Anyone Heard of CRCC Asia?

This is their website:

https://www.crccasia.com/internship/internship-se…

And I'm wondering if they are legit/if anyone on this forum has heard about them or their placements in Investment Banking and whatnot. I saw this program on my school's job site and I want to know how legit they are before I potentially even waste time applying to them. The reason I'm skeptical is that this site is charging a lot of money for the internship and they haven't posted any info about partner companies, where interns have been placed afterward, what percent got offers afterward, etc. So if anyone knows anything, let me know.

Thanks

Is CRCC Asia Legit?

CRCC Asia markets itself as offering one, two and three-month internships across various sectors in several international locations including Beijing, Shanghai, Shenzen, Tokyo, Osaka, Ho Chi Minh City, Seoul and Manchester. Students have to pay a fee which ranges from $1,195 (the “Value” option of one month in Ho Chi Minh City) to $7,795 (an “Exclusive” two month language program in China), not including add ons such as language classes or travel.

The comments section below offers colorful debate as always (including rebuttals from CRCC Asia themselves), but students who have participated shared their experiences:

  • The highlight was living abroad, usually close to night life and with lots of other students
  • Job placement was mixed, some people loved their jobs while others hated them
  • It is expensive (why pay for an internship), but it’s something to do for the summer if you didn’t get any other internships
  • You meet really interesting people, it’s a great opportunity to network

Recommended Reading

 

Sounds like a bad idea and if you find out it is bs then you need to rip someone a new asshole at your schools placement office

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

Hi brown_trader, Aero, an d happypantsmcgee,

I am writing on behalf of CRCC Asia, and I thought it would be helpful to answer the above questions. I can be contacted via email ([email protected]) if anyone would like to ask me any questions directly and anyone is welcome to visit the office closest to you, or call our UK, US and China offices during working hours as per the numbers on our website. We have also been featured in the following media:

BBC http://www.bbc.co.uk/news/business-11091042

Sky News http://www.youtube.com/crccasia#p/a/u/0/7-Kj_BHjDUU

The Times http://business.timesonline.co.uk/tol/business/career_and_jobs/recruite…

The Guardian http://www.guardian.co.uk/money/2008/jun/07/graduates.workandcareers3

We have been running the Beijing Internship Program since 2006 and have developed solid relationships with our partner companies in China. Our program has grown in popularity and by the end of the year we expect to have placed 500 interns. Our interns are mostly from the UK, EU, and US and are all highly motivated with solid academic records and a keen interest in China.

Alongside the internship, participants are given China-specific cultural training, introductory Mandarin classes, weekly social events including a networking event with a top Chinese university, a karaoke night and a careers advice dinner. CRCC Asia also has an effective CSR department and interns are now given the chance to volunteer with a children's foundation in the suburbs of Beijing.

If anybody would like to get in touch with any of our alumni, please let us know and we will put you in contact with them. We are happy to answer any questions about our sectors and our companies. For finance, we work with leading Chinese and international firms in investment banking, venture capital, private equity and other financial areas and we can go into more detail with you if you get in contact over the phone or in person. We can also be reached on twitter @crccasia or on Facebook.

If you have any further questions about CRCC Asia's Internship Program, please do not hesitate to contact me, and I would be delighted to hear from you. Kind regards, Veronica

 

Bump. Checking this out right now. Has anyone within the last year gone on this internship? I'm wondering just what specific placements have there been in the past for finance (besides saying just the general areas). Seems quite hefty to go on an internship, so more info is always appreciated.

 

You should be highly skeptical.

I have lived in Beijing for a couple of years.

CRCC asia is one of the companies which provides internships. In general this is smart considering ( housing and such is all provided).

Crcc asia on the other hand seems to not care about the internship ( alot and alot of students made clear they are not much more then a typist). They are rather smart because they invite everbody at the same time it creates a group feeling and then the internship becomes less important and its more of a vacation. If you want a serious internship look for one cheaper considering problaby the profit they make is between 1000-1500 dollars for each applicant. Its not a scam but its defintely a way to overcharge you and cognitive distonation is removed because they put you together as a group.

 

In response to Chinaexpat's comments, I would like to point out that CRCC Asia (and Crcc Asia, as they are one and the same) have been successfully sending students and recent graduates from all over the world to China for the past 5 years.

We pride ourselves on the quality of our internships and as proof, we would like to direct you to the testimonials page of our website, http://www.crccasia.com/internships/life-beijing-intern/testimonials. On this page, you will read about the experiences of dozens of previous participants who have greatly enhanced their resumes by gaining international work experience by interning in China through CRCC Asia.

