HSBC Canada

  www.hsbc.ca
  www.hsbc.ca

HSBC Canada Reviews

Updated October 1, 2014
Updated October 1, 2014
169 Reviews
3.3
169 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
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Paulo Maia
9 Ratings

Review Highlights

Pros
  • Where positions allow it, they offer the best work-life balance you could find (in 10 reviews)

  • Good benefits, in the IT department folks generally get 25-30 days of annual vacation (in 10 reviews)


Cons
  • Long hours, not much work life balance (in 6 reviews)

  • Extremely long hours, and your lunch time can be sacrificed at the whim of a manager (in 7 reviews)

More Highlights

29 Employee Reviews Back to all reviews

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  1.  

    Frustrating at times

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Personal Banker in Vancouver, BC (Canada)
    Current Employee - Personal Banker in Vancouver, BC (Canada)

    I have been working at HSBC Canada full-time (more than 3 years)

    Pros

    Great people and relaxed atmosphere at times

    Cons

    Pay, upper management and the bank's lack of knowledge of what direction to take

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 3 people found this helpful  

    Could be good but isn't

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at HSBC Canada full-time (less than an year)

    Pros

    Work / life balance is OK. Employees at my level are actively encouraged to work from home 1, 2 or 3 days per week. During the day there's a lot of freedom to go about doing your thing without having people hover over you. As an employee you're treated as an adult with appropriate give and take.

    The company is also by far the most global I've ever been a part of. Many companies claim to be global by nature of having offices everywhere. But at HSBC there is far more global collaboration than what I've experienced elsewhere. If you serve your time, there are opportunities to move internationally as well. The majority of people I work with are not from Canada even though we all work out of the same office now.

    On the whole, corporate values are fairly open. Right now for example, HSBC is sponsoring a few events for World Pride. Internally there are posters encouraging employees to participate in Pride events as well. World Cup 2014 is currently in full swing in Brazil and many employees are taking full advantage of excellent TV coverage to watch games, participate in pools etc. So there is definitely a light-hearted aspect of HSBC which is embraced.

    Cons

    I consider my pay to be low. The time-off policy is not overly restrictive, but it's an oddity to me in that you get x days off (depends on seniority) but if you're sick that counts as time off. So you're not supposed to take 100% of your time off as vacation, but rather leave a day or 2 "in the bank" just in case you get sick.

    The biggest con of HSBC Canada though is that there's no sense of urgency in anything and thus no sense of direction. To me it feels like I'm working with a gigantic blob of Jello. The mass kind of jiggles and moves in a direction that's roughly forward, but it's really slow going. And when you contribute your bit, the mass just kind of jiggles some more without really feeling like there's forward momentum.

    Without a sense of urgency, everything just slows down as people ease up. So we end up doing stupid things like creating spreadsheets which then need to be manually copied to Powerpoint which then gets emailed out as an update which no one really pays attention to anyway. But hey - we have a deck and somehow that's perceived as being a Good Thing.

    People development does not seem to be a priority either. As a new hire I was thrown 20 or so web-based trainings (which taught me nothing new really) and I got to attend a couple of conference call / trainings. Other than that, I find I need to rely on my own initiative to learn how stuff really works at HSBC and who does what. There is essentially no formal training for on boarding a new employee and as far as I can tell, no policy for internal training let alone external third-party training courses. I suppose if I build a case and ask I might be allowed to attend some course somewhere, but it's up to me and my initiative. I don't think HSBC will proactively initiate training unless it's another web-based compliance thing.

    Advice to ManagementAdvice

    Stop planning everything to the most minute of details. We don't **need** a Powerpoint for everything! Sometimes discussing a plan then moving to execution is OK. There are too many people who hide behind the excuse of "we need a deck".

    Another thing to do is ease up a bit on the culture of compliance. Compliance with relevant laws is an obvious must.But how we do it matters. We should not be overly compliant at the expense of making it too hard to do business with us.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3. 1 person found this helpful  

    A lot of frustration with inefficiencies, poor management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at HSBC Canada

    Pros

    International opportunities and network are helpful. Lots of training tools internally and good learning experience in the short term

    Cons

    Lots of sales pressure, compensation is not always reflective of performance, a lot of inefficiencies which create unnecessary work loads.

    Doesn't Recommend
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  5. 1 person found this helpful  

    Too many structural/process changes in recent years and to date that negatively affect the client.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Premium Banker
    Former Employee - Premium Banker

    I worked at HSBC Canada full-time (more than 3 years)

    Pros

    Health/dental/insurance and pension plans were decent compared to other FIs.

