CS(-UBS) SA rant
Amid the merger legally closing tmr, as an SA I'm royally fucked🤗 I don't think we r gonna have any headcounts for return offers (they only picked a few MDs until now I believe), plus we r prob gonna learn very little since deal flow is basically nonexistent.
Level 6 and 7 are mostly empty – it's literally so sad to see all this cuz I chose CS for its ppl/culture.
To make it worse, '23 FT recruiting is gonna be a shitshow as well. Too stressful rn to do anything meaningful...
in the same boat. it's super unfortunate, yes, but it is what it is.
Definitely give up and recruit
Heard some interns literally left after lunch and called it a day. We all know what they were up to lmao
Those interns won’t go far with that attitude whatever which bank they are in
What do you mean "left after lunch and called it a day"?
Don’t be so pessimistic. UBS can’t do too much with CS staff especially juniors before the deal closed and that’s why they only picked several key seniors (in fact UBS has kept 100+ MDs in Asia). After Monday everything will be getting clearer so it is not necessary to pessimistically guess about possible outcome for SA—UBS may still replace some of the FT with SA to save costs.
Besides, the deal flow is also likely getting better after merger closed as the uncertainty could be partially eliminated. This is just the first week and very beginning of the internship. Just work hard and don’t give up. But meanwhile definitely prepare for re-recruiting.
Thank you so much for the thoughtful and soothing comment. Hopefully things get better next week
Do hope all the interns get treated nicely by the merged bank and get to have full time spots
Depends on the group you're in.
You're going to be competing against these interns for FT recruiting elsewhere, so show initiative and try to soak up as much knowledge/understanding as you can around the bank. Will help you stand out when talking about experience.
Really you chose CREDIT SUISSE for the culture? My brother… do you watch the news at all?
You get a sense of IB culture by reading the news?
I get a sense of company culture when they are swarmed with bad news and sketchy dealings for years…
It was generally regarded as a BB bank with the overall best culture
Have you seen the pictures of people literally shitting in the hallway and throwing it?
Man it sucks cus the culture here is actually so nice I would’ve loved working here FT
How is the deal flow for interns now that the merger is closed? Do you guys feel any work picking up?
The deal flow really depends on group—TMT FIG, and M&A groups are working their ass off on live deals and pitches. Healthcare also have something to do. While most other groups haven nearly 0 live deal and many of them don’t even show up in the office. It’s getting clearer who will likely be retained by UBS at least in the upcoming layoff in July.
are there talks of UBS bankers moving to the CS offices anytime soon, like previously reported?
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