UBS Reviews in New York City, NY
work-life balance; office culture; staff education(in 133 reviews)
Decent work-life balance, relaxed work environment, corporate perks(in 76 reviews)
Work-life balance is appalling if one wishes to get promoted(in 29 reviews)
Lack of clear strategy due to too many senior management changes(in 53 reviews)
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Pros – The technology of this bank is outdated, between the 1990's to 2000's, and the bank is far from perfect (what company is?), however instead of looking at this from a negative point of view, I saw the positive side of it. The nature of my position and the lack of resources available allowed me to utilize my creativity to the max, which also helped me improve my computer programming and communication skills greatly. The people were nice, mostly open to suggestions, and seemed to appreciate my work for the departments.
Of course, the nature of my position was made possible by my boss who was fortunately very open minded. He let me do my job independently with minimal supervision. If I have had anything less, my viewpoints would have been very different and my creativity would have been limited.
In my particular department, there was downsizing and this occurs everywhere in every company at some point or another. Thus, I can't put this as a con since this is a part of life and business restructure. Again, I looked at the downsizing as an opportunity for myself and utilized my creativity to the max to help offset the lack of resources through innovation. This is a pro because the company let me be creative, listened to my suggestions, let me execute my decisions, and overall had been very accommodating. I know a lot of people complain about the technology there (and so did I my first few months), but there are some things we can't control. I learned to focus on what I could control, and turned the negatives into major opportunities.
Cons – There are definitely cons to working at UBS. Unfortunately because of these cons, this fact had pushed me into looking for new employment about 1.5 years into the company. I am not one to criticize management or to give my personal opinion about how they should act, mainly because I do not have the full story. But I will say this:
Although the lack of resources as I mentioned above allowed me to be creative and work smarter, the lack of resources also affected my personal growth at the company. I had expected to have a small team working for me by the end of the 2nd year, and I still had no support. Think about it, if you are the only maintenance and support technician on site, what happens? You can't leave your position, ever. There would be no way for me to personally grow at this company since any promotion would indicate I would no longer be available to support my original duties.
The lack of any salary increases also was off-putting. Most people will say "but no one got a raise", or "you haven't been at the company that long" but we shouldn't think that way. Everyone is different and has different achievements and time frames. Why should I have to be at any company for even 5 years to see a promotion if my work is truly valued? I only look at my own achievements, and if the company is not giving promotions or salary increases throughout the department despite individual contributions, there really isn't much one can do but to either take it, or move on.
Advice to Senior Management – Time to be creative, think outside of the box, and don't just follow what others do because it is the safest and easiest way. Take chances, do things differently, push back when you have to, and see what great things can happen. The worst thing that can happen? No one listens to you. The best thing that can happen? You are viewed as a leader and others will follow suit. The transformation will be slow, but can happen with the right attitude!
No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company
Pros – PaineWebber was a dream company until UBS took over. Good Compensation including bonus, Good facilities, Nice Perks like on-site Gym, Reasonable Parking fees.
Cons – Kiss up Management, Tough Work-life balance. After UBS took over the company went down fast. Lot of good employees left and financially company strugglled as a result the bonuses and compensation did not keep up. The work load quadrupled.
Advice to Senior Management – Value employee opinion even if you don't agree with them. It might give you some insight and perspective.
Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company
Pros – Not so true these days but used to be a very collegial, scrappy environment. Too many good people have left.
Cons – Too many good people have left.
Advice to Senior Management – Develop a strategy that focuses everyone on core strengths and dedicate every waking minute to executing on that strategy.
Pros – Depending on the office, it usually has a very relaxed atmosphere. It has a good research department and certain analyst are actually helpful in talking to clients.
Cons – It's extremely difficult to move up. Management and Compliance first and foremost look out for themselves. The office is filled with technologically challenged old-timers which makes everything very slow and inefficient. The marketing and technology department is an absolute joke.
Pros – Work Environment, convenient commute, great for resume, flexible hours
Cons – unpaid... frivolous tasks, learned nothing, printed papers, planned personal trips, organized drawers, filed, and created agendas for supervisor.
1 person found this helpful
Pros – You get to work with some brilliant people. No two days are alike so it's never boring. There is a decent amount of global collaboration between resources in the same department but different regions. Not that layoffs are good but, at least, when they have to do one it affects all levels, not just staff.
Cons – The pressure never lets up, it's relentless. Base pay is OK but variable comp at the staff and middle management levels takes a dive every time another reputation-damaging revelation is uncovered. Company has passed a disproportionate amount for the cost of US health benefits on the backs of its employees. Company has also done away with a benefit for older workers that would have paid half their health benefits (after 10 years of service) during their retirement years. The push to offshore as much as possible is hurting the retention of institutional knowledge.
Advice to Senior Management – Please consider that your competitors will poach more and more employees as the value proposition for staying here continues to diminish rapidly.
No, I would not recommend this company to a friend
Pros – International organization with many opportunities for growth and mobility if you actively seek them out.
Cons – There are so many processes in place that the day to day business can't get done efficiently and effectively
No, I would not recommend this company to a friend
Pros – Excellent Work Life Balance
Flexible Work Hours
Cons – Everything being offshored and Outsourced
Poor compensation & Bonus
Advice to Senior Management – N/A
Pros – High quality and great culture among the junior staff (associates and analysis), however recruiting similar quality moving forward is becoming more difficult.
Cons – The bank has had very high turnover rates and is not bringing in large deals. Headcount has been significantly reduced so the work hours are quite high.
Advice to Senior Management – Everybody is waiting to see what the final vision for the investment bank is, tell the employees and the markets. The current indecision comes at a cost to morale and retention.
Pros – Pretty nice people, nice office - the name certainly looks nice on a resume, but I don't know if it is worth not getting paid or not having any exposure to anything besides a scanner or a copier. There was literally nothing financial about this internship, and the group in which I worked did not seem to know what they were doing.
Cons – No exposure to finance. Was forced to make copies and scans. Rarely sat in on meetings. Unpaid. Everybody seemed to be doing the boss's grunt work, even on an associate level. Everybody in the office seemed to be acting like a secretary, not financiers. In my time there, I rarely saw a single financial decision being made.
Advice to Senior Management – Don't hire slave labor.