Do HSBC have Quants?

[amraj]

Hi,

I started an 8 week internship with HSBC in commercial banking 3 weeks ago. It is very interesting and a decent department for my first ever experience in banking. However, the work is not challenging enough, and there is a lack of Maths used. I asked my manager for tasks involving Maths such as modelling, but they don't seem to have any. The majority of task are Excel spreadsheet related.
I've spoken to some other interns, and they told me their manager allowed them to spend some time in a different department. After hearing this, I thought I should ask to spend some time in an area that uses maths. I have not had any experience in a quant area yet, so I'm not sure on which specific area I prefer, such as more towards modelling or tools. Also, I have no idea if HSBC even have a quant area, and if they do, how large it is. So my questions are:

1) Which area(s) would you recommend I ask to spend some time in?

2) How should I ask them to spend some days there?

The reason I think it is worth asking is that I am inside a bank at the moment, so I should make use of any opportunities I can. Experience is key when applying for quant jobs, so having only commercial banking on the CV will be much much weaker than even a few days of Quant related experience.

 

[Keith Tan]

you're not happy to be in this department, so which department do you think you will be happy in?

the only valid kind of answer to these sort of questions would be: spend time on areas where you really like.

there are so many types of quants that you might want to look deeper and see which areas suit you, such as: credit risk quant, market risk quant, quant dev...

 

[amraj]

you're not happy to be in this department, so which department do you think you will be happy in?

the only valid kind of answer to these sort of questions would be: spend time on areas where you really like.

there are so many types of quants that you might want to look deeper and see which areas suit you, such as: credit risk quant, market risk quant, quant dev...

Thanks for reply.

The reason I'm not happy here is that the tasks are not challenging at all (including tasks for the experienced employees) and a lack of maths used, and I want to make use of maths in my career.

I think the best way to get an idea of the precise area is by spending a few days in some of these areas. So I wanted some information on what Quant areas HSBC is likely to have, and how to ask the manager in the most appropriate way.

Thanks again.

 

[C S]

Hi,
Experience is key when applying for quant jobs, so having only commercial banking on the CV will be much much weaker than even a few days of Quant related experience.

Emphasizing a few days work over the bulk of what you do will make your resume weaker because anybody that finds this out will realize you prefer flash over substance.

Rather than arrogantly demanding of your manager to find you tasks you prefer, use the remaining time wisely and make yourself indispensable. No matter how little you respect the work you do and your manager, a lot of people, even rockstar quants, are going to value his/her recommendation that says you were a hard worker that went beyond what was needed.

 

[Ken Abbott]

Managers of interns HATE it when their charges actively look for positions elsewhere.

 

[amraj]

Managers of interns HATE it when their charges actively look for positions elsewhere.

Thanks for your reply.

This is precisely what I wanted, the view of somebody with experience in the industry, although I was hoping for something more positive. I will just work as hard as I can in this department and look to impress them in hope for a decent reference in the future.

 

[vertigo]

each person's life, situation and in general, filtration, is unique and is measured by that person only, not by some fools on an internet forum. you are the only person who can answer your question. take everything written by anyone here with a pinch of (hurtful) salt.

do you think that the insiders here are smart? do they own private islands? are they rockstars? are they flying to outer space? do they have multiple beautiful girlfriends? no... insiders are struggling just as much as outsiders, just at a different level.

CS puts it very well:

Rather than arrogantly demanding of your manager to find you tasks you prefer, use the remaining time wisely and make yourself indispensable. No matter how little you respect the work you do and your manager, a lot of people, even rockstar quants, are going to value his/her recommendation that says you were a hard worker that went beyond what was needed.

how many employees does HSBC have? a lot. nobody cares about you. you are the guy coming in, the one who needs 'trust'. keep your ambitions to yourself, let them develop. be arrogant, but inside and only with yourself. on the outside, be as helpful as possible.

you want to work with math? well.... what do you consider math? math in textbooks is different to math at research level, to some degree, would you agree? if not, take a look at a textbook and some research papers and you will see the difference... okay, following from this, it is easy to see then that math in THEORY is different to math in PRACTICE. that excel based spreadsheet? yes, a child can do those calculations, but that is math in PRACTICE. is it pathetic? yes... is it essential to business? yes.

being good at those excel spreadsheets will earn you a reputation of 'being good at math'. (until somebody finds out you are a pretender.)

speaking to other interns is completely useless. interns don't know anything.

 

[Daniel Duffy]

3) ask if you can become a manager please, now.

 

[zlatancrew]

For me your experience will be relevant to show on your CV that you like banking but if you want to be a quant you have to do well at school in the Target areas for being a quant. maths, programming and so on.
I had a great Quant internship without any professional experience and before the internship surfing on the internet was the only thing I knew while being in front of a computer.
So get your ass off and do some more maths