Seems as though HSBC is a ghosttown on this forum since I have yet to see a thread about them in months. Are they really that bad or is it because they are an internationally focused bank?
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Heya Bill, I believe HSBC and Standard Chartered are British banks that makes most of their revenue (and hence headcount?) in Asia, so perhaps it doesn't get as much exposure here as the rest (and maybe rightly so given they aren't considered BB in most parts of the world).
As I'm based in Asia, perhaps I can give you some insights on what i know. a. hours are on the upper end b. base comps are reportedly the highest in Asia, even taking into account the BBs c. because of (b), seniors like to work juniors hard d. very healthy deal flow most of the time though personally I haven't heard them being involved in more high profile deals in recent times
Hi Schnoozles, I've heard the same about comps. Any idea on what the numbers are like?
From my sources, its pretty close to US$ 120k a year. And after taking into account the relatively low taxes in Asia... Viola.
Can't confirm 100%, other comments appreciated
They were considering relocating their HQ from London to Hong Kong. Maybe not really, but it says a lot about where their opportunities are.
bump
They are active a little bit in Canada and LatAm/Brazil but really focus on Asia. Their NY office is more Corporate Banking and trading focused.
Active in central America. Biggest deal last year was the Sinaloa cartel done by their ECM group. Compensation is either plata o plomo, hours are very long. Great exit opps into the Medellìn Cartel and the Cali Cartel, both great Healthcare shops
I see what you did there.
HSBC has no exit ops to isis?
TBC
Wouldn't be surprised if their Nat Res or A&D groups have a finger in that pie too.
Hahaha nice
HSBC been catching too many cases
I have a friend at HSBC in DCM. He's pretty happy generally Pros - good comp (comparable to mid tier BB), good hours, if you're good and want to stay the firm takes notice Cons - not really innovative - rarely lead advisor on anything, beaurocatic, business model v relationship driven
Think the reason you don't hear about them here is because everyone is focused on 'prestige'. Prestige can be important for exit opps and those who aren't sure what they want to do long term (not that exit to buyside isn't possible from a place like HSBC - just more hustle/networking required)
Also - they're strength is Asia>>EU>>>>US. heard they are strong in MENA as well.
This is pretty spot on, especially on the prestige bit. However, I know enough examples of HSBC buy-side jumps. Recent reorganisation of IBD is focused on supporting innovation and becoming more relationship driven. They poached Goldman's EMEA CEO to run the show (and most likely the company when Stuart leaves)
Another pro of the bank, is that it is considered to be a safe haven in the market. Compare share price development and dividend yield to the other banks, and you can see what I mean. Bankers tend to stick around and jump within the bank. Low chances of getting fired if you can prove to be of value to other teams as well.
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