[Macoltrane]

OK where do I begin? I'm 18, an ABC by most standards and have lived in the United States for a great deal of my life. I've always been fascinated by Hong Kong and China and have thoroughly enjoyed getting in touch with my ethnic roots. Just a week ago I decided that I would get my undergraduate degree here in Hong Kong from the University of Hong Kong and sent in my deposit.

Ultimately, I'd like to become an entrepreneur and build my own company from the ground up. I know that I may have to subjugate myself to becoming a corporate workhorse along the way and noticed that the average pay here can be abysmal when you consider the cost of living.

I guess my question is, am I being too impractical? I realize that mainland China has great potential and it's where I intend to do business in the future. I'm still young and very naive about the business world, I do know that China has immense potential which is why I've decided to get my undergraduate degree here instead of the United States.

Is there great growth in working for a multinational here? Are the big multinationals in HK recognized by their counterparts abroad? I guess a part of me still wants to retain the flexibility to move around the world and have my degree and previous job count for something.

My primary langauge is English but I speak moderately fluent Cantonese (can't write or read). Will this hinder my chances of gaining a good paying job here? I've enjoyed my time here; I know I'm chasing a dream, albeit one that I'm not too clear of. I know that a few of you may have had similar experiences moving here and taking a gamble. It would be great if you can share your insights and experience.

Am I being impractical?

[goodkarma]

You are so right abt the pay scale in Hong Kong. As a business owner I just cannot play by the rules. I tend to pay way way over scale because I cannot expect my staff to grow and learn and become more cultured if they cannot even afford to have a coffee at Starbucks.

I don't know the solution but I'd say you would be better off trying to find a nice family to live with to keep your expenses down while you are studying.

Good luck. You are so articulate and such a nice poster, you should be just fine.

[athena]

Hi Macoltrane

I like your term “corporate workhorse” – very well put. It quite precisely describes most of us fresh graduates here!

I am not in a position to give you a straight answer to your question, but I’d like to share my experience with you. I came here a few years back to do my undergrad as well, albeit not for the same reasons as yours.

On studying in Hong Kong:
First, I assume from your post that will be doing a BBA program? In my opinion, an undergrad business degree from a HK university per se would not provide more insight into doing business in China than would a business education in the U.S. This is because most of the teaching materials we use are from the U.S. – even the case studies. You may want to check if there are available China-specific business electives at HKU. However, I guess having the experience of living in HK helps a bit in gaining market knowledge, networking. For example, there are mentorship programs where you get a mentor who is working/ doing business locally. By talking to them, you could get more career tips and perhaps even practical business knowledge.

Personally, I prefer the case-based teaching method of some North American business schools. I had a couple of such courses in HK, but some are still lecture-type with less interaction/ projects, and which focus more on technical knowledge than application.

Multinationals: there are heaps of them here and there are also HK companies with worldwide operations e.g. Li & Fung – I heard they already have an office in NYC. We also see more European retailers like H&M expanding in HK/China.

Language: Generally speaking, being fluent in English and Cantonese is already good enough for finding a good paying job… but not being able to read/write Chinese may limit your choices. Say for Management Consulting firms, Management Trainee or marketing positions – they would most likely require a certain level of Chinese proficiency. Don’t worry though, you’re already better off than me who speaks baby Cantonese. Thus, my internship and career choices were limited to the finance sector and certain firms.

Goodluck! Keep up the vision and idealism!

[athena]

***Note that a "good paying job", the definition of which is subjective, may not necessarily provide you the relevant experience to achieve your particular career objective i.e. being an entrepreneur.. even if it's a multinational company.

[Macoltrane]

Thanks for the comments.

Did you study in HKU as an exchange student or full-time? If you're still in Hong Kong what do you think about the employment opportunities for ABC's here (teaching English aside, not that I have a problem with people who do it)? I've always thought that speaking Cantonese was a pre requisite for any type of work unless you're talking about higher level management, in which case I've seen many foreigners who I assume take up these positions.

