UBS Analysts talking about unionizing given working conditions and potential dinner cuts

I heard some saying all they need is 30% of the analyst / associate class to sign a Docusign supporting a union and they can force a vote on unionizing. They seem to feel justified based on long hours, meal stipend cut and the lack of clarity in bonuses and potentially sexist/racist disparity between staffing opportunities.

Given perks might start disappearing this was the logical next step. Nothing formal and obviously all in secret, but it was funny hearing analysts seriously discuss labor organizing.

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It’s not as crazy as it sounds. Wall Street has actually seen organizing before. In the mid-20th century clerks and back-office staff at brokerages and exchanges were represented by unions like the Office and Professional Employees International Union. Then after the Great Depression pushed a lot of financial firms to formalize working conditions. More recently even Wells Fargo branches voted to unionize in 2024 with the Communications workers of America. front-office is different given the pay, but it’s not that crazy. Maybe they can even throw in some AI worker protections

 

MDs would violate the Geneva conventions to get an extra million in fees 

 

Unions only start when/if there are large abuses of their employees. Could be the case too

 

The strongest legal case would revolve around analyst misclassification under the Fair Labor Standards Act (29 U.S.C. §213(a)(1)). The administrative exemption only applies when employees exercise independent judgment on matters of significance, and courts are supposed to apply exemptions narrowly. In reality, first- and second-year analysts spend the vast majority of their time doing production work: updating comps, moving logos, fixing formatting, rebuilding models, and turning PowerPoint comments from VPs/MDs under detailed instructions. They aren’t setting policy, advising clients independently, or exercising meaningful discretion they are producing the work product the bank sells. Under the FLSA’s “administrative vs production” distinction (29 C.F.R. §541.201), that looks much closer to non-exempt production labor, which is exactly the type of role overtime protections were meant to cover.

 

The law and public support is on the side of junior bankers. From NY AG website: Federal labor law protects workers who engage in concerted activity from employer retaliation. Complaints can be filed with the National Labor Relations Board. NLRB contact information is listed at the end of this document. NOTE: farmworkers, who are not protected under federal law, are protected under New York state labor law for this type of activity.

NY State Labor Law also protects the rights of workers to be free from retaliation. Your employer may not discharge, suspend, demote, or take other adverse action against you because you raised concerns to your supervisor or have taken action to file a complaint with the New York Department of Labor or the New York Attorney General about unsafe workplace conditions.

 

Would love for a bank to have the balls to go to a jury trial. Jury would be insane in NYC and the jury would hand the analysts $1bn and derive that amount based on vibes alone

 

Centerview didn’t really fold.

They had to pay some ransom to an ex-analyst who, opportunistically, demanded money in a frivolous case she’d likely lose. However, the trial would have forced Centerview to reveal information that it likely felt would erode its competitive standing and public image, so Centerview paid anyway.

It was likely a very small price for a bank to pay to avoid this.

 

Analysts receive work orders.

Analysts complete work orders and follow the exact standards, formats and colors for doing so

Analysts get asked about capacity and how fast they can work so they can take more work orders.

Analysts have little to no independent say in how the work gets done.

This is no different than a typical unionized mechanic or assembly line worker.

Union workers receives work orders.

Union workers complete work orders and follow the exact standards for doing so

Union workers get asked about capacity and how fast they can work so they can take more work orders.

Union workers have little to no independent say in how the work gets done.
 

 

Informal “Union Quiz” (10 Questions)

1. Control of Work

Do you have the freedom to decide how your work is completed, or does management closely direct the process?

A. I decide

B. Mostly management

2. Work Hours

Who controls your schedule?

A. I set my own hours

B. My employer sets my hours

3. Supervision Authority

Do you have the authority to hire, fire, discipline, or promote employees?

A. Yes

B. No

4. Independent Judgment

Do you regularly make management decisions affecting other employees’ employment (staffing, performance ratings, pay)?

A. Yes

B. No

5. Equipment & Tools

Who provides the equipment or systems needed for your work?

A. I provide them

B. Employer provides them

6. Pay Structure

How are you paid?

A. Per project / contract

B. Salary or hourly wage

7. Outside Work

Can you freely work for competitors or clients without approval?

A. Yes

B. No

8. Workplace Policies

Are you subject to company policies like performance reviews, HR discipline, and required compliance training?

A. No

B. Yes

9. Job Security

Can the company terminate your employment at its discretion?

