UBS Return Offer Rate
Title - some conflicting opinions here and would appreciate transparency (by group, DEI/non-DEI, etc)
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Low all around
The bank is probably gonna RX sometimes this year or the next as guartneed bonuses for the crappy Barclays seniors run out. Unless MV gets lucky and the CS/UBS people bring in fees much higher than expected, he's also gone. Fewer seniors means less need for juniors, which means low return rates for Summer Analysts. Basically, if you aren't in one of 2 groups of LevFin and industrials that just have ample flow, you're rate will probably be horrendous because those other groups will probably be downsized at senior levels. I am not including sponsors here on purpose; they are a weird group in terms of structure since they, to some extent, depend on other groups for coverage efforts.
To put into context how screwed MV is: he pitched the leadership saying UBS would be the 6th best bank in the America's... UBS is outperforming in Q1 2025 and is 10th or so compared to 2024, where they were closer to 15 to end the year, despite that they have roughly half the total TV of number 6 in a good quarter for the franchise. It is absolutely over if you're that far away from your goals in a good quarter for you.
do you feel if, least for summer 2026, this is going to a “your offer to lose” or a impacted by external factors you can’t control type of situation for summer analysts?
It's always your offer to lose... since rates even in the worst years are going to be over 50%. If you're a top-tier intern, you will always get a return, this isn't a CS pre-acquisition situation where everyone knew the firm was going to die and return rates were basically zero.
I will say though for UBS in specific think group will matter a lot for return rates. Some groups are clearly chugging alone fine or even better than expectations (LevFin, Industrials, to a smaller extent CR) that will most likely have great return rates, others that are roughly in-line with expectations given investments or slightly underperforming them (HC), and others who are dumpster fires and way below where management would like them (Tech, M&T, FIG, and RELL). The more down the tiers you get, the worse the return rate chances and the worse analyst experiences you will get. Not putting sponsors in here because it's a weird group and functionally a spin-out of LevFin anyways.
Rumor there are discussions on rescinding offers for this summer. It’s not gonna be good
No way this is accurate
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