US
Rumours are flying thick and fast about the likely structure of bonuses at UBS this year.
UBS has already officially indicated that it will be paying a higher proportion of bonuses in stock after reporting its first quarterly loss for half a decade and predicting a full year loss for its securities unit.
More colour is emerging on what this ‘higher proportion of stock’ might look like. According to one headhunter, the bank has indicated that it will pay 75% of bonuses above US$500k in stock and 100% of anything above $2m in stock. She says UBS is compensating for this by offering stock recipients a shorter vesting schedule.
Both claims are unconfirmed by the bank itself.
Even worse: deferred cash?
Another rumour is that UBS plans to defer paying part of the remaining cash element of its bonuses until 2008. This has been categorically denied by the bank, but one headhunter says it would make sense – both for UBS and elsewhere.
“It is very possible that those banks hardest hit by credit losses will find it necessary to pay greater proportions of bonus awards in stock this year, and probably even defer the cash elements of the bonus over the next 12 months,” he says.
It won’t be the first time that banks have withheld cash payouts. ABN operates (or operated before it jumped into bed with RBS and some Spaniards) a deferred cash scheme. Dresdner K famously deferred a proportion of its traders’ cash bonuses in 2006 on the condition that they met additional performance targets. Guess what? Several traders left as a result.
It is not about the bonus people, I would work for UBS without a bonus. UBS offers a work/life balance that is in a league of its own above the other IBs.
Cool, I’ll tell your line manager
Happy Diwali, UBS is a great place, but who cares, if IBX pays you today, time value you want your money now!
All the gd ppl there go to GS or othre US banks.
ok, here is question to you guys,… i am a product and sales head for Business Banking for a mnc bank, i have 10 years of HNI manegement and 6 years in product and business mgt, i have an offer from UBS to move as a offshore pvt bank manager covering india from singapore… is it worth the punt…i manage a business and people as a pvt banker i am not sure… have experience and know some clients… not able to make up my mind…money is abou 20% higher in UBS
well, in my books, its the money that counts, and a chance to get some good weather. Seeing u’ve got a minimum 16 years experience, it will only open other doors in your career by moving to UBS. Then again, family, friends etc…I don’t think anyone can advise you on this one. It comes down to you!
forget it, there are 400 pvt bankers covering India from offshore centres, UBS is tough territiry, either your colleague in UBS, who is maybe 10 years younger will make mince meat out of you or someone else would have covered your small pool of clients… offshore pvt banking is no novice’s play… think of your retirement fund, stay where you are if you don’t have hardcore pvt banking contact and clients
pay the boy’s you can count on.the one’s that do it yearin and year out……
I don’t care if UBS pays me. I work would work at UBS just so I can see the swiss boat and be part of some a great culture (U and US baby!)
i work at ubs and it sucks
Great place to work, compensation is really good compare to other bank like CS,MS..etc you can see the people values..
I don’t know which dept you r in Gh, I’ve been at UBS/Painewebber for a looong time and the moral is at its lowest. They care not a wink for their exhausted underpaid staff.
d, from debt/Fixed Income, you work for UBS and YOU suck. You, FI losers, have screwed it up for all of us.
yeah, it seems like heaven from outside, but inside, it SUCKSSSSS
If UBS ever had an honorable thought, it would die of loneliness.
that is utter nonsense – working in UBS technology, at least, really really really sucks. Everything is super slow. I felt like i was working in a retirement home.
The pay is good , but you dont meet anyone who really inspires you to do something more in your career. Its a snooze fest.
I was a UBS employee & they do suck!!!! They don’t give a damn about if you live or die; as long as they make money. They are also so afraid of getting sued that they keep incompitant employees and get rid of compitant ones. It won’t be long before they are closed.
i get paid bare money at ubs.