WSO Elite Modeling Package

  • 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF
  • Elite instructors from top BB investment banks and private equity megafunds
  • Includes Company DB + Video Library Access (1 year)

Comments (11)

  • Analyst 1 in IB - Gen
Jun 25, 2021 - 4:30pm

Here is the truth:

Short answer: You can apply but you will be in disadvantage in IBD. S&T doesn't matter

Long answer: IBD will require you to have mandarin / korean. Note that there are significantly lower amount of spots for korean speakers vs. mandarin so if you speak korean it will be an uphill battle. If you speak either of two, you will get translation test for Citi I think. Your work will require you to translate as well, so take note of that.  Edit: They might recruit for other SEA/East Asian languages but just in general you will be disadvantaged compared to mandarin speakers.

S&T it doesn't matter whether you speak mandarin, korean, japanese, etc. Just speak good english and you are good to go.

Just my 2 cents from recruiting previous cycle.

Jun 25, 2021 - 4:35pm

Thank you so much - that was super helpful. Also, I heard that networking is not really needed for HK IBDs but your GPA/school is much more important. Is this true?

  • Analyst 1 in IB - Gen
Jun 25, 2021 - 4:42pm

Networking is not as paramount as NY but it helps to know an associate or a VP+. But it is not a strict requirement per se to get the job offer.

Schools preferably be a target school (Ivy league/Stern/etc) and tbh the more prestigious it is (HSW/Oxbridge) the better. For GPA, competitively I would say +3.7. Most of my peers from NYU who got the offer had +3.9 in general, but might be correlation not causation (High GPA = insane work ethic = very prepared)

Of course I know people who weren't target schools getting interviews, but during superday decision making it will be an uphill battle in general.

The information above is what I've found for IBD. I would assume S&T will be more lenient in terms of networking/school name/GPA.

  • Analyst 1 in IB - Gen
Jun 25, 2021 - 10:32pm

Some banks: clearly says mandarin required

Some other banks: doesn't say that but test your mandarin skills during interviews

1/7 junior IBD jobs in HK doesn't require mandarin (optimistically) 

Edit: different story if you speak another east asian language especially Korean, since lots of ibanks have a Korea team in HK that is larger than in Korea.

  • Incoming Analyst in S&T - Equities
Jun 26, 2021 - 11:31pm

If "another East Asian language" is Japanese, then you should try out Tokyo opportunities if you are not absolutely fixed on HK.

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
Jun 27, 2021 - 6:19am

If you don't speak Mandarin you will be most likely placed in SEA group. More and more deal flow plus focus in HK is on Mainland China - if SEA, I feel like most of the activity is moving to Singapore. So Mandarin is becoming more necessary for getting a banking job in HK.

Plus, you will be competing against local graduates who can speak English + Mandarin + Cantonese fluently, as well as "sea turtles" who studied at target schools abroad but speak English and Mandarin fluently. So it's an uphill battle.

Most Helpful
Jun 27, 2021 - 7:56am

Worked 5 years in HK as ana then asso in a European bank then a regional BB

European bank didn't care as they covered the whole of Asiapac from Indonesia to Australia

Regional BB however was another story. I was literally the only person in the team other than the MD who had recruited me who couldn't speak either Mandarin, Korean or another relevant language 

There were still plenty of deals I could be involved in but also several DD trips in Mainland China and Taiwan where I was utterly useless and was sitting in meetings all day understanding nothing

May help who you approach. On the other hand if you apply for say a French bank you'll be shocked as large majority of ppl are French, getting to 100% for management with the other Brit

HSBC is another story of course

Jun 27, 2021 - 8:24am

I was asking other about this on here and just 2 days ago I spoke to a hedge fund portfolio manager in Hong Kong. He told me that there are maybe 10-15% of roles in Hong Kong which can be done entirely through English, including what he did. The rest require knowledge of Mandarin because that's who the Hong Kong market serves, the mainland. Knowledge of Cantonese is not required. So for IBD, you're going to be in a very difficult position to get in without mandarin.

Jul 27, 2021 - 10:47am

Repellendus ratione rem consequatur dolorem. Voluptate veritatis quidem quia. Voluptate sed cumque incidunt. Similique nisi ipsa pariatur temporibus. Voluptas est sint magni itaque amet est.

Et natus ea dolor omnis esse. Quisquam incidunt officia nam sed quia velit. Est recusandae esse ea odio id aspernatur. Explicabo doloremque repellendus dolores qui porro reprehenderit nesciunt.

Voluptates architecto dolores consequatur a. Explicabo earum odit enim voluptas qui ut praesentium. Dolores sequi consequuntur vel nesciunt quasi fugit nemo. Debitis dolorum praesentium et maiores. Est sapiente mollitia quas vel. Ut nobis non et consectetur ipsa asperiores quisquam.

Esse vero et neque corporis. Maiores voluptates sit ratione laboriosam quia. Rerum eaque incidunt suscipit ipsa debitis ut. Ad qui hic delectus quis ipsa. Officiis laudantium sunt rerum ea facilis impedit quia.

Start Discussion

Popular Content See all

Investment Banking is Paradise
+276IBby Partner in PE - LBOs
Public banging
+182OFFby Intern in PE - LBOs
Oncycle is a fucking joke
+146PEby Analyst 2 in IB - Cov
MD’s Daughter/Son has student loans?
+114REby Analyst 1 in RE - Comm
How often do you get "matches" on apps?
+108OFFby Associate 1 in AM - Other
Dating smart girls
+92OFFby Analyst 2 in Consulting
Who manages your money?
+90INVby TechnoPanther

Total Avg Compensation

September 2021 Investment Banking

  • Director/MD (10) $853
  • Vice President (38) $367
  • Associates (218) $232
  • 2nd Year Analyst (131) $152
  • 3rd+ Year Analyst (30) $147
  • Intern/Summer Associate (102) $144
  • 1st Year Analyst (483) $135
  • Intern/Summer Analyst (375) $82