We all know about UBS cutting 10k jobs and all...
I've heard from a handful of Associates that NONE of the teams/groups are looking for any FT Analysts to start in the summer. According to the deadline for applications, Nov. 15th is the date but there isn't a link for FT. You can only apply for SA.
What have you guys heard; Is it really that bad?
It figures the firm I have the best relationships with isn't hiring.
:(
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There will always be a need to replenish the ranks from the bottom. Especially as they are likely to look for ways to replace overpaid seniors with harder working, lesser paid juniors
in all likelihood these will be sourced out of the SA program
ugglan has a good point, but to answer your question, yes it really is that bad. They are more or less cutting their entire fixed income sales and trading force. Let's just let that one sink in. Mostly likely their conversion rate from SA to FT is still going to be exceptionally low, even after the 10k cuts. Don't hold much hope for that place
while you're right that ubs is cutting less profitable units they are keeping and in some cases growing the more profitable ones. these are what they classified as their gems from their q3 presentation: Advisory and solutions, origination and structuring, IBD, Leveraged Finance, Special Solutions Group, Distribution, sales and trading Equities, FX, Precious Metals, Flow rates.
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