UBS Exits
Incoming at UBS - I understand the state of the bank is pretty rough given layoffs, struggling dealflow, and more. Grateful for an offer in this market nonetheless. Honestly just looking for advice from current UBS folks on if my exits are cooked or not and how exits might look realistically in a couple years after I finish my two year stint. What can I do to maximize exits, is lateraling a serious goal I should have, or can I get to a respectable PE/PC shop from UBS? How have recent classes been exiting and have recent AN1/2's been getting interviews to respectable shops?
2025 exits from Linkeldn that I could find off basic search (i.e. people who exited this summer; so post the whole UBS sucks stuff on WSO first coming out):
LevFin: Ares PC, KLS, Oaktree PC, L Catterton PC
Industrials: Veritas, GA, 26 North (Josh Harris's firm)
Tech: PSG, HIG, FP, Serent, and Siris (first 3 are NYC Tech and later 2 are SF)
HC: Arsenal, Odyssey
M&A: Fisher Lynch Capital, Infinedi, Clarion Capital Partners, F3 Partners, and THL
FIG: Neuberger Berman and Stone Point
Consumer: Platnium Equity
FSG: BX PC
Not going to comment on quality or provide thoughts since that is subjective but that's the data I could find.
lowkey some solid exits
Very major differences in groups it seems though. M&A is interesting because it's 3 LMMs and 1 larger MM / UMM; most other groups are pretty easy to evaluate relatively for exits. Unsure if that UMM guy got lucky or if all the LMM people got unlucky.
The top bucket analysts in most groups can get a solid MM / UMM offer. Mid buckets and below are struggling to get anything at all. Ultimately only 15%-20% of UBS analysts have what is considered a successful exit by traditional metrics
Think the big thing with UBS is that in most groups the top analysts just get all the deal reps, and that’s what drives exits. Explains how people in the same group can have totally different outcomes , some land UMM spots (from THL up to FP/Veritas), others get nothing. Hard to perform in interviews with no deals to speak to; much easier when you’re staffed on basically every live process. Outside of truly weak groups like M&T/RELL, this trend generally holds, with the caveat that LevFin, Industrials, and Tech seem to do better at the higher end. I think the actual exit rate is higher than 15–20%, but outcomes vary a ton by group.
There are UBS groups where 1–2 analysts are on basically every M&A process , 1–2 get some live reps but mostly non-M&A product work, and the bottom half are on nothing live. That gap explains most of the variance in exits.
Isn't this very good considering the quality of the analysts? Feel free to ignore my title if tempted.
Exit quality is subjective. Not sure what you mean by analyst quality; but UBS punches above it's weight for exits relative to leauge table rankings except for PC. It punches at it's weight in PC given UBS has a leading US LevFin franchise.
How are tech exits so good relative to performance? Or is the recent slight rebound in deal flow helping boost that? For someone who wants to exit into tech investing, wonder if it's smart to try to do so from another group (e.g. GIG to GA)
Historically (as of maybe like 3 - 4 years ago), UBS Tech was the clear top coverage group at the bank and consistently placed well into PE, with UMM outcomes fairly common based on LinkedIn even over the past few years. That reputation seems to have held as candidates have continued to land offers, though how long it persists given recent deal flow is an open question. More recently, Tech has added several MDs this year from BoFA and MS (as did CR/HC per internal announcements), while groups like GIG and Sponsors have seen senior attrition.
That said, exits and UBS flow still suggest LevFin is the strongest group by exit quality and volume IMO. Tech appears to punch above its deal-flow weight on exits, likely driven by historical placement momentum, but unsure on exact dynamics since not in the group. From a pure coverage deal flow standpoint, Consumer Retail is probably the strongest group at the firm.
Aut dolorem quidem voluptas non quasi magnam. Est omnis maxime in sequi odio. Assumenda nulla eveniet eum et.
Architecto animi nostrum quae atque. Architecto iste est distinctio. Est aspernatur assumenda pariatur molestias. Cum ipsam dolorem aperiam ut nobis.
Quo dolore ut ut nihil. Autem eum consequatur omnis consequatur beatae beatae deleniti. Reprehenderit adipisci deserunt inventore aut sint est velit.
Ullam ipsa unde sint quia. Accusantium consequuntur tempora doloribus. Iusto suscipit et et qui quidem dolorem distinctio.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...