Pros
You can move about within HSBC after 1.5 years of working at the same position. Usually it is easy to transfer from one branch to another not only within a country but also to a foreign land. The International Management program gives a good exposure to different markets, work culture, and fits well with the "global bank" motto of HSBC.
Cons
Pay is unfair. At some position you will have to do a 2nd job. Because they are spread everywhere, they are not able to keep a good eye on all the sites and ensure their smooth operations. Because they do not recognize professional designation and hire mainly based on experience, the professionalism of the employees is nil. The management is too focused on making profits that they charge too much to customers for the unfriendly customer service. They also cut corners and deprive employees of much needed financial motivation. While the International Management (IM) program gives good exposure and its unique, the managers are not able to fit in well into new culture. They tend to misuse the power of their position and the fact that they just have to survive and make profits for the time they are there, the IM is not able to built a solid relation or respect the culture and background of local employees. You have to continuously watch your back and wad off the blame games played by senior managers.