Dear Charles
How is it there? It was a shock to all of us when we got the news that you had left us. We didn't really talk much, but I'll remember you for several things: that we played poker together, we did the business case competition and that you were always talking about tomorrow and getting a job and hoping for the best.
You would have turned a year older next week, and graduated in a month's time too. And for sure, I know you would have gotten the job that you were looking for. I wish I had gone to the Great Leap Brewery if anything, just to say hi one last time to you.
We're all very much in a state of shock now, but I guess life will go on, life HAS to go on. You will live in our memories as our class representative. And in mine as the guy who carried a Crumpler bag everywhere.
Where ever you are, I hope you are doing well. Flop your monster hands my friend and take it down.
Bye
ChampionFishball
Showing posts with label MBA. Show all posts
Showing posts with label MBA. Show all posts
Sunday, May 27, 2012
Friday, May 11, 2012
Things I learnt
Over the past two years, I did learn a quite a bit - though mainly non-academic, and some, perhaps not really meaningful. But as I sit here and reflect on what I did over the past 2 years, I thought I would jot some things down. As I am likely to leave Beijing, and China to pursue my career, I feel a tinge of sadness, after all, Beijing has been a very enjoyable place to stay.
1. Forget that you're a foreigner - A lot of foreigners come here with a mindset that they are foreign and thus, should be treated in a "special" manner by the locals, or sometimes, they think that they are superior to the Chinese as China is still very much a developing country. If anything, that mindset would prevent you from truly being able to assimilate and adapt to the culture. It can be as simple as trying new food, or making friends, where you expect people to say/act in a certain way. That doesn't really work - come here with no expectations of how people will treat you.
2. Carry a pack of tissue with you - you really never know when you will use this. I would go into details, but let's not get too graphic or disgusting.
3. Looks and money get the girls - if you're planning to get laid, and get laid a lot, you had better either have the cash to flash or have muscles. Do take time to spend in the gym and eat sensibly, of the people I've noticed, if you're of Chinese heritage and you're tall and have muscles, it is much much easier for you to get some. There are some things that you'll never be able to change (black/blond hair, blue/black eyes, etc) but you can change whether you're in shape or not. In fact, if you're a Causasian and you're in good shape, you'll get it on even more.
However, Chinese girls are not necessarily whores. They're not all willing to jump into bed with you. Do respect them, if you want a quick lay, look for one willing to give you a quick lay, if she's not interested, move on. Don't assume that she wants to get freaky with you just because.... (I think this is applicable anywhere in the world)
4. Make good local friends - get to know a local friend, at least one very well. He/She will give you an opportunity to really explore Beijing from their perspective. As I've said before, the foreigner's Beijing and the local's Beijing can differ vastly. Also, it's an excellent way to pick up the language, if you have language partners, try to avoid sleeping with them - that messes things up and skews the relationship.
5. There's only so much clubbing that you can do - your money is better spent on traveling around Beijing and the rest of China. If anything, at least hit the major cities (including the tourist places). After a while, stumbling back at 4am after two bottles of Grey Goose gets pretty boring.
6. Don't whine about China - if you're frustrated and you feel yourself beginning to hate China, go somewhere else. Don't stay in China and be frustrated and tell people you hate it but you don't want to leave, that just doesn't make sense. Yes, admittedly China can be frustrating, but be adaptable and move along with the program.
7. Get a smart phone - whether an iPhone or Android, get one, nothing less (I don't know about Windows Mobile though, but most applications here are for either of the former operating systems). They have them really cheap here (RMB1,000 for a Xiaomi) so pick one up if you don't have one. If you don't have a smart phone, you're going to miss out on a lot of opportunities to connect and communicate with people here.
MBA Program
Don't expect anything, don't expect anything out of the academics, and don't expect anything for your career. Do your research and build your own networks. People you meet will tend to assume two things about you;
1. That you can speak Chinese
2. That you understand how to business in China
And the only way you're going to be able to do both of that is to immerse yourself thoroughly in China and experience it and work hard.
