UBS/DB: Can we settle this?

I've noticed that UBS/DB both get so much shit from all over this site, but it seems like when I talk to folks who work on Wall Street and at several different BBs, they always talk about how they're still very respectable firms with good culture and people - great places to start a career for an ambitious 22-year old, even today. 

Is all the hate on this website justified? Is it not? What are your experiences at these banks and/or working with these banks? I accepted an SA offer at one of these two banks. 

Also: Please don't comment on here if you're in high school, freshman/sophomore, or not working yet in financial services. Thanks.  

Comments (6)

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  • Intern in IB-M&A
Dec 4, 2020 - 7:56pm

Are they respectable firms? Yes. Anyone on this website who says otherwise is full of it, or they're perpetuating a load of crap since they are in love with the idea of prestige. Those banks may not place as well into MF PE as other banks, but it's simply because you're intermediating more gigantic deals at other banks that have a "better" reputation (depending on group placement of course. Some groups, like the tech group at UBS, will likely place better than some of the "lesser" groups at top banks because the UBS tech group has a phenomenal legacy). 

It's all about the exposure to deals that you get. Some people at DB/UBS will still make it to a place like Carlye or KKR, but it's a much lower chance than other places like GS/MS/JPM/LAZ/EVR/PJT or whatever because of the insane exposure they get to famous megadeals. If your preferred choice were to be in banking forever then it wouldn't really matter - you'll be doing the same job at any bank, but perhaps closing more deals/pitching less because of the name. For example, GS hardly pitches because MANY firms come to them simply for the GS name (and they'll only work with GS, no matter how high the fees compared to competitors). 

That being said, again, it only matters what your goals are. If you want MF PE then other banks are easier to recruit from (depending on your group), though it's not impossible from DB/UBS. If you want to be a career banker then it doesn't matter - culture at the bank/how you fit in matters most. However, given how crazy it's been at DB in terms of hiring/firing, I'd definitely be sure to continue networking JUST IN CASE they do more layoffs/choose to not convert many SAs (if that's the bank you're going to). DB has been laying off tons of people over the past couple of years, and if I remember correctly they didn't handle the COVID situation well at all (didn't give their SAs any update until it was very last minute, stuff like that). 

  • Analyst 1 in IB - Cov
Dec 4, 2020 - 9:08pm

What are you smoking lmao all the BBs do a lot of pitching, primarily because the gap between them isn't as big as prospects think, looking at it from a client perspective. 

  • Analyst 2 in IB-M&A
Dec 4, 2020 - 8:06pm

Ubs may as well be United Bank of Pitching.  So much pitching here its driving me crazy.   

  • Analyst 2 in IB - Cov
Jan 4, 2021 - 12:29pm

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