UBS Cadetship (2 Viewers)
- Thread starter powlmao
- Start date
Okay
1. I did not accept UBS. The offer is not as good as people make it out to be and it didn't exactly suit what I wanted.
2. Basically the process is Professional Cadetships Australia interview, they shortlist, UBS then usually cuts the shortlist, UBS does one round of interviews to their shortlist then cuts most, they then do another round of interviews after the first and then they offer.
3. I would prefer to not disclose the pay offered but it is lower than what big 4 accounting firms offer. This was all in a contract of UBS and I would prefer not to say.
4. You are bound by what they offer in the contract. Its pretty much all they offer. People would kill to work at UBS so you do it their way. You do get some time off for study.
5. It depends what you want to do. If you want to make a career out of operations in an investment bank then the UBS cadetship for you. If you are like most people who think that everyone who wants to can get into front-office positions on the trading floor then finance co-op is better. Bear in mind though that finance co-op is a lot more concentrated on marks than UBS is. UBS is looking for a person who can perform their job. Finance co-op has a heavy reliance on marks. One of my good mates is a co-op this year (however not in finance, he did get a finance interview though). Basically, the ATAR they wanted was 99+ and your MX1 and MX2 marks had to be in the vicinity of 95+ Finance co-op is extremely competitive. UBS does allow for a potential movement towards front-office, but finance co-ops and those with ridiculously high uni marks in finance probably have a better chance of getting a position.
Ask any commerce graduate who didnt do Accounting, Finance or both as majors and I guarantee you their biggest regret will be not doing them. Why? Because majors generally restrict you in job choice. Accounting and finance don't really restrict you at all as seremify said.
No. There are plenty of jobs available to people with an accounting/finance major other than accounting style jobs.
Placements occur at the end of your study (after 3 years). You get 2 or 3 placements of 6 months each. You need to keep a 65 WAM as a co-op scholar so I believe that this is done to ensure that the marks are kept.
Yeah once degree is finished. 65 is a credit, 75 is a D, 85 is a HD.
Depends, what do you really really want to do?
If you are unsure, the UBS cadetship gives you broad exposure to the operations of an investment bank.
On the other hand, if you know what you want to do (finance, accounting, marketing, information systems) go for a co-op.
If you read my post above, finance co-op is your best bet, however its extremely difficult particularly if you have not done 4 unit maths. However, thats not to say UBS would be useless for you. Although many people in investment banks have started out as accounting cadets so dont rule that out either.
Generally you have to apply in year 12. They open it to first years but firms generally lean towards year 12 students.
If 4unit maths really that beneficial ?
I really want to be able to go to uni full time. I don't care if u work full time during summer break etc.
I am know edging towards a coop. UBS I believe will want a full time worker
I really want to be able to go to uni full time. I don't care if u work full time during summer break etc.
I am know edging towards a coop. UBS I believe will want a full time worker
Yes. Finance has quite a bit of maths. People with good marks in maths are also considered to have higher learning abilities and are better thinkers, even if the maths skills are not necessarily used. Ask any investment banker. A friend of a friend got told in an interview with someone high up in Macquarie Bank that his 94 in MX2 was the lowest mark that the Macquarie guy has ever seen. It is seen as extremely, extremely important.
But firstly, why are you so set on going to uni full time and not working?
If you want to go to uni full-time a cadetship really isn't for you. Co-op is a good alternative but like I said extremely competitive.
What about ops compared to finance?? Is the level of maths different. Do u learn the maths required on the job?? Also u only receive 30k for a year full time?? I guess it is more the experience u r after then the money... Does a cadetship hold much leverage toward other financial jobs post uni if u decide to move from UBS??
As I have already said many times depends on what financial job you are going into. If it is anything other than internal and operations based roles, the leverage it gives you is very limited. Accounting cadets probably get better leverage because of their actual exposure to clients and the understand that environment. Many accounting cadets have made a successful move into IB.
At a bare minimum 96.
However, you will generally find that because of the competiveness that benchmark is closer to 97.5.
Whilst marks are important for co-op, you also need to have a lot and a lot of extra-curriculars.
http://www.coop.unsw.edu.au/future_students/downloads/files/All Programs.pdf
Its a distinction average. You can only major in finance because they make you do honours. I reckon ATAR is in the vicinity of 98.
Keep in mind its VERY competitive and finance is the most requested and they generally accept ~10 people. After the first work placement about 30% quit, even with the networking, money and internship opportunities. You have to be sure its what you really want to do.
This.
I thought finance would be exactly what I wanted to do. I learnt it wasn't and I'm not interested in it so I've changed my focus.
Make sure you know what finance entails, talk to people who study finance.
seremify007
Junior Member
For those looking to get into roles in back/mid-office with the hope of moving to front, let's not forget all the events over the past 15-20 years in terms of rogue traders and how they came to be in the positions they were in!
Omnipotence
Kendrick Lamar
Rogue traders - get rich or die trying.