MBA Internship Experience: XIMB student Anubhav Srivastava on his 2 months at HSBC Chennai
XIMB student Anubhav Srivastava did his internship with renowned global banking company HSBC.
In the special series of MBA Internship Experience, Anubhav Srivastava, a Second Year student of Xavier Institute of Management, Bhubaneswar (XIMB) shares how it feels to work among400 employees of a top global banking company like HSBC. In this interview, he shares his meeting experiences with MDs, CEOs and CFOs of potential clients to understand their needs & the industry and to explore opportunities for HSBC.
He does not forget to tell us that the invaluable experiences were not the only take away from his summer internship, he also took home a handsome monthly stipend of Rs 45000 for the period he worked with the company. Anubhav also speaks about the challenges faced by him owing to the cultural and language barrier in the city of Chennai.
Prior to joining XIMB, Anubhav did Computer Engineering in Vellore Institute of Technology (VIT) has worked for a year as an SAP Consultant with Deloitte Consulting in Hyderabad. His interests include international relations, quizzing and classical music.
Interview: Anubhav Srivastava, XIM Bhubaneswar
Careers360: Which organization did you serve during your Summer Internship? Tell us something about the company.
Anubhav Srivastava: I did my Summer Internship at HSBC’s Commercial Banking division in Chennai. There were around 400 employees in Chennai spread across two locations. Globally, HSBC operates out of 75 countries with a headcount of over 2,54,000.
Careers360: What was your project on which you worked for the past 2 months? How did you define the timelines for executing different stages of the project?
Anubhav Srivastava: My project involved finding sector-wise business lending opportunities for HSBC in the SME space in Chennai. To accomplish this, I first developed an in-depth understanding of the bank’s policies and lending proposition. I interacted with my senior colleagues and tried to understand the kind of work each of them did. I devoted roughly a week for this. Over the next 3-4 weeks, I did extensive secondary research on the plastics, chemical, manufacturing (mainly auto-ancillary), garments and textiles industries in Chennai and tried to develop an understanding of the business models of major players and the operating cash cycles. I understood the macroeconomic trends of the industry and handpicked a few clients for an in-depth study. I learnt to make working capital assessments and to map working capital requirements of clients to HSBC’s products. The last 3 weeks were completely devoted to meeting MDs, CEOs and CFOs of potential clients to understand their needs & the industry and to explore opportunities for HSBC. I also met senior executives from several trade associations and manufacturing clusters and fixed up joint events to help educate their members on the intricacies involved in complex trade transactions.
In my quest to discover sector-wise business lending opportunities for HSBC in Chennai, I prepared a sector-wise report on five industrial sectors – plastics, chemicals, manufacturing, garments and textiles detailing the size, segments, export market, risks, working capital requirements and top SMEs for each sector. Based on industrial reports from credit rating agencies such as ICRA, CRISIL and D&B, I was able to communicate with senior executives from around 50 companies who helped me in collecting the data. I identified gaps in requirements where HSBC could step up and offer superior services, mostly in the international trade arena. I learnt to assess the operating cash flow cycle and make working capital assessments and applied the same on a couple of live cases that were being processed. In addition, I also made a database of leading SMEs based on my primary and secondary research, both online and offline. I also struck joint educational events with industrial estates, manufacturing clusters and industrial confederations for their members.
Careers360: What was your plan to execute the project? What was the stipend amount offered to you?
Anubhav Srivastava: I started off by networking extensively with my colleagues. Most invaluable and practical knowledge about an organization is never found in manuals, but in people. All my seniors were extremely helpful in teaching me the basics about the bank and its offerings. I researched extensively on industrial reports published by ICRA, CRISIL, D&B, McKinsey and also used the services offered by the web portal of Ministry of Corporate Affairs, Government of India. I travelled extensively within Chennai to meet potential clients and trade associations. I also spoke over telephone to a vast number of people in different businesses. I was paid a stipend of Rs. 45,000/- per month.
Careers360: What kind of challenges did you face during your internship?
Anubhav Srivastava:The biggest challenge I faced was not having a cultural and lingual understanding of conducting business in Chennai. Although I had done my engineering previously in Tamil Nadu and did know basic Tamil, language was sometimes a barrier in establishing the kind of warmth needed in a business transaction with a potential client. Also, the theoretical knowledge of working capital financing, which I had learnt in my curriculum and the actual manner in which it is done, differed considerably. The actual world of banking was lot more complicated and there were many factors to be assessed, including those that required making subjective assessments.
Careers360: What were your key and overall learning during and after completing your internship?
Anubhav Srivastava: HSBC is one of the world’s largest banks, whichever way you measure and its expertise in executing complex trade transactions and global presence and potential is unmatched. Therefore, I had access to a vast treasure trove of knowledge on complex lending requirements and payment transactions. I learnt exactly how to assess the client’s needs and provide tailor made fund based/non-fund based solutions to working capital requirements. I learnt all about letters of credits, bank guarantees and other non-fund based instruments. I learnt the types of ways in which payments are made for international transactions and worked on a couple of live cases. But most importantly, I learnt the basic soft skills – speaking to clients, understanding and approaching the problem from their shoes and tiding over the cultural and lingual barriers for the common goal – business.
