How hard is it to get into UBS in the US?

Very. UBS runs one of the more competitive and structured processes in US banking, and reports suggest only around 2-3% of original applicants receive an offer. The funnel runs from an online application through a four-part online assessment, a HireVue video interview, a phone screen and technical rounds, and finally a superday.

What GPA do I need for UBS?

The official minimum is a 3.0 GPA. Competitive front-office candidates tend to carry 3.5 or higher, and the median for accepted candidates is reported around 3.7. At non-target schools, applicants typically need 3.8 or above to compensate.

Does UBS still require a cover letter?

No. As of the 2024-2025 cycle, cover letters are no longer required. You submit an online application with a resume and transcripts, and you are expected to demonstrate knowledge of the UBS Pillars, Principles and Behaviors through the process.

What online assessment does UBS use?

A four-part battery: a UBS Culture Match situational-judgment test (18 scenarios, untimed), an Aon numerical reasoning test (37 tasks in 12 minutes), a cut-e verbal reasoning test (49 questions in 12 minutes) and a short inductive / logical reasoning test (about 6 minutes). The aptitude sections are strictly timed.

How technical is the UBS interview process?

The HireVue is mostly fit and motivation with some lighter technical content. The phone screen and first-round interviews go deeper on accounting, valuation, DCF and WACC mechanics and M&A structures. Reports suggest the superday itself leans more on behavioral and cultural fit, with lighter technicals.

What is UBS analyst compensation in the US?

Crowdsourced 2025 data (Levels.fyi) puts a first-year analyst at roughly $105,500 base plus a ~$30,950 bonus for about $138,450 total. Aggregate market sources place first-year analysts in the wider ~$100-125K base and ~$165-225K total range. Summer analysts earn roughly $2,100-2,300 per week.

When does UBS US recruiting open?

Summer Analyst applications open in late August or early September with a priority deadline around October and a June start. The Full-Time / Graduate Talent Program opens roughly a year earlier in August-September with a January or February start. Apply early: most interview invites reportedly go to September-October applicants.

What is the UBS Investment Banking Challenge?

A newer two-week pre-internship program of workshops, a case study and mentorship, open to students from both finance and non-finance backgrounds, with a fast track into summer internship recruiting. It is one of several recent moves to widen the UBS talent pipeline in the US.

Investment Banking

UBS Application Guide

A top global investment bank rebuilding and scaling its US franchise after the Credit Suisse acquisition, with one of the most structured assessment processes in finance. Every stage of the process, the questions UBS actually asks, and the prep that gets candidates through, in one place.

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The firm

About UBS

The business today

UBS is a top global investment bank, generally ranked in the tier just below JPMorgan, Goldman Sachs and Morgan Stanley. In the US it operates through two main engines: Global Banking, covering advisory, M&A, equity capital markets and debt capital markets; and Global Markets, covering equities, fixed income, FX and commodities trading. Because it is not a balance-sheet-first universal bank in the US in the way the largest American banks are, much of its edge comes from advice, distribution and its links to a very large wealth-management franchise.

The defining recent event is the March 2023 acquisition of Credit Suisse. That deal roughly doubled the UBS platform in the Americas: market share in the region is reported at more than twice pre-acquisition levels, and the firm has been integrating the larger Credit Suisse business while rebuilding client relationships. By the end of 2024 the operational consolidation was complete, with legacy Credit Suisse desks and products fully UBS-branded. The firm has publicly targeted a pre-tax return on equity near 20% by the end of 2026.

Strategically, UBS describes itself as the go-to bank for large corporates, entrepreneurs and emerging affluent clients, with a heavy emphasis on cross-selling wealth management alongside investment banking. Its advantage is access to a wealth franchise with millions of clients to cross-sell into; its challenge is that it is still consolidating operations and rebuilding M&A and ECM franchises against bigger, more established US competitors.

For a US analyst, the practical picture is a bank in build mode: new and consolidated offices (the New York headquarters is now at 11 Madison Avenue in the Flatiron District, the former Credit Suisse site), expanding regional hubs in Tampa, Charlotte, Dallas and Minneapolis, and a structured, fit-heavy recruiting process built around the firm Three Keys.