Finally, our recent coverage in the Wall Street Journal (http://on.wsj.com/iLodOY) should prove the quality of our organization. Several of our interns have successfully gone on to work for top international firms, or even have been hired by the company we initially placed them in. This alone speaks volumes about the type of internships that our participants are engaging in.

 

What i read from the testimonial page is indeed what i hear from the people i meet in beijing.

  1. The country is awesome
  2. I met alot of new friends ( Groups arrive at the same time).

And even a couple got a job offer if you keep in mind you have of the so called 1000s of placements then of that only 25 have given a testimonial. thats a total of 2.5% of those 25 how many got a job offer ( 1-3?) so that would conclude that less then 1% gets a job offer later.

I think other agencys might have quite a higher placement rate. Although you cannot really expect that most companies will invest to much time in a person who will stay there only a month. Thats why i do not find it suprising i was able to find most of the interns in the bars i own.

Some might get lucky and it would be pretty bad if they did not learn anything at all.

Im just saying the marketing of CRCC asia is smart ( only the best can join ) while most important is that you speak english that is about it.

 

Hi Chinaexpat,

Since you are based out of Beijing, we welcome you to visit our Beijing office. We would be happy to speak with you and invite you to some of our alumni events so as to demonstrate the quality of our program in person.

-The CRCC Asia Team

 

Hi, Just thought I might give some insight into this program, because I was one of the interns that participated in this program within the last 10 months. so anyways, all the information I am providing now is based on what I have experience 10 months ago, whether its up to date or not, I can not assure, but I think its pretty accurate.

  1. it is not a scam. CRCC basically have 2 operations in china, one is Beijing and the other one in Shanghai. I went to the Shanghai intern cos apparently Beijing was Full when I applied.
  2. Honestly, out of roughly 60 or 70 interns there that months, I can say at least more than 50% of us were not happy with our work placement. I for one was definitely not happy with the placement, reason been, it was not my choice of preference, they seem to just slot you into which ever company will take you. Now, I have friends who were there for 2 months that were so fed up their placement, she actually went out and find another placement herself while she was in shanghai and got paid for it while she was there. Now, to be fair, there were other interns that were happy with their placement, but I think it ultimately all comes down to luck with this CRCC organisation.
  3. Anyways, point 1 and 2 is kind of what a lot of people probably want to know, and I would say that is my own honest opinion. But if we put the Internship placement aside, the whole experience was one of the best experience I had by far. And this is why? First of all, The accommodation was great, its close to all the major area, whether its CBD or the clubbing night lifes, 20 or 30 RMB taxi ride will get you there, not to mention the fact that the underground rail is just 2 mins walk. The place is clean and has someone to come and clean your room every week!
  4. apart from the accommodation, the biggest thing that I have gain from this internship is the people you and the friends you make, there were basically people from every continent, except Antarctica. because the fact that you all live in the same hotel for a month or 2 (depends on you) really creates a close group of friend. which also results in party every night.
  5. seriously, you will get Shanghai withdrawals once you leave that place, there are so many things to miss from such great city.
  6. So, all in all, to answer some people's question, instead of taking this as full on internship where you try to learn something from it, you should take it more as a chance to network, meet new people and have fun. Of course, that is if you are willing to fork out that substantial amount of money. Also, some people will ask me if I would do it again? I say yes because of the friends I have made over there, not the quality of the internship.

Also, you can PM me if you have anything that you will like to know.

 

There is a reason they make you pay in full before they disclose your internship placement. As has been stated, they are a legit organisation in terms of they will give you a placement, however do not go there with high hopes of a good placement. So its not a scam, but its most certainly dodgy and they attempt to pull the wool over your eyes. Whist there are a few success stories, as needtoexcel stated, more often than not people are bitterly disappointed with their placements which is terrible given the amount of money paid.

The service they offer is inferior and this is the reason CRCC feels as though they have to come on forums to defend themselves.

