UBS Milan Middle Market - Thoughts?

Assumming you are interested in Milan I understand you also attended Bocconi, so I will emphasize some of the points:

- Strong culture: Tight-knit team, with high respect and strong hierarchy - Strong alumni presence may help to have common touch points with analysts 

- Most mandates coming from internal AM/WM clients which used to be around 200M€, may have changed tho since Covid

- DDs are made in-house, dont expect pure M&A - You work on the whole transaction and this keeps to lowering fees charged to clients

- Short hours: Dont expect IB hours, everything goes at slower pace, as clients are less demanding and deadlines are usually longer

- Pay is low: Expect a low wage, similar to other Italian banks / MMs

Usually no headcount for conversions, you can get fast-tracked to London office which is actually quite good as some other banks do not offer this in Milan

Even if Corporate Advisory Group is not traditional M&A most interns do get offers in London at BBs/EBs after this experience due to branding of UBS. Its more helpful than doing an internship at Unicredit or other Italian or French banks

Its a great step to secure an internship here in between your BBA and Msc, but competition is fierce so prepare to get grilled on technicals and DD related questions on top of typical M&A ones