UBS Return Offer Rate
Anyone have further insights on what things will look like this year?
Anecdotally heard last year was very group dependent (GIG 90%, M&A/Sponsors closer to 40%). Any past data points on other groups?
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UBS doesn’t always honor offers and has been known to push back offers/ starting dates if bussiness needs require it
Like when they forced half the 2023 class to defer their offer by 7 months (internationals started on time though).
Congrats on UBS!
Get the offer and get out of dodge
Would not wish UBS M&A on my worst enemy. Crying and health issues from overwork are effectively normalized, all for no exits and no deal flow. The only thing the group is good at is convincing interns to join because of the "heavy modelling" and "live deal reps". Little do the interns know it's just modelling out 100 scenarios no client ever wanted for a "deal" that has no chance of ever happening.
I heard they give hard modeling tests that all the MDs would fail if they had to take them
I am confident some of these senior MD's forgot how to use excel, so this is not saying a lot, but yes modelling tests are used.
The real issue is that outside of a few senior MDs, almost nobody in UBS M&A owns relationships. So every director, ED, and junior MD is trying to justify their existence on teams by generating niche analysis that gets rarely used in decks or sent to clients as an effort to be "value-added". This makes recruiting out a nightmare since you spend so much time on niche technical analysis that you don't get much actual deal experience or understanding of businesses to talk about.
That’s true for multiple groups - M&A, M&T, FIG are all not good
~60% in FIG last year
Any idea where LF was?
~70%
Analysts are not treated well at UBS and the culture is deeply broken. It’s not worth it.
Try to get a return offer, but focus on lateraling to a different bank for full time.
The ones who do get the return offer and return to work at UBS are the unlucky ones.
Considering current talent crunch, I think if you do not prove to be mentally impaired as an off cycle, you should get the offer
Unfortunately not true; many groups intentionally underhired due to greed
Thanks Marco
Any numbers for ECM / DCM / LCM?
Do anyone have an idea if all the UBS hate applies to London (really any offices besides US), or if it’s mostly an American problem? I imagine the hours are slightly better in Europe
Afiak UBS EMEA and APAC is doing fine, tho obv not thriving since the rot runs deep with bank management, etc
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