Needtoexcel:
Hi, Just thought I might give some insight into this program, because I was one of the interns that participated in this program within the last 10 months. so anyways, all the information I am providing now is based on what I have experience 10 months ago, whether its up to date or not, I can not assure, but I think its pretty accurate.
  1. it is not a scam. CRCC basically have 2 operations in china, one is Beijing and the other one in Shanghai. I went to the Shanghai intern cos apparently Beijing was Full when I applied.
  2. Honestly, out of roughly 60 or 70 interns there that months, I can say at least more than 50% of us were not happy with our work placement. I for one was definitely not happy with the placement, reason been, it was not my choice of preference, they seem to just slot you into which ever company will take you. Now, I have friends who were there for 2 months that were so fed up their placement, she actually went out and find another placement herself while she was in shanghai and got paid for it while she was there. Now, to be fair, there were other interns that were happy with their placement, but I think it ultimately all comes down to luck with this CRCC organisation.
  3. Anyways, point 1 and 2 is kind of what a lot of people probably want to know, and I would say that is my own honest opinion. But if we put the Internship placement aside, the whole experience was one of the best experience I had by far. And this is why? First of all, The accommodation was great, its close to all the major area, whether its CBD or the clubbing night lifes, 20 or 30 RMB taxi ride will get you there, not to mention the fact that the underground rail is just 2 mins walk. The place is clean and has someone to come and clean your room every week!
  4. apart from the accommodation, the biggest thing that I have gain from this internship is the people you and the friends you make, there were basically people from every continent, except Antarctica. because the fact that you all live in the same hotel for a month or 2 (depends on you) really creates a close group of friend. which also results in party every night.
  5. seriously, you will get Shanghai withdrawals once you leave that place, there are so many things to miss from such great city.
  6. So, all in all, to answer some people's question, instead of taking this as full on internship where you try to learn something from it, you should take it more as a chance to network, meet new people and have fun. Of course, that is if you are willing to fork out that substantial amount of money. Also, some people will ask me if I would do it again? I say yes because of the friends I have made over there, not the quality of the internship.

Also, you can PM me if you have anything that you will like to know.

 
Best Response

Just to build on the comment from Needtoexcel I also participated in the program in Shanghai. I would agree with most of what he/she said, it is most definitely not a scam, the organization is very professional and extremely helpful with any problems that may arrive. The staff are great people and in my opinion a strength of the organization.

While I would agree there is a certain amount of luck involved with your placement, I for one really liked mine, I worked a trade organization and while I didn't receive an employment offer as I am still doing my undergrad I have remained in contact with my boss to this day. In my opinion what plays a bigger role than luck is attitude. For example when I was there I knew two people at the same company, one loved it the other not so much, and the only difference was their attitudes and willingness to push the engagement. Obviously with the short term nature of the program companies will not immediately give an intern a lot of responsibility unless they actively seek it. It is only natural that they treat you as more of a guest than an employee unless you show a willingness to want to do work. So I truly believe the experience is what you make it.

I will also echo, that the main selling feature is the experience of living in Shanghai/Beijing with other young professionals from around the world. It was an amazing experience that I would highly recommend.

 

Hi to everyone that's posted.

I don't usually post on forums but after reading this I thought the record needs setting straight a little. Basically I am an alumni of the CRCC Asia internship program and I just want to say I had an amazing time. Doing the internship in Beijing last summer (2011) was such a useful and life changing experience that when I came back to the UK, I took up mandarin and am going to start an MA in Chinese and Business this Sept. I can't wait to go back.

For my internship I worked for Chinese Marketing company HRH Communications - I deliberately wanted to be in a Chinese company and not a western company to get a proper experience in Chinese business. It was great and because the company specialises in conference and exhibition I got a real insight into that side of the industry and really hope to get into it in the future. I enjoyed my internship so much I extended to the two month program having originally set out to do just one month. Had I not had to come back to complete my degree I would have without a doubt stayed for the foreseeable future - my intern company said if I wanted work in the future all I had to do was get in touch.

I know people are wary because of the fees - but, having looked at rent prices for going back out there, accommodation is probably the most expensive thing about Beijing and the standard of CRCC accommodation is incredible! I also think what is included in the price is the support/supervision and reassurance that CRCC bring. Not forgetting all the other things that are included (social/networking events, mandarin classes etc). As a 20 year old girl going to live in China on her own having NO experience whatsoever I think that is the most fundamental part of their service.

Go with an open mind, get as much out of the experience as you possibly can and have fun!

 

Hic voluptatem voluptates quidem possimus et laudantium aut tempore. Quia dignissimos deserunt ut nesciunt minus excepturi. Incidunt qui et ea inventore dolor. Vel soluta eius et velit quia consequatur quis.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
DrApeman's picture
DrApeman
98.9
8
CompBanker's picture
CompBanker
98.9
9
kanon's picture
kanon
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”