UBS wealth management internship... opinions
Hello all, need some advice. I'm wondering what everyone thinks about a UBS wealth management internship. It could be pretty much bullshit work, but it is a name. Please so bashing of the UBS name, its still a BB and people on the forum are in denial. Does not matter than has nothing to do with my question. Back to original question: has anyone actually participated in this type of internship? If you have been through this internship, what is your general opinion/experience ? Do you think the UBS name will be beneficial and considered when apply for SA position recruiting next year, even though it is not an IBD internship.......
Please help me out, I am trying to find as much info as possible.
Thanks in advance
Generally, this type of internship is pretty good for a freshman. This is because it shows strong interest early on. If you are a sophomore, it is ok but there are better options. Try to consider a middle/back office position at a BB or an ibanking gig at a regional boutique. You are right in that the name is important. However, I would argue that the actual work that you do is more important and generally people know that a PWM internship is BS. That being said, if you are aggressive on the job and can get some meaningful work, it can turn out to be a great experience.
Agreed with Blago99 --I did a wealth management internship at UBS after my freshman year, and it was a great stepping stone into getting an IBD internship sophomore year. Just make sure that you're put into a great team where your advisors want you to learn and give you legit tasks, such as allowing you to address client inquiries through phone/email about their portfolios, working with Bloomberg, researching/pitching stocks, etc. Wealth management is especially helpful for S&T interviews; I found that I got more S&T interviews than IBD, even though I was more interested in the latter, so I'd say go for it unless you have better options lined up.
As a sophomore last summer I had a UBS Wealth Management internship. I was lucky in that I joined an established team, so I did zero cold calling and did some actual non-BS PWM work. I think it's all about your attitude towards the internship. I was proactive and showed genuine interest in wanting to learn, which led to more interesting work and less BS work. Overall I thought it was a great experience because I developed skillsets that are transferable to IB or S&T.
I'm in the process of junior-year SA recruiting and my UBS PWM internship is the #1 experience on my resume. I have gotten plenty of IB and S&T first round interviews and some pending final rounds/super days at BBs. So you could definitely do a lot worse than UBS PWM.
I actually know three people who had interned with UBS in the wealth management program. All had claimed that the work was bs and one was actually sent to the library one time to return the boss's books, haha. But, two of them ended up in IBD internships and then FT at BB's, and the 3rd ended up in an S&T internship at a BB and then FT in investment management at GS/MS/JPM.
Great help everyone. Thank you for your insight. just a little bit of background info: I am a sophomore, I'm not a freshman. Since I am a sophomore I wish I was able to get something, not technically better than the pwm, but an internship where I would be doing more significant tasks. But that aside, basically what everyone is saying is that if I do have the opportunity to do the ubs pwm internship, take it...? By the way it is in a regional office right outside of Manhattan, just figured I would include that. Oh and also, I am not sure how the UBS internships are structured as far as PWM goes but the internship is during the semester (2-3, full days a week), not the summer. When I was talking to the HR recruiter, she stated that the office is actually one of the busiest regional offices. Obviously NYC/CT office would be more desirable but the office I am trying to intern at is right outside of Manhattan. Based on everything I'm saying, do you think that an internship at UBS in the PWM division during the spring until beginning summer will be beneficial and put me into a more qualified person for SA IBD or S&T junior summer?
Again, thank you for all of your advice.
lol @ "PWN division"
whats so funny? It is a division within a company, why is that funny?
Hey aardvarkaa, you wanna be technical?
Employer: UBS Financial Services
Division: -------------------------------------- division....wealth management..... Wealth Management US Title: UBS - Internship Description: We are currently looking for a group of select students to work with a team of Financial Advisors in the " " Office of UBS.
Sorry to sound like an asshole but there is no need to be a douche bag.
Actually, I think he was talking about the PWN part.
yea I know that. Man, people are funny. Like that kid really cares about where somewhere is going to intern...? He is not the one who is doing the hiring, so why make fun of it?
Its PWM not PWN. :)
wow....... hahahahhahhahahha. OK, i look like a dumb ass. Sorry bout that. my bad aardvarkaa.
