Coming off a difficult end of 2018, UBS beat expectations during the second quarter – and took to Twitter to reprimand anyone who reported different. Compensation and benefits costs for the investment bank were up 13% on Q1 19, and the comp-to-revenue ratio rebounded from what was a multi-year low in 2018. In short, pay totals are up at the Swiss bank. This is particularly true in the U.S., where salaries and bonuses are beginning to mirror those offered by rival domestic banks – and exceeding them at one level.
As you can see in the chart below, salaries for analysts are roughly equal to the average of the top ten U.S. banks, according to new research from Wall Street Oasis. When looked at together, first and second-year analysts take home around $90k in salary, with the former earning around $20k less than the latter. Meanwhile, salaries for UBS associates in the U.S. are a bit below the average.
However, judging by the figures, UBS hasn’t been quite as generous as other banks in the U.S. when it comes to incentivized comp for its junior bankers. UBS analysts and associates report bringing home bonuses of at least $10k less than the average U.S. junior banker. But they soon could be closing the gap. As mentioned earlier, UBS was one of the few major investment banks to book a “win” during the second quarter. Come this time next year, those totals should be a bit more even.
When it comes to vice presidents in the U.S., the Swiss lender appears to be more generous, paying out a medium salary of $235k compared to the overall average of $219k. Same goes for VP bonuses, which are a bit higher at UBS than at rival banks. Again, UBS VPs may widen the gap come 2020 if they put together two more strong quarters to end the year. We didn’t include numbers for managing directors as the sample size was too small, though MD pay in client-facing investment banking roles varies greatly based on hitting revenue targets. That said, UBS was very generous with its material risk-takers in 2018, at least globally.
What is the average salary for UBS in the U.S.?
The average UBS salary in the U.S. is $90k for analysts, $129k for associates and $235k for VPs.
What is the average bonus for UBS in the U.S.?
The average bonus for UBS in the U.S. is $37k for analysts, $65k for associates and $150k for VPs.