報讀國際學校 先劏一頸血

HKTHK

回復 21Ckid 的帖子

At US bulge bracket firms, US returnees are always preferred over local U grads.  In the old days, local U grads are hired as research assistants and not into the proper analyst programs.  Only real way for local U grads to enter ibank frontline is to go to a brand name MBA program first.  

Agree with your conclusion that it will be very difficult for HKers to enter banking today.  But HKers are not extinct.  Still know plenty of people on the corp fin and sales/trading side though most are MDs already.

HKTHK

回復 FattyDaddy 的帖子

I would agree that HKers should forget about the corp fin side.  If you really want to get in on your own merit (as in not rely on a billionaire father), a good resume from an Ivy League may still have a small chance.

Fish777

21Ckid 發表於 13-8-24 17:39
I will again try to clarify a few facts.

HK locals are almost "extinct" now in ibank (in particula ...

I am not interested in the ibank job.If say, I just target in local medical school, will IS compromise my chance?

clifflam

shadeslayer 發表於 13-8-22 19:21
如果 300萬包入，我反而有錢都唔想入。

Me Too!!!

honeybunny7

It is interesting that from the subject of this thread, we've eventually diverged into the topic of "how do iBanks pick new hires?"

My hubby and I have been involved with hiring analysts / associates within the past 3 years at the top US ibank and the top European ibank, and here's what we've seen:
Top European iBank case:
- MBAs not much priority (in final decision and salary, and usually during 1st round MBAs and other master/PhD-degree holders are grouped together in handling so that means they compete with each others instead of compete with the undergrads)  - Top US schools preferred, top EU schools also acceptable but probably hired through local branch instead of directly by the HK branch
- Yes to local HKers from HKUST
- Haven't seen mainlanders from local HK schools, but yes to mainlanders from top US firms

Top US iBank case:
- MBA preferred
- Top US schools preferred, heavy on-campus recruitment push
- Yes to local HKers from HKUST

*Note that the above is not meant to be comprehensive and is not an attempt in drawing any conclusion.  Please feel free to add your own observation as well.   

shadeslayer

原帖由 honeybunny7 於 13-08-26 發表
本帖最後由 honeybunny7 於 13-8-26 11:04 編輯

It is interesting that from the subject of this thre ...

Thanks. Would you like to share why few HK Uni graduates hired by ibanks?  Or why a resounding yes to HKers from HkUST and not other Unis in HK?

honeybunny7

In my experience, hiring at iBanks and consulting look for independence and critical thinking, which HK traditional school training doesn't provide.  But HK students possess drive, strong financial understanding and interest, and the ability to handle both the Eastern and the Western at ease, and that's a selling point to banks and consulting practice in HK.  

Mainlanders returning with a degree from top US schools are fluent in Mandarin, and somewhat okay in English, and they understand the local Chinese culture, making them perfect for conducting businesses in the fields of iBank-Corp Fin, Consulting (particularly the SOE teams), and Private Equity for example.  iBank-Research also requires super strong Mandarin fluency so Mainlanders would have edge, but there are some local HK grads with that level also.  But in my observation, the mainlanders can sometimes appear to be so ignorant and arrogant and naive that they get dinged after the first round.  Being self-centered and non-team-player is their biggest enemy if they want to work for somebody, but HK students also suffer the same shortcoming albeit in lesser degree.   

iBank-sales & trading requires more technical
skills (quantitative in trading / quants, soft quantitative but strong sales ability in sales) and English-speaking, so you can go without any ability to speak in Mandarin in some cases.  From this point, strong HK students can get in, though banks often look for top overseas grads.  Particularly in sales jobs such as deriv sales, young, smart, good-looking girls get the job done.


With all that said, I'd not want my kids to be in banking, and many of my banking friends would concur...  so why bother?

honeybunny7

回復 shadeslayer 的帖子

Well, i wouldn't say that's a resounding Yes.  I just wanted to confirm that we did hire from HKUST undergrad.  I'm not sure if we hire from HKU and CU, but I did interview a handful from HKU though they were not impressive.  HKUST has programs that feed well into some sections in banks so the cream of their crops do get selected.  It also seems that HKUST in general expose students to more project-based learning.
But, you have to know, the hiring in these past few years have been scarce when compared to the heydays of banking, so the sample size I'm referring to is really small.

