NEW YORK and PHILADELPHIA, Feb. 7, 2008 (PRIME NEWSWIRE) -- UBS and The Wharton School of the University of Pennsylvania will partner for a second consecutive year on UBS Career Comeback: A Fellowship Program for Professionals Re-entering the Workforce. This executive education program, facilitated by Academic Director Monica McGrath and offered April 5-7, 2008, is designed to help women leaders transition back into the workforce after a career break.
Forty-three percent of women surveyed stayed out of the workforce longer than they expected, according to a 2004-2005 study by McGrath, Wharton adjunct associate professor of management, and Wharton alumnae Marla Driscoll and Mary Gross. Furthermore, 87 percent of those who initially never planned to return to work changed their minds. Many re-entered by joining smaller companies and often shifted industries or functional roles. McGrath found that the women often faced a difficult transition.
"Female executives who leave the corporate world when they hit a glass ceiling, want to raise a family full time, or decide to focus on other interests encounter frustrating roadblocks in their attempts to re-enter the workforce," McGrath said. "To overcome these obstacles, women in business must update their skills and stay on top of general business trends."
UBS and Wharton jointly developed the UBS Career Comeback executive education program to address these needs. Directed at women leaders with a minimum of five years of professional experience who have taken a career hiatus of between two and seven years, the program is highly selective. A degree is required. With the support of UBS, the program is offered free of charge.
"We are delighted to be partnering with Wharton once again," says Mona Lau, UBS global head of diversity. "The program was so successful last year that not only did we decide to run it again, but we expanded to other markets such as Hong Kong, Sydney, and London. We know that talented individuals can successfully re-launch their careers and we're confident that this program will give them the cutting-edge information they need so that they can hit the ground running."
The executive education program is designed to provide attendees with the following opportunities:
o Update: When re-entering the workforce, women must contend with a
changed business environment, including technological
advancements, regulatory changes and the effects of mergers and
acquisitions. In conjunction with academic partners around the
world, UBS brings together business updates from professors in
finance, marketing, technology and strategy.
o Plan: Women leaders face a number of unique obstacles when
returning to the workforce, including a diminished personal
network and increased family responsibilities. Through coaching,
teamwork, and individual mentoring, UBS helps participants
address these issues and develop individual action plans for a
return to employment.
o Network: Following the on-campus portion of the program,
participants will travel to UBS offices in New York where they
will meet with business leaders and be paired with individual UBS
peer coaches. Building relationships among fellow participants,
faculty and business leaders is an important part of the program.
The first two days of the program, April 5-6, will be held at Wharton's campus in Philadelphia. On April 7, participants will attend an additional day of training at UBS in New York City, during which they will be paired with UBS peer coaches. The deadline for applications is February 29th. For more information and an application form, see www.ubscareercomebackatwharton.com.
UBS has also run successful programs in Sydney (in partnership with the Australian Graduate School of Management) and Hong Kong (in partnership with the Hong Kong University of Science and Technology). A fourth program will be held in London during March (in partnership with London School of Economics Executive Education).
Executive Education at the Wharton School
The Wharton School of the University of Pennsylvania -- founded in 1881 as the first collegiate business school -- is recognized globally for intellectual leadership and ongoing innovation across every major discipline of business education. The most comprehensive source of business knowledge in the world, Wharton bridges research and practice through its broad engagement with the global business community. Executive education at Wharton brings together over 10,000 executives each year from all corners of the globe in a partnership of learning. The best and the brightest business minds today tackle real-world issues in a highly collaborative environment.
Informed by in-depth, groundbreaking academic research and extensive industry experience, Wharton programs can span anywhere from a few days to a year or more. Each executive education program offers a supportive and challenging context where participants gain the skills necessary for their next level of executive development. Participants who come to Wharton from a diverse range of industries engage with faculty who are the most cited, most published faculty of all top-tier business schools. With a profound influence upon global business, Wharton faculty are the sought-after, trusted advisors of corporations and governments worldwide.
The Wharton School Aresty Institute of Executive Education logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4522.
About UBS
UBS is one of the world's leading financial firms, serving a discerning international client base. Its business, global in scale, is focused on growth. As an integrated firm, UBS creates added value for clients by drawing on the combined resources and expertise of all its businesses.
UBS is the leading global wealth manager, a top tier investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking.
UBS is present in all major financial centers worldwide. It has offices in 50 countries, with about 39% of its employees working in the Americas, 33% in Switzerland, 16% in the rest of Europe and 12% in Asia Pacific. UBS's financial businesses employ more than 80,000 people around the world. Its shares are listed on the SWX Swiss Stock Exchange, the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE).