HSBC Holdings Reviews in London, UK Area

Pros

Truly global bank
Diversified across GBM, Retail and Corporate
Employees stay at the bank for life

Cons

Large banks means silos
Employees stay at the bank for life, rigid, not prepared to change despite obvious benefits

Advice to Senior Management

Drive accountability harder within IT

Pros

great office environment
good benefits (kind of)
innovative thinkers
well respected global brand
marketable to future employers
efforts towards global programs

Cons

awful management in HR
poor communication
lack of transparency
bad, not actually awful on boarding experience
poor pay
no recognition for delivery of work
expected to work incredibly long hours
old boys (and girls) club - not welcoming to new people

HSBC is an amazing brand, and externally it is seen as an amazing place to have on your resume, unfortunately in my experience is was entirely the opposite, the worst place I have ever worked for nearly every reason imaginable. The only plus is that there are some amazing people there, skilled, talented, and professional but sadly they aren't words i'd use for any of the management staff in the HR team.

Advice to Senior Management

Remove the old dead wood in your management layers, they have been there too long and are only interesting in padding their own desks and those of their mates.

Pros

Very global opportunities, supportive culture, comprehensive training program. Good platform for collaboration between different divisions. good internal mobility. nice people

Cons

Not very challenging. People might not be the most motivated, driven you have come across at other banks. however, everyone is very supportive of your progress.

Advice to Senior Management

One thing HSBC can do to attract more talented individuals is to put more effort in campus recruitment. Particularly, the global banking and market arm has a very strong internship program but is underpublicized on campus.

Pros

Great management team which identifies risks and opportunities as best as anyone else.
Excellent level of investment in facilities and training for employees.
Feedback on work is very good.

Cons

Interviews for very junior positions are with some very senior people which is not entirely advisable.
Growing to become a bigger Investment Bank and besides DCM does not really match with its competitors.

Pros

Good company, flexible working patterns

Cons

sometimes feel that you are not getting the full picture

Pros

Global reach with a presence in the most vibrant economies in the world. Not the best payers, but a better work life balance than the American bulge bracket houses.

Cons

Senior management are more comfortable with fixed income and currency products than they are with equities and corporate finance.

Advice to Senior Management

Capitalise on your strong relationships with Asian corporates and take share from the American houses while they are down on their luck!

Pros

1. Large Bank has many opportunities of mobility internally
2. Good work life balance in some areas
3. Freindly people

Cons

1. Poor systems architecture, very outdated, eg using Lotus Notes for email.
2. Poor Management and Direction
3. Very slow in decsion making and getting things done

Advice to Senior Management

Review management and training. Poor Managers should be demoted as has negative impact on staff morale.

Pros

Great opportunities for professional developement

Cons

Low pay in the retail banking arm

Advice to Senior Management

n/a

Pros

HSBC is so large and global, one can always find something interesting to do, and if not, it should be possible to build out your own opportunity. If you find an exploited pocket, go for it. Just know that it's unlikely that your efforts will gain you any status in the long run.

Cons

The company lacks a strategy, except to "survive". This means means low risk appetite, poor internal investment, and conservatism & lack of drive. Management flits from plan to plan, leaving those under them to suffer consequences of constant turmoil. Employees should not expect any return (monetary or appreciation or otherwise) for their efforts.

Advice to Senior Management

Focus on trying to make money instead of running about the bureaucratic maze. Abandon the "change for change's sake" outlook. And start paying normal wages: rhe entire UK banking world has raised base salaries in 2010, you still lag.

Pros

- I had a VP who was given great working hour flexibility during his wife's pregancy
- Workload is relatively less than bulge brackets

Cons

- Compensation and advancement is on the slow track
- Meritocracy is minimal
- You may be stuck there, as the market find you less competitive than other banks

Advice to Senior Management

Have an up or out policy. People stagnate in HSBC and at best, rotate around various departments due to inability to move out of the company, not because of loyalty.