Pros
Used to be a nice relaxed place to work with good working hours, people were highly skilled. Promotions were more transparent and more fair. There were many internal promotions in the past.
Cons
Pay has always been below par at UBS, but other things in the past (such as working hours) were making up for that. Working hours have increased by about 1 to 1.5 hours in Finance during the last five years (mainly last two years). THERE IS A NEW PROMOTION POLICY. Job titles such as AD, Director are more a recognition of competence - it has always been possible for a specilist with not a single diect report to become a Director for example. So promotion never meant that you are now a boss - it has always been just a recognition of competence and in the past EACH INDIVIDUAL WAS ASSESSED on his own merits. They have now introduced a NEW POLICY. Each individual is ranked against a cohort of others of the same rank. Top 10% deemed outstanding, another 20% Excellent, 40% good, 20% Need Improvements, 10% Very bad performance. New joiners are making into the middle - as would not be fair to hit them with any other rating. So existing staff have an almost 50% chance of being deemed underperforming. SELECTION INTO TOP CATEGORIES is often done on the basis of being boss's drinking buddy. Even if you make it into excellent one year, next year they might well stick you into underperformer as previous years' "undeperformers" will leave and new joiners will occupy the middle slot. Oh yes and unless consistently rated excellent (compared to others) no chance of promotion.