Hi! Prospective IB monkey here.
I just started my MBA studies at a M7 program, and wanted to ask for advice on how to break into HK IBD post-MBA. I'm a Korean native (don't speak or write any Chinese) and have 2 years of work experience at Big 4 TAS + 3 years in investment management. I got interested in HK IB after finding out that most large cap South Korea deals are handled out of HK offices.
Over the last couple weeks, I've managed to speak with a lot of alumni who worked in NYC and SF offices. But I haven't had much luck in finding someone who works in HK. I asked for referrals, but so far got nothing tangible and still waiting on those leads. I read some earlier posts here on WSO about this topic, and saw some people suggesting to join a "Day on the Job" trip during winter break. But from what I learned, summer associate recruiting for HK begins and wraps up in October/November. Could anyone share their experiences recruiting for HK IBD associate positions? Thanks.
If you are targeting the international banks in Hong Kong, you HAVE TO get into a summer associate position and then convert to full-time.
Frankly it's quite challenging these days if you don't speak Chinese - either Mandarin or Cantonese, unless you go into a product group. I have plenty of Korean friends who work in DCM, ECM and M&A. HR would place preference to candidates who speak the language, just given the fact that majority of deal flow in East Asia these days coming from greater China.
In terms of what you said re large cap Korean deal being handled out of Hong Kong. It's true because Korea is mostly country coverage. Most if not all product and industry teams are based in Hong Kong. You could have Chinese, Indians, Americans work on Korean transactions where everything is done in English (with the help from Korean country team on translation), but not the other way around - i.e. they won't likely place you in Hong Kong and not work on China deals because you don't speak the language.
That said, there are certainly opportunities here and there. Just 1) position yourself more for the product team, and 2) express flexibility to relocate the Korea, but you know Hong Kong is where all the learning is at the start of the career.
Thanks. I'm definitely open to relocating, but it seems A2A is the norm in Korea with associate-level recruiting almost non-existent, which is understandable given their small office sizes. Are you by any chance familiar with the timeline for summer associate recruiting in HK?
I'm way past that stage. But it should start anytime. Just get yourself prepared (I'm sure you will given the training and polishing you are receiving from the MBA). Suggest you check with your school career management to get the info on timeline.
Hi, I am an undergrad who just got an offer from one of the HK BBs, I am wondering which firm do you think is the best in Hong Kong as I am thinking about leveraging my offer to interview with others. Thank you very much!
Hello, saw you mentioned you have friends working in ECM, just wonder is the working hours in ECM same as what usually described here in WSO around 12-14 hours a day or is it different due to the high volume of IPO in Hong Kong? Thank you.
Most firms in HK have not opened summer associate position for years.
Also, CANTONESE is not necessary but MANDARIN is. Typically there will be 1 Korean analyst joining once 1-2 years but summer associate is probably much less likely.
More and more large deals are done in Korea now with minimal outsourcing to HK these days at many BBs.
Thanks. This is really helpful. As I learn more about the HK banking scene, I'm shifting more towards recruiting in the U.S.
Can confirm that above is extremely accurate. Limited summer MBA associates positions with low conversion rates - just not economical or the norm in this part of the world
Just curious - how's the comp in HK as post-MBA associate? $150k just like the U.S.?
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