Where Should Returned Overseas Students Go in Terms of Employment in the Face of the Pandemic?

The COVID-19 pandemic has spread from its outbreak, to being gradually contained in China, and then to spreading globally. It seems that the day when normal life resumes is nowhere in sight. Affected by the pandemic and major power conflicts, the global economy has entered a downward cycle, and employment both at home and abroad has indeed been greatly affected.

However, think about it from another perspective. Isn't this period also a good time for self-improvement and preparing for job hunting?

Is it an opportunity or a crisis? It depends on whether you have a clear plan for your career goals.

Are you confident or insecure? It depends on whether you have a perfect resume and rich internship experience.

1. Let's First Understand the Latest Employment Trends for Returned Overseas Students

What are the industries that are most favorable for returned overseas students to find employment, offer the best salary and benefits, and have the greatest development potential after returning to China?

Corporate Finance

It mainly examines how companies can effectively utilize various financing channels to obtain the lowest-cost sources of funds and form an appropriate capital structure. Those engaged in corporate finance and serving as supervisors can earn an annual salary of up to about RMB 2 million. Among them, the well-known Citibank ranks first. Other companies such as PwC, one of the four major accounting firms, and Google, a globally renowned Internet company, also offer high salaries for this position.

For practitioners with 0 - 1 year of experience in corporate finance, the average annual salary is about RMB 420,000; for those with 1 - 3 years of experience, the average annual salary is about RMB 450,000.

Investment Banking and Securities

It mainly involves work in areas such as IBD (Investment Banking Division), Sales & Trading, and Research in investment banks. The starting salary range offered by top foreign investment banks like Goldman Sachs and Morgan Stanley is between RMB 300,000 and RMB 700,000.

For joint venture enterprises such as UBS Securities, the salary ranges from RMB 225,000 to RMB 300,000.

Top domestic securities firms like CICC (China International Capital Corporation), CITIC Securities, and Guosen Securities also offer high salaries of RMB 150,000 - RMB 450,000 to retain talents.

Fund and Stock

Futures traders are those who operate assets for others. The average salary across the country has reached RMB 17,500 per month.

Securities analysts need to independently complete the analysis of the securities market and write research reports; they also need to provide some suggestions to fund managers regarding the proportion, types, and structure of holdings. In addition, securities analysts are also responsible for interpreting macroeconomic conditions and relevant policies. The salary income of securities analysts is relatively high, and the fluctuations are also relatively large. The average monthly salary of securities analysts can reach RMB 11,000.

Traditional Banks

Positions such as bank management trainees have salaries ranging from RMB 250,000 to RMB 500,000. In the first half of 2019, the per capita salary of 20 listed banks increased, with the per capita salary of 12 banks increasing by more than 10% year-on-year, and the per capita salary of 5 banks increasing by more than 15% year-on-year! Among them, Ping An Bank and China Merchants Bank ranked first and second on the list, with a per capita annual salary of over RMB 310,000!

The top 10 highest-paying positions in banks all have an average monthly salary of over RMB 12,000. The salary for the trade finance position has risen to RMB 18,400, and the investment banking position, which attracts many returned overseas students from prestigious universities, has also exceeded RMB 16,000.

Big Four Accounting Firms

They are mainly engaged in auditing, consulting and other businesses. The salary of SA1 newly recruited by Ernst & Young, one of the Big Four accounting firms, in 2017 was RMB 8,250 per month! The salary levels of other firms, according to the salary levels exposed in 2016, are RMB 7,200 per month. This is the salary level when you first join as a freshman, and it has been increasing every year. According to analysis, you will get a salary increase of about RMB 2,500 for each year you work at the Big Four accounting firms.

The development prospects and room for personal growth in the Big Four accounting firms cannot be ignored. The Big Four will be a great springboard for your future job-hopping.

Consulting

It is mainly engaged in consulting in areas such as strategy, operations, information systems, and enterprise management. The annual salary generally ranges between RMB 150,000 and RMB 200,000, with not much difference among different firms. There is an annual increase of 30% - 50%.

