UBS LA and West Coast Offices Vs Citigroup...

will work you like a bitch all summer long. That office is notorious for being a sweatshop. However, it is top-3 on the street. You decide if that's worth the trade-off.

I spent my 2 years at at BB in NY... I didn't hear much about UBS LA other than it was a great place. Is it pretty well known among Hedge Funds? How about if she is looking to switch to a NY BB for full time?

If she gets a FT offer from UBS LA after the internship, she can (almost)leverage it into an offer from any group at any BB she wants. Know a kid a few years back who interned at UBS LA and then took a FT position at MS NY--with no hassle, he went straight to final rounds.

Yes, UBA LA is well known among HF's.

street cred is along with GS TMT, MS M&A

Everyone one I know that's gone through the summer program has done extremely well, whether they returned after or left to NY.

Thanks guys.

So you would say that UBS LA postitions you better in the long run than Citi M&A? Especially for PE and HF?

BUT when you are talking about top groups on the Street, they come nowhere near the top 5.

If you definately want to go to PE/HF after, its UBS-LA.

If you want to have an international career in banking (i.e. different offices globally) - then its Citigroup.

Everyone has different choices of career - not everyone necessarily wants to be in PE or HF and vice-versa.

Simple as that.

M&A is M&A.

UBS LA since they had a bunch of guys leave for goldman a couple of years ago is very particular about summers accepting their offers. I would not reccomended going there for a summer to "leverage".

Why would that matter? How does that affect one's ability to leverage?

you can still leverage it but you have to accept the risk of not having an offer to fall back on.

One of the UBS LA groups you work in as a generalist is M&A. There's FSLF, M&A, Media, Tech, Gaming out of that office. Gaming and Media have been on a tear this year as well (Univision, Harrah's etc)

They can also put pressure and make you feel uncomfortable. This summer, they had seven out of ten summers accept before school started. Point being--brutal hours, great group, but don't mess around with them. If you just use them to leverage, it may not work out the way you're looking.

Obviously a great group, although I hear the culture is miserable and the hours are worse than any firm/group in NYC..which is a shame since you're in California and never get to go outside!

7/10 of the summers really accepted? Cause I know neither of the 2 Penn guys that summered there are going back (1 is doing consulting, the other is going to Evercore Partners) and I thought they had a hard time retaining their summer interns.

As for exploding offers, most target schools have policies prohibiting them. It's certainly true that the firm can still put pressure on you, but if you summer at a place like UBS LA you should be able to explain your situation to other banks and receive early interviews. As for going straight to final rounds, I find that hard to believe unless perhaps you tell them that you are receiving a lot of pressure so they expedite your interviews. I summered at one of the "top" places, went back to interview with 2 banks and 1 HF, and had to start in the first round like everyone else. I know a few of the banks have formal early interview processes (in August), but even if you choose to do this, you still have to have a first round interview..you don't just go straight to final rounds.

Also, I would imagine you'd be more likely to receive pressure to accept your offer after the summer from UBS LA than Citi, since UBS LA is a small office and they're only recruiting at a few schools, so they want to know ASAP who's coming back. Whereas Citi's analyst class is huge and they recruit at a bunch of schools so this is probably not as much of an issue. Also, being a regional office, UBS LA may be less inclined to follow your school's protocal since they only have 1 or 2 students from a given school so they're not going to get in any trouble by the school for pressuring such a small number of students (they're under the radar). This of course is only a problem if you're just going to intern there to leverage it into something else.

If you have no interest in actually working for UBS LA full-time, I wouldn't go there for the summer. It's a better choice than Citi obviously, but if you don't want to be in LA and don't think the insane work environment is for you, go to Citi. After summering at Citi, you will certainly be able to get interviews at GS, MS, and probably the top boutiques also if you have a good GPA too. UBS LA is a more impressive internship than Citi, but at least from what I saw in full-time recruiting, that will only be significant if you're trying to go straight to tier 1 PE after your summer analyst stint. Goldman and Morgan have large analysts classes and plenty of spots open after the summer - you should be able to get an interview there easily after interning at a BB like Citi (this is assuming you're at a target school). I have friends who interned at Bank of American and Jefferies, and they are going to GS full-time. As for the top boutiques, they interview less people, but if you have a solid resume otherwise plus Citi experience, I don't see why you wouldn't be able to get an interview with them as well.

The Wharton kids this year were both Jerome Fisher if I remember. One didn't get an offer back -- went to consulting (BCG LA), other went to Evercore. One kid went to UBS Chicago as well.

Everyone else re-signed from what I know. The year before everyone re-signed but one guy from Ivey who went to GS Calgary. Pretty good summer return rate nowadays..

Completely agree with Dav3100s post otherwise.

Just to clarify for anyone who cares, Jerome Fisher is the dual degree program between the Engineering School and Wharton..it's pretty intense.

I didn't realize one guy didn't get an offer.

impressive.

of UBS LA is they started giving UBS NY offers to UBS LA analyst that didn't get offers back. I heard one of the summers this year got into UBS M&A when he lost out on the return offer for LA.

I heard this second hand, but from a very reliable source.

usually have to have had a summer process halted by an exploding offer tho, and would have to have a superday invite before the exploder. Probably why people think that a lot of the UBS LA summers went 'straight' to final rounds. In reality they just continued the process they didn't get to finish.

Also those that get fast track interviews at Goldman and are not in NY to take the interviews, but did get to superday before the exploding offer often get to skip the first round in that process as well.

Hank,

So you just had a one interview? My friend did the accelerated process at a bank, but he said he had to do a first round interview (in August though). I was pretty sure that the "accelerated" process was just accelerated in the sense that you got to do both of your interviews earlier, not that you got to skip the first round interview.

Jeeez..that's impressive...no banking internship + non-target and they got you in for an early interview and skipped the 1st round. I'm going to have to say this is highly unusual, so no one else should count on this happeing to them lol.