Re: University of St.Gallen (HSG) MBF 2014 intake
[#permalink]
11 Mar 2014, 09:21
Hi,
while I am of a rather positive Tier (fluent in German, EU passport), I just want to add my 2 cents since the discussion seems to be getting offhand.
The school is great, as long as you fulfill key criteria. This is a cultural thing, as in, UZurich, HEC Lausanne, German top-schools will give you 99% of the same experience.
First, being placed in the German speaking area(CH,DE,AT) and you're intending to learn German to a fluency level or you want the really fancy positions(IBD, Markets, consulting with Goldmans, JP, etc.
If you do not have an EU passport, getting placed in Switzerland is hard. very hard.
1. The only reasonable way is to learn English+German(C1)+X(basically, be from a BRIC country).
This is not the schools, but the administrations fault - they need to prove that you have some skill that all of Europe(ex Russia) doesn't have.
A good story is that you can open markets in BRIC. Only speaking English isn't, you just gotta deal with it that language is very important.
2. The only 'easy' way to get placed is to learn German(C1, or fluent) and have good grades. Some older managers in Switzerland and Germany only speak crap English. The less educated only speak German(e.g. a purchase manager). They want you to deal with them at some point, because companies hire you for a long-time. (After 5 years it's incredibly expensive to fire you anyway).
If you can't speak a communicable level of German, you won't be able to talk to senior management. Same for talking to clients. You're a biz student, so you don't have too many skills except client-facing stuff, whether its via email or phone. And this one needs language. Yes you can do a fancy DCF model, the Indian guy can do it too. In India. for 20% of your wage. FOr exampke, I worked for DB in Germany, and they have an underpaid Indian quant who creates spreadsheets/models for pricing derivatives/etc for them.
If you can't speak German on a good level, there's no way you will have a good enough level by the time you face clients/senior management(1-2yrs) in any way.
That's how the system works. There's no way around.
3. Germany is CH on easy mode. If you don't get placed in CH, this is due to the permits. For fulltime, Germany doesn't have this issue - fulltime, everybody earning above EUR43k per year(including bonuses) gets auto-permit, which is pretty much everyone.
Surprisingly, if you speak German, companies seem to be willing to issue you a permit for internship as well. It seems easier than in Switzerland, I know quite a few guys who learned German and then interned in Germany(or worked fulltime for that matter).
If you don't want to reach fluency level in German -> want to be placed in London
This is hard, for a single reason, and why snowden ticked out.
If you want to get into investment banking in Germany, but your school wasn't a top-tier/you didn't get hired/you studied astrophysics with perfect grades, it's simple, for your masters degree you go to St Gallen/LSE/WHU. It's easy to get admitted if you have good grades and GMAT and it has a ridicolously strong brand in Germany and London front office jobs.
So you get a mix of the top students from various German schools, who mostly have a IBD internship, or two. Most of them speak fluent English, German, and often a third language on a decent level.
This is your competition for the front office roles. It's job-hungry Germans who tend to be the in the top of the class. Now those guys also only care about the really good companies, so they dont care about 3rd tier shops, therefore the third tier shops also don't have any HSG alumni. As a result, you should only pick HSG for this if you think you can keep up with those guys(for getting placed to London).
If you dont want to reach fluency level in German and want to be placed in Germany/Switzerland.
From my PoV, close to impossible since you don't bring a hard skill(medicine, engineering, informatics).
A guy I know who studied Physics in Russia, got a job at one of the large insurers long before graduation. So if you do have a qualification of sorts, that makes this way easier.
Summary:
You want to get a good job in CH/DE, learn German or get a hard skill(engineering, medicine, etc). Then go to HSG. But if you want to stay, you need the language.
If you want to get a good job in UK, you're likely better of going to UK.