HSBC Bank plc

The overview

The adverts state that this is ‘The World’s Local Bank’, and HSBC’s operations span the globe. The company has a particular focus on emerging markets. It anticipates an economic shift from west to east and has been concentrating its efforts accordingly, but has also pursued an interest in countries such as Mexico and Turkey.

Most of the graduate schemes on offer are based in the retail and commercial division. Other opportunities include the international management programme.

HSBC Restructure

Operational cost reduction may affect some areas more than others.

Changes to the company are expected following the appointment of new company chief executive Stuart Gulliver last year. These will aim to ensure the bank’s future stability. In the early stages, this has resulted in a reduction or removal of business from areas that were not reaching targets - operations in Russia, Chile, Poland, El Salvador, Honduras and Costa Rica have all been affected.

HSBC emerged relatively unscathed from the credit crisis. Its core businesses remained stable, and the company did not suffer a significant drop in graduate recruitment or profit margins.

However, it is making further efforts to improve efficiency and reduce its operational cost outlay, such as identifying key markets as mentioned above. This also means that wealth management, retail and IT operations may be affected. Some staff may be moved round the organisation and possibly relocated internationally.

The current focus appears to be to continue to play to the company’s strengths in the Asian market, while maintaining a significant presence in Europe. The UK, US and Central Europe continue to be important areas for HSBC’s future plans. The bank recently sold its business in four South American countries as part of the ongoing changes. Initial figures are promising, with HSBC reporting $2 billion cost savings in the first year of its three-year restructuing plan.

Rankings and awards

• Awarded Platinum by ideasUK, an association for organisations that operate employee suggestion schemes, 2011
• Most popular graduate recruiter in banking, insurance and financial services, TARGETjobs National Graduate Recruitment Awards, 2011 and 2012
• Ranked 12 in Times Top 100, 2011–12
• Ranked 18 in Guardian UK300, 2011

Salary and benefits

HSBC is very open about its graduate salaries. HSBC Retail and Commercial schemes are pretty solid middle-ground payers. Salaries may differ slightly within the six different streams (see Graduate jobs explained in the Careers and training tab), but candidates apply for posts offering somewhere between £20,000 and £25,000. There are additional location allowances if based in large city.

In contrast the European management scheme is 'competitive to local country’.

Benefits

• Incentive schemes
• 25 days' holiday
• Contributory pension scheme
• Share schemes
• Preferential rates on HSBC products
• Flexible benefits scheme
• Discounted travel
• Employee recognition schemes