Hey everyone,
Can anyone shed some light on HSBC's recruiting? From what schools they recruit at, departments they recruit for (IBD, and PB would be my top choices.), pay, respect on the street, deal flow, etc.
Seems like a sketchy place, but massively interesting.
Any info would be much appreciated.
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Also interested. Do they recruit IB in the states? I am under the strange impression that they don't.
You'll need to know how to properly launder money.
cold wash, dry on low heat
Haha come on fellas. Washing money does not seem too difficult on a small scale (under ~$50 million a year).
From their site, I can see they DO recruit in the US, but there is no specific mention of investment banking. I have relatives in Latin America who have told me they recruit for IBD specifically in Mexico City, Sao Paolo, Rio, and Buenos Aires. But I would appreciate confirmation on this.
Would be MORE than willing to do IBD in Latin America, as I am fluent in both Spanish and Portuguese.
They have IB in the US- process is over I believe.
What schools do they look at?
Unsure- I was sent a generic rejection back in earlyish December after applying online
They have IB in the US. I think our school has OCR? not sure about that, but I def applied. Either way their IBD team is pretty small...with a limited # of spots. I think pretty big LevFin team though
MinneBanker- What school would that be?
Can't disclose school sorry haha...trying to remain anonymous here. But I think they recruit at a few target schools
*edit: by target I mean schools they target. not necc. HYP etc. Although they probably do HYP also? I go to a semi-target
Thanks MB
They def recruit at Columbia and Penn (IBD, S&T, Research). Cornell too I think. I met someone in S&T from Boston University so possibly there too.
Yes, HSBC does recruit for its NYC office. There's OCR at some decent but not amazing schools (BU, Indiana, etc.), but they do take people who just apply online. With that being said, based on my experience, there's some divisions that are great, and some that really, really suck. PB wouldn't be bad- catering likely towards wealthy international/expat types, they do a good business, shady dealings aside. LevFin has active deal flow, and a great group of guys. IBD is a bloody joke. No deal flow, pretty incompetent senior bankers, and a lot of people (the smart ones at least) have jumped ship...those who stay are there just to say they are investment bankers. The culture is pretty weak, long hours, with the senior guys dropping pitches going nowhere on analysts who justify their existence solely on the fact that HSBC pays street...Mind you, a deal comes through now and again, but it all in all seems pretty sleepy...LatAm team does a little better, but most of their work is a collaborative effort with Central and South American offices. Other divisions seem to have good cultures, very smart people but if its IBD you're after, especially not LatAm IBD...I'd say keep it very much a last resort. Hope that helps...
What do you think about their NYC S&T division?
S&T seems good in terms of culture. A lot of really personable people, lots of experienced older guys to gain from, with the younger folks all really happy in their jobs. Don't hold me to this, but I understand some divisions (like FX, certain EM related products etc.) are better places to be as businesses, but I overall, I think that S&T at HSBC is hands down better than "STG" ( the M&A/IBD) group. The only key is to get an SA and (even harder) an FT offer. Per what someone above just mentioned, getting coffee is a favorite activity of IBD SA's and FT's alike due to the overwhelming lack of activity in the office. As mentioned, LevFin and Cap Markets seem to at least enjoy some semblance of a real business here in the States...
Thanks Macaco, very informative.
I just looked over my notes from the OCR presentation and heres what I got:
they recruit at emory, indiana, BU, and a handful of others. lev fin is ok (long hours, mediocre pay), STG (M&A) blows. PB has a cool rotation program where you work in a different continent every 6 months or so. overall, dont do it
I applied through OCR 2 days ago for SA IBD.
be fluent in spanish/portuguese...
Fluent in both.
HSBC Information help! (Originally Posted: 12/25/2007)
Hey. I was just looking into HSBC. I was wondering how they rank in the US and globally. Also, the culture of the firm and the prestige. I will probably applying for an internship with them though I am a sophomore. I just wanted to know more about them since I have not heard much about them before. Thanx.
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