Know this, Swiss: they're on to you.
UBS's bonus numbers are due out the end of February, but for the second year in a row, this has been because they've delayed both bonus communication and payouts. The idea is that many recently opened positions at other banks will have been filed by the time the Swiss bend us over with shitty comp numbers.
The Swiss are scheduled to communicate bonus numbers today. In the meantime, those working in UBS's O'Connor fund are preemptively pissed re: the news their compensation will be structured as though they were regular old employees of the bank. What are they doing about it?
Numbers for first and second year analysts (who are not happy). "It's been two weeks since UBS numbers came out and nobody wants to talk about it, for obvious reasons. Second years (base: 80k) ranging 45-65k and heard of some first years getting around 40k (base: 70k). And they could only achieve these numbers ("in line with the street") after firing 30+ analysts right before communication day."
And it wasn't just one of those giant Toblerone bars.