A. No

B. Yes

10. Shared Conditions

Do you work alongside others with similar roles, hours, and management structure?

A. No

B. Yes

Rough Interpretation (Informal)

Mostly B answers → Likely employee under the National Labor Relations Act, eligible for collective bargaining.

Mostly A answers → May resemble an independent contractor or supervisor, which may not be union-eligible depending on circumstances

 

This is a solid point. If we’re being honest, 90% of an analyst's life is just manual labor on a screen. Moving logos and reformatting tables isn't "independent judgment on matters of significance", it's a production line for pitchbooks

If someone challenged the administrative exemption in court, the banks would have a hard time proving that a first-year associate is anything more than a glorified typesetter.

 

Psyop guy believes everything is great at UBS. People upvoted because they can relate

 

I have spoken with several former and current UBS analysts, with many attesting to the low pay and decline of the platform. Not one confirmed the misinformation spread on several posts by I believe the same person (M&A/Sponsors being combined into one group, dispelled by internal sources; whatever the clearly troll posts on “meal stipend cuts” were that somehow got widespread coverage, for example) and the deeply rooted hatred evident in the person that continuously posts these threads over their Saturdays.

Looking forward to the MS as my comments are spam downvoted by their alts and forum viewers unable to decipher which posts are made by internal and external sources (which is honestly quite clear, see the recent group placement and exits posts) as compared to whatever nonsense this person and perhaps a couple of others (Exec Director - IB in the past, also anon) have decided to peddle on a given week.

 

there’s a lot of upvotes because this is a common sentiment shared by basically every junior employee

 

This is the greatest news in Wall Street. Hope UBS has success and other firms can also unionize. All workers deserve protections and being able to lobby as a collective is a powerful thing. 

 

The wealthy elite have made billions off the backs of abusing analysts. Over last decade tens dead (Mental health/Drugs/Stress), hundreds hospitalized, maybe thousands hospitalized. If this was a coal mine it would have been shut down a long time ago.

The abuses have gone on for too long. Unionize now! UBS - Union for Banking Standards

 

How many more dead analysts and associates do we have to see? The only way we can prevent employees from dying is to take back power ourselves. All we want is fair wages and safe working conditions, which is the bare minimum that they can’t provide. No one’s coming to save you, we need to take back power ourselves. 

 

Preach. Everyone should have the right to not get abused or screamed at by their seniors regardless of pay. This isn't a UBS only problem obviously, but glad that UBS people are starting this trend. Hopefully, can get stronger worker protections across the street. 

 

They mistreat their analysts so much that they create fake rules for staffing best practices, so that the analysts feel protected by the “rules”. Then just wipe their ass with them and completely ignore them

 

I would say their treatment of analysts is pretty similar to what to expect across the BBs. But overall treatment of analysts at BB is not great

 

in my experience, abuse was worse at UBS than my peers at other banks. UBS’s misuse of H1B program also warrants scrutiny 

 

It’s crazy because if you just treated analysts and associates well and paid them fairly, you would get better business results. 

 

Path to unionization: 


The usual path would look like this: first, analysts quietly identify the proposed bargaining unit and build support among coworkers; second, they either connect with an existing union or organize independently; third, they collect support cards or a petition from at least 30% of the proposed unit; fourth, they file an RC representation petition with the NLRB; and then, if the petition goes forward, the NLRB conducts an election. If a majority of those who vote choose union representation, the NLRB certifies the union. An employer can also voluntarily recognize a union that demonstrates majority support.

While organizing, analysts generally have the right to talk with coworkers about pay, hours, staffing, protected time off, weekend work, abuse by seniors, and other working conditions, and to solicit support for unionization, subject to normal workplace rules that are applied lawfully. The NLRA also protects “concerted activity” even without a formal union, so workers acting together over working conditions can be protected before any election happens.

On retaliation: yes, retaliation for protected union activity can be illegal. The NLRA bars employers from discriminating against employees because of union activity or support, and the NLRB says employers may not discharge, lay off, discipline, or otherwise discriminate against workers for being pro-union or for participating in NLRB proceedings. If the bank threatened people, cut bonuses selectively, fired organizers, blacklisted them, or changed conditions to punish organizing, those could be unfair labor practices. 




 

 

I think this effort would receive widespread support among junior bankers, the financial media, and the general public. 

