HSBC vs other bulge brackets

Question

Hi guys,

I’m currently studying at a target university in the UK and planning to apply for summer internships in investment banking. I’ve been researching the bulge brackets and HSBC caught my eye because of their strong presence in Asia and the UK, and their focus on cross-border deals. However, I’ve noticed that they don’t always come up in conversations alongside firms like Goldman Sachs, Morgan Stanley, or J.P. Morgan.

That said, their EMEA team seems solid, and I’m wondering how selective they really are when it comes to internship recruitment. Do they receive as many applications as the other BBs? And is the interview process just as technical and competitive?

If anyone has gone through the process or interned there recently, I’d really appreciate your thoughts. Thanks so much!

Answer 1

Hey there!
I haven’t gone through the HSBC process personally, but from what I’ve heard, they’re still quite competitive. Especially for roles in London and HK, where they have a strong presence.

Compared to some of the US bulge brackets, HSBC might not always come up first in conversations, but their cross-border focus and strength in certain regions (like Asia and the UK) definitely make them stand out in specific areas.

In terms of the interview process, it’s probably not drastically different. You can expect the usual mix of technicals, market questions, and personal fit. It makes sense to prepare just as thoroughly.

If you’re interested in their international angle, I think it’s definitely worth applying. And sometimes the “best” fit depends more on team culture and focus than pure brand name.

Hope that helps a bit!
Rita

Answer 2

Hey there,

HSBC is often seen as a strong contender in investment banking, especially given its strategic focus on cross-border deals and its solid presence in both Asia and the UK. While it might not have the same global brand recognition or prestige as Goldman Sachs, Morgan Stanley, or J.P. Morgan, HSBC’s EMEA team is well-regarded and offers meaningful exposure to international transactions. Their culture tends to be a bit more collaborative and less cutthroat, which can appeal to certain candidates.

In terms of internship recruitment, HSBC is selective but generally receives fewer applications compared to the top-tier bulge brackets, making it slightly less competitive but still rigorous. The interview process remains technical and demanding, focusing on financial knowledge, case studies, and fit, so preparation should be just as thorough. Interning at HSBC can provide valuable experience, particularly if you’re interested in cross-border deals and emerging markets.