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Score your Resume against UBS's screen

UBS talent acquisition screens thousands of Resumes per cycle. Most are read in under 30 seconds. The candidates who get to interview have Resumes that signal commercial relevance fast, in the format UBS expects.

What UBS looks for in a Resume

Quantified impact

Numbers in every bullet: deal size, team size, percentage uplift, revenue managed. "Led a team" is filler, "led a 6-person team that delivered £400k of revenue" is a signal.

Named firms and deals

UBS recruiters skim for brand names they recognise. Name your prior internships, the deals you observed, the clients you worked on. Specifics beat generic descriptions.

Industry-relevant language

Use the vocabulary of the investment banking world: DCF, comps, LBO, league tables, deal flow. Generic "analysed data" reads as not-yet-in-the-industry; the right terms read as ready.

Tight, structured layout

One page max. Reverse-chronological. Three to five bullets per role. No long paragraphs, no dense blocks. The skim test decides the read.

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The application

How UBS hires

6 stages, real interview questions, the criteria that decide it, and the moves that separate offers from rejections.

The process, stage by stage

1
Online application
Summer Analyst applications open late August / early September; the priority deadline is typically around October. Full-Time / Graduate Talent Program opens August-September a year earlier.
Apply in September-October: candidate reports suggest the large majority of interview invites go to early applicants, even though deadlines run later. No cover letter is required, but show knowledge of the UBS Pillars, Principles and Behaviors.
2
Online assessment
Issued roughly 5-7 days after the initial application screen.
Four parts: a UBS Culture Match (situational judgment), an Aon numerical test, a cut-e verbal test and a short inductive/logical test. The aptitude sections are strictly timed, so practice fast, accurate data interpretation.
3
HireVue video interview
A 5-day window from the invitation.
Around 4-7 pre-recorded questions (most commonly 5-6), mostly fit and motivation with some lighter technical. Record tight, structured answers to camera and lead each one with your point.
4
First-round / phone screen
After the HireVue, often within 1-2 weeks.
Usually an HR or phone screen followed by one or two technical interviews covering accounting, valuation and deal structures. Know your resume cold and a clean DCF.
5
Superday
The final stage, virtual (Zoom) or in person at 11 Madison Avenue.
Typically 2-3 interviews (sometimes 4) of 30-45 minutes, heavy on behavioral and cultural fit with lighter technicals. Some rounds include a short prep-then-discuss case or research topic.
6
Offer
Fast turnaround, reported from a couple of hours up to about 24 hours after the superday.
Decisions are made in a same-day or next-day calibration meeting. Roughly 2-3% of original applicants receive an offer.

What UBS asks at each round

Phone screen / fit

Why UBS, and why this division?
Walk me through your resume.
Tell me about a time you worked in a team or handled conflict.
How do you stay current with financial markets?
Describe a setback and how you overcame it.

Technical (accounting and valuation)

Walk me through a DCF.
What is WACC and how would you calculate it?
What are the three main valuation methods and when would you use each?
Explain the relationship between the three financial statements.
What is free cash flow and how is it calculated?

Technical (M&A and markets)

Walk me through a recent M&A deal you have followed.
How would you model accretion / dilution in an M&A transaction?
What kinds of synergies show up in a deal, and how do they affect value?
What metrics would you use to assess a company financial health?
How do current market conditions affect deal activity?

What UBS looks for

Knowledge of the Three Keys

UBS recruits explicitly against its Pillars (Capital Strength, Efficiency, Risk Management), Principles (Client Focus, Excellence, Sustainable Performance, Collaboration) and Behaviors (Accountability with Integrity, Collaboration, Innovation). Map your examples to these.

Risk awareness and integrity

Capital Strength and Risk Management are pillars: UBS wants a compliance mindset, long-term thinking and people who take responsibility and speak up on ethical issues.

Client focus and collaboration

The model leans on cross-selling investment banking with a large wealth-management franchise, so teamwork across divisions and a genuine client orientation matter.

Technical fluency

Accounting links, the three valuation methods, DCF and WACC mechanics, and M&A structures (accretion / dilution, synergies) are tested from the phone screen onward.

