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We have some updates on our career stats. The figures are what we have now and not yet final but you can take them for reference first.
In terms of job location, 90% of the 2011 graduates who reported their careers are working in Asia Pacific region. We have 52% working in Hong Kong, 20% in China, 5% in Singapore, 7% in Europe, 3% in North/Latin America/the Caribbean, and 13% in other Asia Pacific regions. The median annual base salary is HKD651,118/ ~USD83,477 and the mean is HKD600,000/~USD76,923. Bonuses, even guaranteed ones, are not included in the base annual salary.
80% of those now working in consulting switched their career. 83% of those working in finance - investment management/investment banking/research and 53% of those now working in finance - analysis, sales and trading, treasury had a career switch.
Hope the above is useful. Any questions, just let us know.
The median salary figure is really impressive. It is already as much as 70-80% of Magic 7 school's figure! Given that the tax rate in Hong Kong is capped at 15% only, The after-taxed salary might be very close to US Top School!
I was happy to learn that HKUST offers a Pre-Session Mandarin Course free of charge to its MBA students. I am wondering whether this course was designed for beginners or whether it can benefit students who are already proficient in Mandarin as well? Also I am wondering what type of Mandarin training is available during the 16-month program?
Last edited by shanghaizzle on 25 Oct 2011, 16:55, edited 1 time in total.
While I will wait for the HKUST adcom's response, I can share some info about the Mandarin course, which was one of the big takeaway from the MBA tour. I was told that some students take the mandarin course in Beijing before the start of the MBA session. By doing this, we can devote more time in learning the new language and get an opportunity to acclimate with the new culture. While the HKUST course is good to learn the new language, the problem is the lack of time. Also, By the end of the MBA program, we may not be at the desired proficiency level required for the job in HK or China.
I am seriously considering the idea of spending 6 weeks in China and devote time in learning the language.
It is difficult for us to say how your 10+ years of work experience will be approached here since it really depends on your overall profile and whether our MBA can help you achieve your goals. But we would be happy to address this question in a phone consultation session with you after we get to know you better. If you are interested, you can sign up for a session and upload your CV here: http://www.mba.ust.hk/asp/intake2012events/indconsult_cv.asp
1.I want to know How is HKUST different from other business schools?
2.I have 2.5 Years Exp in a software industry and i have 86.5% in my 10th standard,88% in my high school and 81.1 in my under-graduation where do i stand in getting into HKUST, and with my academics what is the required Gmat score to get into this business school?
1. How HKUST is different from other business schools
a. Asia and China focus
Hong Kong is a popular choice of base for regional operations for both global business going East and Asian business going global because of its location at the gateway of China and heart of Asia. We have former senior executives with exceptional experience in Asia business as our faculty, including the former CEO of PepsiCo Asia, former CEO of Walmart China, former Chief Marketing Officer & Chief Information Office of IBM, etc. Our faculty will not only use global business cases but also Asia-specific case studies during class. Also, over 90% of our graduates work in Asia and give rise to our strong alumni network in Asia. If you want to work in the booming markets in Asia, then our program can be the right place for you.
b. Global exposure
We have a small class size compared with other MBA programs, with 100-120 students enrolling each year. But over 25 nationalities and 90% non-local nationality are represented in this small community, which accounts for a highly intensive multicultural experience. Students will be divided into groups in the beginning of the program to make sure a certain diversity is always present in each group and to avoid people of similar backgrounds from spending all the time together. Class profile: http://mba.ust.hk/ftmba/studentlife/profile.htm
Exchange opportunity is also guaranteed and students can choose from 56 exchange schools in over 17 countries, including both Asian (China, Singapore, etc.) and western (U.S., London, etc.). Exchange school list: http://mba.ust.hk/ftmba/program/exchange.htm
We have a 16-month program which is shorter than other MBAs and still includes a summer free from studies for students to pursuit an internship and a semester for exchange. So the opportunity cost is lower compared with other 2-year programs.
We have 5 career tracks for our electives so that students can choose to focus on an area most suitable for their goals and interests. They include General Management, Finance, Marketing, Consulting and Strategy, and Entrepreneurship.
Our admissions committee will review candidates' whole profile when making the admissions decision, including intellectual capacity (GMAT, undergraduate performance), work experience (work references, amount of work experience, global exposure, management experience, etc.), personal attributes (communication skills, confidence, teamwork, cultural sensitivity, etc.), matching (your goals and whether our program can provide what you need), and potential contribution to the program.
Therefore, we do not have any specific requirements for any of the above areas. As a point of reference, the mid-70% range of our current class' GMAT is 600-720. Normally, we will access a candidate's GMAT together with his/her undergraduate performance. So having a very good undergraduate performance can complement a lower GMAT score and vice versa.