About getting a good paying job. Ideally, I'd like to be paid more than the average salary so I can save up enough capital to start my own business. Of course the problem with language comes up again and I find that being an ABC (I'm not sure if you are Chinese) puts me in a difficult situation because I'm expected to understand the cultural norms and language, yet I grew up in a completely different environment.

Also, how much prestige do you think your degree from HKU carries abroad, in particular Asia? I know that HKU is well regarded in Hong Kong and some parts of Mainland China.

In any event, good luck in your job and thanks for the informative post.

[athena]

I studied as a full-time student at HKUST, and went on exchange to Canada for a semester. Well i think there's a fairly good number of people from overseas who do not speak Cantonese and yet find jobs here at less than higher management level. Though I would think there'd be more vacancies for english speakers at the investment banks. They do pay well above the HK average even in the back office (e.g. Operations, Legal, HR depts). For front office (e.g. I.Bank Division), you can get up to 40k+ a month for an entry level position. I must say that getting the job in the front office is quite competitive though, and that you might not necessarily be into finance nor the long working hours. I'm not sure about saving up enough capital from salary to starting a business..

I think HKU is fairly prestigious. HKUST has catched up as well, with the MBA/ EMBA programs having been ranked top in Asia and global rankings.
HKU and HKUST do get invited to prestigious international case competitions (more than most other Asian universities i think). For my batch, we've had the opportunity to participate in competitions at UT Austin (McCombs), USC's Marshall, McGill, Richard Ivey etc.
However, I think many employers here would have higher regard for overseas degrees from a well-known university. I do think you should still consider doing your undergrad in the U.S., and also learn Chinese while at uni..maybe after having the basics, even go to China for a couple of months or a year to immerse yourself in the language

Perhaps other more experienced people in the forum have some inputs? I am also interested to hear opinions and advice re career options and doing business.

[philippe]

1. Get a degree in USA because it has more value in the eyes of employers in HK and China. The more pretigious your University the better.

2. Do not expect to get a salary as good in HK/China as what you will get in USA unless you are expat. BTW, here we call expat those who have a HK$3 Millions package the others are simply called gweilos and gweipos.

3. I wish you luck regarding your business venture. I came to HK just for that. I started two companies in the wrong place/time, failed to get the fundings I needed, failed to get the market to accept new products/services/ideas (be prepared for that, the next time I have a new idea - like what google is doing - I'll try it in USA not here).

You can always get your degree in USA, move to HK, Shanghai or whatever you fancy, study the market while your are getting a paycheck and make your move when the time is right.

Just my two cents.

[KnowItAll]

>> BTW, here we call expat those who have a HK$3 Millions package the others are simply called gweilos and gweipos.

Absolutely wrong. You sound rather cynical....

[jimbo]

Originally Posted by philippe

2. Do not expect to get a salary as good in HK/China as what you will get in USA unless you are expat.

Wrong.

I'm over here looking for work and am on a final shortlist for a very well paid job. More than 30% increase to what I would be on in London.

And this is on local terms too. So its not impossible and all I did was send my c.v into an agency thats all.

[Mat]

1) What kind of company do you want to create (cos here it is fairly easy..basically 1 hour at the revenue tower and 5.000 HKD and there you are...)

2) Studying as undergarduate in china won't give you an edge...even though HK is back into the mother land...overseas degrees are still a + (and sometimes it is depressing to see that they prefer to do a "crappy" degree abroad than a good one at home...)

3) Speaking cantonese and/or Mandarin is a definte +

4)Securing a job without prior experience is possible BUT not easy

5) The pay is IN GENERAL better in US than in CHINA however this is nor true for HK. HK wages (even local) are fairly high (cost of living too)

6) "we call expat those who have a HK$3 Millions package the others are simply called gweilos and gweipos."...maybe not 3M but at least a one :-)))