The opportunities are especially rich for MBA grads: of CUHK Business School in Hong Kong’s 2018 class, 93% of students secured job offers in Asia, with a 96% employment rate three months after graduation.
These figures are hard to argue with—but which industries should you be considering if you’re looking for a career in China?
Here's our countdown of the best opportunities for MBA grads in four of China’s growth industries:
4. Working in one of the hottest markets for gaming and entertainment
Moving your career to China could be an opportunity to work hard and play hard—in a very literal sense.
The country has become the world’s largest video games market according to PwC, and its growing games industry generated the equivalent of $24.8 billion in revenue in 2018.
Games aren’t the only entertainment that’s soaring in popularity in the country: PwC also reports that China’s cinema segment is growing at a ‘brisk rate’, with box office revenue growing by almost 10% in 2018 and the number of screens in the country increasing from 9,303 to a whopping 60,079.
In such a rapidly-growing sector, knowledge of business strategies is essential, and data visualization and business intelligence can be invaluable when it comes to analyzing consumer behavior.
These are all skills the MBA at CUHK teaches, and that is perhaps why CUHK MBA grads at least are seeing the benefit of China’s entertainment boom: 9% of them found employment in the industry in 2018.
3. Getting a front-row seat to the latest tech innovations
This one might seem obvious, as it no doubt creeps into every other industry on this list.
According to the World Economic Forum, high-value tech businesses in China are being funded faster than anywhere in the world, with the number of ‘unicorns’ in the country sitting second only to the US as of February 2018.
Tech training is something that MBAs in a hub like Hong Kong get full access to.
The electives offered on the CUHK MBA program give students an understanding of how to apply AI and machine learning technology, as well as a primer in dealing with fintech, while the school’s proximity to the tech and startup hubs of Shenzhen and Guangzhou provide the opportunity to see the latest tech in action.
It pays off: 11% of CUHK’s MBA grads ended up in the tech sector after graduating.
2. Consulting with companies as they manage digital transformation
Another area for those looking for a career in China to consider is consulting.
In 2017, Consultancy Asia announced that the management consulting market in China had grown by 12% to amass a total revenue of $4.5 billion—a huge jump that reportedly places the sector ahead of its equivalents in France and Australia.
This growth is partly thanks to the parallel growth of the tech industry, as the new capabilities of technology in Asia have demanded that businesses undergo radical digital transformation.
This is the perfect time for management consultancies to come in to help, and consultants from MBA backgrounds may have a particular advantage.
At CUHK, for instance, MBAs can choose an elective in digital transformation and innovation, during which they will be exposed to what the school calls ‘the New Normal’ of high-tech business strategy.
The school also plays host to many tech-related events, for instance Hong Kong FinTech Week, where students get to experience the latest innovations up close and personal.
In fact, 11% of CUHK MBA grads went into consulting roles last year.
1. Working in one of the world's most exciting fintech markets
The final industry that professionals should consider when looking for a career in China is Financial Services.
According to a report published by Ernst & Young in July 2019, China is currently the world’s second-largest wealth management market, with foreign investment channels opening up to accommodate Chinese residents’ demand to invest in foreign assets.
Fintech in particular is an emerging area, with a separate report by EY detailing how the high availability of capital within China means that investment is forthcoming for domestic fintech startups and products.
In conjunction with the world’s largest consumer base, this is unlikely to slow down any time soon, and with events like Hong Kong Fintech Week happening on their own campus, CUHK MBAs at least are getting a front row seat.
Indeed, 37% of CUHK MBA grads landed jobs in financial services—far more than any other segment.
Clearly, there are many reasons to transition to a career in China, and an MBA can be your secret weapon when it comes to making your application stand out from the pack.