HSBC Employee Review
Get experience and move along
- Sunday, October 27, 2024
- New York, NY
Pros
-Good benefits package, especially lower out of pocket costs for healthcare. -Training massively improved, particularly over last 6-7 years. -If you know how or learn to automate anything (even via Excel), you will be -Easier to fail upward
Cons
-Standards lag behind peers. -Decades-old issues continue to be band-aided instead of addressed head-on and in a sustainable manner. -Old school emphasis on working hard instead of working smarter -Overpromising and underdelivering on efficiency initiatives -Offshoring used as a Swiss-Army knife for cost issues (see above re: band-aid approach) -Difficult to perform role without major compromise as administrative tasks consume large part of nearly all roles; little done to help employees day-to-day over last 5 years despite lagging pulse surveys. -Longstanding RACI issues in roles, regardless of business, result in many with a desire to and/or a track record of expertise in pushing improvement wearing hats extending well beyond intended scope of role. -Executive management dated in terms of philosophy and management style. -Strategy of nearly all the "eggs in one basket" re: Asia profitable, but, obviously quite risky and creating resentment amongst Asian stakeholders (leading to largest Asian shareholder to propose breaking up the firm which sent the Board on a charm offensive to assuage concerns and sway the vote). -Frenzied, unfocused environment (which can be said about the last firm that's convinced it can do everything its peers divested from years ago due to risk, profitability, sustainability, etc.) -Higher than average voluntary attrition and targeted reductions skewed toward higher performers creating challenging headwinds. -Executive management and messaging re: Russian assets (HSBC Bank (RR)) bordered on misinformation, but, at least payments finally stopped on 08SEP2023 (see points re: management above) when it truly became unsustainable from a profitability perspective.
Comments
Ratings
C - Salary & Benefits | C - Culture | F - Management | C - Coworkers
Other Employee Reviews at HSBC
GoodPortfolio Manager | China, ME
Friday, December 20, 2024Salary - A | Culture - A | Management - A | Coworkers - A
Pros: Complete system, large scale, complete training system, good employee care, good benefits, multi-year vacation, home office, union travel
Cons: Limited room for advancement, insufficient salary increases, and too detailed division of laborGreat place to work, if you manage to avoid the restructuring axeFinancial Crime Compliance Officer | Buffalo, NY
Thursday, December 19, 2024Salary - A | Culture - C | Management - B | Coworkers - C
Pros: Extremely flexible working conditions. Beautiful new downtown Buffalo office location. Generous benefits package, including parental leave. Generous time-off. Progressive culture.
Cons: They are constantly restructuring and changing strategies every few years. They talk big game about well-being but will eliminate the positions of top performers who have years of expertise, with no warning, right before the holiday season. They are moving more and more FC compliance jobs to "centers of excellence" in non-US countries to cut costs - despite employees in those places not having the appropriate training, expertise, and support to succeed. Their tech support for systems access/issues is dismal. Few opportunities for career advancement or even lateral moves.It's okayCollector | Brandon, FL
Wednesday, December 18, 2024Salary - | Culture - | Management - | Coworkers - B
Pros: It's a job. Needed one another time.
Cons: Poor training was given for roleCompensation reviewDirector | New York, NY
Tuesday, December 17, 2024Salary - D | Culture - B | Management - | Coworkers - D
Pros: Great people to work with.
Cons: Pay range is on the lower scale compare to other firms of similar size.GoodProject Manager | Poland, OH
Monday, December 16, 2024Salary - A | Culture - A | Management - A | Coworkers - A
Pros: All good nothing to add
Cons: No problem at all till now