    Cons

    Low salary and bonuses with high sales expectation regardless of which demographic you live in. Same goals across the country. Credit processes take too long, branch has no authority to approve credit or overdraft reports, no longer account managers or relationship managers in bank unless Premier which not all branches have. End result, a lot of unhappy customers especially long term loyal customers.

    Advice to ManagementAdvice

    Managers should have minimal educational backgrounds and have leadership/management training. Not just inherited positions due to structural changes. Good leaders can make all the difference for employee job satisfaction and employee retention.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  6. 1 person found this helpful  

    Horrible

    Current Employee - Premier Relationship Manager
    Current Employee - Premier Relationship Manager

    I have been working at HSBC Canada full-time

    Pros

    Nice people
    Hard working employees
    Offices look nice - HSBC has spent a lot renovating the branches
    Some managers are very knowledgeable

    Cons

    No training, confused management, lack of direction, system is from the stone ages - everything is kept in PAPER FILES so things are always getting lost - important documents getting lost all the time, it is CHAOS, people work way over time and are expected to do so - its the only way to get things done since everything takes 10 times longer than it should because everything is MANUAL. Piles and piles of paper work. Product pushing,

    Advice to ManagementAdvice

    See: CONS

  7.  

    Personal Banker at HSBC

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Personal Banker in Richmond, BC (Canada)
    Current Employee - Personal Banker in Richmond, BC (Canada)

    I have been working at HSBC Canada part-time (more than an year)

    Pros

    -Easy to get in
    -Good clients

    Cons

    -Managers picking favourites
    -When making referrals, IRs are slow at their jobs and have to book at a later date

    Advice to ManagementAdvice

    -Help promote the younger staff
    -quit picking favourties
    -increase diversity rather than picking cantonese speaking IRs and chinese speaking IRs

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    Provided my foundations of banking, albeit with little training.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Account Manager in Waterloo, ON (Canada)
    Former Employee - Account Manager in Waterloo, ON (Canada)

    I worked at HSBC Canada full-time (more than 5 years)

    Pros

    Fast paced immersion into the field and real pros at L&D;
    Excellent benefits and banking packages, especially compared to Canadian banks;
    Share save program

    Cons

    Low pay;
    Poor management;
    Poor oversight of management;
    Big changes directly affecting employees kept in high secrecy;
    Frequent firings and resignations, high turn around and heavier workload on those who remain;
    Prefers external hires for proportions;
    Branch managers have limited k owl edge and too much control;
    Branches exhibit highly negative environments perceivable by clients;

    Advice to ManagementAdvice

    Take HR complaints seriously! When a branch loses 10+ employees a year in a branch of 15, investigate management. Champion the implementing of the diversity initiative... Racism homophobia runs rampant.

    Doesn't Recommend
    Negative Outlook
  9. 1 person found this helpful  

    Complete and utter frenzy of ineptitude

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Vancouver, BC (Canada)
    Former Employee - Anonymous Employee in Vancouver, BC (Canada)

    I worked at HSBC Canada full-time (more than 3 years)

    Pros

    They pay you on time.

    Cons

    They continue to over work and undervalue and underpay all their employees. You're not an employee, you're their slave.

    Advice to ManagementAdvice

    The answer to increasing revenues is not to lay off all your employees.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10.  

    HSBC Bank Canada

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Clerk
    Current Employee - Clerk

    I have been working at HSBC Canada full-time (more than 5 years)

    Pros

    International opportunities
    Health and dental benefits
    Pension and savings plans available
    Vacation days from 15 to 30 weekdays

    Cons

    Bureaucratic - many decision-making are at discretion of manager, often find managers using discretion for own purposes (i.e. not allowing career advancement due to poorly planned succession)

    Underpaid - there's not really a clear objective set.. again at the discretion of manager.

    Recommends
  11. 1 person found this helpful  

    Unefficient Working Environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Premium Banker in Richmond, BC (Canada)
    Current Employee - Premium Banker in Richmond, BC (Canada)

    I have been working at HSBC Canada full-time (more than 3 years)

    Pros

    HSBC provides good benefits and paid vacations. I appreciate they greatly contribute to build a green company building to help taking steps to sustain our environment.

    Cons

    Too much sales pressure. Lack of communication between departments. System is not streamlined. Spending too much time on paper work and doing repetitive work.

    Advice to ManagementAdvice

    Should overcome system obstacles in order for employees to work efficiently. Employees are burned out because we are constantly short of staff.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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