East-West Contest for Asian Finance Students
While no Asian schools featured in the inaugural masters in finance rankings in 2011, six now occupy seven places in this year’s Financial Times Master’s in Finance Pre-experience ranking table. Prof. Joseph Cheng shared with Financial Times that “more Chinese students are willing to go back to mainland China because the economy is getting better.” He also said that CUHK MSc Programme in Finance is introducing elective courses tailored to local need, such as the characteristics of Chinese equity markets.
Asians account for two-thirds of newly enrolled students at schools in Financial Times’ 2018 pre-experience masters in management ranking. Meanwhile, U.S. and European schools are acutely aware of the rapid rise of competitors in China, Hong Kong, Singapore, South Korea and India.
While no Asian schools featured in Financial Times’ inaugural masters in finance rankings in 2011, six now occupy seven places in this year’s Financial Times Masters in Finance Pre-experience ranking table. Much of this rise is because of the growth and development of the Chinese and other Asian economies. Many Chinese students going abroad now want to come back to China because of opportunities or for family reasons. Over the past 10 years in China there has been huge and fast growing demand for students in finance.
Because of a shortage of talent, financial sector pay in China is growing at about 8 per cent a year for junior and mid-level positions, according to the recruitment company Morgan McKinley.
In an interview with Financial Times, Joseph Cheng, Chairman and Associate Professor of Department of Finance, and Director of MSc Programme in Finance (Full Time) at The Chinese University of Hong Kong (CUHK) Business School, notes a similar trend. “Only a couple of years ago…three months after graduation, 80 per cent of our students were staying in Hong Kong, with 20 per cent moving back to mainland China. Now, that trend is reversing. More Chinese students are willing to go back to mainland China because the economy is getting better. The pay may be lower…but our graduates can see good prospects.”
Prof. Cheng says that core course content is similar in Asia to that elsewhere, but that [CUHK Business School] is introducing elective courses tailored to local need, such as the characteristics of Chinese equity markets… Read More (PDF)
Please also click the image below to read the story published in Financial Times’ print newspaper on 18 June, 2018.
This article was also translated into Chinese and published in the Financial Times Chinese channel on 10 July 2018. Please click here (PDFs in simplified and traditional Chinese) to read the story.
Source: Financial Times
Date published: 17 June 2018 (Online) / 18 June 2018 (Print) / 10 July 2018 (Chinese)
Photo: AFP