UBS & Jeffries hate
I'm new to the forum and was wondering why the 2 are so frowned upon. Would really appreciate some context as someone going into recruiting next year
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UBS pays like shit and has laid off a lot of juniors recently. Jefferies pays like shit and has horrible culture / WLB. Hope this is helpful.
both warrant their reputation but UBS is more of a relative decline whereas Jefferies is systemically toxic.
despite CS integration, UBS keeps sliding in league tables. Also, UBS utilizes more OPT and H1B visas in its investment bank than its peers. This leads to bad culture and WLB for juniors.
Jefferies is an actual sweatshop and hell on earth for juniors, with almost universally bad culture and WLB.
Can confirm what the other 2 users have said. I worked at Jefferies and there is practically no culture at all and horrible WLB
was it in one of the groups known to be sweaty like HC/o&g/tech or its pervasive throughout the whole firm
Do you want to hate life, but win deals? (Jefferies)
Do you want to hate life and lose deals? (UBS)
Can add my perspective to the mix. Hopefully it’s positive.
UBS is like a legacy European bank. This is a more US focused forum and IB in that. UBS is basically like an old school bank that hides money in the Swiss alps. They are very risk off and old fashioned in that sense. Their main business seems to be wealth management. All of those combined are fairly unattractive to the typical person here (an 18 year old gunner looking to make $250,000 in investment banking by the time they are 23). UBS just isn’t so helpful to them for that IMHO
Jefferies maybe for another reason in that the bank sees itself as competing with GS/MS on prestige and future career earnings opportunities but will work kids to the bone and be cutthroat without actually giving people that broad based respect that working for GS does. The founder is like some billionaire Instagram party boy who loves to brag about how amazing Jefferies is and how much he loves the junior staff (he takes 12 out of 1,000 of them to a dinner every once in a while). But at the end of the day, Jefferies really just doesn’t pay so much. Stock trades terribly and the only way to make money in it is by being an uber-insider. They don’t do earnings calls or anything like that. It’s basically a private bank that tries to “get the best of both worlds” with public. I can pause for now. Lots of other stuff going on at 520 Madison or whatever their actual address is. Rich, if you see this. Don’t worry. I still think you’re a good guy :)
peace ☮️✌️
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