-----
Sy & Technikore - Where were you
1. Forget that you're a foreigner - A lot of foreigners come here with a mindset that they are foreign and thus, should be treated in a "special" manner by the locals, or sometimes, they think that they are superior to the Chinese as China is still very much a developing country. If anything, that mindset would prevent you from truly being able to assimilate and adapt to the culture. It can be as simple as trying new food, or making friends, where you expect people to say/act in a certain way. That doesn't really work - come here with no expectations of how people will treat you.
2. Carry a pack of tissue with you - you really never know when you will use this. I would go into details, but let's not get too graphic or disgusting.
3. Looks and money get the girls - if you're planning to get laid, and get laid a lot, you had better either have the cash to flash or have muscles. Do take time to spend in the gym and eat sensibly, of the people I've noticed, if you're of Chinese heritage and you're tall and have muscles, it is much much easier for you to get some. There are some things that you'll never be able to change (black/blond hair, blue/black eyes, etc) but you can change whether you're in shape or not. In fact, if you're a Causasian and you're in good shape, you'll get it on even more.
However, Chinese girls are not necessarily whores. They're not all willing to jump into bed with you. Do respect them, if you want a quick lay, look for one willing to give you a quick lay, if she's not interested, move on. Don't assume that she wants to get freaky with you just because.... (I think this is applicable anywhere in the world)
4. Make good local friends - get to know a local friend, at least one very well. He/She will give you an opportunity to really explore Beijing from their perspective. As I've said before, the foreigner's Beijing and the local's Beijing can differ vastly. Also, it's an excellent way to pick up the language, if you have language partners, try to avoid sleeping with them - that messes things up and skews the relationship.
5. There's only so much clubbing that you can do - your money is better spent on traveling around Beijing and the rest of China. If anything, at least hit the major cities (including the tourist places). After a while, stumbling back at 4am after two bottles of Grey Goose gets pretty boring.
6. Don't whine about China - if you're frustrated and you feel yourself beginning to hate China, go somewhere else. Don't stay in China and be frustrated and tell people you hate it but you don't want to leave, that just doesn't make sense. Yes, admittedly China can be frustrating, but be adaptable and move along with the program.
7. Get a smart phone - whether an iPhone or Android, get one, nothing less (I don't know about Windows Mobile though, but most applications here are for either of the former operating systems). They have them really cheap here (RMB1,000 for a Xiaomi) so pick one up if you don't have one. If you don't have a smart phone, you're going to miss out on a lot of opportunities to connect and communicate with people here.
MBA Program
Don't expect anything, don't expect anything out of the academics, and don't expect anything for your career. Do your research and build your own networks. People you meet will tend to assume two things about you;
1. That you can speak Chinese
2. That you understand how to business in China
And the only way you're going to be able to do both of that is to immerse yourself thoroughly in China and experience it and work hard.
-----
Sy & Technikore - Where were you
Friday, May 4, 2012
What now?
What now is exactly on my mind. If you come to Tsinghua SEM, you'll finished writing your thesis somewhere end-April, polish it up and it's due by the second week of May. Other than that, you don't really have much to do aside from looking for jobs. But if you start looking for jobs now, it's a little bit too late - most of the decent jobs have been pretty much taken and you are stuck looking for jobs that trickle through the Career Development Center (CDC).
If you're not too picky, a good place to start is on LinkedIn. Start applying for jobs through LinkedIn, I know classmates who seem to have had a pretty good hit rate on that; at least they're getting called for the first round interviews. But of course, some of the jobs seem pretty mediocre. I would seriously advise you to start looking for jobs sometime in August of your second year - at least prepare your cover letters and resumes and start networking. You can never start too early on that.
The other option is to look at NON-MBA jobs, such as jobs with IBM, P&G, and all the larger companies. You won't be able to join their specialized MBA programs/management programs, but you'll at least have some job of sorts. You won't earn a lot and you may not have the similar opportunities you would have had if you were on their programs. But that's a solid option to have.
