UBS reviews

Terrible structural problems. Very Low Morale. High Turnovers. Long Hours. A "poppies that stick out get chopped" mentality. Senior managers are really cold and calculative. Company is highly political. All the good senior manager who actually care about people were all slowly forced to quit in my department in the last 3 years, as certain political camps won out (department and geographical merging to cut costs). A massive trickle effect downwards to manager and junior managers is easily apparent. Most are cynical managers really abusing (passively I mean) their staff, rather then fight senior managers for work-life balance or even fair compensation. Mentors often advise (be less "cheery" and avoid being "noticed" and to be "fortunate" to have a job) An unfortunate result are genuinely nice people are literally quietly begrudging walking dead. Angry, peeved off, but desperate to keep the jobs. Senior managers takes advantage of this.... Example: Recent promotions (with 1.5-2x the responsibility) are rewarded with pay raises less then 5%. This is not an exaggeration, with 5% at the upper range (with also a very low starting base to begin with). I and a few colleagues have declined the promotion. But, I suppose they served their purpose of "trying to promote". All other staff have pay raise freeze for all others (some colleagues saw no raise for the past 4 years). Therefore real earning wages has actually declined year on year. For my market that actually is a decline of 12-16% of real income after accounting for inflation. Previous years 2013-2015, a strategy of "natural attrition" was employed to reduce headcount by "freezing" almost all promotions (on top of pay). A good point to note, that strategy was effective in pushing some folks out. But us average individuals with limited prospects in a tightening market... it is very disheartening to see good friends leave and replaced by very young, very inept graduates (if they choose to replace staff at all)