UBS Cadetship (3 Viewers)

[seremify007]

I should add that all the other reasons mentioned here are true too but I just enjoy emphasising this point. Who knows maybe you too could be famous. Not many traders are household names.


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[Steve1820]

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[seremify007]

Well, I got an offer for first round interviews for Global Asset Management which is pretty cool.

Is this better of a finance co-op?

UNSW Finance coop would open up a lot more opportunities particularly if you're set on a role in the upper echelons of finance.

 

[Steve1820]

Ahh its hard to judge as this is the first time UBS have rolled out with front-office cadetships. Mm...

 

[Steve1820]

Who else got it?

and, what advantages would a finance co-op have over a front-office cadetship? I obviously haven't got any of them yet but just wondering

 

[BiancaC]

Who else got it?

and, what advantages would a finance co-op have over a front-office cadetship? I obviously haven't got any of them yet but just wondering

Other people here have gotten offers, but I dont know if they are also Global Asset Management.

Finance co-op has a few more benefits over a front-office cadetship. Firstly, the exposure to 3 different companies (and these include Goldman Sachs, JPMorgan, Deutsche Bank, Citibank, even UBS etc) is invaluable. It provides you with a broad introduction into many different divisons and groups within the bank, rather than just having you focus on Global Asset Management. It arguably also gives a better path as seremify said into the upper echelons of finance because you do gain better exposure and you are better placed to enter directly into things like IBD, rather than be pigeon holed early within your cadetship into a very specific group within UBS.

 

[seremify007]

I still remain sceptical about this whole front office cadetship as to what the role will actually entail if you do end up in their front office.

 

[BiancaC]

I still remain sceptical about this whole front office cadetship as to what the role will actually entail if you do end up in their front office.

This. The front-office cadetship offers seem to be for very specialised areas which may not necessarily be front-office, but rather a direct support function to the front office.

 

[Steve1820]

http://www.businesscadetships.com.au/bc_companies_2011.asp

Read that...thats all the info they've given us.

 

[gl348]

Hey, who got offers? I got one in the investment bank (equity derivatives, sales & trading) and they're sending me a contract next week. I'm anxious about signing it since I'm still considering the unsw co-op scholarship! What do you guys reckon? I talked to HR at UBS, and they said that for a grad position in the IBD, they would much rather hire a cadet from my area rather than a co-op scholar for two reasons: 1) I'd be "part of the UBS family" (her exact words) and 2) I'd have a much greater depth of experience working at UBS for four years, rather than just doing a 12-week project in the co-op program. She also said that it is possible to do comm/law in the cadet program (starting the law component at the start of the third year) if you feel you can handle it. At the moment, UBS has the allure of 4 years of front-office experience (and more than double the $ of the co-op), whereas I would imagine that the co-op is a lot less stressful because you're not studying and working simultaneously.
What should I do?!

 

[seremify007]

Hey, who got offers? I got one in the investment bank (equity derivatives, sales & trading) and they're sending me a contract next week. I'm anxious about signing it since I'm still considering the unsw co-op scholarship! What do you guys reckon? I talked to HR at UBS, and they said that for a grad position in the IBD, they would much rather hire a cadet from my area rather than a co-op scholar for two reasons: 1) I'd be "part of the UBS family" (her exact words) and 2) I'd have a much greater depth of experience working at UBS for four years, rather than just doing a 12-week project in the co-op program. She also said that it is possible to do comm/law in the cadet program (starting the law component at the start of the third year) if you feel you can handle it. At the moment, UBS has the allure of 4 years of front-office experience (and more than double the $ of the co-op), whereas I would imagine that the co-op is a lot less stressful because you're not studying and working simultaneously.
What should I do?!

Take it.

Once you start uni you'll realise how friggin competitive/difficult it is to get into IBD even with a finance coop background. Only reason I'd not take it is if I wasn't sure whether I wanted to work in IBD. At the end of the day a coop scholarship is just to help you get a job by offering guaranteed placements whereas a cadetship is an actual job in an actual role in an actual company. If it's in an area you want, especially one which only gets harder to get into, I'd take it especially since they're offering it to you because they see potential. I don't know how much true front-office stuff you'll be doing but at least you're well positioned.

 

[gl348]

Take it.

Once you start uni you'll realise how friggin competitive/difficult it is to get into IBD even with a finance coop background. Only reason I'd not take it is if I wasn't sure whether I wanted to work in IBD. At the end of the day a coop scholarship is just to help you get a job by offering guaranteed placements whereas a cadetship is an actual job in an actual role in an actual company. If it's in an area you want, especially one which only gets harder to get into, I'd take it especially since they're offering it to you because they see potential. I don't know how much true front-office stuff you'll be doing but at least you're well positioned.

Thanks so much for the advice - I really appreciate it! I'm not 100% sure I want to work in the IBD, but I'm just trying to aim high (and from what you said, if the IBD is the most competitive area to get into, why not at least set myself up for it?)
Also, is equity derivatives a good area to be in if I wanted to move into the IBD later on?

 

[seremify007]

At your level I wouldn't worry too much. It's all about wether or not you can be moulded. If I were you, I would do more research just so that I don't look too clueless on day 1. Given how relatively new the cadetship program is, you'll need to manage expectations of others because some people will expect you to be as competent as a grad or intern. Either way wait and see but I'd pick this over finance coop based on what you've been offered.

 

[gl348]

Cheers - I'll take it then

 

[Examine]

This thread is actually amazing, it reads like a book.

 

[zaczaczac]

What is it like to take the online competency test?
How many tests are there? (on the site there's about 10 but I doubt they would require applicants to complete all of them)
EG there would be the numerical one I'm guessing, but the personality questionnaire?

 

[zaczaczac]

Any tips for the first PCA interview?

 

[maks01]

How many days do UBS cadets work? I've heard pwc cadets only work 4 days

 

[seremify007]

It's not really clear on the website- it sounds like each position is discussed and agreed between HR and the individual based on business needs. That being said all the people I know who did it worked a full time job.

I'd also take the pwc example with a pinch of salt- it's 1 day off per week to study but only during uni semester (i.e. additional 7.5 hours of leave to be used each week). It's still a full time position though like most accounting cadetships (if not all).

 

[zaczaczac]

How many days do UBS cadets work? I've heard pwc cadets only work 4 days

Are you going for it this year? How was your interview?