Guys, what are some thoughts about HSBC's international management program? Is it regarded as a "legit" program? What do people do afterwards?
Personally, does sound appealing with regards to experiencing multiple cultures across diverse business lines. Definitely seems more "interesting" in a sense than working at a traditional FO BB role.
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I am pretty familiar with the program. Think of it like a GE or Lockheed Martin leadership program on steroids. You go to NYC for a couple days, then to London then to wherever they send you. Really great program. Most of the banks top leaders come from the IM program. You will have a lot of responsibility right off the bat.
Absolutely not IB though. I believe IM operates within the commercial bank group as opposed to IB which is part of their Global Banking & Markets. No excel models or pitch books.
yup agree with the above. it is similar to Standard Chartered's program.. more to the traditional banking programme.. but im sure there's always room for internal transfers..
decent pay as well..
pfft, the CEO of HSBC only gets like 2m
retail is for chumps
I fail to see how the CEO of HSBC getting 2 Million = retail sucks. Retail sucks, but not because of your weak inference skills.
Geoghegan may receive a bonus for 2009 worth as much as 4.4 million pounds in addition to a long-term incentive award worth as much as 7.7 million pounds, according to the person. A final decision on directors’ pay will be taken by the bank’s remuneration committee on Feb. 26.
^^^ Got that from Business Week, Feb 24th 2010. All figures in pounds so just a tiny bit different when you convert into dollars.
Jamie Dimion is a CEO of a "crappy" retail bank called JPMorgan. His bonus wasn't that bad.
to become the CEO of a retail bank, you need a monster-sized dick, yet you get compensated less then a medium-sized dick in high finance.
what i'm trying to say is that if Geoghegan had used his monster-sized dick in high finance, he would be earning a lot more money then he is now.
the compensation in retail banking / industry is so far below high finance, and to be at the top you need to work just as hard, if not harder. what is the point?
retail banking is for chumps.
Who do you think makes the decision for a bank to be in one area vs another. The big dick is underneath the CEO don't forget. Retail DOES suck, but comparing the CEO to a MD is a really bad comparison.
Regardless, lets steer the topic back on course so the OP can get answers to his question.
Though i chose to be in working HK BB, seriously i dun think IMs bad
decent pay with good working hours, heard they only hire 100 ppl all over the world this year.
I just attended their recruitment talk at the university of hong kong, and the program absolutely stands out. very impressive stuff. you get to see the world through rotations thast last 1.5 - 3 years, it pays well, and the lifestyle sounds much more balance compared to FO BB.
Thing is though, the rotations don't actually end so HSBC IM's can expect to be traveling at the bank's whim until they gain enough political clout...
Flexibility? Balanced lifestyle? How about a week's notice to start a new (transatlantic) job, not because of special needs but because of HSBC's incredibly convoluted bureaucracy?
any idea what people do after this?
they did a recruiting event at my school and at the MBA level HSBC looks at the program as a career. I get the impression most people who go into it are on board with that and keep doing it for years.
i think the most obvious exit would be to use it as an extended scouting mission for bank roles and locations. whenever you figure it out, try to recruit for a permanent role you liked in a location you liked either in HSBC or externally. operating partner at the right PE should could work.
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