UBS Cadetship (3 Viewers)

[seremify007]

Even the finance coops might not be what most people envisioned. For such a competitive program a handful usually drop out after their first work placement.
I think its because they were chasing the cash and not realising that 9am-12am is a normal workday

True but at least it's a lot closer to the front office 'dream' which so many people seem to think of when they hear the word 'finance'.

 

[Study-Guy]

UBS are looking to place more cadets in range of front-office roles in investment banking divisions.

 

[seremify007]

UBS are looking to place more cadets in range of front-office roles in investment banking divisions.

And that is based on what?

 

[powlmao]

And that is based on what?

What is in the application on their site


Also just finished the online thing. First bit was pretty hard

When you finish it it says

Thank you for completing the Competency-based Assessment. Your Assessment will be treated in confidence by SHL and by the Business Cadetships selection panel.

Remember that in order to determine whether you will proceed to interview, the Business Cadetships selection panel will consider all three parts of your application.

We will contact you by email by Thursday 24 May to let you know whether or not you have been successful in gaining a first round interview with Professional Cadetships Australia. Be sure to check your email regularly, as the offer of an interview will require an email reply from you.

Interviews will be held in the city from 30 May.

 

[seremify007]

It explicitly says that they are planning to place cadets in front office? Wow that's a significant change to business cadetships in years gone past.

 

[powlmao]

.

Here
The Companies
In 2012, UBS is offering cadetships under the Business Cadetships Program.

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You’re full of energy and ideas. And that’s just what we’re looking for.
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UBS draws on its 150-year heritage to serve private, institutional and corporate clients worldwide, as well as retail clients in Switzerland. Its business strategy is centered on its pre-eminent global wealth management businesses and its universal bank in Switzerland. Together with a client-focused Investment Bank and a strong, well-diversified Global Asset Management business, UBS will drive further growth and expand its premier wealth management franchise. Headquartered in Zurich and Basel, Switzerland, UBS has offices in 57 countries, including all major financial centers, and employs approximately 65,000 people. Under Swiss company law, UBS is organized as an Aktiengesellschaft, a corporation that has issued shares of common stock to investors. UBS AG is the parent company of the UBS Group (Group). The operational structure of the Group comprises the Corporate Center and four business divisions: Wealth Management & Swiss Bank, Wealth Management Americas, Global Asset Management and the Investment Bank.
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Our Company
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Wealth Management & Swiss Bank
Wealth Management & Swiss Bank focuses on delivering comprehensive financial services to high net worth and ultra high net worth individuals around the world – except to those served by Wealth Management Americas – as well as private and corporate clients in Switzerland. Our Wealth Management business unit provides clients in over 40 countries, including Switzerland, with financial advice, products and tools to fit their individual needs. Our Retail & Corporate business unit provides individual and business clients with an array of banking services, such as deposits and lending, and maintains a leading position across its client segments in Switzerland.
Wealth Management Americas
Wealth Management Americas provides advice-based solutions through financial advisors who deliver a fully integrated set of products and services specifically designed to address the needs of ultra high net worth and high net worth individuals and families. It includes the domestic US business, the domestic Canadian business and international business booked in the US.
Global Asset Management Global Asset Management is a large-scale asset manager with businesses diversified across regions, capabilities and distribution channels. It offers investment capabilities and investment styles across all major traditional and alternative asset classes. These include equities, fixed income, currency, hedge fund, real estate, infrastructure and private equity which can be combined into multi-asset strategies. The fund services unit provides professional services including legal fund set-up, accounting and reporting for traditional investment funds and alternative funds.
Investment Bank
The Investment Bank provides securities and other financial products and research in equities, fixed income, rates, foreign exchange and commodities. It also provides advisory services and access to the world's capital markets for a broad range of clients including corporates, institutions, governments and financial sponsors as well as wealth management clients and financial intermediaries.
Corporate Centre The Corporate Center provides treasury services, and manages support and control functions for the business divisions and the Group in such areas as risk control, finance, legal and compliance, funding, capital and balance sheet management, management of non-trading risk, communications and branding, human resources, information technology, real estate, procurement, corporate development and service centers. It allocates most of the treasury income, operating expenses and personnel associated with these activities to the businesses based on capital and service consumption levels. The Corporate Center also encompasses certain centrally managed positions, including the SNB StabFund option and (starting with the first quarter 2012 reporting) the legacy portfolio formerly in the Investment Bank.
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Opportunities
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UBS offers an exciting, fast-paced environment and a distinctive working culture that fosters open-mindedness, teamwork, respect and mutual support. Cadets will join a logistics & control function, responsible for supporting UBS investment bankers, salespeople, traders and research analysts in the generation of profit for UBS clients around the world.
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Cadetship opportunities are offered in Finance and Operations.
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Finance provides financial control across the whole of UBS. The function produces and analyses regulatory, financial and management accounts and reports. The financial and management accounting policies implemented by finance provide a robust framework, which ensures UBS meets statutory obligations and promotes sound practices. Cadets will gain exposure to a broad array of finance disciplines including accounting and financial reporting, business unit control, tax management and accounting policy.
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The Operations business area ensures UBS' deals are settled swiftly and accurately. Operations professionals work with systems, processes, clients and third-party settlement organizations to create a lean but controlled infrastructure. The roles within Operations are diverse. Areas of focus may include business analysis, relationship management, risk control or change management.
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In addition, we are pleased to announce that UBS will be looking to place cadets in a range of front-office investment banking divisions.

