I bet you thought things were looking up at our favorite Swiss bank in town, didn’t you? ‘Cause senior bankers’ salaries are being raised 50 percent, a largess that may extend to “less senior” employees’ salaries, if they play their cards right? Well WAKE UP, ladies. This bone is being thrown to (unsuccessfully) make up for something so much worse.
Chief Executive Officer Oswald Gruebel also said the bank will make savings from cancelling employee benefits. In Switzerland he scrapped car leasing benefits, season tickets for trains, contributions toward gym memberships and free parking.
I mean…what’s the point anymore?
Bess, it won’t be long before Tina Fey starts cutting into your pie with her dealbreakers.
“I don’t need a silver bowl and a book about Salomon Brothers. Just give me the money.”
S U C K A G E !
what about lucite, do they still get lucite???
-JPM
Damn, how do I get me some of that free parking, train passes, gym membership, that’s an extra night or two out on the town (hustler club) a month!
Porker Stansberry is also very perky.
This guy Gruebel just gets the new reality is all. They need to take drastic measures at that place, it is the titanic of financial firms. YOu and US, sucking a**, UBS
“Season tickets for trains”??
That’s no way to talk about the Mets….
5 A lot of that stuff started at a time when tax rates in those countries were severely progressive and taxing authorities ignored the value of perks. That is, income > US$50,000 or so was taxed at marginal rates of over 50%, so firms looked for other ways to compensate their high earners. With tax reform (you can’t get away with not reporting the perks) and generally flatter tax rates this doesn’t make as much sense as it used to. So get rid of these perks, which are probably just a habit at this point.
No free parking!? I think I also read that they’ll be cancelling employee trips to the Boardwalk, which will save UBS $50 per employee, or $2,000 if it included a hotel stay.
Dont forget, for WM US Home Office employees:
- Elimination of Free Coffee except for a few people (traders and call centers only)
- Elimination of Free Ferry to Lincoln Harbor (now $75 fee)
- Parking Increase ($55- $75)
- Cardboard box in café ($0.15)
- Increased café food prices
The big joke is all about the Wolfgang Puck coffee vending machines…
LLLLLUUUUUUUUUUCCCIIIITTTEEEEE!!!!!
sorry, all better now
supposedly all non officers did not receive any bump in salary…can anyone confirm if they are an NO and received a bump? we are hearing some did, this place…..
some non-officers/mds got bumps
1st year associates got bumped to $130k I am almost positive. Have not heard anything from my buddies back at UBS on the analyst leve.
hmm, we have md’s saying firmwide, not one non officer was bumped up, only AD’s and above.
NO & AD brackets went down at the high end. D, ED & MD brackets went up.
NO & AD brackets went down at the high end. D, ED & MD brackets went up.
Re: 16. False. Non-officer here in equities (associate) and zero increase.
fixed income associate here, just got the ol’ you’re lucky to have a job here speech, no bump. anyone else??
fixed income associate here, just got the ol’ you’re lucky to have a job here speech, no bump. anyone else??
fixed income associate here, just got the ol’ you’re lucky to have a job here speech, no bump. anyone else??