBS, bonus each of the last few years was at 85-110% of comp. From what I have read online prior, that is about the same average ballpark at new shop - hoping to hit the higher band next year but assuming it will be about apples to apples this year given the move.
In summary - banking is banking, especially for any BB NYC group. We are all in a highly commoditized business, expecting your life to change drastically because you landed at UBS vs. JPM vs. GS vs. Jeff vs. Blair vs. Evercore vs. (insert X firm) is just drinking the Koolaid. I am glad I made the move, if for no reason other to smell the grass in the other yard I dreamt about for a few years. But is the grass really that much greener here vs. prior? Eh…
I probably won’t make another move across firms until MD and I get some garden leave in return for it. Unless you are truly unhappy with your life, I would venture to say most people already with a decent job in IB who are mostly satisfied are probably better off staying at their current firm vs. going thru the headache of recruiting out. Just sharing my thoughts for others (can’t wait for the anti-UBS bots to find this and spam sh!tpost onto it)
Based on the WSO dataset, your experience perfectly captures what many seasoned bankers eventually realize - the grass isn't always greener, and banking fundamentals remain consistent across most platforms.
Your observations align with several key themes from top-rated WSO content:
The Reality CheckThe "greener grass" phenomenon is incredibly common in banking. As one WSO member noted: "Someone will always be doing better. At this point you either need to accept your position or make a move, but the cycle never ends." Your experience validates this - moving from UBS to a larger BB didn't fundamentally transform your day-to-day reality.
What Actually MattersYour insights highlight the real differentiators between firms:
Client Mix: You're now working more with large strategics vs. UBS's sponsor-heavy focus - this is a legitimate operational difference that impacts deal flow and experience quality.
Team Scale: More headcount at larger platforms means more quality people in absolute terms, even if the percentage distribution remains similar.
M&A Quality: The step-up in sell-side M&A work represents genuine skill development opportunities.
The Compensation RealityYour 85-110% bonus range at UBS aligns with market data showing competitive compensation across BBs. The expectation that comp will be "apples to apples" reinforces that pay bands are fairly standardized across peer institutions.
Strategic TakeawayYour conclusion is spot-on: "Unless you are truly unhappy with your life, most people already with a decent job in IB who are mostly satisfied are probably better off staying." The recruiting headache often outweighs marginal improvements.
This perspective is invaluable for analysts and associates contemplating lateral moves. Sometimes the best career move is optimizing your current situation rather than chasing perceived upgrades that may not materialize.
Thanks for sharing this honest assessment - it's exactly the kind of real-world insight that helps others make informed decisions.
Sources: Be wary of greener grass; there are always tradeoffs..., https://www.wallstreetoasis.com/forum/investment-banking/feeling-like-i-could-have-done-better?customgpt=1, Be wary of greener grass; there are always tradeoffs..., UBS ADDRESSING GS SURVEY..RIDICULOUS, Is the grass greener or should I be more content?
Fake personas to market UBS IB? Congrats on UBs!
Found the anti-UBS bot, surprised it took you a full 10+ hours! Whichever fired ex-UBS analyst made you really needs to make some improvements
Btw it’s incredibly weird timing that the same exact minute of your reply I got hit with 4 different MS…it’s pretty pathetic you clearly have 4 different accounts set up on WSO just to do this.
You know that farming silver bananas reposting the same UBS hate comments doesn’t actually convert into cash, right? I get you never got a good bonus at UBS, but there are way better ways to make some extra cash
For everyone throwing MS, how about you actually engage on your rationale for where I am wrong? Honestly its wild to see so many people who clearly have no knowledge at all on either firm I am at try to say this is somehow inaccurate. Meanwhile I have 7+ years of experience, have friends across the street at BBs, EBs and MM banks plus the full spectrum of sponsors, and can actually comment on the differences after a few months at the new shop. Yet somehow, some anonymous egg who is a 1st or 2nd year associate thinks they know better?
I dare you to comment again, you are so full of shit that the entire community Monkey Shits accordingly. UBS is now a Monkey Shit Bracket bank, and all the monkeys out there know.
This is insanely cringe. What kind of 2nd year associate spends their entire time stalking any UBS mention? Go get a life, or a job - either way its clear you have neither
Wild how your takeaway from the post is that I am somehow a huge fan of UBS. I literally said I am still glad I made the move.
But yeah go ahead and keep farming silver bananas posting low quality memes to your fellow UBS haters. You are all a really weird cult, honestly. Its pretty embarrassing that you are all supposedly in investment banking at firms “better than UBS”, yet you all somehow have this abundance of time to monitor this forum for any post mentioning UBS. The math doesn’t add up, unless you are actually at some firm like WF or Jeff or DB trying to better your own image by talking about UBS.
Either way, get a life - its cringe and embarrassing
Sounds a lot like Tanner especially with the head fake “not providing any more info as I have no desire to dox myself. I was not one of the Barclays > UBS joiners”
Bro summoned the UBS hate train
I have to give it to them, it is genuinely impressive how quickly they can mobilize en-masse like this.
Man this actually helpful and reassuring for some of us with quite a few years of experience. In my case, strong coverage group at an EB, however, wondering if maybe a bigger name could could be somehow additive to my career, your points actually make the point… grass is not necessarily greener on the other side.
Happy it helped! My honest take is that at our level it isn’t that different from the idea of moving houses in the same neighborhood. The grass in the neighbor’s yard might look different from over the fence, but do you really want to sell your current house, buy the neighbors, and go thru the effort and cost of doing the move just to see how their grass compares?
Unless the grass in your yard currently is yellowed and dying out, and can’t be saved no matter how well you water it, it’s a pretty low chance that the move is ultimately worth it.
Schizophrenia
Great description of UBS!
UBS is not paying 110% lol
Only if on a guarantee
You are both wrong, if you weren’t posting as anon I would happily dm you a picture of my bonus paystub to prove you (and the rest of this WSO forum) wrong
Exhibit A:
UBS director acts in unhinged manner trying to convince the public that UBS isn’t the worst place to land in banking right now
How is the pipeline looking next quarter?
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