Cadets will rotate through a number of different client-facing divisions, including Global Asset Management, Wealth Management, Fixed Income Currencies & Commodities, Equities Research and Equities Sales & Trading.
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For more information, visit www.ubs.com
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From their site
www.professionalcadetships.com.au/bc_companies_2011.asp

 

[Study-Guy]

It explicitly says that they are planning to place cadets in front office? Wow that's a significant change to business cadetships in years gone past.

What was it like in previous years?? and what is your understanding of 'front office' roles?

 

[Meshy590]

just a questions regarding the actual test: is there a time limit?? and is there a time limit for each question???

 

[Omnipotence]

Time limit overall.

 

[seremify007]

What was it like in previous years?? and what is your understanding of 'front office' roles?

Anything which actually makes money.

Previously it was confined to portfolio reporting, risk management (layer 1/2), and other back-office (i.e. operations) roles. And accounting.

 

[Study-Guy]

Does anyone know what the full-time and part-time salary is like?? Just wondering, obviously the experience is priceless.

 

[powlmao]

Does anyone know what the full-time and part-time salary is like?? Just wondering, obviously the experience is priceless.

~$35k

Money isn't a reason to do a cadetship though

 

[Study-Guy]

Yea i know, but it is good to know what you are getting yourself into.

 

[Omnipotence]

~$35k

Money isn't a reason to do a cadetship though

Nope. It's worth every penny if they work you like a donkey.

 

[Study-Guy]

Quick Question for Seremify, what majors would you suggest for a commerce liberal or international studies degree. I was thinking Finance and Accounting but i am not sure whether those are too generic? what are your thought??

 

[BiancaC]

I was offered a UBS cadetship last year to start this year.

Lets just say that there is a hell of a long way to go in the process and from reading what you have said, you will get quite a few surprises in the process.

 

[BiancaC]

For the UBS cadetship
- They usually offer around 4 cadetships all up (2 in each division). Sometimes they may offer more.
- The pay is lower than the figure posted in the forum
- You work full-time for the first few years and go to uni part time. After a few years (usually at least 2) you go to full-time uni and work 1-2 days a week. You don't really get to specify your working hours, particularly considering they only take 4 people and hundreds of people apply.
- From what I understood, you aren't really rotated. Whilst a cadet, you are middle-office (finance/accounting) or back-office (operations)
- It MIGHT slightly help you get into front office, but finance coop is a far far better option.
- I'm not too sure if they actually plan on putting cadets in the front-office. Why would they get kids playing around with hundreds of millions of dollars?


Not to be critical, but make sure that you understand this cadetship does not entail you going straight into a front-office finance job. It is a wonderful opportunity and they treat you very well at UBS as long as you are motivated to do the work in the division that you will be in. People make life-long careers out of being in the back office at places like UBS. They find it very rewarding. It can provide leverage for the front-office but just make sure you understand exactly what is involved and that you sound prepared to do all this work very well in the back-office.

 

[Cl324]

Anything which actually makes money.

Previously it was confined to portfolio reporting, risk management (layer 1/2), and other back-office (i.e. operations) roles. And accounting.

Cadets basically do similar things regardless of offices. I love the use of 'client facing' division. Makes it sounds like cadets will be in 'client facing' roles.
There is a big difference. Even at entry level, front office jobs entail editing powerpoints, pitches, excel data and other mundane paperwork. There is no way in the world they would let high school graduates interact with clients or entrust them with any money at all.

 

[Study-Guy]

For the UBS cadetship
- They usually offer around 4 cadetships all up (2 in each division). Sometimes they may offer more.
- The pay is lower than the figure posted in the forum
- You work full-time for the first few years and go to uni part time. After a few years (usually at least 2) you go to full-time uni and work 1-2 days a week. You don't really get to specify your working hours, particularly considering they only take 4 people and hundreds of people apply.
- From what I understood, you aren't really rotated. Whilst a cadet, you are middle-office (finance/accounting) or back-office (operations)
- It MIGHT slightly help you get into front office, but finance coop is a far far better option.
- I'm not too sure if they actually plan on putting cadets in the front-office. Why would they get kids playing around with hundreds of millions of dollars?


Not to be critical, but make sure that you understand this cadetship does not entail you going straight into a front-office finance job. It is a wonderful opportunity and they treat you very well at UBS as long as you are motivated to do the work in the division that you will be in. People make life-long careers out of being in the back office at places like UBS. They find it very rewarding. It can provide leverage for the front-office but just make sure you understand exactly what is involved and that you sound prepared to do all this work very well in the back-office.

So did u accept at UBS?? If not, why??

What interview process did they operate last year??

If it is not too rude, what was the pay they offered?

You work full-time for the first few years and go to uni part time. After a few years (usually at least 2) you go to full-time uni and work 1-2 days a week. You don't really get to specify your working hours, particularly considering they only take 4 people and hundreds of people apply. - Is that all they offer or can it vary??

Would you recommend a finance co-op over this?? Also does this not allow for a potential movement toward front pffice after graduation??

Sorry for all the questions.

 

[seremify007]

Quick Question for Seremify, what majors would you suggest for a commerce liberal or international studies degree. I was thinking Finance and Accounting but i am not sure whether those are too generic? what are your thought??

You can't go wrong with Acct/Fin. It'll keep you well fed and is a good choice if you don't have any other inclination. That being said why Comm Lib or Int'l Studies?

Cadets basically do similar things regardless of offices. I love the use of 'client facing' division. Makes it sounds like cadets will be in 'client facing' roles.
There is a big difference. Even at entry level, front office jobs entail editing powerpoints, pitches, excel data and other mundane paperwork. There is no way in the world they would let high school graduates interact with clients or entrust them with any money at all.

That being said, accounting cadetships really are client facing. But that's a bit outside this topic of front/back offices.