And you don’t have much to lose, since employer retaliation for unionizing activities is blatantly illegal. Keep a record of all conversations, performance reviews, work. Since NYC is a one-party consent state, you can record verbal conversations on a smartwatch or your iPhone. If they fire anyone, you’ve got a good lawsuit against them and can settle for a lot of $$$ like Kathryn Shiber.

 

The year is 2027. Analysts are struggling under 90 hour work weeks, because UBS intentionally underhired analysts by 50% to save money (AI can do all the work, your toxic shitbag seniors say). It’s 9:30 pm. You haven’t eaten in 10 hours and you don’t have seamless anymore. You’re still at the office, and have 5 hours more of work ahead of you. Your Director calls you on teams and cusses you out for not having a deliverable ready. 

This will be your life if you don’t take action now and try to claw a shred of decency back from these vultures.  

 

Its crazy how people are so spineless that they don't push back even when they're on the brink of death. Grow a pair and stand up for yourself.

 

Centerview girl got 7 figure settlement for 3 months on the desk. Maybe people with legitimate grievances should push back.

 

This would never work, it’s a prisoners dilemma situation with hundreds of people to replace your seat.

 

This is exhibit A on why you should hire hungry non-targets instead of Marxists from Ivy League schools 

 

This is Mamdanis NYC. At 2 am, if an MD doesn’t like the size of the logos on a logo splash page then either:

A.) they can fix it themselves, or 

B.) they can go fuck themselves

 

Shit yeah, we should honestly get in touch with mamdani’s office as he is the most pro-union mayor NYC has ever had and the majority of people in this city would love to make an example of the big banks.

I seriously think the odds of the union failing are very low if we make a serious effort at this, especially considering the fact that all you need is 30% to agree over a Docusign. 

 

Ten potential responses Monday if asked:

  1. “I saw the headline online but it didn’t seem like anything serious.”
  2. I haven’t heard anything about that from the analyst class.”
  3. “I think I saw it for two seconds and then went back to turning comments.”
  4. If there is a union, I assume it meets sometime after the 2am comments are done.”
  5. No idea… I was in Excel model all weekend.”
  6. “the only thing analysts are capable of organizing is a Sweetgreen group order.”
  7. “If analysts are unionizing it must be happening between 3:30 and 3:45am because that’s the only free time on the calendar.”
  8. “I saw the headline but figured it was just another analyst coping mechanism.”
  9. “Honestly if analysts were capable of unionizing they probably wouldn’t be working here.”
  10. “If it’s as real I assume the first bargaining demand is a larger font size for footnotes.”
 

It’s funny because this is 100% within the realm of possibility of something that analysts could do. Unlike their planned “walk-out” or bitching over the $30 meal stipend, they could actually drive real change. But they won’t because they have Stockholm syndrome and enjoy being bootlickers.

 

Great idea guys, let’s bring it up at JEC. I’m sure global banking leadership will be very receptive and introduce unions to complement the GTP program!

 

The fact that JEC even exists means juniors felt the need to collectively bargain, or really collectively beg for things.

Let’s formalize it with UBS! United for Banking Standards!

 

It’s a protected Saturday, get back to work. The fake internal memo isn’t going to write itself!  

 

What has happened at UBS over the past 5 years is nothing short of a movie plot. Looking forward to watching the film when it’s out, hope they cast someone cool as the lead!

Engineer in Finance
 

Title: “The Integration”

The film stars Adam Driver as a painfully serious first-year analyst who joins UBS in 2021 believing he’s entering one of the great franchises of Wall Street. Instead he discovers the real operating model: a small, sleep-deprived New York team building slides while an entire formatting army in India adjusts bullet points overnight. The bullpen is a bizarre bond of caffeine, dark humor, and constant speeches from senior bankers insisting the firm is “absolutely back” and about to reclaim its glory days competing with Goldman Sachs and Morgan Stanley. The analysts go out for drinks all the time and dream of their futures. The analyst and his friends celebrate tiny victories like a $3bn sell side of a niche company, appearing on the second line of a deal tombstone, or a client replying “good work.”