1. Please throw some more light on the exchange programs? What number/percentage of students go to top 10 - 15 schools across the globe? 2. What percentage/number of students with non-finance background are able to get into hardcore finance jobs such as IB, Corp. Finance, Asset Management etc.? I have more than 3 years of experience with about 1.5 years in Financial Management and Sourcing Advisory with one of the Big 4s 3. I have absolutely zero knowledge of Mandarin and personally I think I don't I have a knack of picking up languages (as only once in my life did I try to learn a foreign language (French) and I was really bad at it, I do not consider English as a foreign language). Would all this be a problem pre/post admission or for getting a job? 4. My college GPA was not very good (6.5 on a scale of 10). However, I would like to point out that my undergrad college (Indian Institute of Technology) follows a relative grading system. Moreover, the overall competition in the college is pretty high as only the 'top' rankers are admitted to the college. How important this factor would be? 5. Do Indians need to take TOEFL? As I stated earlier, I am a graduate of Indian Institute of Technology (IIT) Roorkee and English was the medium of teaching 6. Are there any quotas/preferences etc. for certain demographic profiles, I know Indian male is generally an over-represented demographic profile. Are there any additional requirements(a higher GMAT score or something) for my demographic profile? 7. Lastly, does the academic background of recommender also play a part? My current boss is a NUS passout and I am hoping to get a reco from him, will that be useful?
Just to complete my profile, I have taken the GMAT and my score is 700 (Q50, V34) and I have completed FRM (Full) course and also passed CFA L-1. I am still contemplating taking the GMAT again.
Thank you for your interest in our program. Below in red is our reply.
1. Please throw some more light on the exchange programs? What number/percentage of students go to top 10 - 15 schools across the globe? First of all, our students may not all opt for the global top 10-15 schools. Quite a number will choose schools which may not be considered as top global schools in rankings but are relevant to their goals or interests, e.g. schools in China or Singapore. Also, it is difficult to judge which schools are the top 10-15. As a point of reference, around 50% of our students going on exchange this year went to LBS, Berkeley, Chicago, Columbia, Cornell, NYU, Kellogg and UCLA. However, the number of seats available for each school is subject to change every year.
2. What percentage/number of students with non-finance background are able to get into hardcore finance jobs such as IB, Corp. Finance, Asset Management etc.? I have more than 3 years of experience with about 1.5 years in Financial Management and Sourcing Advisory with one of the Big 4s So far we don't have stats that specific for this year's graduate performance. However, we can tell you that 79% of our 2011 graduates changed their career function after MBA and 31% of the whole class are working in finance-related roles.
3. I have absolutely zero knowledge of Mandarin and personally I think I don't I have a knack of picking up languages (as only once in my life did I try to learn a foreign language (French) and I was really bad at it, I do not consider English as a foreign language). Would all this be a problem pre/post admission or for getting a job? It really depends on the nature of your job and what markets/clients you have to deal with. If it involves working with Mainland China market/clients, then it is very likely that Mandarin is required. If the job nature is more global, then Mandarin may not be that important. However, knowing Mandarin can always open more doors for MBA graduates who want to work in Asia.
4. My college GPA was not very good (6.5 on a scale of 10). However, I would like to point out that my undergrad college (Indian Institute of Technology) follows a relative grading system. Moreover, the overall competition in the college is pretty high as only the 'top' rankers are admitted to the college. How important this factor would be? We look at candidates' GMAT score together with his GPA when we evaluate his intellectual capacity for our MBA studies. If your GPA isn't that good, you should get a higher GMAT score. Your current score of 700 is decent enough and at the higher end of our mid-70% range for the latest class.
5. Do Indians need to take TOEFL? As I stated earlier, I am a graduate of Indian Institute of Technology (IIT) Roorkee and English was the medium of teaching If you can submit proof (e.g. an official letter by your university) stating that the language of instruction in your undergraduate degree is English, then you don't need to send us a TOEFL score.
6. Are there any quotas/preferences etc. for certain demographic profiles, I know Indian male is generally an over-represented demographic profile. Are there any additional requirements(a higher GMAT score or something) for my demographic profile? We don't really have specific requirements for a particular demographic profile. Still, having a prior international exposure can be a distinguishing factor since quite a number of Indian candidates only have local experience.
7. Lastly, does the academic background of recommender also play a part? My current boss is a NUS passout and I am hoping to get a reco from him, will that be useful? Your referee's academic background doesn't really matter as long as he is someone who can provide solid comments on your work performance and capabilities. We look at candidates' references to learn more about what kind of person they are rather than whom they know.
1) What is the acceptance rate of HKUST. i.e. how many applications are received, how many interviewed.
2) What other financial organizations offer the management associate program. When I gleaned your site, I came to know of Standard chartered MA program. I really liked the features and concept of this program.
3) Apart from Investment banking & Trading, how many students prefer consumer banking. Also how many banks offer roles in consumer banking? What positions do companies offer in consumer banking.
Thank you for your interest in our program. Please see our reply in red below.
