HSBC stopped late night allowance for GB / investment banking juniors?
Thoughts??
Mar 26, 2024
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Considering how HSBC EMEA is not the main focus, this makes sense.
.
Perhaps policy could change? Pretty sure this was an oversight. Bring it up with your line manager
I am not bothered about the stipends - 23 quid per night.
You are such an optimist. It is a point to raise but do not think they ll change
I work in HBUS. My optimism as a junior is slowly draining.
Honestly doesn't surprise me.
Huge pressure on Noel to max profits and dividend it out to Ping An and the rest of the hostile shareholders.
They've cut a bunch of top rated people I know at Director and Vp before bonus to cut headcount costs in M&A, LevFin and Sector. Really scummy move. Trued to keep it quiet to signal to street they were not cutting. Was leaked to a number of news outlets.
Advisory fees were up 30% vs 2022 but bonus pool was only 5% larger and that was kept for MDs. Used the excuse that other banks bonuses were flat or down to rationalise keeping the profits for shareholders rather than increasing the bonus pool and rewarding a good year.
Really Toxic culture. Professional politics men lead a lot of the groups rather than deal makers.
Not bad if you're a junior as bonus pool is protected for analyst and associates, so doesn't vary much year on year. Plus if you're a junior who is a a toad / slacker / not good, you're generally protected as a junior by Seniors. Don't ask me why - it's baffling.
If all the juniors band together and become unavailable for 2 hours every night and make it very clear that the reason is because you are going to buy groceries / cook / do dishes and make this known to MDs, I'm pretty sure the policy will come back within a matter of days.
My guy, are you really complaining about having to leave the office by 7:30 every night? You would seriously rather stay there and eat some cold takeout meal delivered by a dude on a bicycle through the pouring cold London rain? smh buy your food and enjoy being home early
Why wouldnt i want free food? Lol
Go boy - that is the right attitude
You slightly missing the point.
Thing is we get kicked out, expected to cook then expected to work. We lose 2-3 hours of workable time because we now have to cook our own food. No one is whining about cooking. You have less time to cook and more pressure on your back as that one associate is waiting for you to return a scenario analysis. Not a healthy culture.
Of the plethora of jokes that exist about Brits cooking ... I'll just simply say it doesn't take 3 hours to boil some chicken.
Before yesterday, I was having fancy sushi through deliveroo every night. eating boil chicken so I can get my slides done in time is a bit grim
You’re in DCM and you work this late?
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