UBS Junior Sickout on Monday, March 17
Listen up, everyone. We’re sick and tired of UBS’s lackluster performance, bad treatment of junior bankers, and the planned mass firings. Enough is enough. A group of us, across all major groups, are taking a stand on Monday, March 17, by calling out sick, planning a vacation, faking a travel issue, or any other excuse not to be in the office. We need send a message for change. Here’s what we’re demanding:
- Serious Investment in the Investment Bank
- UBS has neglected its IB for far too long by bringing on bottom-bucket MDs who can’t drum up a single deal and clinging to legacy “favorites” who also fail to deliver. We’re sliding down the league tables year after year. This needs to end.
- Pencils Down at Midnight for Non-Live Deal Work
- If it’s not a live deal, it can wait. We all know most of the work at UBS (especially across certain groups) isn’t time-sensitive. We’re done with the pointless grind at all hours for stuff that just isn’t urgent.
- A Transparent Performance Evaluation System
- Sick of seeing MDs pad the pockets of their golfing buddies or hand out bonuses to “nepo” juniors who can do no wrong. We need a fair, open process to gauge who’s actually performing and compensate accordingly.
- Increase in Meal Stipends
- If you want us chained to our desks, at least pay for a full meal. Pinching pennies on meals while riding us 24/7 is beyond insulting.
- Real Enforcement of IB Management Rules
- We have staffing guidelines and management protocols that exist on paper only. MDs and EDs it’s time for accountability.
- One Guaranteed Weekend Off Each Month
- No “maybe” or “if the stars align.” One weekend from Friday 9pm to Monday 9am completely unplugged.
- A New Head of IB
- The rot starts at the top. We need someone fresh who isn’t entangled in the UBS/CS/Barclays echo chamber. Bring in real leadership and clean house.
So, join a dozen of us and don’t show up on 3/17. Take Monday off and raise a glass for St. Paddy’s Day. Remeber many of us will go on to PE firms, and likely will not give UBS bussiness if much of this continues. Let’s show management that we’re done with the lip service and ready to fight for an IB that’s not a punchline.
Great Idea
Moved from UBS to an American BB, quite shocked the difference is in benefits. Like multiple dinner allowances vs only 1 at ubs regardless how long you grind. More flexible uber policy and allowance for WFH set ups.
I'm sure this will accomplish a lot
be careful. there was a dude that was creating fake protests when the bofa associate died. this sounds like him again.
I’m joining in, I’ve seen this place get so much worse since I was an intern
Every aspect is worse. It’s legitimately gone to shit and most juniors are planning exits.
Planning/Strategy meeting 6th floor break room on Wednesday 3/12 at 8:15 pm
Good way to start pushing for real change that lasts
ive had like 3 analysts tell me they are out on that date (seriously).
I believe layoffs are planned that week as well. Bank deserves this honestly. Im sitting here sunday night grinding out for a super low quality deal (lower middle market EV size) for an MD that barely does deals. No matter how much I work theres not chance of top bucket due to nepotism.
Wow this made it from a couple smaller group chats all the way to wso. Wild
Just curious, how much is UBS' meal stipend? I believe it was around $30 for us at JPM in NYC, wondering how much it varies from firm to firm
It’s $30 too… it’s literally enough to get whatever you want
found the rat
Not anymore with fees if you want a drink and something that isn’t McDonald’s everyday
Do you really think 1 day sickout will accomplish anything? they'll forget about it the next morning if they even noticed in the first place?
It’s more symbolic, maybe the seniors pause for a second and reflect
Why are we ruining our mental and physical health to work on (mostly) non-live deal related stuff until 2 am every night to get below Street bonuses?
Because we are about to turn the corner… and hit a big thick brick wall
Are you guys stupid or something? You’re just giving your staffer the names of who to include in the next round of layoffs…
bump
Yall are complaining about a $30 meal stipend ?
I’m all for protesting, fuck IB and shitty seniors, but $30 is decent
DB had us at $25. You can’t get shit for $25
The extra $5 u get covers delivery
Anyways, goodluck gents hope things change for the better
Well theres your answer folks, UBS deal flow really is that bad for yall to have time to plan all this
Number #38 in the US!
https://go.factset.com/hubfs/mergerstat_em/monthly/US-Flashwire-Monthly…
Tbf, beleive it's somewhere in the top 10 rn after the Wallgreeens and Celsius deal. Much stronger Q1 2025 than Q1 2024. There are a bunch of valid reasons to hate on UBS; let's stick to those rather than inventing new ones that can be/will be easily disproven. Just generally need to be more displinced with the commentary as to why the firm is bad; think a lot of the juniors complaining about it just sound a bit too aggressive with it, think it's more helpful to give people a complete picture whereas it paints a picture of a declining firm with broader harder to dispute facts.
lateral to TD. Pay there is dramatically higher and has better WLB for similar deal flow
Yeah… this will really drive more value to UBS and make Ermotti more interested in the investment banking group instead of firing half of you
If you all saw how bonus numbers were determined, like I have, you’d be disgusted
Care to elaborate?
