HSBC Holdings

  www.hsbc.com
  www.hsbc.com
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1 person found this helpful  

Some candid feedback on middle market banking

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Business Relationship Manager in New York, NY
Current Employee - Business Relationship Manager in New York, NY

I have been working at HSBC Holdings

Pros

Growth of company creates opportunities. Seems to value results but does not seem to like dissent.

Cons

Very conservative credit culture. Senior management needs to have a better grip on the "nuts and bolts" of how the operation is run and how to improve it as there is much room for improvement.

Advice to ManagementAdvice

For senior management of middle market baking - stop being so heavy handed and inflexible.

Although they are clearly smart people, they need to get a better feel for middle market lending, the people that work for them, the customers, and credit (our #1 product). It is very clear that they have little actual experience in the US middle market.

Also - need to stop forcing corporate initiatives (the brand, one bank, etc.) that may not be applicable in each segment of the business.

Recommends
No opinion of CEO

990 Other Employee Reviews for HSBC Holdings (View Most Recent)

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  1. 1 person found this helpful  

    Good company to work for, just have to learn how to play the game

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Technical Officer in Buffalo, NY
    Current Employee - Technical Officer in Buffalo, NY

    I have been working at HSBC Holdings

    Pros

    The company's global scale does allow for many opportunities. The company is also very generous with its benefits packages, providing options that most private employers shun. In terms of compensation, the salary ranges can vary widely - it all depends on the location where you're working. Of course, there is an emphasis on experience when it comes to salary, but corporate culture is very hush hush about pay rates.

    Cons

    There are some decisions that come down from the top that just make you shake your head. The company is global that the 'Chiefs' speak, but it really doesn't do anything because executive and middle management has no interest in changing what they're doing, for fear of losing their own job. Also, the company is continually looking to offshore jobs in the US to Sri Lanka, China and India. This hurts morale in the US and creates tension between the locations as the job ethos in the US is different than in Sri Lanka, China and India.

    The bank's culture is also very secluded. You don't say one thing to one manager because it might upset him/her and come back to your manager - you can't just do your job, you always have to play the politics game.

    Advice to ManagementAdvice

    While it's understandable that senior management has to worry about the company as a whole, it might be time to start looking at the little people. Of course, with 300k employees that would be an almost impossible task - the Global People Survey is a good start, but many wonder if it actually does anything. Instead of breeding a culture where communication has to go through 'proper channels' at all times, senior management should be looking at fostering open communication from all levels of the company.

    Recommends
    Approves of CEO
  2. 2 people found this helpful  

    Work for HSBC. But not for Household Finance, which it acquired in 2003

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee in Brandon, FL
    Current Employee - Anonymous Employee in Brandon, FL

    I have been working at HSBC Holdings

    Pros

    HSBC has a very big Brand name and value, which is one of the most prominent reasons to work. Once you get in, keep looking for the right opportunity within, and make moves at the most opportune time and it will help you climb up the ranks. HSBC is a leader in making use of the latest in banking technologies and also it has a huge IT infrastructure. It has adopted a global offshoring strategy where it has support and development centers spread across different Asian & Latin countries. It is really a magnum opus managing such a giant. It is a great company to start.

    Cons

    Ratings and reviews of one employee might not truly reflect the company as a whole. For example, an employee's job satisfaction might depend on how his immediate manager treats him. One such example is my rating of the company. It is also necessary for such a huge company to devise a mechanism to identify pockets of inefficiencies and problem areas. HSBC recently bought Household Finance on 2003. Household finance is one of the pooly managed companies. HSBC made a big mistage on that. It's totally a mess. Other business units like HSBC Bank, Investment Banking, Capital Asset Management and also HSBC units in other countries like India, UK are good to work for.

    Advice to ManagementAdvice

    Senior management is not aware of holes and inefficiencies in processes in the bottom level. As a result they are saving money by cutting on coffee cups.

    Doesn't Recommend
    Approves of CEO
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