Hong Kong IBD MBA recruiting
So I've been admitted to a M7 MBA program that has historically sent more graduates to tech/consulting rather than finance. I am interested in HK IBD associate recruiting. However, after meeting a handful of guys at the finance club as well as finance faculty, I got the impression that I would have to do a lot of my own recruiting outside of what the school can help with.
Could anyone shed some light on MBA HK IBD recruiting process?
- How do you apply? On-campus or online?
- How important is networking when recruiting for HK positions, and perhaps more importantly, how do you do it when you're in U.S.?
Thanks guys in advance.
if you're an MBA business schools">M7, the ibanks will all come to your campus. If it's consulting/tech I'm guessing that means you're at Stanford. The ibanks will show up. Your school will also likely have a "Days on the Job" trip during winter break to go to HK. That's how you get an internship in HK. Once you ARE interning in IBD in HK, then you'll be glad to know that in the summer, the ibanks all have info sessions for summer associates that are in town. In fact the banks kind of share the talent pool during the summer, in that they make sure to give their summer associates a chance to step off the desk and go to their competitors' info sessions and interview days. The key is to come in the winter break to HK for the DOJs. And if by chance your school doesn't have a DOJ, then come during winter break anyway, cold call HR, and they will add you to the DOJs of other peer schools. My school didn't have a DOJ, but I showed up anyway, and HR respected my hustle when I called in, and they let me tag on to other MBA DOJs.
Winter DOJ > summer internship > interviews in summer > FT offer in HK a year later
Thank you earthwalker7. That was incredibly informative. Will make sure to check those DOJs. SBs for such a great tip.
Happy to help. DOJ or not, get your ass to HK. Set up phone chats w/ alumni. I sent a cold email to an alumn that was head of HK for a BB, and he actually called me back. Asia can be pretty open and ready to do business, whereas US is somewhat more stuck-up. Work every angle until you get that internship and then full time offer. I presume also that you speak fluent Mandarin, passed your HSKs, and put those accomplishments on your CV, right?
What is a DOJ? Sorry kinda new
If you read the comment, you'll know it meant "Days on the Job".
Very few banks in HK recruit for summer associate roles these days, and it changes from year to year. Even then, it’s unlikely you will get a return offer because it’s usually less than 1/4 or 5 historically at many places. they also prefer candidates who have much more relate to experience. you best shot is to start in US and try transfer back with experience
perhaps so. I think #1 thing OP can do is get fluent in Mandarin. That means starting on the language ASAP, in an immersive sense. There will be no time during or after b-school to study much Mandarin and it will be too late anyway. However if he crushes it now by studying like his future job depended on it, working 80-100 hrs per week on language, maybe he can push his way into Asia with his Mandarin, Korean and Japanese language skills. I'm also not sure the stats for HK recruiting are quite as grim as you portray. Tough yes, due to recession. But not impossible. Agree tho OP should pursue US opportunities in parallel and try to transfer in to HK if he doesn't get the summer offer / FT offer. I think transfering in isn't quite as easy as it used to be, so it's not crazy to try to just start in HK.
1 out of 5? Wow. That's pretty darn low. Maybe I should look into US offices first. Thanks for the tip!
That’s what I’ve seen for many years, obvious depending on banks, some could be higher, but no where the return rate can be as high as you see in US. But MBA associate is really in an awkward position if you just start right out of b school.
The bb I worked at did not hire any summer associate through formal program for a few years. I believe it is the case for a few other bbs.
Networking doesnt work well in hk/china unless: - u have something to offer on the table (u have already worked at a decent ibd shop before mba/impressive cv such as mbb etc.) - it is a personal connection (friends referral) rather than alums or cold emails - u are networking with more westernized ppl (typically those with more than 10 years in western countries rather than those who just did their undergrad/mba)
Basically recruitment in hk is a longshot for non mainlander. Most teams cover 80%+ chinese clients and typically juniors are mostly mainlanders with occasionally 1 or 2 being hongkie. Some hr/resume screening associate just toss out resume for names that are not in mandarin pinyin
Do you think it's better to start one's career in New York or Hong Kong if he/she has the opportunity to choose?
Are u looking for hf or ibd?
Mobility varies across firms. In a few of the firms/teams, it is difficult to relocate as relationship between hk and ny mds are not that close. Sometimes u may just relocate to hk and switch to the worst team on floor that couldnt hire any competitive candidates
Skillsets and experiences are also very different. MFs generally are ok with it but quite many bankers actually dont buy into the US experience this much compared to back then.
Spend your analyst or even 1st associate years in NYC. Get your deal exp and technicals cold. Then ask for internal transfer to Hong Kong. No real diff in what you do on the job, except different sets of clients. US exp is generally regarded highly and very relevant in Hong Kong, but not the other way around.
Key issue is you need to build a strong case for why you want to relocate, and if the relocation is permanent in terms of your future career.
I am currently in a MBA business schools">M7 and got a summer job from HK. I would say you don't have to do much networking for HK recruiting process. I'd suggest you follow the US banking recruiting process(prepare for the interview questions, networking with bankers in the US to get a better understanding of IB and keep an eye on HK recruiting timeline as well. Usually APAC recruiting comes earlier.
Interested in HK summer internships as well Can I PM you with some questions?
This is more relevant comment over this thread. APAC banking recruiting also seeks experience with pre-MBA background and less networking. Last year, I only saw Goldman and BAML recruited for banking summer ASO in HK. Others (JPM, MS, CS, Barcap etc.) offer PWM, ER or strategy type of role.
Does anyone know the recruiting timeline this year for HK IBD summer associate positions for each bank?
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