So, what else is there to do? Well, you could explore Beijing especially if you like to take photos. Slightly before this time, it's a good 2 weeks of spring, where the weather is cool and not too hot, so go to places like 798, Nanlouguxiang or even Tianjin. Go with a partner, preferably one of the opposite sex, it's a lot more fun that way.
If you want to go to gym, there are 2 gyms located in Wudaokou, one at TUS Park and one at Lotus Center (I think it's Nirvana). Nirvana is the most expensive one and not as nice as the one at TUS Park. I think there's another gym at Wenjin International Hotel, but I'm not too sure about that. Choose TUS Park's gym at B1, it's pretty cheap and good. If you have decided to stay in Liudaokou, there's a Chinese gym at Jinma Dasha, where the Starbucks is. It's not too pricey and gets the job done.
If you like pool, there are several pool centers (I didn't know that they were pretty hard to find until I tried looking for them). The first one is around the corner from Ten Year Cafe. Walk from Ten Years Cafe towards Wudaokou in the small alley and on your left will be a hotel, the road will also split left at the hotel. Just walk down the left road until you come to a large building (it's literally 1 minute from the hotel, so it isn't that far). That's the first place, the second place is at thw Wudaokou Hotel (I think that's what it's called), where the cinema is (opposite Hualian). Next to the ICBC ATM's is the entrance, just go down to B1 again - this one is pretty nice, decent tables and cues, except it's way pricey, I think it's about RMB50 per hour. If you want to play 4-ball or Korean pool, there's one on the left side of the cinema called Dama Billards in the little alley (you have to enter a staircase and walk up 3 flights of stairs).
Alternatively, if you fancy playing computer games, just go to B1 of Huaqing, at the entrance next to the McDonald's in Wudaokou.
Come to think about it, there really isn't much to do in Wudakou.... you can always go to Propaganda/Solutions to pick up girls/boys. Any night will be a good night, just don't get drunk there, the dodgy alcohol they serve will make you sick, literally.
-----
Jaime said
"Thanks! I already read that book, it was really fun and interesting. Actually IB was not my first choice either. But, right now the construction industry situation is not that good, and I have experienced myself how architects are exploited for a misserable pay, so I thought that if I had to work that much I would better be payed well. Appart from these, I believe working in IB would be very challenging and would help me learn about how business are done. Sadly I don't really know how to break in... "
Hi Jaime... (thanks for being such a consistent reader, we should have coffee one day :) )
Well, truth be told, most jobs are somewhat horrible. To be honest though, I have rarely, if never, heard about architects going into investment banking. By and large, most non-finance people who go into finance tend to be engineers, physics, science etc. I may be wrong, but investment banking usually doesn't focus on hiring architects. If I'm not wrong, you once mentioned you're a PhD? I think it might be easier for you to transition into consulting instead of investment banking.
I know that you would like to be compensated as much as possible for your work done, we all do :) not that I'm trying to discourage you from going into investment banking, but you should consider other options and widen your focus a little bit.
1. The higher paying jobs are front office - sales, business development, client management - and not operational jobs. You need to keep this in mind when applying for jobs, while operations is a critical part of any business' success, operational people not only do not get paid that well, but also tend to have less recognition and career opportunities. Good operations people are hard to find, but employers tend to think that they are easily replaceable (perhaps when compared to a star busines developer/sales person etc)
2. Money can be made in any job, especially in niched industries - commodities, specialized manufacturing - you make more money when you're specialized in something and not just a generalist. However, having said that, it's interesting to note that the specialist that becomes a generalist makes even MORE money because they have technical skill (which is valuable) and are able to work across different roles (which is important), allowing them to transition to senior management.
3. Challenge has to be met by passion. If you want a challenging job, you need to be passionate about it, or you will never be able to take the stress, the challenges or even the hours that you need to put into it. While money is a strong motivator and people work for years in finance, most people in investment banking tend to move out after a couple of years, some go back to school, or go into a specialized finance job (PE/VF/HF is they're very good). Unless you're passionate about making money for the sake of money, you will be hard pressed to survive in any environment just because you want to make money.