Careers360: How cooperative was your corporate mentor regarding the execution of the project at your summer internship?
Anubhav Srivastava: I was extremely lucky to have the best possible mentorship and guidance at each stage from my mentor. He helped me settle down on the first day and exposed me to only as much knowledge as was necessary at each stage. The complexity of products and mechanisms at a commercial bank can be overwhelming to someone who has not worked in banking before but I was glad to be gradually introduced to all concepts with live examples. My mentor guided me to online repositories, existing clients and colleagues who helped me. My mentor also reviewed my work on a weekly basis and pushed me harder to collect more information about each industrial sector and motivated me to go alone and speak to senior executives in the industry and at trade associations. I gained immense confidence and self-belief under his guidance.
Careers360: How were you connected with your academic mentor at your B-School during your internship?
Anubhav Srivastava: I was in constant touch with my mentors at XIMB through e-mail and regularly sought guidance regarding how to make an impressive presentation linking it to concepts of not just finance but also data analysis and statistics.
Careers360: How was your rapport with other employees during your internship schedule? If given an opportunity, would you like to come back to the organization for job?
Anubhav Srivastava: I had an extremely enjoyable two month stay at HSBC in Chennai. All my senior colleagues treated me well and took time out from their extremely busy schedules to guide me. We often went out for lunch. The one hour spent playing table tennis at office in the evening used to be the most enjoyable. Given a chance, I would love to return.
Careers360: What are the memories during your internship period which you would like to cherish?
Anubhav Srivastava: Being a part of IlluminatiX - The Media & PR Cell of XIMB, I conducted an informal interaction with the juniors who were about the join in the college in a months’ time. It was truly a refreshing and unique experience to be surrounded by an enthusiastic bunch – thousands of kilometers away from base camp, addressing the queries and witnessing their excitement. We had a gala time gobbling chaat and strolling around on Besant Nagar beach. Truly made me miss college and I vowed to enjoy as much I could in the last year of my MBA.
Stay tuned to bschool.careers360.com for more MBA Internship Experiences.
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Questions related to XIMB
which college should i prefer between XIMB mba bm and IFIM pgdm
I'll recommend you to go for XIMB as the institute is age old and enjoys a good reputation.The college offers a lot of exposure to its students with 100% placement. The Average salary package offered to the management students are- 12.44 LPA. The highest placement went upto 26 Lakhs last year.
which college should i prefer between IFIM bangalore and XIMB MBA BM
The MBA in Business Management course is available in Xavier's Institute of Management Bhubaneswar ( XIMB ), whereas the IFIM Bangalore provides the PGDM degree in various courses. Though the PGDM degree is equivalent to MBA, but there is no degree available for Business Management in IFIM, Bangalore.
Discussing about XIMB, the XIMB is a private institute providing MBA in Business Management, Executive MBA in Business Analytics and Business Management and Ph.D course in Management.
Discussing specifically about the MBA in Business Management course, it is a full time course of 2 years duration. The total course fees is INR 19 Lakhs and the admissions are provided on the basis of minimum eligibility criteria as provided by the institute and the scores of CAT, XAT, GMAT and X - GMT scores. As per the reviews by the experts and students, the college has good faculty and facilities. The college focuses upon the all round development of the students. Also the faculty members are well experienced and knowledgeable.
The placement are also fair in this institute. The average package offered to the candidates is around INR 12.7 Lakhs per annum. So, overall, the institute is worth for pursuing the MBA in Business Management.
which college is best among IMI BBSR and XIM Bhubaneswar
IMI and XIM bahut comes under one of the top 40 business schools.
Comparison between both is quite difficult they both stands on the same level but we still have to compare then we can compare it on the basis of placement ,ranking and fee structure there is a slight difference in rating, the rating of XIM is good that's why there is a very good package placement and that's why the fee structure is high in this.
Best of luck.
I have got 93.79 in CAT, and will get a call from XIMB. My 10 and 12 is 90+ and Graduation(2017) is 82, also I have 28 months experience in HR in Chinese MNC, I am unsure about the placements in XIMB (as I expoect minimum 20 LPA), should I drop this year ? Next year it will be 40 months exp(Gen Ctg)
But with your scores you can also try XISS Ranchi as the academics and the placement scenario is absolutely same for HR but the fees for the course is 10 lakhs. The average compensation package offered there is nearly 9-10 lakhs with the highest package being 26 lakhs offered by Flipkart.
The other good colleges for HR you can check out through various exams like CAT/XAT/SNAP/TISSNET/NMAT are
- IIM Calcutta, Bangalore, Ahmedabad, Lucknow, Indore, Kozhikode and Ranchi
- IMI Delhi
- NMIMS Mumbai
- XLRI Jamshedpur
- LIBA Chennai and others
What is the average package of XIMB MBA RM