Process took roughly 1.5 months. Initial application and then numerical and STJ tests as usual. After passing those, was invited to complete a video interview. 2 weeks after that, invited to an Assessment day which comprised of 3 interviews: 1. Case Study - we were given 1hr (or really less than an hour) to analyse information between 2 companies for a potential merger & acquisition, and then to present our findings in a presentation (using flipchart paper). This is an individual exercise and not enough time was given to prepare. The interviewer was very grilling when it came to the Q&A section, but if I needed help answering a question he did give me hints until I got the answer which was good. 2. Competency Interview - this was probably the easiest/most laidback interview. Just the usual why UBS, example of being challenged, working in a team etc. Didn't really get asked many questions and was just expected to talk through my CV which was annoying, no proper structure to the interview 3. Commercial Interview - this was by far the worst interview. Make sure you know about UBS and the industry, inside and out. Look up valuation methods for M&As IN DETAIL! Was expected to do a valuation calculation with no pen, paper or calculator which was completely ridiculous! The interviewer clearly enjoyed watching me struggle to answer the question which made me feel very uncomfortable and gave me a bad impression of UBS in general. The only good thing I would say is that we found out the outcome of the assessment day within a week and received feedback from the interviews regardless of whether we were successful or not.