How?
How?
Rating system. Not the type of rating your grandma would like to hear about.
my granny cracked up while reading this, her high is not gonna go down until and unless you care to elaborate
I support this as I think UBS culture and WLB for juniors have definitely gone down significantly since the merger. The idea of UBS being a bank of chill, laid-back people that was pitched to interns/analysts over the year does not really ring true.
However, let's be real: This is banking. They are already looking to downsize the teams that don't have a lot of flow, which is basically every team besides 2 or 3. I am not sure that organizing a walkout will accomplish anything except give him further reasons to downsize teams, including the juniors for weaker/less deal flow teams like the tech team. Also, I doubt this will accomplish much, even if it doesn't just lead to mass junior firing because whether you like it or not, junior talent is absurdly commoditized. there are 1000s of people who would choose to do this job with these hours and low pay. It might sound like a good way to get frustrations out when nobody is listening to you and there is no deal flow working under shitty seniors in an extremely toxic group, but all it actually does is put you in the leaderships crosshairs.
Would instead focus on trying to lateral out somewhere or internally to a stronger group. Just my 2 cents as a former UBS person, though. GL!
Severance, Severance, get your severance here!
MV: Raise your hand if you want a severance
(Everyone raises hands)
MV: Dammit we can’t give everyone severance
This is spot on. Don't put a target on your back if you don't have to.
Look at IB revenue
Your bonus is not tied to no fee deals
“The Swiss bank’s unusual goal is for its investment bank to be No. 6 in the U.S., Rob Karofsky, president of the investment bank, told The Wall Street Journal.”
Looks like they’re almost there.
No where close
It's currently 10th and has deal volumes that is almost half of number 6... nowhere close to 6th as of rn. Will grant that Q1 2025 is an improvement from a disastrous 2024, but clearly nowhere near reaching it's goal of 6th or best non-American bank (still remains Barclays).
This seems really similar to the BofA 'walkout' planned by someone who didn't work at BofA. More stirring of the pot without any real solutions.
Not defending the bank but please don't seriously consider this if you're actually at UBS. It won't really have impact unfortunately.
I think that was a strike, this feels different
Guys I'm all for messing with the system but this isn't going to do anything. Not saying that to be a dick. What's the desired end state here? You really think they are going to say "wow I guess we really need to revamp FIG and other underperforming groups like tech because a handful of goofballs online decided to take the day off"
Reality is these companies don't care about you. I don't say that joyfully. It just is what it is. Use your IB time to stack up some money, get ownership in a side business of your own that you can scale up, and then get out. The only way you're going to beat office politics is by not being in a situation where you have to deal with it at all
What are these side businesses
Publicly disclosed on both my FINRA and on internal compliance and signed off...calm down Sergio
In solidarity with this, although I will go to work on the 17th, I will pee on the floor next to the toilet as a sign of protest
The universe should have kept CS and left UBS
F CS
my group sucks, no deal flow low bonus
OMG me too… and my hours are still bad because there’s so much fake pointless work. Fuck this bank.
It’s not pointless… we need to stay close to the client… 🙄 so they can then turn around and snub us from the deal for the usual names GS/MS/JPM
Will the layoffs affects juniors? My group has no work to do and I’m getting worried.
BofA laid off AN1s 9 months in… truly brutal
For sure, juniors will be gone. I got nothing to lose protesting
What group?
Product group not levfin
Market is cooked y’all, move to RX Consulting with similar pay and way chiller people
When everyone is getting laid of your bonus will be huge and you’ll be buying discounted shares of VOO to finance your beach house ten years down the line
Thursday at exactly 12:15 pm everyone grab lunch in the cafeteria on the food ordering/serving side.
A silent show of force, where everyone can so happen to be getting lunch then.
as someone who doesn't work for UBS, I wholeheartedly endorse this
How convenient to have this on St Patricks day!
Low key probably just an Irish Analyst who wants to drink all day
I always scheduled time off for St Patty's and then the first 2 days of the NCAA toournament when I lived in NYC. I had a buddy who was Irish and ran distribution for Sam Adams in Manhattan. We had some epic times. My staffer had an annual trip with his college crew to Vegas for the first week of the NCAA's so things were always chill anyways.
I will be protesting the protest by not showing up on the 17th
100% this does not end up happening lmao. I used to work in one of the groups and know how weirdly hardo everyone is for the type of work that is being done…lot of backstabbing etc…on the flip side would be impressed if a large amount of juniors actually follow through
Yeah I heard it’s encouraged to give everyone you work with bad reviews, because it’ll make you look better
Bump
Going to be huge and make headlines
If any analyst hates his job , I would love to exchange my position with him
Any updates ?
Did anyone end up doing this?
Yes, looks like a ghost town in most groups
You’re capping
Just cause it’s spring break and a holiday
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