Unfair Job Fair
December 18, 2008 – 11:27 amEarly in December, 2008 the organizers of the ‘2008 Shanghai Overseas Job Fair for Financial Professionals‘ advertised the event at Wharton through the Wharton’s Greater China Club. A bunch of people, including myself, went to New York on December 13 specifically for this job fair that should have been called ‘2008 Shanghai Overseas Job Fair for Overseas Chinese Who Had Lost Their Finance Jobs On Wall Street’.
The logistics of the event were outsourced to a company called ‘Triway‘ and I feel this was somewhat of a major mistake, but regardless, one thing this company did very well was pooling the finance professionals to the event. So about a thousand of these seasoned professionals from Wall Street were jammed into two small halls of the Sheraton Laguardia and had to stand in lines up to 50 people deep to have a couple of minutes with a company representative or an unrelated volunteer to drop the CV.
The fair was not specifically designed for MBA students so I am now wondering why Wharton and other business school students had been invited at all: some people came all the way from Emory Goizueta, and frankly, I felt sorry for them because to me, treating MBA’s this way was very unfair.
Nevertheless, as I am not looking for jobs in Finance (my focus is consulting) and went to New York to network and have fun, I actually found the long lines to be a great networking opportunity. I met a lot of great people who were eager to talk and exchange business cards. I even got interviewed by a reporter from Thomson Reuters.
Most importantly, it was a nice and eye-opening learning experience in that the general conclusion both I and my Wharton friends made is that for MBA’s from top schools to make a career in China it is best to stick with positions at big multinationals, foreign banks or any 外资企业 (i.e. foreign enterprises) or foreign government organizations. The key word is “foreign”.
After the job fair, I am firmly convinced that Chinese companies do not know what to do with overseas talent, yet. They generally do not know how to hire the overseas professionals or see much value in hiring such, too. So for non-Chinese MBA’s, there seems to be absolutely no future at a Chinese-owned company in China. At the same time, PRC has already benefited from the skills and managerial talent that expatriate managers contributed in the 80’s and the 90’s so in this context the job fair narrowly tailored only for the Chinese professionals whose jobs are at risk in the USA looks strange.
Compare that to the Korean or Japanese counterparts, and you’ll find that the approach is drastically different in that both the Koreans and the Japanese have long realized the importance of bringing in foreign talent and developing it. For example, Samsung is now substituting many of its country and regional managers and C-level executives overseas with non-Koreans. They even have a special Samsung Global Strategy Group designed for the purpose of developing such top-level talent within the company.
For the Chinese nationals who are doing their MBA’s at the top American schools now and are looking to go back to China, the situation is different, but most of the people I know are targeting multinationals anyways. Working for a Western company is generally more rewarding, they say. It just so happens that the work environment, career prospects and remuneration are still better there.
While I have no doubt that the time will come when this will no longer be true in China because the leadership of most successful and truly global Chinese companies already accepts the fact that “in a world with just one time zone–’now’–business must source materials, innovation, talent, logistics, infrastructure and production wherever they are best available’ (Yang Yuanqing, Lenovo). Right now the multinationals seem to be winning the battle for available MBA talent.
Next post
I am a career switcher so I will talk about switching from applied linguistics and education to consulting. Tough one!