Putting the stupid shit aside. Anyone else have some insight or opinions?
Don't listen to what everyone else says. I did a UBS internship last summer in PWM because I had no other options due to the recession. I was reluctant to do it at first since I was a junior, but I worked my ass off and networked like crazy and I landed a BB FT IBD offer after graduation (Not UBS). Although, I agree many people know it is a bullshit internship, it all depends on how you swing it. I just made the most out of my experience and tried to learn as much as possible.
hands down, an internship in IB is better if thats what you want to pursue, but if you have no other options go for it, make the most of your experience, and work your ass off to go pursue other routes in financial services.
Good Luck.
Hmm.. I'd be careful about this whole working 2-3 days a week only. Just from my personal experience, I was working full time, and there were two other interns I knew who came in 2-3 times a week because they were also taking classes, and my advisors gave them the BS work, while giving me the 'real' work, just because I was there fulltime and could learn more, etc. You should really talk to your employers directly; ask what kind of work they need help with during the spring. Maybe talk to past interns who have worked at this particular office and ask what they did.
Thanks for your help, appreciate it. Getrichordietryin thanks for being honest. Just out of curiosity was the UBS internship in PWM a formal structured internship? like you could literally see the program on the company website.... Or was it like almost all other PWM internships.... Because the formal UBS PWM summer internship states that that program is for rising seniors...Anyone know how the PWM part of UBS works as far as recruiting/structure etc... The internship I am getting was through my school career network.
nx3l12 I didn't even think of that.. in that way.. but yea it is 2-3 days a week, not during the summer.
hey Getrichordietryin was the internship you did summer of junior year... was it the formal internship UBS offers that is for "rising seniors"....
slumdogny....to answer your question, no it was not a formal internship. It was at a local branch office and I was like 1 of 4 interns and it was very informal. However, the laxed structure gave me the opportunity to take on more of a workload and do cooler projects than otherwise expected (although it was still PWM, but still it was bette rthan anticipated.) And yes, it was my Junior year that I did it.
Anymore questions, feel free to shoot me a PM.
I did a UBS/ML pwm internship (non-regional office), followed by BB SA, followed by boutique M&A SA, and recently accepted a FT offer for a BB IBD position. A BB PWM internship on your resume is a great way to show your interest in finance and it should open doors for you in the future, so unless you can land a boutique IB internship, I say go for it.
Thanks for all your help, I really appreciate it. Great info, insight and great advice
If anyone else has been through this type of internship, any other info/comments/insight would be appreciated
UBS PWM Internship (Originally Posted: 04/04/2010)
I was offered a PWM internship at UBS. I'm a junior so this is supposed to be THE internship. I took it because I started economics late in the game and wasn't sure if I would be able to secure anything else. The day after I accepted it, I got an email from a small boutique to interview with them. I turned them down because I was so excited that I got UBS. That is... until I started talking to my friends and realized that it was a BS internship where the work is purely administrative. It's unpaid and there's no chance of a job offer after. I wrote another email to the small boutique explaining that I had made too quick of a decision and telling them that I would love to still do an interview. Although I sent an email to UBS accepting the position and filled out a necessary application, I haven't signed any contracts. I can still get out of it through a family emergency I think. Any advice?
look up renege on the search bar, it happens all the time for more structured programs and more compelling offers than the one you have... worth considering but see how the boutique reacts first
UBS wealth management internship (Originally Posted: 06/14/2010)
Hey guys, I need your help on this: What do you think of a semester long internship at UBS wealth management while I am most interested in getting into IBD? Will I learn a lot from that internship? btw, I am a rising senior. Thanks.
You won't learn a damn thing. But it's a resume filler.
Seriously? Could you talk a little more on that? Did you by any chance have any WM expereience? Thanks.
Use the search function!
Why is this in the ib forum?
