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Wall Street, Hong Kong Lead Banks' Business School Hiring Surge

Wall Street banking behemoths spin hiring machines, while Hong Kong finance sector turns to business schools for talent.

Wed Jul 22 2015

BusinessBecause
Talk of Hong Kong as a banking centre recently has focused on the extraordinary collapse of China’s stock markets. Yet the bulge bracket banks continue to place Hong Kong in their crosshairs — and this is opening up recruitment at banks, brokerages and asset managers.

The Asian city is at the forefront of a revival in global banking recruitment at the world’s top business schools, along with New York, where employment surged on Wall Street last year for the first time since 2011.

Recruiters note an increase in hiring from Chinese banks and investment firms both in Hong Kong and from the mainland. “There are more and more Chinese financial institutions which are listing in Hong Kong, and they are looking for talent,” says Lawrence Chan, a director at Hong Kong’s CUHK Business School.

International lenders are also setting their sights on China, with the likes of HSBC and Société Générale shifting resources to Asian markets.

Against this backdrop, Chinese language skills are a hot commodity. “Chinese is a distinctive advantage,” Lawrence says. Employers have also sought students who are able to speak Indonesian or Vietnamese, he says. About 40% of CUHK graduates are employed in finance; 20% at investment banks.

On Wall Street, investment banking recruitment is near pre-crisis levels at some schools.

“In New York, the banks have come back,” says Roxanne Hori, associate dean of career services and corporate relations at NYU Stern, which expects 27% of its MBAs to join investment banks this year.

The biggest lenders like Bank of America, JP Morgan and Citi are hiring the most. Yet students have opportunities at middle market firms and at smaller boutiques, says Regina Resnick, associate dean for the Career Management Center at Columbia Business School.

“With the rebounding of the overall economy and a strong IPO market, firms are hiring again in greater numbers,” she says.

Up to 30% of students at Georgetown’s McDonough School of Business are employed in finance, and Wall Street recruiters are starting to take notice of the Washington based institution. “Banking recruiting at Georgetown continues to build,” says Jennifer Boynton, assistant dean of MBA career management.

Outside of traditional banking sectors there are growing opportunities in risk management and compliance functions, she notes. Sarah Juillet, director of postgraduate careers at London’s Cass Business School, highlights the growing popularity of client-focused roles, and continued interest in private equity.

Yet the jobs for MBAs in the City are arguably less, with a rise in hiring undergraduates to fill associate and analyst — the entry level — positions at top banks.

“The UK has always had a history of targeting undergraduates or master’s students to fill entry level talent pipelines, then promoting them to associate level jobs,” says Mark Davies, employer relations manager at Imperial College Business School in London.

Business schools remain optimistic, however. “Banking recruitment is very strong,” says Christian Dummett, head of finance careers at London Business School. “The key driver is a marked increase in M&A activity globally.”

Student Reviews

Bayes Business School

Student

Verified

31/10/2023

On Campus

Best Journalism school in Europe

When I first stepped onto the campus of City, University of London, I knew I was in for a ride - and not just on the Tube! With its vibrant energy and an impressive repertoire of programs, City U became my home away from home. The Journalism program was kind of a big deal. Rumour was that we were the best in Europe! The lecturers were not just experts in their field; they’re practically journalistic royalty. They were invested, passionate, and had a knack for turning the most flat press release into a riveting news story. With their guidance, I’ve learned to navigate the chaotic world of media like a pro. The campus was a melting pot of every culture, being that we had such a diverse international crowd. Being in the heart of London, I had the world at my fingertips - there was always a new corner to explore, a hidden gem of a cafe to discover, or a street performer! City, University of London wasn't just a university; it was a chapter in my life story that I’ll never forget.

Lydia

Verified

23/02/2023

On Campus

Learning environment

The teacher-learner ration is manageable, giving each learner a chance to gain personal attention. It is also easier following up on the progress of a student, as the numbers per class is not large. the conducive environment for learning includes clean classes, standard desks, world class instructional facilities and the opportunity to engage lecturers even after their sessions. The team spirit at City is above board, with learners getting chance to learn both from instructors and colleagues. This is the university of choice; the place to be.

Nathaniel

Verified

24/01/2023

On Campus

Classes

I liked that each class had a manageable number of learners, making the professor-learner ratio favor knowledge acquisition. I also liked that study schedules were manageable, and not overwhelming. The focus on talents and gifts even within the learning environment makes it possible for learners to achieve the best of their potential, and this has worked to the advantage of those that have schooled at City, University of London

Muhammad

Verified

24/01/2023

On Campus

Classes

The diversity at City University facilitates interactions and is a direction toward the unity of the world. The classes are well built to match the number and needs of all students regardless of the elements of diversity that set people apart. The use of technology in delivery makes learning even more interesting and achievable. At City University there is no distinction pegged on the issues that make people unique.

Dorah

Verified

23/01/2023

On Campus

professors

The team of lecturers at the Uiversity are well experienced. Their level of insight and the methodologies of delivery works for the interes of the leaeners. My learning experience was largely boosted by the level of knowledge of the professors at the institution, and their passion to transfer the same to learners. I appreciate every class I attended because of the level of insight I was able to gather

Nora

Verified

17/12/2022

On Campus

The best university I’ve been to

The campus and the people I've met have made it a wonderful experience. I was reared in a small town with a graduating class of only 88 individuals, so moving to City University was a huge adjustment for me. My dorm has more residents than my whole high school combined! I enjoy the atmosphere here, and everyone is so friendly. Outstanding academic options and a stunning campus. Really great from beginning to end. The educators genuinely love what they do, and the students are ready to learn. On or around college, there is always something to do with friends, and the social scene is particularly warm.

Antonia

Verified

21/11/2022

On Campus

Bayes Business School

As a student at City university attending Bayes Business School I would totally recommend choosing this university as the experience is exceptional with great social networking opportunities . Professors are significantly helpful, delivering with excellence and professionalism. Everyone is happy to help and make you feel welcomed in such an esteem university as City, offering exceptional development and guidance through out the course.

Muhammad

Verified

15/11/2022

On Campus

Economics and Politics

Incredibly amazing university, the way they polish students and help them boost their morale and think intellectually is worthwhile. Many universities have international partnerships to allow exchanges between their students. The most obvious subjects for these opportunities would be those that involve languages, and the study of people and places.

Navya

Verified

11/11/2022

On Campus

Clinical biology

I really like it it’s perfect for me with not too many people and not too few either. All the modules are amazing. I love the toy bar. I love all the societies that I’ma part of. Especially the colour Bollywood society

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