HSBC Pay & benefits reviews
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Felt like I had to do a review because the one posted during my exit time is fake. Started with a psychopath manager who bragged about fighting bums in his spare time. That was interesting and very stressful.Started fresh, went through some turbulence, then had some great periods of growth. Ended with a non market salary, bad community perception and deals I was sourcing were going to others. Is what it is.
Corporate Direction (China), Salary and Favourtism
I thoroughly enjoyed working for HSBC. at my branch there was sufficient training and grooming for advancement. I had amazing senior personelle and I would work there again in the future. Great benefits. Only downside was in my area there wasn't enough hours to keep me busy as a personal banker full time.
Just not enough hours
HSBC claims they value their employees & I do agree there are good benefits & programs, however the management is the worst. Those favored will get a higher wage & annual bonuses. The CSR's are paid so little. There are branch's that are very rude & do not care for their employees well-being.
je ne généraliserai pas car chaque environnement de travail a ses particularités , ce n'est pas l'employeur le problème mais plutôt les personnes mises en place pour la gestion qui pose problème, mon expérience pour ma part n'a pas été réjouissante raison pour laquelle je ne tiendrai pas rigueur a HSBC et recommande toutefois cet employeur, cependant les heures offertes posent parfois problème car le temps partiel n'est pas favorable a des personnes qui voudraient gagner leur vie ce qui peut être une raison de découragement et de perte de motivation.
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Worked there for 12 years in different teams. Majority of myteam (over 50 people) got let go this year, with another team i used to be going to be cut at the end of the year, which is a very common theme in the bank as over 500 people have been let go over the last few years so there is 0 job security and they don't try to retain their employees by re positioning them. Most managers are old and/or don't know how to manage their teams, only know how to shift blame and push for artificial numbers.
Decent benefits/work life
Lots of idiot middle managers, low pay compared to other banks, hard to move up, teams can get offshored at any minute
Good company with - flexible work hours - remote working - benefits better than average However, due to constant restructuring and reorganization, no one is safe. There is a constant fear that you will get laid off. People come and go on a regular basis.
HR department only takes action when it’s convenient for them when it comes to cost cutting, otherwise is completely useless. Mistreatment of employee is a daily fact. No work culture whatsoever, gossips between employees is in a whole new level. Micromanagement is brutal and when the situations is escalated to the manager things will change for a week top. Customer service is the worst, especially for employees. Salary is the lowest compared to other financial institutions in similar roles. Long hours, overtime is hard to get it approved. Really hard to move up (career progression) as the bank only hires twice a year because of budget. Even if personnel is needed you will have to take the workload of a 2-3 people’s job until they decide when to hire. Forget about being rewarded for this, you get nothing and be aware that your bonus is based on you performance so even if you are great at your job and you never get what you deserve because it will never be great to your manager. Very disappointing organization to work for and the experience you get could be worth nothing as they have stupid policies and procedures in place that no other bank uses nowadays, pretty much unique obsolete systems and platforms.
Great head office location
Everything is wrong with this place
Let's start with pro's: good - HSBC still has a stellar brand, despite everything. good - the bank is huge, and theoretically can provide a rich and wide-ranging career. good - there are some good managers, great employees, awesome and interesting clients. good - outstanding international and currency capabilities and a host of good (but often not great) products technology - this is a consistent theme, but it has to be said. Where technology can lift some banks up, at HSBC it's a consistent tailwind demotivating management - higher ups endlessly focus on the negative, all about 'what' was achieved - rarely 'why' - and less of a focus on what people actually control and can do something about.... A regional update is always nice, but each person only controls their own results - why not focus on this? A sense of collective punishment is the result, many staff just tune out the calls. Poor processes - still uses manilla folders from 1950s because...why not? Bureaucratic - 5 different departments needed to complete a single operation. This is normal for banks, but HSBC takes it to an extreme. Low pay - average or below market compensation ad-hoc approach to designations - highly tenured staff that deal with some of the banks top clients are excused from having even the bare minimum of appropriate qualifications (?) At other firms you 'must' have appropriate designations and a focus on continuing education, at HSBC it's an afterthought. Long hours - weak work/life balance. I actually don't mind long hours when the team is working together and everyone's pulling - more...
Some outstanding - even incredible colleagues. Brand still has some prestige.
The company needs to be reengineered from the ground up.
Culture is lacking at HSBC, the "bank" want you to treat the customer fairly however you are bound by rules and regulations making I difficult to tailor your service and really help in a timely manner. You will have to multitask and flit between roles many covering the grade above you. For this you are not compensated for. Difficult not to be taken advantage of as this is an appraisal world and it can go against you if you cannot perform whist taking on the extra workloads. Up skilling is very rare, they would rather recruit from outside of the organization than develop their committed staff. Salary isn't great until you get to director (GCB3 and above roles).
Annual leave in Canada in great (5 weeks)