Thoughts on HSBC?

The only time I hear about HSBC on this forum is when people are making money laundering jokes. However, I wanted to inquire as to what life is like at the firm and if you know anyone there or work there yourselves and what exits are like. 

I know they are not a BB but they are still a very large bank and a huge player in Europe and Asia and I never hear anyone complain about working there or go out of their way to praise them even. I am also curious as to what HSBC's reputation is among finance professionals 

Comments (58)

  • Analyst 1 in IB - Cov
Apr 23, 2021 - 1:04pm

shit bank that only has clout in asia

  • Analyst 1 in IB - Gen
Apr 23, 2021 - 1:50pm

read their latest 10k. exiting US and moving into Asia... even their head of banking are relocating to HongKong. Just run if you are recruiting for them in the US, I would take any reputable MM over HSBC. absolutely no dealflow, you do get better hours if that's what you are looking for since there are no deals but below street bonus as a result.

  • Analyst 1 in IB - Gen
Apr 23, 2021 - 1:55pm

talked to a buddy in their analyst program and can confirm... morale is super low at the moment across the bank

  • Analyst 1 in IB - Gen
Apr 23, 2021 - 7:28pm

 its a bloodbath ...all senior hires are from the external banks with no intention to develop and groom internal talent. no A2A as well.

  • Intern in Acct - Audit
Apr 24, 2021 - 12:33pm

Thats insane that a bank so large does not have an A2A. I dont have an offer from them but was interested in applying for an internship next year.I did not think they would have been that bad as I never hear from anyone who works there like in Apollo or Moelis who are known sweatshops

Most Helpful
  • Associate 1 in PE - Other
Apr 24, 2021 - 3:10pm

Let's think about what make juniors stay? 

1. If you want to go to a big name/MF PE, you need to lateral to BB/EB, so you leave 

2. If you just want a PE job in MM/ LMM/ infra fund, you actively interview in your junior years, then you leave 

3. If you like to do banking in long term, you lateral to other BB/EB for a better career, you leave 

4. If you just want money, and you realise bonus is shxt, you go to other BB/EB/MM boutiques, you leave 

5. If you want WLB, and you realise you constantly work on pitches until 1-2am, you leave 

Conclusion: you may like the team/people but unfortunately there is no reason for you to stay

  • Analyst 1 in IB - Gen
Apr 23, 2021 - 7:28pm

i wouldnt regard them as a bb in the US maybe in Asia but they have no deal flow in the us 

  • VP in IB - Gen
Apr 23, 2021 - 5:47pm

lol?  that's ludicrous.  why would they do that for capital markets employees?  seems like it would cost more money than it saves.

Apr 23, 2021 - 5:57pm
TheFlyingKiwi, what's your opinion? Comment below:

lmao our VPN is also those levels. 10% of what my normal speed is. Infuriating going through shared drives and moving documents around.

luckily thought I only need VPN for the shared space. So I can operate normally without it on (Factset, own Onedrive account, email etc)

Go all the way

  • Analyst 1 in IB - Cov
Jun 27, 2021 - 7:56pm

Dog shit bank. Do not go unless you want to cry every night as your Factset refreshes for 3 hours from 1am to 4am as HSBC decided to limit internet speeds on their VPN to 10mbps

This is so true

  • Analyst 1 in IB - Gen
Apr 23, 2021 - 7:30pm

good presence in Asia but would not consider unless it is your last option 

  • Intern in Acct - Audit
Apr 24, 2021 - 12:30pm

I am kinda hoping someone who works there can chime in. Seems like a negative reputation across the board

  • Intern in IB - Gen
Apr 25, 2021 - 11:05am

can confirm the majority of the comments above .. one of my buddies is a junior in the NYC office and is looking to lateral asap due to all of the above. 

  • Prospect in IB - Cov
May 6, 2021 - 3:02pm

How is their LAF team comp/exit ops for analysts? Worth it over pursuing MM coverage? 

  • Intern in IB-M&A
May 7, 2021 - 3:36pm

Any positive reviews at all? Does anyone know how their analysts do in PE recruiting?

  • Incoming Analyst in IB-M&A
May 7, 2021 - 6:13pm

I spoke with an alumni who was an Associate in their Coverage group in [W. Europe capital]. Apparently, their operations in Europe were hurting pretty bad and they'd had to lay off a pretty big chunk of their IB staff. As people said, priorities seem to be re-focusing on Asia. That said, heard no negatives from him - he liked the role and had been enjoying pretty rapid career progression, plus good mobility between group.

  • Intern in IB-M&A
May 8, 2021 - 3:58pm

What about good MM? Checked LinkedIn and did not really see that many people...

  • Analyst 1 in IB - Cov
Jun 27, 2021 - 7:58pm

Dog shit bank. Do not go unless you want to cry every night as your Factset refreshes for 3 hours from 1am to 4am as HSBC decided to limit internet speeds on their VPN to 10mbps

bump

  • Analyst 1 in IB - Cov
Jan 19, 2022 - 5:21pm

Bump. Has anything changed since a lot of ppl left? Would imagine they would do something. How is the culture, wlb and experience now?

  • Analyst 1 in Acct - Audit
Feb 4, 2022 - 6:40am

Currently in their corporate banking arm. wlb is so good i feel like im stealing money plus i get to work on a lot of really interesting deals

Jan 20, 2022 - 5:17pm
90210, what's your opinion? Comment below:

I work in the Krakow office, so I know its not exactly the same culture/vibe as in a front office location, but from my experience I would say that the firm unfortunately is very bureaucratic. The employees are fine, but systems are old and slow. You need a ticket for the simplest questions/issues and internal communication is bad. Benefits and opportunities are ok, but it definitely has a lot to improve which others seem to be aware of as well, yet seem to do very little about it...

Feb 6, 2022 - 7:54am
TheBuellerBanker, what's your opinion? Comment below:

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Feb 15, 2022 - 2:55am
private_reserve, what's your opinion? Comment below:

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  • Analyst 2 in IB - Cov
Feb 21, 2022 - 1:19am

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