How is UBS in 2021?
So I’ve read almost all of the posts about UBS from earlier, but still want to get a feel for what the group is like in 2021. What are their strongest groups? How are TMT, LevFin, M&A, GIG, FIG, etc? Are the SF TMT departures concerning? Are there any groups that you guys would NOT recommend at UBS? Will they continue to have a larger focus on M&A and advisory or is their long-term strategy all based around PWM?
Is comp at street levels? What perks will analysts get at the office (like meal comp etc)? What are exit ops to PE like? Is it a good place to start out and is it a sustainable place to have a long term career and to try to move up the ladder at?
and finally, bull or bear, that is the real question ;)
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The TMT group out of SF doesn’t have any MDs. Think of that what you will.
NYC group is good though right?
Lol the TMT practice was completely run out of the SF team. NY mainly did Media and Telecom. During COVID, the NY team started helping out SF with Tech due to the crazy deal flow. Now, there are no MDs in the entire US TMT practice. Only one ED remains in the SF office and he isn't staying.
bump
I think it's bump :)
following
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Levfin/Sponsors are strong, FIG is strong, Industrials seems to be growing and winning more mandates. Other groups are just okay.
bump
Agree w above, sponsors and fig are consistently strong. Fig also does not pitch much from what I’ve heard, but think the culture is tough and they’ve had some analyst turnover due to that.
The sponsors/levfin combined group is one of the most underrated groups on the street IMO, TMT was on fire...before the entire senior team cleared shop
bump- would love to hear from current analysts
Group Head's boss is trying to do everything he can to make sure there is not just a huge mass exodus of UBS TMT analysts since the senior resignation. Being a lot more lenient when it comes to workstreams but it's so crazy that we're actually still working with the MDs even though they are about to resign in a few weeks.
Let’s say I signed an offer for SA 2022 and really wanted to do TMT over everything else. Should I be worried?
They're currently trying to hire new MDs but considering several people have already left and will continue to leave and given COVID, you're basically going to be entering a new group altogether. The culture is going to be changed drastically depending on the new MDs and no one is going to know each other given the massive turnover. Extremely unpredictable: I can't even confidently say that experienced and tenured associates and directors will stay because they've spent so much time building relationships with seniors who left that it doesn't make sense for them to stay either. So in other words, the whole group is going to be new people and a whole new group. I would assume all laterals: ironically, just like in 2016, when the group first came back after the UBS-LA Moelis catastrophe.
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Have a friend in GIG who claims they win mandates and do well but also seems like a tough culture. Think they do well in auto and services
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Following up on this, would accepting an offer with the SF office be better than a small boutique or no IB at all?
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