1) What is the acceptance rate of HKUST. i.e. how many applications are received, how many interviewed. I am afraid we do not disclose these figures. Still, we can tell you that due to increasing interest in Asia/China business around the world and our worldwide recognition as a top MBA in Asia, our admissions have become much more competitive compared with previous years.
2) What other financial organizations offer the management associate program. When I gleaned your site, I came to know of Standard chartered MA program. I really liked the features and concept of this program. Citibank's consumer banking branch also offers a management associate program. In fact, their team just did a recruitment talk with our students earlier this month, and one of our alumni who is now working there as Country Manager shared his experience in the MA program during the talk.
HSBC has an International Management Program and our students met with the International Managers earlier this fall in a recruitment talk as well. More info here: http://www.hsbc.com/1/2/careers/im/about
Some management associate programs are available overseas. One of our graduates this year was recruited by Citibank's headquarters in New York into its Global Engagement Management Associate. He is receiving training in New York and will be assigned to work in the Tokyo office in the future. MAs of this program are required to work in both developed and emerging markets so our students who have exposure to the Asia and China markets have an advantage when applying for such positions. Details here: http://www.oncampus.citi.com/careers/north_america/corporate_functions/citi_global_management_assoc.aspx
3) Apart from Investment banking & Trading, how many students prefer consumer banking. Also how many banks offer roles in consumer banking? What positions do companies offer in consumer banking. It is difficult to count how many students prefer consumer banking since students' preferences change every intake. And our class is very diverse so the range of interested areas can be really varied as well. Here are some of the banks where alumni are now working in their consumer banking branch for your reference.
Banks: Citibank, Standard Chartered, UBS private bank, HSBC, DBS, Bank of China, CITIC Bank International, The Bank of East Asia, etc. Positions: Premium Relationship Manager, Channel Marketing & Communication Manager, Senior Sales Planning & Communication Manager, Investment Consultant, Assistant Vice President (Local Corporates, Origination & Client Coverage), etc.
Hi HKUST team, Going through your website, i saw your program is focused mainly on China. I am an Indian and would like to work in any asian English speaking country. Is it like your program is more focused on China or i just interpreted something wrong.
Hong Kong is not just a gateway to China but also an important Asian business hub. Our program is positioned to offer students exposure in both China and Asia business in the following areas. We encourage you to download our brochure to get a full picture here at the same time: http://www.mba.ust.hk/enews/subscription/brochure.asp
1. Faculty Our adjunct faculty have considerable business experience operating in Asian markets and can share with studens their management experience in the region. E.g., - Prof Ron McEachern, Former CEO of PepsiCo Asia - Prof Caroline Wang, Former Chief Marketing Officer & Chief Information Officer, IBM Asia Pacific - Prof Chris Doran, CEO Asia, Strategic Thinking Group
2. Case studies We not only use case studies from China but from other Asian countries as well in class so that students can discuss how to tackle challenges faced by different businesses. E.g., - Cathay Pacific: Doing more with less (Hong Kong) - DeBeers: Diamonds are for Asia - Unicapital (Philippines) - Samsung China's entry strategy of color TV (South Korea) - The Benevolent Benefactor - Temasek Holdings (Singapore) - Walt Disney Company's Yen Financing (Japan) - Singapore Middleman
3. Network We have around 20% of students coming from Asian countries excluding China this year. More than 75% of our alumni are working in Hong Kong and other Asian countries excluding China such as Singapore, Japan, Korea, Thailand, Philippines, etc. Such a network will be an invaluable asset for our students in both short term and long term career development in the region. - You can refer to P. 13 of our brochure to see which companies our alumni in Asia are now working in.
4. Field trips Field trips to various countries in Asia are organized by our student clubs, career office or the native students for students to get a personal experience of working and living in that country. Earlier this year, the students went to Singapore, Japan, Korea, Taiwan, etc.
Hope the above helps. Any questions, just let us know.
I am planning to apply to HKUST for the class starting in 2013..What concerns me though is lack of financing options for international students at HKUST. Unlike most other top Asian B-schools (such as the NTU and NUS in Singapore where education loans are offered by DBS & OCBC at very nominal interest rates to international students without any collateral), HKUST clearly mentions on its website
"Given limited access to local financial schemes, international students studying in Hong Kong are strongly encouraged to arrange study loans in their country or region of residence"
This is a discomforting thought because I hail from India, where the interest rated for education loans are steep and require collateral .....Wonder if somebody can help with some more information about regarding this.
Banks in Hong Kong mainly lend money to local citizens and not international students. It is also much easier for candidates to get their loans approved by banks in the same country as they are. But we are also aware of this issue and are currently exploring loan options with banks in India that offer a more competitive rate. If there is any new scheme, we will post it on our website immediately.
Students with financial need can apply for our need-based grant (no need to pay back). This year, we have also launched some new scholarships (e.g. the Outstanding Leadership Award which covers more than half of the tuition fee) for those with potential.