Career Comeback: UBS Fellowship Program for Professional Women Reentering the Workforce

Today Wharton School (University of Pennsylvania) in conjunction with UBS (one of the world’s largest financial firms) announces that they are offering an exciting fellowship opportunity for women who have a master’s degree and have taken a break from their career and desire to re-enter the workforce. 60 women will be selected to participate and particpate in the “Career Comeback”, a 3 day business training and networking event March 3-5 at Wharton and at UBS in NYC (travel from Wharton is included). This highly-selective program is offered at no charge to qualified applicants through funding from UBS. Sounds like a once in a life time opportunity.

Here is the press release:

Philadelphia, PA, and New York, NY, January 25, 2007˜The Wharton School of
the University of Pennsylvania and UBS have partnered to launch a new
executive education program for women returning to the workforce. Career
Comeback: A UBS Fellowship Program for Professional Women Reentering the
Workforce, led by Academic Director Monica McGrath, PhD, adjunct associate
professor of management at Wharton, will enable participants to update their
business knowledge, develop transition strategies, and network with business
leaders.

The executive education program is designed to train women, who often face a
number of obstacles when returning to the workforce, including a diminished
network, challenging family policies, technological advancements, regulatory
changes, and the effects of mergers and acquisitions. These challenges, as
well as personal and family responsibilities, are hurdles that can be
overcome with the right preparation.

This program, which will be underwritten by UBS, will be held March 3-4,
2007, with the first two days at Wharton‚s campus in Philadelphia. On March
5, participants will attend an additional day of training at UBS in New York
City, during which they will be paired with UBS peer coaches.

A 2004-2005 study by McGrath and two Wharton alumnae (Marla Driscoll and
Mary Gross) found that 43 percent of the women surveyed stayed out of the
workforce longer than they expected, and 87 percent of those who initially
never planned to return to work changed their minds. Many reentered 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 reenter the
workforce,‰ McGrath said. „To overcome these obstacles, women must update
their skills and stay on top of general business trends.‰

At the same time, employers are looking at flexibility and work-life balance
as ways to recruit and retain employees. To that end, UBS is committed to
developing programs that help women transition back to work in many of its
businesses around the globe.

„We continually face the challenge of talent shortages in certain business
areas,‰ said Mona Lau, global head of diversity for UBS. „To that end, we
are always looking for good people˜and we think there is a huge, untapped
talent base in women who have left the workforce for different reasons. Many
of them are ready and willing to come back but not exactly sure how. We feel
we have an obligation to help ease the way for those who have the interest
in coming back to the workforce.‰

Career Comeback is a highly-selective program designed for women with a
minimum of 5 years of professional experience who have taken a career hiatus
of between 2 and 7 years. An MBA or other graduate degree is also required.
The program, with the support of UBS, will be provided to participants at no
charge. To prepare for the reentry process, participants will:

 Update critical business knowledge, with a focus on finance, marketing,
and strategy
 Receive career coaching to hone their skills
 Create transition strategies and action plans for reentry into the
workforce
 Benefit from faculty research and corporate perspectives

In addition, the program also focuses on networking. „Leveraging the
participants and faculty to provide a learning community for one another is
an important part of the program,‰ McGrath said.

„At UBS, we know from experience that talented women can successfully
relaunch their careers,‰ said Lau. „We‚re confident that the Wharton faculty
will give them the cutting-edge information they need so that they can hit
the ground running.‰

About 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. The school has more than 4600 undergraduate, MBA,
executive MBA, and doctoral students; and an alumni network of more than
81,000 graduates.

Each year, Wharton Executive Education works with more than 8,000 business
leaders on its campus in Philadelphia, at Wharton West in San Francisco, and
at sites around the world. The Wharton Learning Continuum is Wharton
Executive Education‚s model for delivering Impact Through
EducationTMˆ-supporting companies and individuals in a 9- to 12-month
learning process that is designed collaboratively with clients, delivered by
Wharton faculty, and monitored to produce specific outcomes.

About UBS

UBS is one of the world‚s leading financial firms, serving a discerning
global client base. As an organization, it combines financial strength with
an international culture that embraces change. As an integrated firm, UBS
creates added value for clients by drawing on the combined resources and
expertise of all its businesses.

UBS is one of the world’s largest wealth managers, 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, 36%
in Switzerland, 16% in the rest of Europe and 9% in Asia Pacific. UBS’s
financial businesses employ around 75,000 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).

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