To clarify, there is a difference between making money and making money for the sake of money. One wants to make money for material gain, the other just loves to make money for the fun of it.
4. The best way to learn how business is done is by doing a business, or working in a business where you are involved with the business. Not by doing an MBA or by working in an investment bank or by being a consultant. While you do learn about business in those three mentioned ways, you will only be able to see very focused areas, or have a very shallow exposure to actual business.
I would suggest (I might be wrong here), but if you wanted to learn about business, this is the route that you might consider doing. Given that you don't have a background in business, and you do need to learn the basics, consider the following.
i) Work in a commercial bank with their commercial loans department. Here, you will learn about the cash flow of the business and what goes in and out, more importantly you will have the opportunity to speak with 100s of CEOs and Finance managers about their financial requirements.
ii) I'm sure you've done this, but start reading blogs on entrepreneurship and business. There are plenty of them, do a quick search and subscribe to them. They will offer insight into different parts of business, sometimes, a very in-depth view as well.
iii) Do a business :)
-----
Clazzi - Love & Hate (Korean)
I'm told it sounds very 80's... but I think it's very nice.
On that note, you should watch the original Korean version of "My Sassy Girl".
If you're not too picky, a good place to start is on LinkedIn. Start applying for jobs through LinkedIn, I know classmates who seem to have had a pretty good hit rate on that; at least they're getting called for the first round interviews. But of course, some of the jobs seem pretty mediocre. I would seriously advise you to start looking for jobs sometime in August of your second year - at least prepare your cover letters and resumes and start networking. You can never start too early on that.
The other option is to look at NON-MBA jobs, such as jobs with IBM, P&G, and all the larger companies. You won't be able to join their specialized MBA programs/management programs, but you'll at least have some job of sorts. You won't earn a lot and you may not have the similar opportunities you would have had if you were on their programs. But that's a solid option to have.
So, what else is there to do? Well, you could explore Beijing especially if you like to take photos. Slightly before this time, it's a good 2 weeks of spring, where the weather is cool and not too hot, so go to places like 798, Nanlouguxiang or even Tianjin. Go with a partner, preferably one of the opposite sex, it's a lot more fun that way.
If you want to go to gym, there are 2 gyms located in Wudaokou, one at TUS Park and one at Lotus Center (I think it's Nirvana). Nirvana is the most expensive one and not as nice as the one at TUS Park. I think there's another gym at Wenjin International Hotel, but I'm not too sure about that. Choose TUS Park's gym at B1, it's pretty cheap and good. If you have decided to stay in Liudaokou, there's a Chinese gym at Jinma Dasha, where the Starbucks is. It's not too pricey and gets the job done.
If you like pool, there are several pool centers (I didn't know that they were pretty hard to find until I tried looking for them). The first one is around the corner from Ten Year Cafe. Walk from Ten Years Cafe towards Wudaokou in the small alley and on your left will be a hotel, the road will also split left at the hotel. Just walk down the left road until you come to a large building (it's literally 1 minute from the hotel, so it isn't that far). That's the first place, the second place is at thw Wudaokou Hotel (I think that's what it's called), where the cinema is (opposite Hualian). Next to the ICBC ATM's is the entrance, just go down to B1 again - this one is pretty nice, decent tables and cues, except it's way pricey, I think it's about RMB50 per hour. If you want to play 4-ball or Korean pool, there's one on the left side of the cinema called Dama Billards in the little alley (you have to enter a staircase and walk up 3 flights of stairs).
Alternatively, if you fancy playing computer games, just go to B1 of Huaqing, at the entrance next to the McDonald's in Wudaokou.
Come to think about it, there really isn't much to do in Wudakou.... you can always go to Propaganda/Solutions to pick up girls/boys. Any night will be a good night, just don't get drunk there, the dodgy alcohol they serve will make you sick, literally.
