RBC NY vs. UBS NY
Hey guys -
Thoughts on RBC and UBS? Both in NY. I know UBS is on the major decline, but does RBC place decently into MM shops/funds? Thanks.
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Offers? If so, congrats man. I know a few people at both offices. RBC is definitely growing its presence here and I think they have decent exits. UBS is pretty shaky right now, but I'd still probably leans towards it in terms of exit opps
At these generalist offers ?
if this is just for SA, then go with UBS
I don't understand why people throw monkey shit to this post
i don't either, but whatever
hey why not work for a firm where you do sell-side advising and staple financing! M&A and LBO experience!
Go for UBS. The firm is shrinking but not declining. Granted, some people left. But the firm still has pretty good deal flow to keep the remaining ones busy. For summer and full-time analyst, it's the place to be trained well. Plus the exit opportunities are good. RBC's growth is more transitory in my opinion. The firm had a couple of good years after the 2008 meltdown, because Canadian banks were generally not as highly leveraged as their US peers were. But now Canada plateaus and US recovers, the bank has no advantage competing in the US anymore.
If you have some appetite for risk, go with UBS. They did well for themselves last year and analysts there had good exits to PE. RBC is growing and a good place to work with great culture and working environment, but UBS is still a BB, and RBC doesn't have great exits for PE. I would also try to gauge what the offer rate is like at each of the firms for SA.
RBS has no exit to PE. UBS is still a name and sends to PE shops consistently
UBS! Like others mentioned, better exits. UBS also has a great culture! Besides, its just SA, you should try to get that brand name - even though UBS hasn't been on the top, its still a BB.
Easily UBS
Easy decision. UBS is still a much stronger bank than RBC
If offers are for regional offices, you might consider RBC over UBS. But for NY, go with UBS. No question.
if it's a career move, go with RBC. if you're looking to exit, go with UBS.
Don't even know why this is a question. MM or BB? Guess it depends which one you prefer, but I feel for most, the answer is obvious. UBS.
Does anyone have an idea of how bonuses were last year for analysts at UBS?
Interested in knowing this as well.
UBS has been doing very well in the past. Most banks are following in its footsteps and are doing similar restructuring efforts in the FICC space to cope with new capital regulations. As I have stated in other threads, UBS is ahead of other banks in that regard. Bonuses are on par with every other BB (not sure about Goldman), and they have been raising them to try and stop the banking -> PE/HF route (another goal of theirs). Overall I would say UBS is getting back on its feet.
In regards to the OP's post, this shouldn't even be a question.. You are basically asking if you should take a MM (not the best MM either) over a BB? In my opinion of course, this shouldn't even be a question. If you are trying to exit, UBS would definitely be your best bet (especially if you can get into FSLF). Just my thoughts.
Agree with what is said above but just wondering what the definition of a MM is?
Wasn't RBC on quite a few large deals this year including advising $44.4 billion Valeant/Allegran deal?
Bump**
UBS ibd vs RBC ibd (Originally Posted: 01/26/2013)
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If you want to stay at the place that you intern (which in my mind is always ideal), then I think RBC would be the better bet- higher morale, lots of upside, growing office (assuming NYC), better job security.
If you want to try to leverage the offer into something better for FT (which won't always work), I think UBS still has a stronger name and would serve you better.
Given that this is for a summer analyst position, IMO the two most important criteria should be (1) chances of converting to a FT offer and (2) fit, in terms of bank/group culture.
I disagree with most of this. I don't think chances of converting to a FT offer should be much of a consideration- obviously at UBS there is a lot of uncertainty, so who knows, but for the most part at any of these banks if you do a good job you get an offer and if you don't you don't- I've said this in other threads, but when people don't get offers it does not tend to come as a shock.
I would agree that fit and culture are important, and the morale at UBS definitely plays a part in the current culture of the bank.
Similar situation last year. The overwhelming recommendation from those in industry was to go with RBC.
Thank you for the replies so far.
@Matthias can you elaborate on why people advised you to go with RBC?
RBC NY Tech is solid, recently made a bunch of high profile hires from BBs.
This isn't really close; I would take RBC in a heartbeat. More stability, better pay, better-run company, better morale. Exit opps are what you make of them.
RBC certainly if its in Canada/US.
If I were in your shoes I'd go with RBC.
RBC for sure, they have a solid leveraged finance team as well backed by their Fortress balance sheet. Can't say the same for UBS
I don't know about RBC IBD, but a friend did RBC Trading Summer Analyst, and he said only like 6 out of 25 converted into full time...
Which groups at both?
I'd recommend going with RBC, unless it's a top group at UBS. People don't realize that group placement is equally as important as which bank.
In general, RBC. They're doing extremely well as of late, and have a great culture, it seems like. I think you'd rather be on a train that's speeding up rather than one that's slowing down.
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