Pros
At UBS, it's easy to be a star, because everybody around you lacks any motivation or discernible talent. You'll frequently travel to fun places like London, Zurich and Tokyo for no apparent reason. If you're fortunate enough work on a project that isn't axed due to lack of interest or boredom on the part of management, you'll have unlimited time lines to complete even the simplest of tasks, since nobody will ever pressure you to work as that may ruin your friendship and personal relationships are far more important than the success of the business.
Cons
Management is totally incompetent. Compensation is very weak. Technology is a joke (even though they think they're cutting edge). Nobody cares if you make any sort of progress (education, career, otherwise). Officers (such as the COO) verbally assault entire departments and publicly make lewd jokes about individuals they don't care for. Your liberties will be infringed upon (you'll work any hours they want you to, takes calls during sick & vacation time, and rid yourself of any personal websites or blogs, it's against their policy).