In terms of why not or few from HK schools, here are some observations:
- During college years, my friends from HKU and Imperial College used to talk about how hard they must study the past papers of each professor and memorize the answers, because the professors often recycle exam questions.  I laughed at such laziness of the professors.  At Penn that never happened, learning is through weekly projects, and there's nothing to memorize, as we are all allowed to create our own cheat sheets.  US schools want students to learn to apply and manipulate knowledge, not just to memorize them.
- At a top global consulting firm, US-based, undergrads at top US schools are recruited as analysts, but only master degree or PhD degree holders from top EU schools (Cambridge, Oxford, etc.) are considered for analyst posts, with the same pay.  Why doesn't the firm hire undergrads from top EU schools?  Because students from these schools are considered as lacking the ability to solve problems independently and work in teams.  This is probably true to some HK uni.
- Under the HK school systems, which focus so much on marks instead of actual learning, everyone wants to take short-cuts.  Relatives working as professors / researchers at HKU / CU / PolyU told me stories how their labs' people would cite each others' papers for NO good reasons just to pump up the "overall citing counts".  That's such a shame!  During my undergrad years I worked for researchers whose ground-breaking research get cited across the globe, so a small potato like myself could get my name on published papers via hard work.  Cutting corners like that is like cheating, to me.  

Note that my observations above may be limited, so if you have other ideas please do share.

HKTHK

回復 honeybunny7 的帖子

Almost everyone I knew who worked at ibanks before would agree that they don't really want their kids to go into banking

annie40

最唔想阿女做的工作:

1) Banker
2) Doctor
3) Accountant
4)...........

honeybunny7

回復 HKTHK 的帖子

Yes definitely. Most of us got into banking for the same reason - $$$,
and then we get tired of banking for different reasons.

Fish777

回復 annie40 的帖子

basically totally agree with you. Except dr is ok if she can choose something more lay back like dermatologist. Ibanker no even for a boy. No offend but I just think working for money alone is meaningless, while being a dr at least can help people.

annie40

最唔想阿女做的工作的原因:

1) Banker - 人在江湖,身不由自己,说大话机会大. 对精神唔健康
2) Doctor -长期的读得辛苦, 工作上压力大, 对身体唔多好! 在美国医生的离婚% 是普通人的八倍,自杀% 又高很多!
3) Accountant - 太苦闷!
4).............

相对而言, 我的想法是非常自私的妈妈心态, 跟making the world better and making more money 完全无关矣!  当然如果孩子们觉得以上工种快乐,满足又多fun, 咪去做咯! 是她做又不是我上班.

Mrslot

原帖由 annie40 於 13-08-26 發表
最唔想阿女做的工作的原因:

1) Banker - 人在江湖,身不由自己,说大话机会大. 对精神唔健康

I just want my boy to do what he likes to do, I don't really care if he becomes a professional or not, as long as he is happy with his job and he can pay his own bill, I will be happy enough

Fish777

annie40 發表於 13-8-26 16:01
最唔想阿女做的工作的原因:

1) Banker - 人在江湖,身不由自己,说大话机会大. 对精神唔健康

美國做doctor死梗，長期比人告

FattyDaddy

honeybunny7 發表於 13-8-26 11:01
Top US iBank case:
- MBA preferred
- Top US schools preferred, heavy on-campus recruitment push
- Yes to local HKers from HKUST ...

Thanks for the input, so they do recruit Hongkongers, with preference for HKUST graduates. I'm not in the banking profession so I can't tell whose picture is closer to the real situation, but judging from gut feeling and logic, yours seems to make more sense.

If investment banks have no interest in HK talents, then I see no reason why they bother to set up shop in HK at all, I mean, HK isn't exactly cheap, and renting the kind of premises which these banks like to occupy costs an arm and a leg, so if the bulk of their business interests are in China and they are just parking their US and China employees in HK, they might as well relocate to China completely and save tons of money.

FattyDaddy

annie40 發表於 13-8-26 16:01
1) Banker - 人在江湖,身不由自己,说大话机会大. 对精神唔健康

Example, 梁錦松, Citicorp, Chase, JP Morgan

Famous saying, "香港人有咁耐風流 ...", can't remember whether he said the remaining half, but that was enough to cause an uproar, and then what did he say? "我係番書仔, 我中文唔好". What a weasel

honeybunny7

回復 FattyDaddy 的帖子

Not sure about this, tax and regulation could be big reasons to stay in HK.A friend told me her PE firm has the whole team working in Shanghai, but still keeps ~one person and an office in HK for tax reason.  Not a tax expert myself but that's what I heard.
Anyway, I don't think we should discount the HK talents completely.  People dramatize about everything nowadays.  Just relax, we are (still) fine.  :p

annie40

点解甘多人搶人住认中文唔好, 难度中文唔好就等于英文好到'飞天'吗?

其实他的那口英语还是'麻麻地', 够竟正确一点的说法应否是:

我係'番薯', 我中文唔好,英文唔算好, 不过够高大威猛.(同骑师比), 口才了得, 因此娶得跳水皇后 ,入籍中国,  我唔算是香港人了, 因而可以继续風流快活呢!

honeybunny7

回復 annie40 的帖子

Another way to look at it - as parents we're gonna sacrifice ourselves, go into these disgusting / boring professions and make a lot of $$, so that our kids won't have to choose these professions if they don't want to.  
Who doesn't wish that they had just given birth to another Steve Jobs / Yo-Yo Ma / Lang Lang?