HSBC London
Currently in the interview process for an IB analyst position. Anyone have any info on the bank? reputation? best groups? culture? exits? would be super helpful!
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Their LevFin team is good
HSBC reputation is very bad especially in London. They are considered to have the lowest comp out of all banks (£58k with no sign on), only decent team is LevFin and you are heavily overworked on pitches rather than live deals. Your bonus in first year is also the lowest on the street (an efinancialcareers report came out a few weeks ago saying HSBC was the lowest for A1). So overall, not great at all and exits are close to none existent (better off doing an off-cycle at a top BB)
Heard from friends that culture is v bad too - a lot of the coverage teams have got their holiday taken away from them because they have been on a lot of pitches, a good friend who is an A1 told me for the first 4 months of his A1 stint he worked 7 days a week past midnight. Also heard its v hierarchal too, hope that helps let me know of any further questions!
Me when I lie about everything apart from bonuses:
lol
damn really? I Thought HSBC was a decent shop but that pay is honestly criminal for their size.
what are bonuses like, if you dont mind sharing - thanks
deleted.
how about their financial sponsor team? considering it should be close to levfin?
[damerobinson] what would be your top3 teams at HSBC for IB in London? And what is the lifestyle like? Thanks :)
You'll be overworked as a junior on pitches at all BBs mate. Good luck even picking up the phone to a client for the first 3 years
I’d be truly baffled if an analyst phoned me up. Not that I think I’m too good for that but it’d just be so out of the ordinary
I know this is HSBC London, but I work HSBC USA. Even on this side of the pond LevFin is the best group, with decent exits to BB/PE. DCM is solid but only because this is a balance sheet Bank. Corp banking is solid as well primarily due to international reach. M&A advisory is an inside joke at the firm (at least in the US)
lol
Doubt that’s the case in Asia and MENAT no?
Not my experience. We've taken a number of HSBC bankers who have stepped up. It's not an M&A bank sure but doesn't mean it's worthless.
Worked alongside and opposite them on a number of big deals. Really depends on who you get there. UK M&A MDs are all very sharp.
Didn’t HSBC just hire a new Chemicals MD? Is HSBC trying to grow its coverage or nah?
“Trying” is the key word. Was not aware of this hire. What’s his name?
Which M&A coverage group is best at HSBC USA? If you had to pick one
I am pretty sure HSBC has a M&A product group.
None of them. They're a joke internally
They just built out the healthcare team, so wouldn’t know about that group. Based on the sheer work that gets done, I’d say that the Chemicals team is the “best” based on the amount of work that gets done, followed by TMT. Heard consumer team is a joke, and FSG/Industrials still needs work to be a solid group. They have a M&A team, which works along with each of the sector coverages, but if you want sector coverage then go with Chemicals
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