Composure and communication

Interviewers look for clear, concise, structured thinking, the ability to admit a knowledge gap gracefully, and steadiness under pressure.

Genuine motivation

A specific reason for UBS and for the division, ideally informed by the post-Credit Suisse buildout of the US platform, rather than a generic banking pitch.

The edge: what separates offers from rejections

Specific moves most applicants skip. None of them need talent, only preparation.

01Apply in September-October: candidate reports suggest most interview invites go to early applicants
02Learn the Three Keys (Pillars, Principles, Behaviors) and weave them through your answers
03Have a clear, specific reason for UBS and for your division, informed by the post-Credit Suisse US buildout
04Know the core technicals cold: DCF, WACC, the three valuation methods, the three-statement links and accretion / dilution
05Practice the timed Aon and cut-e aptitude tests; most candidates cannot finish the numerical test, so accuracy first
06Record tight, structured HireVue answers to camera and lead with your point

Prep, stage by stage

Drill each UBS round

Dedicated pages for the four rounds UBS runs. Practise each round on Intervyo.

Online Assessment

Real format, calibrated to UBS.

HireVue

Real UBS questions, identical timer, scored on six competencies.

Live Interview

Conversational mocks tuned to UBS's style, with follow-ups.

Superday

Hours of back-to-back interviews. Full-day rehearsal.

Pay & culture

Working at UBS

What they pay

Graduate

~$105,500 base (~$138,450 total comp including a ~$30,950 bonus, Levels.fyi 2025); aggregate market data puts first-year analysts in the ~$100-125K base / ~$165-225K total range

Internship

~$2,100-2,300 per week (about $25,200-27,600 for a 12-week summer)

Perks

Health, dental and vision insurance401(k) retirement planModernized 11 Madison Avenue offices (fitness center, cafe, upgraded conference rooms)Cross-divisional exposure to a large wealth-management platformExpanding US regional hubs (Tampa, Charlotte, Dallas, Minneapolis)

Company	Comp	Hours / week	Exit options
JPMorgan	~$100-125K base (street level)	~75-90/week	Elite (top PE, hedge funds)
Goldman Sachs	~$100-125K base (street level)	~80-90/week	Elite (megafund PE, hedge funds)
Morgan Stanley	~$100-125K base (street level)	~75-90/week	Very strong
Deutsche Bank	~$100-125K base (street level)	~75-90/week	Strong

What working at UBS is like

Tier-2 global investment bank (after JPMorgan, Goldman Sachs and Morgan Stanley)
Two engines: Global Banking (advisory, M&A, ECM, DCM) and Global Markets (equities, fixed income, FX, commodities)
Recruits against the Three Keys: Pillars, Principles and Behaviors
US platform roughly doubled in scale after the March 2023 Credit Suisse acquisition
Headquartered at 11 Madison Avenue in the Flatiron District, New York
Strong cross-sell between investment banking and a large wealth-management franchise
Rebuilding regional coverage across Tampa, Charlotte, Dallas and Minneapolis
Structured, multi-stage assessment process with a strong emphasis on fit

Timeline

When UBS programmes open and close

By programme. Use these dates to plan applications across the cycle and submit early on rolling lines.

Programme	Opens	Closes	Assessment	Offers	Notes
Summer Analyst	Late August / early September	Priority deadline around October (rolling after)	Fall, over roughly 4-6 weeks from assessment to superday	Rolling; June start	Most interview invites reportedly go to September-October applicants, so apply early.
Full-Time Analyst / Graduate Talent Program	August-September (about a year before start)	Priority deadline around October	Roughly 6-10 weeks end to end	January / February start onward	Returning summer analysts plus direct hires; the same Three Keys framework applies.
UBS Investment Banking Challenge	Per program cycle	Per program cycle	-	-	A newer two-week pre-internship program (workshops, a case study, mentorship) open to finance and non-finance backgrounds, with a fast track into summer internship recruiting.

FAQ

UBS application questions

How is UBS positioned against the big US banks?

