UBS securities NY or Wells Fargo Securities NY

I would still take UBS over Wells Fargo. The bonus mess is shit, but I do think it is blown out of proportion. Bonuses are going to be small because they gave a lot of guarantees, but this also means that the MD's with the guarantees are probably not going anywhere.

uh wachovia doesnt pay either.....

Thanks for your answer. Do you think UBS will be a good place to stick around in? I have always associated them with having a lot of talent, but they have had really bad press the past 2 years. Also, what securities are they strong in. They used to be one of the best at equities... how about fi or fx?

I bash UBS all the time, but it is still a better place with a better future than Wells, in my opinion.

any possibility that recent press will lead to less hires in the future?

i hope that is true...and i hope ubs doesnt keep this whole no bonus thing going on for too long.

I think it depends on how far into the future you're looking. WF is really building up it's IB business and is looking to become a top 5 equities and fixed-income bank in the U.S. within 5 years. With its huge balance sheet it's something that could happen.

By the way, I know a fair number of kids that went to UBS this past summer and basically all of them decided not to go back. Something to think about.

UBS still has a rep problem in the US, in EMEA and Asia it is very much still a top tier bank that people are desperate to work for.

Yeah I don't think WF pays too well either... anyone know what their bonus numbers look like?

downtown, i think last year they were about average for BB's. this year we obviously don't know yet.

WF has hired some top talent and is well positioned to gain market share over the next couple years.

Pay was terrible 07-08 but last year was around average and this year is looking to be relatively very good. Have guidance of $200k bonus on top of current $150k salary (1st year associate) but wont know for sure until late this month.

So maybe you should take WF then...

I can definitely see them becoming a legit BB over the next few years (if they aren't already)

150? are you including the signing bonus? if not, that is def not right.

No signing bonus, promoted from analyst last year with 95k base. Everyone in WF Securities recently got salary bumps, 1st year associates now are within a range of around 125k - 160k base. Not exactly sure where the lower and upper bound is though.

I'm not in a place to compare firms, but I love UBS and the people there. All the more senior people I know have been nothing but wonderful. Their COO came from MS last May, and has been revamping recruiting and the SA program. On the contrary to what someone was saying above, everyone I knew that interned with UBS are going back for full time.

The trading floor is also an amazing place to work at - very open environment.