UBS Bonuses
Comp day today, post your #s!
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Based on the most helpful WSO content, here's a snapshot of the average total compensation for various positions at UBS as of September 2023:
These figures include salaries and bonuses, but specific bonus numbers are not provided in the context. Emotional reactions to compensation can vary widely based on individual expectations and experiences. If you're looking to share or compare your numbers, the WSO forums are a great place to see what others in your region and seniority level are reporting.
Sources: UBS no longer sponsors or offers return offers to those who need a sponsorship, UBS SA 2020, UBS groups - London, Summer Offer: UBS vs. Guggenheim vs. Rothschild (RX), UBS backtracking on Hybrid work
Bump
Very bad numbers across the board. Seems like bonuses down by nearly half in a lot of cases.
Middle / upper middle bonuses:
AS0 stub: $35k
AS1: $60k
AS2: $80k
AS3: $100k
I mean this is in line with expectations, no? Bonuses are down across the board, UBS has too many juniors, and just made a costly acquisition of both CS and a ton of Barclays leaders. Most associates in my group seem fine with the bonuses but there could be group differences.
Those numbers don’t make sense if stubs are half of the full year bonus
$35k stub for ASO stub years confirmed. Coverage NY. Ignore my title.
Tbh glad it's my stub year since if the whole street is taking a L, rather just collect my stub now and hope that deal flow recovers 2024.
You’re a stub stop talking
ubs is mid lol
e: calm tf down incoming ubs sas and fts ur banks bonuses are ass wdy want me to do about it lol
Shut up MBA Associate, go REF out the model and save over it
go make another cringe video for ubs hr bud
Curious to hear at which bank and in which location you work big shot
Doesn't matter bc it doesn't change anything abt UBS or the fact that other ppl in the thread echo what I'm saying lmao. I will say it's a bank with significantly better bonuses than UBS if you're so curious
Hearing some super bad numbers. Bad enough I'm too depressed to put on paper here. Mine included.
Only a very very select few got serviceable comp. Rest was bad bad.
Ridiculous to comment and not share
In line with above figures. Some way lower. Vps not great either except for a select few. Heard of several zeros or sub 20k figures.
Brutal. Keep your head up sir
Fuck I hate this bank so much. Cs merger was a terrible moment for us and hate this barclays leadership takeover. Totally done with this place. Canceling all my recruiting/coffee chats. You don't want to come here.
Existing cs people unhappy too.
Good luck ubs on your new mega deal only approach in 2024 without dishing out the balance sheet.
Yeah this is how pretty much all legacy UBS ppl feel at this point. We are in the worst spot of everyone: we literally lost our bank…
A tiered society where OG UBSers are disrespected…
1: The 15 Barclays hires that now run the US IB and are all on fat guaranteed comp for two years. Basically stealing the bonus pool from others for two years without any real revenue gen so far
2: Remaining CS employees, many of whom got special bonuses and guarantees (including juniors) to not jump ship to Wells, DB, TD, Santander, etc
3: Actual long standing loyal UBS employees who get the scraps of the bonus pool, watch their seniors get fired or get 0’s
Expect layoffs later in Q1 and then a mass exodus. By YE 2024 UBS will be unrecognizable. With all the turnover the business will never be able to take off and the Barclays regime will be relieved of power in late 2025 or 2026, another failed effort
So no layoffs though???
AS1 coverage
11k. Fuck the cS people for coming over
mid bucket?
CS failing is the best thing to ever happen to UBS, and the worst thing to ever happen to UBS emplpyees
Yoooo 11k as an associate?? NYC? Sorry to hear man that blows
Have been hearing from some folks that there have been no base pay bumps, other than if you were promoted. Is that true?
There are base pay bumps in the sense of the standard increase of pay from An1 - An2 if that's what you're referring to. There's no increase in base pay for that year(nor is there for any other BB).
i havent checked a single email today
anyone just not working right now?
for an 11k bonus? as an associate?! i’d be busy fucking up as much shit as possible with “sabotage” by beastie boys blaring in my headphones
Exactly this. Like 75% of our morning call in S&T just didnt join.
I bet ubs reports bad earnings on Monday below street based on these bonuses
I disagree. These bonuses likely say nothing about UBS's quarterly earnings - if anything, they might be a bullish signal on the quarter.
The IB is a pimple on the ass of UBS's wealth management business. UBS is a wealth manager first, second and third, and an investment bank fourth. IB results really just don't matter that much to UBS's overall results.
Also, the low bonuses are more likely to portend higher profitability than not....low bonuses mean UBS is paying less for talent. Everybody knows it's a shitty revenue environment for IB. Analysts are not forecasting big IB revenue. That's already baked into numbers. If anything lower IB expense is a potential source of upside (however small given above point that IB in general is only a small part of UBS's overall business).
Just my $0.02. We'll find out next week!
