Need Advice on Employability

Jonathan.R · 28-06-2012, 10:31 AM

Good morning everyone!

I am having a difficult time evaluating my chances of gaining employment in Hong Kong, and I would greatly appreciate any help/insight from the business community on this.

I am an American student that is about to graduate with a Economics/Finance Bachelor's degree. I have 3.5 years (full and part-time) of Marketing and Data Analysis experience, and 2.5 years of regular retail experience.

Unfortunately, my Cantonese and Mandarin skills leave a lot to be desired. When looking at job listings online, many of them seem to ask for fluency in Cantonese as well as English.

What are my real chances of finding an entry-level finance or analyst job in HK?

I am also contemplating getting a Master's in Economics from HKU...would this greatly improve my employability?

Thank you for any and all advice.

Best,
Jonathan

Claire ex-ax · 28-06-2012, 10:48 AM

I can't really assess your chances but you would be up against local graduates, who would have local knowledge, perhaps have done internships at the companies, attended job fairs/interview on campus, be trilingual, not require employment visa sponsorship, be in Hong Kong for immediate interviews, be willing/able to work cheaply because they're living at home with their parents, etc.

If you do your Masters in Hong Kong, there is the "Immigration Arrangements for Non-local Graduates" (IANG) through which you can apply to stay and work in the HKSAR without the requirement of securing an offer of employment at the time you apply. You could then stay for 12 months to look for a job/work.

Your experience could well count (it's not an industry I currently have knowledge of). But whatever, you really have to be in Hong Kong before many employers will even consider your resume. Good luck.

Jonathan.R · 28-06-2012, 10:53 AM

Thank you very much for your insight Claire!
I realize that it is quite the battle to be competing against bi-/tri-lingual graduates that don't need visa sponsorship. I think going the Masters route would be my best chance, but I am trying to gauge if that is a chance even worth taking. It sure is a lot of money to invest, and I would be pretty bummed if it didn't help me towards getting a job in HK.
Maybe the wisest decision is to gain experience in the US first...?

Thanks,
Jonathan

Trebor · 28-06-2012, 11:25 AM

I'd suggest starting at a US bank with global reach and then aiming for an internal transfer to their HK office.

Oldtimer · 28-06-2012, 11:26 AM

Get a job in USA with a Finance institution which has operations in HK. After few years ask for an internal transfer. In meanwhile continue with your education on part time basis.

Quote"Maybe the wisest decision is to gain experience in the US first...?:

Thanks,
Jonathan[/QUOTE]

Claire ex-ax · 28-06-2012, 11:35 AM

Both studying in Hong Kong and getting a job in the US first have their advantages. One for the former is that you could be building a network of contacts while you study, plus have first dibs at jobs through the university's careers office.

Jonathan.R · 06-07-2012, 09:40 AM

Thank you very much Claire and Trebor! I really appreciate the advice.
I think I will make a go of the Masters in HK and go from there. I'm sure with hard work and determination, I can find a job.

Thanks again!

bibbju · 06-07-2012, 11:19 AM

To be very frank, finding an entry level job in Finance is not about determination or hard work. The jobs just aren't there right now. The market is extremely tough now and it looks likely to continue that way for at least a few more years. I work for a large and very well known global bank that has applicants falling over themselves for entry level roles. The competition for these roles is more intense than it has ever been (and it's always been pretty hardcore). And these roles have been cut back severely.

Having a masters from HKU is not going to open many (if any) doors for you in this climate. You need to stand out and have something special....in HK, good academics are not special, almost all applicants have them. For example, we have a local student doing a one year placement with us as part of his degree (before going back to university for his final year). He's been outstanding and I would happily employ him over some of the people we have that are permanent (and so called experienced) employees. He was recommended for an entry level position when he graduates but despite multiple good references from current staff (including our Global Head), he was unsuccessful in securing a role as the intensity of competition was just too great and the number of roles available too few. The selection process was brutal.

I'm not trying to put you off Jonathan but you need to understand that doing a Masters in HK will not necessarily improve your chances in this climate if you don't have the skills and experience to back it up. Even if you do have the skills and experience! Everyone wants to work in HK right now so you need to be beyond special to stand out. The majority of advice on this thread has suggested that staying in the US for a few years would be more prudent and I completely agree. However, there's nothing wrong with taking a risk, especially when you're young and have less to lose, but you need to wise up as comments like "I'm sure with hard work and determination, I can find a job" show a worrying level of naivety (and a lack of awareness of current conditions).

HowardCoombs · 06-07-2012, 11:26 AM

Originally Posted by bibbju:

However, there's nothing wrong with taking a risk, especially when you're young and have less to lose, but you need to wise up as comments like "I'm sure with hard work and determination, I can find a job" show a worrying level of naivety (and a lack of awareness of current conditions).

Agree with everything bibbju says but I would also add that when times are tough, hard work and determination counts but there is something even more important dumb-luck and being at the right place at the right time.

Come, see, network with others and hopefully you may be able to make your own luck by being at the right place at the right time and say the right things to the right person. This is by no means easy but it can happen.

Jonathan.R · 07-07-2012, 12:44 AM

Much appreciated, everyone. DeletedUser, I appreciate your thoughts about a HKU Economics Masters.

Bibbju - No need to worry about my level of naivete. I'm well aware of how difficult it is, and should have written a more thought-out comment than the one I wrote while in the middle of another project.

I will continue to do my research, but I greatly appreciate all of the advice in the thread. It is very relevant and will factor into my choice about enrolling in a Master's program at HKU. THANK YOU!