Then the industry implodes when Credit Suisse collapses, triggering the chaotic rescue merger that floods the office with overlapping teams and enormous egos. Steve Carell plays a delusional former CS, now UBS MD who insists everything is “going exactly according to plan,” while Jason Bateman leads a group of cool, ruthless executives parachuting in from Barclays to “manage the integration,” which mostly involves quietly taking control of every important seat in the building. The analyst spends months building client integration trackers for bankers who openly hate each other, until one day he realizes something strange: nobody in leadership actually understands what’s happening. In another scene, after yet another meeting where ten MDs argue about a deal that doesn’t exist. Months later the analyst receives a calendar invite titled “Quick Catch-Up.” In a glass conference room HR thanks him for his “contributions to the integration journey.” As he walks out carrying a cardboard box, the camera pans back to the bullpen where senior bankers are reading headlines of another deal with 10 banks that announced without UBS.  “I thought the hard part would be the hours. Turns out the real challenge was the people who caused them.” 🎬
 

 

Trailer transcript leaked:

What if I told you…

that one of the most powerful investment banks in the world slowly became an afterthought on the biggest deals in finance?

For decades, UBS was a serious competitor on Wall Street: advising on megadeals, winning mandates, and paying bonuses that could rival the best banks in the business. But over time the ground shifted. Risk scandals piled up. Talent left. The firm pivoted hard toward wealth management while the investment bank shrank into something smaller, safer… and quieter. Meanwhile rivals like Goldman Sachs, Morgan Stanley, and JPMorgan Chase kept climbing league tables.

Then came the moment that should have changed everything. In 2023, UBS rescued its collapsing rival Credit Suisse in a government-brokered deal that stunned the financial world. Sergio Ermotti returned to lead the integration, promising to create a European banking champion. On paper, the combined institution would control trillions in assets and be a global investment banking powerhouse overnight.

But mergers aren’t won on paper. They’re fought in conference rooms, in bake-offs, and on late-night pitch decks written by analysts wondering which franchise would survive. Cultures clashed. Power shifted. Rainmakers defected. And as the dust settled, one question lingered across Wall Street:

Was this the rebirth of a global banking powerhouse…

or the final chapter in the slow fading of UBS investment banking?

This is the story of ambition, survival, and the long road from dominance to irrelevance.

The Integration

 

First year analysts expected to give up every waking hour of their lives but can’t even afford to live without roommates. Masters of the universe my ass  

 

Now’s the time to do it as Analyst 2s get ready to leave and soon have interns to help with work as they work behind the scenes to coordinate. Pretty much just need half of the analysts 2s leaving to agree to do something great for the next generation of analysts

 

I almost died as a first year analyst at UBS due to the abusive demands and hours worked. It’s about time someone stands up to these immoral people.

 

I imagine these analysts have so many stories but just can’t share them for fear of retaliation

 

UBS analysts working hard for promises of deals that don’t exist or will not involve UBS.

UBS analysts working for exits that won’t exist and  hoping to work for firms that won’t hire UBS analysts anymore.

Sad!

 

My recent gripes with UBS:

-JEC is useless, doesnt do anything of any impact to improve the job
-The Co-President Investment Bank is useless, we’re closer to 26 than 6
-Various senior abuses…Heard a senior in M&T threw papers at an analyst - they should be fired for this no?
-UBS banked nazis and jeffery epstein
-Stock down a lot in recent months because we are clearly failing

Prediction:
-UBS IB to be acquired by Truist before YE

 

Senior in M&T who threw the papers should be fired for failure to originate in the first place 

 

I mean honestly the UBS Americas is failing but PWM and bank as a whole is doing fine 

 

Only positive thing to happen at UBS in recent months is UBS is no longer taking international candidates.

Once the junior population is back to mostly americans it will be much harder for us to be abused. Need to get rid of all the bootlickers that are afraid of losing their job if they dont suck up to the max and work until 3am nightly

 

Thanks to Trump. UBS hates this and is just trying to avoid the $100k fee. And i’m sure theyll try to find loopholes.

 

For 2023 GTP class, UBS deferred the start date of Americans by 7 months and paid them less (and promoted them later) while keeping internationals start date the same. Explicit discrimination against Americans and 50% of their class being international as their policy. That tells you everything about how UBS treats Americans. 

 

Not to mention the horrendous treatment by H1B directors and executive directors who think they can treat analysts and associates like actual slaves 

 

Internationals are cheaper (no social security or Medicare tax) and serve as scab bootlickers to the American juniors who want annoying things like protected Saturdays and safe working conditions 

 

There’s a midlevel in one of the coverage groups who made multiple death threats to analysts 

 

Well that’s one way to make a junior hurry up on their deliverables

 

It’s technically not Union Bank of Switzerland anymore


UBS literally stands for nothing!

