I applied online and got through straight to an assessment centre and subsequently got offered a summer. What we went through in the AC: 1. Numerical test -relatively doable, 3/5 -watch your time though -(if I'm not wrong) 20 questions referring to diagram data like the usual numerical tests except they are haphazardly ordered, for example one diagram may have 4 questions which are not asked consecutively. 2. Case Study -given fictitious companies to evaluate and compare. Objective is to propose one company to acquire -prep time then presentation to 2 assessors, after which group discussion and final recommendation -write a brief memo with the final recommendation 3. Competency Based Interview -asked many teamworkish questions, the usual, why HSBC, values etc 4. 2 Technical Interviews -current events which they will then relate back to how it would affect the investment banking division. eg how will this affect companies and clients -tend to ask in depth questions, make sure you know the subject matter well -valuation methods -IPO and M&As -the last interview was the grilling kind-i.e. the kind trying to put you on the spot. eg brainteasers