4/13/08

I have a few questions about this group since it has been labeled a sweatshop and people say it doesn't retain many analysts past their first year. I'm interested in Healthcare and am strongly considering this group, so I would be extremely grateful if someone in UBS Healthcare or someone at UBS could answer the following:

1) Is this true? What makes this group so tough? Is it just the sheer amount of pitches/live deals that you work on?

2) Do you get adequate technical training in this group? Or does the group just push off all its models to M&A, etc.?

3) What do the hours tend to be like in this group. I've heard they are brutal.

4) What's the group culture like? From fellow analyst to MD, are people easy to work with?

Thanks in advance to those who answer.

Comments (16)

4/13/08

OP - I've met many ppl from BB's who are in Healthcare at their banks.

You WILL develop excellent skills in modeling. Ofcourse, there is moderate activity in healthcare most times of the year but is NOT entirely Recession proof, so keep that in mind. But, HC does tend to be among the industries where there is always activity going on.

Also, most Healthcare groups execute their own deals becuase HC is a bit more of a esoteric and recondite space therefore they dont gnerally source it to M&A. Most Healthcare groups at BB's execute their own deals which is great because you get to work with different products: equity, debt, m&a, etc.

I hope this help!

Investment Banking Interview Course

4/13/08

UBS HC is a major sweat shop. apparently lorello is a maniac

4/14/08
iambateman:

UBS HC is a major sweat shop. apparently lorello is a maniac

This is the driver for the pain of that group. The EU team is into the funkiest most random emerging markets stuff you could ever think of (egyptian generics anyone?!). I served my time there. Was at the US offices once, prior to a big conference put on by UBS, it's the weekend and the office is filled with MDs...I get that working hard is important in banking, but bloody hell, if you have to work on the weekend when you're an MD, work from home!!

The culture of the group is work hard for Lorello and he will look after you. He is a workaholic so the group suffers. You learn a lot, and do pretty good deals, but it is pretty tough. Thing is, we always used to say, all nighters are normal in banking, UBS healthcare has a knack for turning 1 night into 2 or 3..

4/14/08

1) UBS does lots of tiny deals, and when i say lots i mean ~70 yearly last time i put together a league table. thus, they pitch a ton and do plenty of deals to complement it.

2) it's a good group in terms of dealflow, which is how you'll learn most of the important stuff

3) 80+ easy, expect 100. one word: sweatshop

4) no idea about the culture.

if you want more information about healthcare anywhere i'd be happy to talk to you.

4/14/08

thanks alot m0nk3y

anyone else have an idea about the group's culture?

6/22/09

Analysts working in the UBS's personal sweatshop will feel they are a modern day "Oliver Twist" after their first few months there. The CAO (analysts would refer to her as the "Foofah from Fort Lee" and the "Birkenstock Bitch") of the sector is an imbecile dyke who gossips and babbles more than keeping her staff sane and happy. Sleep is something that will become scarce as all-nighters become more common each month. During some evenings and on weekends, analyst recruiting events occur every now and due to the fact that bankers exit constantly. I recall that one analyst quit after a day! That's how bad they treat those newbies who arrive fresh from college.

Otherwise, the office looks like some outsourcing office in Mumbai as many Indians (from India, and not Indian-Americans) are hired by the firm, more so than African-Americans, Native Americans or Latinos. Yep, all those stories about discrimination at UBS all have a foundation to stand on. European firms are notorious in keeping the Aryan tradition (and hiding Nazi gold stolen from the Jews) alive.

Lorello is a perfectionist and there is nothing wrong about that. He wouldn't have gotten to where he is if he thought differently. While tough, he is reasonable. He thinks inside the box, not outside. His exit marks the end of an era for UBS as now they only have imbeciles paddling through the storm of financial uncertainty. Ben, if you read this, I SALUTE YOU!

To former junior bankers who are no longer employ at UBS (aka "Union of Bigots and Sexists", aka "Union of Bull Shit"), I salute you as well as you survived the storm and have moved on. Never look back at the negativity from that place, but look forward in obtaining success and MOST IMPORTANTLY, treating people with the kindness and respect.

The main thing I learned from working there is to appreciate those who work behind the scenes in order to keep place in order. Appreciate the guy in the cafeteria, your assistant, even the janitor. I guarantee you you will not only have dignity, but you will realize that there are more important things in life than $.

6/22/09

Not really - hc very balance sheet focused, and UBS has shied away from these type of deals (at least in HC) recently

speed boost blaze

6/22/09

torchic:

Not really - hc very balance sheet focused, and UBS has shied away from these type of deals (at least in HC) recently

what does "balance sheet focused" mean?

6/22/09

Fundamentally Undervalued:

torchic:

Not really - hc very balance sheet focused, and UBS has shied away from these type of deals (at least in HC) recently

what does "balance sheet focused" mean?


typical take stake in RC/TL, get piece of bonds/equity/other deals

heavy on committed capital brah uknowwhatimsayin no ragrets yolo

speed boost blaze

6/22/09

I know of an analyst there that transferred out of HC internally as soon as he could and the SA's I know for this year avoided it like the plague after the sell day for group placement. Thats on the culture side, don't know anything at all in terms of dealflow

6/22/09

Interested in this as well.

6/22/09

bump?

6/22/09

I'm interested in this as well -- was just contacted by UBS recruiting for IB healthcare associate position, would be good to know if it's worth pursuing. I have no direct IB experience and no MBA, not sure if they're just really looking for some new blood.

I'd appreciate a PM from anyone that knows what I can expect as far as the screening & interview process?

6/22/09

bump...

6/22/09
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