2. Next, Let's Understand the Screening Criteria of Some Large Companies for Fresh Graduates and the Abilities They Value

Outstanding Internship Experience and Logical Thinking Ability

After being hired, fresh graduates generally start from junior positions, such as written information collection, collation, and analysis. The workload and work pressure are quite considerable. Without meticulous thinking ability and the ability to quickly collect and analyze information, it is difficult to adapt.

If you have outstanding internship experience before joining and maintain this ability, you will be able to easily cope with fierce competition.

Excellent Academic Performance

Excellent academic performance can illustrate three things:

1) Attention to details (because careless people rarely get high scores).

2) Quick learning ability (while it's true that you can get high scores by cramming at the last minute, it mostly depends on deeply understanding a course in a short period).

3) Whether you are serious about your role (if you don't study hard as a student, how can we expect you to take your job seriously when working?).

Qualities

Your words and deeds should reflect the main qualities valued by investment banks: attention to details, quick learning ability, analytical skills, multi-tasking ability, and communication skills.

Abilities

Strong interpersonal communication and leadership abilities. Mr. Zhu Jia, the CEO of Morgan Stanley China, once vividly said, "We hope that everyone can do both 'square' things and 'round' things." You can highlight this through the leadership positions you held in school clubs or the student union, such as being the president of the student union.

Good Basic Literacy and Professional Knowledge

First of all, excellent academic performance is a must. At the same time, you can state some financial analysis tools, certain theories, or methods you have mastered in your skills section to emphasize your professionalism.

Abundant Creative Passion and Working Ability

Finance is an intellectual industry. As Mr. Zhu Jia said, "As a service industry, there are no sophisticated technologies and machines. But to stand out from other companies and win in the competition, the biggest advantage is talent!"

Financial business can sometimes be very complex, and no one may have tried it before. This requires team members to have sufficient creativity and imagination.

Full Success Belief and Winning Courage

The financial industry is full of challenges. During the fierce and long competition process, you must always maintain a high fighting spirit, sufficient confidence, and the courage to face difficulties. In fact, before formally entering any internationally renowned financial institution, the cumbersome written application process, written tests, interviews, and other activities have already screened out those who are unrealistic and impetuous.

Both Global Vision and Practical Spirit

The financial industry does not need daydreamers who talk big. Being down-to-earth is the essence that must be maintained at any stage. For those who are new to top financial institutions, the starting point of work is very low, even for MBA graduates. But for a career person with plans for the future, the starting point is a good opportunity to learn. Conversations with colleagues and discussions with clients are not trivial matters. You should gradually figure out what you need to do and have an overall consideration and grasp in your work.

English Proficiency

Investment banks have high requirements for English, especially foreign investment banks. The assessment of English runs through the entire recruitment process: resume (written in English), written test (all-English or semi-Chinese and semi-English problem-solving), interview (oral English), etc.

Word Choice

Replace words like "cultivated", "improved", and "exercised" with "demonstrated" and "highlighted", because investment banks value the added value you bring to an event/activity rather than your personal gains.

Ordering

Arrange the sequence of events according to their importance, not in chronological order. This conforms to the principle of resume writing: highlighting your core competitiveness and making people remember you at a glance when they scan your resume, rather than narrating history like a chronicle.

In the current situation, the number of positions will surely decrease compared with the same period. But don't give up looking. Maybe after listening to Blossom's online lecture, you'll find that the job suitable for you is just around the corner.

Blossom will jointly launch a free public welfare lecture with the Italian Student Union.

It will focus on three aspects: the importance and methods of career planning, resume writing skills, and internship opportunity recommendations to answer your questions and help returned overseas students find employment in China.

Blossom also offers benefits.

There are three free resume modification and career planning service quotas offered by the Italian Student Union.

Scan the QR code below to choose from a large number of internships. The BLOSSOM Harvest Plan is waiting for you!