I can echo this same sentiment however with one major caveat which is that although IB may be a distant 4th, it still exists as a complimentary offering to UBS’ wealth management clients. Strategically if UBS shuts said offering down, they risk wealth management clients going to other IB’s for those needs and thus increase their chances of being poached over to other banks as a client.
I hate to say it but this didn't age that well...
They also give out some 0s which is very brutal.
The analysts who got $0's are already looking, it's just a sign banks use that they will fire you.
Think associates and above. Analysts have a different cycle but agree
Questions on this, does receiving the 0 translate directly to they are looking to fire you? or they are just heavily motivating you to leave? I thought the purpose was basically to convince you to leave with the horrible comp, but not outright let you go as the bank would have to pay for severance amongst other benefits.
London - AS0 Product & Sector Bucket mid Stub: £25k Salary since August £110k (up from £85k w out CS merger)
Total comp (incl August £35k bonus and £25k AD promotional bonus): c.£170k
Most important bonus: promotional 2 extra weeks AD leave.
All in all some people really god f cked but the A3 (now called AD0) really received a god gift.
One thing to note is that the hours were horrendous the past 6+ months and CS people (not all) sat around did nothing and got paid roughly the same though they will be back paid I believe in August
Region: EMEA
Seniority: AD
Product / Coverage Group: Fixed Income / Market Maker
Salary: 155k
Bonus: 25k
TC: 180k
Emotional reaction: They f*cked us. Plenty of desks just waiting for the money to hit and are then leaving for greener pastures, lot of people taking meetings across town or just did not come back into office the day after, not sure which of them are out permanently and which are coming back. To be frank many people just feel exploited, nobody believes this narrative of bonus pool size due to CS takeover, everyone just feels lied to as its obvious this is a public perception play ahead of further cuts of CS people this year. Desks making 2-3x budget this year are getting half what they got last year. One highly successful desk in EM are already in discussions to leave and they were just recruited over recently, the mood on the floor is horrific, havent seen it like this ever.
ASO 2, legacy CS
Bonus: $125K (mid/top bucket)
Coverage
some upset legacy UBS juniors looking to catch you outside, brah
yea - kid better learn how to fight!
Bonuses were down from last year but not by more than 20%….in the context of the broader market backdrop, that’s more than reasonable. Coverage/product groups have different bonus pools so there’s a lot of inequality of payouts across class ranks - apples and oranges. If you got a $0 cash bonus, it doesn’t take Einstein to figure out the message there.
not true at all. many are like 50% cut from last year
feel like bands were pretty wide
coverage group seemed generally pretty happy/content with what they got…low expectations which got beat but not blown away seems to be consensus
Top buckets were getting 80% of base
Is this US?
Have not heard those numbers from London
I know right. I’m hearing that LDN got Fcked and US did not, which is hilarious as the US side of the business has not been profitable in a very long time.
US, NY
AN2
base: 115 -> 125
bonus: 50k
CS legacy
Not a coverage/product group in the traditional sense but still FO
anl numbers didnt come out?
My group all got theirs last Thursday, including analysts
Ny is a July cycle
this says they are ny?? friends in ny who are anls have not received their bonuses yet lol
This is cap
Why would I lie? Even my original group in CS revealed bonus in February last year. Also this is more negative news for me because now I have to wait to see where I stack up
ASO 1 Coverage
Bonus: $125k (top bucket)
Better then expected
I am no longer in IB. Was with friends who still are and heard about UBS comp complaints. Have a buddy who is higher up in UBS. Figured id come here and repeat what I heard cause fuck management and I really feel for you guys. End of March UBS is doing a major round of lay offs. So just be on the lookout. If you dont feel secure start looking at exit ops
This makes sense. The head of IB during his town hall earlier this week said literally 3-4 times that the division needs to be profitable in Q1.
Revenue hasnt picked up at all from last quarter (if anything things have gotten worse), so the only way we are profitable in Q1 is if significant Opex is stripped out before the end of Q1, the only which way to do so is mass layoffs
My understanding and I dont want to be specific to protect the source of info is they will be getting rid of CS and UBS employees. The decision comes down to the desk heads as to who they will prefer. I recall at UBS it was really hard to fire someone outright. Takes a year at least. End of March they are removing this obstacle one time only. This also goes for MO and BO. Pretty much is a purge of redundancies. And to your point, correct this is about major cost cutting to boost the numbers the easiest way they know how.
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This seems too high - $185k on your $200k salary in 2023 represents 93%. I have a hard time believing that’s what CS legacy ASO2 would get. You are from class of 2021 and even at CS prime time, they won’t pay that much. 75% or $150k is possible, but what you said is more likely for an ASO3 bonus (who would be a VP1 now).
.
Nice thats a crazy good bonus. Did you get a retention guarantee?
From what I heard most people on the UBS side got like $100k or less as ASO2…seems like A2A’s get consistently better bonuses than MBAs too across ratings, deserved or not
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