Depends on what you mean a lot...resume filler for sure
im doing it now...you basically dont learn any technical skills whatsoever. mostly administrative stuff, filing, copying, faxing, sometimes printing out research reports and summaries but you dont actually write them. every once in a while the financial advisors or wealth managers may sit down with you and talk about what they do or give you a lesson on options or some shit like that...but dont expect to be doing any advanced excel modeling or anything pertaining to IB really. but it shows that youre willing to pay your dues and youre serious about finance. at least its supposed to. its okay for freshman/sophomore summer...but junior summer you should try to get into a formal program. there are some other interns i work with that are older though...i think ones in law school too...so who knows
If you're a rising senior, it's probably too late for you. UBS won't help you.
^You mean WM won't help
i did it at "the biggest brokerage firm in the world"... still did bitch work... not to mention, unpaid and i gotta pay for parking, lol but, it did help me leverage it to get other opportunities
UBS PWM Internship - Freshman (Originally Posted: 11/04/2010)
I'm a freshman at a non-target. Recently cold-called a UBS PWM office and was invited to interview this spring for a summer internship.
Any of you have PWM internship experience at UBS or elsewhere? Any tips for the interview? Any courses I should take / books I should read to prepare?
Think I actually have a shot? The person on the phone asked me for my resume almost immediately and early the next morning I was invited to interview.
You got an interview, of course you actually have a shot. As long as you're personable, you'll get it.
I did PWM freshman summer. PM me if you want pointers.
How did the phone call go?
UBS PWM internship - paid or not? (Originally Posted: 03/10/2012)
Hey WSO!
I recently got multiple offers from different UBS branches for interviews in PWM. Ideally, I would love for this internship to be paid, since that would cover all of my expenses. However, in the end I value the benefits of the internship more than the actual money. I heard that if I go the unpaid route, I have to get "internship credits" from my school. My school's econ dept is somewhat stupid, i.e. they require you to take 4 semesters of coursework in econ before you can use the intern credit. I am, however, a freshman, so this credit opp may be limited for me. How probable is it that I get paid? Also is it possible for me to be unpaid, without the internship credit?
Most likely unpaid. And it's illegal for UBS to hire you as an intern without compensation of any form: credit, money etc.
The more important question is: Are you sure you want to go the PWM route?
Last year's summer NYC class was not paid.
I'm going to a school this fall with a similar requirement to receive credit for internships (3rd year). I was planning on getting an unpaid PWM internship freshman year but I was unaware that it was illegal for a company to hire without any compensation. Is this really true for all companies?
It's illegal for them not pay you if your not receiving academic credit. That said it's most likely an unpaid position, so more likely than not they wont be able to employ you if you cant receive credit. Try contacting your registrar and see if you can make it an independent study.IMO PWM is a great experience for a freshman or sophomore, you can really learn a lot.
summer internship Wealth Management UBS (Originally Posted: 03/31/2012)
Hey, I need some advice the first day of work I will wear a suit. Do you guys think in a Summer Internship at UBS Wealth Management, I will be wearing a suit everyday or will I be able to wear dress pants and a nice button down with tie.
Your life is going to be horrible.
At my PWM internship when I was in high school, M-Th are slacks + shirt + tie (no suit), and Friday is normal business casual.
It really depends on what bank you are interning at, but you might want to ask HR about their dress code.
Depends on the office. Probably suit
Wear a suit the first day. Depending on the office and your group they might tell you to loose the jacket and tie. MIght be casual on Friday. Just feel the place out on the first week. Dress in PWM is less regulated and hierarchical than IBD.
UBS: Wealth Managment Intern (Originally Posted: 04/12/2011)
Hey guys,
I was just recently offered an unpaid internship at UBS corporate office dealing with wealth management. I am a sophomore at a non-target school with aspirations to become an investment banker. I was just wondering if anybody had any experiences with the internship or if they think it is a good way for me to network.
Thanks
idk much but it seems really nice what did you do yur frosh year? was it at some bank?
My freshman year I was employed by my university as an orientation leader
ohh ok nice! yea you can network through the inside and see if u can get that junior year IBD internship
No one networks internally through pwm unpaid to IBD.
If you would run a search you will find about 1,000,000,000,000,000,000,000,000 posts dealing with PWM internships.
That being said, if you don't have any other offers, obviously take this one, but I would keep looking for other opportunities. PWM as a soph is good, not great.
^^ not true that's how i got my gig at BAML
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