As you may have heard, lots of people have been leaving UBS lately, which may have something to do with the fact that people would like to get paid. While a handful of marquee names (within the industry) have been lured with big checks, many senior bankers have heard nary a peep re bonuses in several years (and the staff’s pay overall is nothing to write home about, either), making employment with places like Citi look good. Possibly seeing recent defections to Vikram’s House of Kicks as one indignity too far, management tried to put a stop on the exodus late yesterday.
FYI, UBS just gave base raises of 30-40pct for most of the I-bankers and capital markets employees to try and and stay competitive with market pay.
If that doesn’t work it’ll be back to tough love.
You sure about that?
“Defections” not “deflections”, other than that I have no problems
So if I work in New York doing bitchwork for bond traders does that mean I get a raise just like the people in the Capital Markets?
It is so gonna suck ass if my buddies in D.C. get a raise and I don’t.
U.B.S. Junior Rainmaker
U’ve Been Sucked
Sincerely,
HR
UBS
“It is so gonna suck ass”So what’s new?
too easy bro
Yes. Any other brain busters?
The key word being “most” which in UBS speak could me 30 guys.
Leaving UBS for Citi is like moving from Detroit to Cleveland and being pumped about it
That´s it boy, I second that
I would never start to work for both !
Right because working for both would be very difficult time management-wise.
Right because working for both would be very difficult time management-wise.
Right because working for both would be very difficult time management-wise.
UBS is this year’s Nomura, overpay-hire / underperform… 2nd tier talent is worthless, they should just close down every office west of London and pay their shareholders a dece dividend.