Exactly why I said its varied and is up to the discretion of UBS. Because of the very small number of cadets, the structure is varied usually on a per person basis.
For the record I don't actually work at UBS, I did not accept my offer.
I don't even work at UBS but I'd be willing to bet its the exception rather than the rule. I wouldn't be counting on it especially after all that has happened in recent years and the perpetrators of material frauds.
You are not really forced to stay but there may be penalties depending on the individual terms of the contract (that's why it pays to read it carefully). That being said, going into a cadetship with the intention of dropping it asap for a better role is probably not the best mindset to be in given that cadetships typically exist to foster progression because you have extended experience with the respective organization. Similarly, joining a back or middle office role path with an expectation of front office moves is also likely to lead to disappointment.
I would say very difficult. It does happen but very rare and almost hailed as a miracle if it worked out.
i agree with you, but the experience gained through a cadetship is invaluable when vying for a front office position out of uni, at a different firm of coarse. so is it not worthwhile to use the cadetship as a learning curve/experience and then to apply for better positions later on. or is this frowned upon by the business world
It depends on the type of cadetship. There are people who have a much better advantage applying for a front-office position than someone with a back-office cadetship (i.e. a high scoring Com/Law student, Co-op scholar or Accounting cadet who already has more 'front-office' exposure). As seremify said "joining a back or middle office role path with an expectation of front office moves is also likely to lead to disappointment" They are totally different careers and I don't know how much leverage the back-office cadetship will provide you.
It's no different to any other professional work experience I'd say. The level of relevance from mid/back to front is not as much as you'd think and as BiancaC mentioned, there are far better ways of getting more relevant experience or skills to improve your chances of getting into front office. I'm not looking down on back/mid but rather, just highlighting there are some pretty significant differences to begin with, and then given that all the mess that has happened over the past couple of decades which showed what happens when you let someone with back/mid office knowledge end up in the front house, I don't think the path is as clear as it once was talked up to be.
Generally you wont be doing a cadetship studying Com/Law because the firms usually won't allow and your marks difference as shown above is in the same range (distinction) anyway. By good marks, I mean a HD average (85+). There are many jobs these days in banking and finance which take people from all sorts of disciplines and backgrounds (so not just Commerce or Law students) but generally all they want is a HD average).