UBS is a top global investment bank, generally placed in the tier just below JPMorgan, Goldman Sachs and Morgan Stanley. Its US platform roughly doubled after the March 2023 Credit Suisse acquisition, with Americas market share reported at more than twice pre-acquisition levels, and the firm has targeted a pre-tax return on equity near 20% by the end of 2026. Its distinctive edge is the universal-bank model: investment banking tightly linked to one of the largest wealth-management franchises in the world, with heavy cross-sell. The trade-off is that it is still integrating a large acquisition and rebuilding M&A and ECM against bigger, more established US competitors.

What does the UBS online assessment involve?

It has four parts, usually issued about 5-7 days after the initial application screen. First, a UBS Culture Match: 18 situational-judgment scenarios reflecting the firm values, untimed but typically 15-20 minutes. Second, an Aon numerical reasoning test: 37 data-interpretation tasks in 12 minutes, hard enough that most candidates cannot finish. Third, a cut-e verbal reasoning test: 49 questions in 12 minutes. Fourth, a short inductive / logical reasoning test of about 6 minutes. Practice fast, accurate data interpretation under a strict clock, and answer the Culture Match against the UBS Pillars, Principles and Behaviors rather than personal preference.

Is the UBS HireVue technical?

Mostly not. The HireVue is weighted toward fit and motivation (why UBS, why the division, teamwork and setbacks), with some lighter technical content such as how you would assess a company financial health or how you stay current with markets. You typically get around 1.5-2 minutes to prepare and 2-3 minutes to record each of roughly 4-7 questions, for about 20-30 minutes total. The deeper technicals come at the phone screen and first-round interviews, so here focus on tight, specific, well-delivered answers to camera.

How technical are the UBS interviews?

The phone screen and first-round interviews are where technicals get serious: accounting links and the three financial statements, the three valuation methods, DCF mechanics including free cash flow, WACC and terminal value, and M&A structures such as accretion / dilution and synergies. You should also be able to discuss a recent deal with a point of view. Interestingly, reports suggest the superday itself leans more on behavioral and cultural fit with lighter technicals, sometimes including a short prep-then-discuss case. Drill the core walk-throughs cold for the early rounds, then make sure your fit and motivation answers are equally sharp for the superday.

What is UBS analyst pay in the US?

Crowdsourced 2025 data (Levels.fyi) puts a first-year analyst at roughly $105,500 base plus a ~$30,950 bonus and a small ~$2,000 stock grant, for about $138,450 total. Other sources show wider variation: some report lower totals, and aggregate market estimates place first-year analysts in the ~$100-125K base and ~$165-225K total range. Summer analysts earned roughly $2,100-2,300 per week in 2025, about $25,200-27,600 across a 12-week summer. Year-end 2025 bonuses rose around 5%, but the 2026 outlook is for broadly flat bonuses, since banking fees have recovered faster than junior pay.

How not to fail

Mistakes that cost candidates UBS offers

Specific failure modes the firm screens out. None of these need talent to avoid, only awareness.

01Applying late. Most interview invites reportedly go to September-October applicants even though deadlines run later. Apply in the first weeks of the window.
02Ignoring the Three Keys. UBS recruits explicitly against its Pillars, Principles and Behaviors. Answers that do not reflect them read as unprepared.
03Mismanaging the timed aptitude tests. The Aon numerical test is hard enough that most candidates cannot finish. Practice pace and prioritize accuracy.
04Generic motivation. A why-UBS answer that could be pasted onto any bank fails. Tie it to the US buildout, the wealth cross-sell or a specific division.
05Neglecting fit at the superday. Reports suggest the superday is behavioral-heavy. Inconsistent or vague fit answers across interviewers cost offers.

If you are rejected

What to do next

A UBS rejection is not a verdict on your ability given how competitive the intake is. Build the technical base, sharpen the timed aptitude tests, and target comparable US platforms.

Bulge-bracket peers

JPMorgan, Goldman Sachs and Morgan Stanley for the largest US platforms.

European and other global banks

Deutsche Bank, Barclays and similar firms recruiting comparable profiles in the US.

UBS pre-internship pathway

The UBS Investment Banking Challenge is open to finance and non-finance backgrounds and fast-tracks into summer recruiting.

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Intervyo is not affiliated with or endorsed by UBS. Process details are sourced from past applicants, the firm's published guidance and our own research; verify timings on the firm's official careers site before applying. Last updated July 18, 2026.

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