UBS reviews

Salary -- They DO NOT give raises, not even basic cost of living adjustments, unless you actually go up in rank - which is nearly impossible once you get to the Director level. This means you can go literally 10 years without a raise. It's known as the UBS loyalty tax. While they actually have a team called "FA Recruiting AND RETENTION". they unfortunately don't care much about retaining any other talent. Add to that, they are not backfilling jobs as people leave, so the work load is just astronomical and unmanageable. Unless you negotiate a big starting salary and are content with staying at that rate for years -- stay away. Also - while the senior most management is decent, they basically promote whoever based on "accomplishments" - without regard for whether they have any business managing people. Not everyone who is good at an individual contributor role belongs in management.

UBS Asset Management is a San Andreas Fault of systemic issues. The dysfunction is unlike anywhere I have ever experienced in my entire life. There's a terrifyingly large portion of the office that still believes it's 2007. There are no consequences for an employee breaking protocol. You’d be more likely to get fired for wearing shorts on casual Friday than for losing the company money. There have been significant cost cutbacks to make the appearance of being a responsible and forward thinking member of the banking community. The cuts have hit bone in certain departments. It’s not feasible to do any job effectively or accurately. Some business essential software hasn’t been updated since before the recession. You’ll use your talents to surmount these shortcomings and implement process improvements with what you have. The condescending executives, will make careless and disturbing mistakes habitually. You’ll put their confusingly immature attitudes aside and work with them anyway. You’ll even show them how to operate their own trading platforms. You’ll be rewarded at the end of the year by a conversation such as “I know UBS made $5 billion this year but you won't be seeing any of that. It’s not how it works here.” You’ll put this aside and work even harder the next year, motivated by what you think will be a one-time disappointment. You’ve held the pieces, figuratively and literally, together for a little longer. Your mental and physical health have declined. Your friends and family will “hardly recognize” you. Another year has passed. There are now permanent and complex issues fixed due to your hard work and creativity. “This is it, UBS will finally show me that it values me as an employee”, you say. Last year’s disappointments have taught you to manage expectations. With a little luck, you’ll get a small promotion or a small raise. Heck, even a cost of living adjustment will be enough to keep you going. Your review begins with a manager who you haven’t seen in the office for six months. The conversation begins, “I know UBS made $6 billion this year but you won't be seeing any of that. It’s not how it works here.” If only I had listened to that Glassdoor review from years ago.