Oxford PPE => HK/ NYC internships => HK/ NYC full time position
How easy would it be to do this? I understand HK recruits solely from Oxbridge/ HYPS, but I'm assuming, in general, they're more interested in HK nationals studying at the 6 schools. I think Oxford is viewed as roughly equal to HYPS in NYC (please correct me if I'm wrong).
I'm a British citizen and also have another passport from a different European country. I understand British citizens have a special visa agreement with Hong Kong; in the US I think I'd have to go through the usual H1-B process.
I'd be looking at places like Goldman, Evercore, Blackstone, KKR, and Carlyle, ideally.
I know a few people working at these places (namely in NY)- would contacting them help when applying?
Thanks for your help.
This really depends on what you're pursuing. From the firms that you have mentioned- I'll assume that you're pursuing either PE or IBD.
For PE/IBD in HK, you need to be able to have at least business proficiency in Mandarin. These firms generally either take HK or Mainland Chinese citizens due to their native language or at times also Koreans or Japanese nationals.
Visa isn't a big issue in Hong Kong. Taking jobs that pay over HK$ 20,000 monthly are almost certain to be granted a working visa.
You should def try to contact people working in NY- given that they will at least know someone in the HK office, and can connect you with them. However, they won't directly have influence over hiring/interview decisions.
Is there any reason why you don't want to start in London and then transfer over to NY/HK? That would be the easiest path in your situation.
CentralBanker above said it quite well and I can add a bit of 1st hand experience. A few years ago, I was looking for a transfer to a Big4 advisory team in HK. Out of about 20 people in the team, they told me they couldn't afford to have more than 2 non-Mandarin speakers (and they already had 2). And this wasn't a junior position; at those levels everyone spoke Mandarin.
If you really want to start working after uni in another global financial centre (ie. not London), New York is probably the best option, even with the visa restrictions.
HK doesn't recruit "solely" from Oxbridge/HYPS.. I know more than a handful of kids from last year's SA class of 2018 that went HK and I go to a non-ivy target.. just an FYI
Also, HYP > Oxford in NYC
EMEA and APAC are very doable from a top UK school but due to the on campus nature of recruiting in the US.. it's not really an option there. H1-B lottery pretty much wipes out any possibility of landing an FT job there as a non-citizen too.
recruiting standard in hk is def lower than in the US, usually considered a backup choice. not that many have degrees from HYP. if you get on linkedin you can find a ton of ppl from other semi-target / non-target schools in the US working in BBs in hk
Thanks all!
The reason why I'm interested in HK/ NYC is that I've spent most of my childhood in London and I'm tired of it. My dad had a period where he spent a lot of time in HK and I was fortunate enough to spend some of my holidays there and I much prefer it to London. NYC's also great. I've also heard that NYC/HK salaries > London salaries and, of course, UK taxes are much higher.
Okay, so I understand the constraints now:
HK - Mandarin is essential NYC - a near impossible to get Visa is essential
I've done a bit of Mandarin but I'm certainly not fluent. I could probably learn enough in the next two years to become relatively proficient; although I'm not sure the level I'll be at when it comes to recruiting will be sufficient....
What about internships specifically? Can I apply to those in HK/ NY as well as in London or do Mandarin/ H1-B constraints pertain to those too? And would I be more likely accepted (especially with the visa/ Mandarin issue) to UK based banks such as HSBC in HK/NY?
And just regarding the HK hiring process - apologies if I'm wrong. I heard from someone that HK offices love Hong Kong nationals who studied at 'traditional' schools like Oxbridge/ HYP (as opposed to top, although less 'traditional', schools like HKUST/ LSE).
Also, if I were to find a study-abroad opportunity, could I also partake in US on-campus recruiting? Or is that reserved only for full-time students?
And finally, what is the transfer process like if I were to work in London for a few years and then move to HK/ NY? I was told by someone that it's better to apply directly to jobs in the country where you want to work because transfers are expensive for the bank and thus unlikely to happen.
Can you confirm that you're pursuing PE/IBD? If that's the case, as I mentioned before, it's very difficult if you don't have business proficiency in Mandarin.
It's the same for internships in PE/IBD- Mandarin constraints also apply. And as I mentioned before, visa is not a problem in Hong Kong- you won't be discriminated simply because you're a local/international.
What you said about HK hiring process is somewhat true. According to my approximations, an intern class for IBD will consist of 40-50% students from the US/UK. 0-10% students from local universities (I know for a fact that banks always have a quota for local universities e.g. HKUST, HKU, CUHK), and probably 10-20% students from top Chinese universities. The rest is very variable- may include Koreans, Japanese students too. Note that all these students are expected to be able to speak Mandarin/Korean/Japanese.
In my opinion, BBs in HK don't really see your nationality since visa is such a trivial issue in HK. HK nationals that study at traditional schools simply have the natural advantage because a) their parents probably will know someone in the finance industry- giving them the connection that they need b) Oxbridge/HYP is after all better than HKUST/LSE.
Thank you - yes ideally a boutique IB/PE firm. I'd enjoy equity research at a smaller firm too (I think.
I guess I'll see how much Mandarin I can learn and see if it's enough!
Is the Mandarin needed only for communicating with clients? If so, would a role in equity research, or indeed any position where less communication with clients is required, be easier to get if I don't become fully proficient in Mandarin?
Thanks again for your insights.
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