S&T in Hong Kong vs. New York
I couldn't find anything in a search, so I was hoping some of you (especially those who have worked in both cities) can talk about what the differences are in terms of the work, the culture, the lifestyle, exit ops, etc.
I have a final round with a BB for a fixed income SA position. I know that China's fixed income markets are quite underdeveloped...how would this affect me? Finally, I know most superdays are held in New York, but they invited me to visit their HK office. How common is this/what does this mean?
Thanks!
I have worked in both cities and Trust Me, all my rich American friends have iPhones
wtf haha
adapt or die, care to say more?
hong kong is pretty much for people who can't make the cut for New York. I heard everything is inferior (lifestyle, people, work, etc.)
I never knew Mark McGoldrick "couldn't make the cut for New York" - he must be some under-achieving tosser since he spent the bulk of his time out of London and Hong Kong when he was at Goldman.
Prime example of stupidity at its finest...
Obviously the original poster was reffering to where you start out...prime example of stupidity is not reading the topic in question...in general best place to do equities is in NY and fixed income in London..HK is definitely inferior in the sense that its a lot less competitive to get a position there...obviously if you are a baller in London or New York and you want to go to HK after you've reached the associate level thats a different story.
But if you're starting out in HK, its gonna be a lot harder to get a position in New York or London.
Ultimatily, to each his own..i wouldn't go to HK to start
That's completely bogus. HK's an incredible city, the lifestyle is amazing, travel opps are plentiful-- 2 or 3 hour flights to numerous tropical beaches that put the Caribbean to shame. There are NO TAXES. Oh, and its 75* today in Hong Kong.
Lifestyle is much better in Hong Kong, you can't really argue with that. Food is better (on all spectrums, you can make your canteen lunch run michelin star quality). Best weekend activities any city could offer (Can you beat Hong Kong's mountainous trails and beaches?); junks (HK term for yachts people take on weekends to beautiful beaches on deserted islands), amazing nightlife (NYC is too scattered, less vibey by comparison) and getaways. To live an amazing lifestyle, with live in help etc, is not expensive either even when you are analyst level.
Also the city is prettier, NYC has got its charm around the south end of Central Park, but HK is jaw droopingly gorgeous - doesn't compare.
That being said, the market is a lot smaller in HK than it is in NYC (that will probably change long-term once markets in china start consolidating with HK) and NYC still looks better on a resume. However, at top B-schools, perception of HK is rising rapidly because of the lifestyle/china factors. For finance, HK is becoming comparable (but with NYC salaries, not London). But if this were consulting or something else, other places have a clear advantage.
I'm not sure how it will affect S&T (not in it), fixed income is weaker. In terms of getting the place,, I would say aggressive people that make it up from state schools in the US or athletes, have zero chance in HK. Instead, it's 90% from targets, 10% relationship (but depends on the firm).
what are the opportunities like for europeans/americans? is it hard to break in?
Competitiveness of Asia S&T vs NYC (Originally Posted: 12/21/2010)
Just wondering what the standard for Asia is when compared to NYC. For example, if one receives Asia interviews is it a good sign that you will get NYC interviews also, or is NYC more selective.
I'm curious as well
Its choice, (what type of models you want to date chinese, american, etc. haha jk)
Just go where you feel most comfortable man, if you are comfy ( family location, language, environment) at HK then go there be a boss and drive a lambo, if you if feel happy in NYC then go there and excel. Just my opinion.
what makes you think that its easier in hong kong... im sure there are a lot of smart kids applying... or do asian students from top unis tend to stay in the countries they have studied in?
Its common fact that those who can't get a position in New York, and are asian apply to HK positions and have better success. I am not debating HKs importance in the world market place. But entry level it is not the creme-de-la-creme.
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