 

Funny but true. UBS literally stands for nothing. No morales, just scraping passive fees from wealthy clients and corps / sponsors like a middling bank does

 

With proper documentation, you can make lots of $$$ of settlement if they fire you for trying to form a union or forming a union. If you don’t plan on staying beyond 2 years, there’s no downside.

 

If you expect to be on this years beginning of year layoff send an email to someone on the network as proof that you are looking to form a union. Then can claim fired for trying to start a union.

Literally no downside

 

Feels a lot of ppl on this forum are a bit too idealistic and somehow a bit irresponsible when trying to persuade 1st year to unionize.

First, 2nd year would never unionize since they are leaving banking in 2 months

Second, for 1st year, 2 type of ppl. Type 1: leaving banking after 2 years (95%), why risk unionize when they can just not grind since banks wouldn’t rly lay off first year when they need to give 6 months of additional salary and when first years are leaving in 14months. Type 2: people who want to stay (5%), the fact they want to stay means that they would never unionize. Period.

 

Ok Co-President Investment Bank gfy

It’s selfish to not try to leave the bank in a better spot than you found it for future analysts 

 

Banks do illegal shit all the time which is why they are always getting fined

 

For the incoming interns / 1st year in the summer, try not to be distracted by a lot of comments here. Many just seemed so easy to say these but they would never rly do it. On the contrary, some may even hope others unionize so that w less ppl in the industry, they may get higher bonus per person.

Try to be yourself, focus on your personal growth. By less grinding, not to say to work 40hrs a week or sleep right at 12. It still means on average 70hrs of work, but don’t let others judge you when you leave at 5 and wfh. Also try to have at least 2-3 deal teams members who can stand up for you. At the end of the day, a lot of people over glorify this job. It’s a sales job and it’s just the first few months of training that can help a smart person realize how basic the things one is doing.

Finally, read as much as you can. I have utilized my free time to read 4-5 books on a specific vertical I like and also try to save time to learn AI. Whether you come from a top Ivy or not, in a top bank or not, it’s your personal skill that matters not others’ view on you. I felt the most gain from reading not from this job and hope everyone can have a good mentality when facing this job. If you work super long hours for 2 years and hate this job, wut makes you think you can stand another 5, 10, 15years in PE. Save your energy for more meaningful things and treat the 2 years as training purely

And this is not for any specific bank. My bg is H/Y/P and top BB top group, this is for general interns throughout the industry

 

Unionizing won’t help get more deals or pay but it would limit how badly they could treat you all

 

I have my doubts concerning Unionization because the amount of talent that is trying to enter the industry is gigantic and since they can simply fire you on the spot in the US it's near impossible to actually organize without serious and irreversible consequences for your career.

However, the alternative is that Bankers simply tolerate potentially being worked to death. Why not try to make work less deadly, more in accordance with basic human biology? Sleep is very important for performance so I'm not even sure any of this Hardo stuff makes sense. Seems so pointless to me.

 

Was legitimately shocked at how many retards there are in the UBS bullpen. 

 

Honestly, it doesn’t surprise me. Hours in IB are brutal, and when perks start disappearing—like meals, clear bonus structure, or fair staffing—it’s natural people start talking about organizing. Even if nothing formal happens, just having those conversations shows how frustrated folks are with the current conditions. It’s probably more about trying to get some leverage and clarity than actually planning a full union just yet.

 

When are the next round of layoffs? My group deserves for our MDs to bite the dust, despite that being bad for me personally

 

It’ll happen on a Monday morning this month 16th, 23rd or 30th.

You’ll get a meeting notice on Sunday night with an MD and a nondescript “Bussiness Update,” “Catch-Up.”

Once received you are dead. Email HR requesting medical leave, maternity/paternity leave or that you’d like to learn more about the potential UBS Union.

Then claim retaliation.

You are welcome.

 

Frankly speaking analysts and associates are not real investment bankers, they are assistants to investment bankers ( the MD )

I mean, just because analysts work on the same floor with ibanker MD, writing stuff that ibanker MD tells them to write, do not change the fact that analysts are just assistants. Associates are same.

You are a real ibanker only if you DIRECTLY bring in a client ( not delivering printed decks to clients, that would be a delivery boy )

Investment bankers should not unionise, but assistants and delivery boys should unionise !!!

 

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