-----
Jaime said
"Thanks! I already read that book, it was really fun and interesting. Actually IB was not my first choice either. But, right now the construction industry situation is not that good, and I have experienced myself how architects are exploited for a misserable pay, so I thought that if I had to work that much I would better be payed well. Appart from these, I believe working in IB would be very challenging and would help me learn about how business are done. Sadly I don't really know how to break in... "
Hi Jaime... (thanks for being such a consistent reader, we should have coffee one day :) )
Well, truth be told, most jobs are somewhat horrible. To be honest though, I have rarely, if never, heard about architects going into investment banking. By and large, most non-finance people who go into finance tend to be engineers, physics, science etc. I may be wrong, but investment banking usually doesn't focus on hiring architects. If I'm not wrong, you once mentioned you're a PhD? I think it might be easier for you to transition into consulting instead of investment banking.
I know that you would like to be compensated as much as possible for your work done, we all do :) not that I'm trying to discourage you from going into investment banking, but you should consider other options and widen your focus a little bit.
1. The higher paying jobs are front office - sales, business development, client management - and not operational jobs. You need to keep this in mind when applying for jobs, while operations is a critical part of any business' success, operational people not only do not get paid that well, but also tend to have less recognition and career opportunities. Good operations people are hard to find, but employers tend to think that they are easily replaceable (perhaps when compared to a star busines developer/sales person etc)
2. Money can be made in any job, especially in niched industries - commodities, specialized manufacturing - you make more money when you're specialized in something and not just a generalist. However, having said that, it's interesting to note that the specialist that becomes a generalist makes even MORE money because they have technical skill (which is valuable) and are able to work across different roles (which is important), allowing them to transition to senior management.
3. Challenge has to be met by passion. If you want a challenging job, you need to be passionate about it, or you will never be able to take the stress, the challenges or even the hours that you need to put into it. While money is a strong motivator and people work for years in finance, most people in investment banking tend to move out after a couple of years, some go back to school, or go into a specialized finance job (PE/VF/HF is they're very good). Unless you're passionate about making money for the sake of money, you will be hard pressed to survive in any environment just because you want to make money.
To clarify, there is a difference between making money and making money for the sake of money. One wants to make money for material gain, the other just loves to make money for the fun of it.
4. The best way to learn how business is done is by doing a business, or working in a business where you are involved with the business. Not by doing an MBA or by working in an investment bank or by being a consultant. While you do learn about business in those three mentioned ways, you will only be able to see very focused areas, or have a very shallow exposure to actual business.
I would suggest (I might be wrong here), but if you wanted to learn about business, this is the route that you might consider doing. Given that you don't have a background in business, and you do need to learn the basics, consider the following.
i) Work in a commercial bank with their commercial loans department. Here, you will learn about the cash flow of the business and what goes in and out, more importantly you will have the opportunity to speak with 100s of CEOs and Finance managers about their financial requirements.
ii) I'm sure you've done this, but start reading blogs on entrepreneurship and business. There are plenty of them, do a quick search and subscribe to them. They will offer insight into different parts of business, sometimes, a very in-depth view as well.
iii) Do a business :)
-----
Clazzi - Love & Hate (Korean)
I'm told it sounds very 80's... but I think it's very nice.
On that note, you should watch the original Korean version of "My Sassy Girl".
Thursday, March 8, 2012
Starting something?
Most MBA schools market themselves as a breeding ground for entrepreneurs. But in reality, it usually isn't like that. If you were to look at the numbers of people who went into Finance or Consulting or Marketing after an MBA you'll see that maybe only 2% to 4% of the students actually started something. So why do schools talk about entrepreneurship so much?
Well, I personally think schools talk about entrepreneurship because they don't want to be seen as a school that puts people in to a 9-to-5 job only. It does sound good when they're able to say "hey, student X is an entrepreneur and he just IPOed his company this year". They're selling the dream that you can be your own boss and run your own show. Don't fall for that.
Entrepreneurship is an important skill or drive or possibly talent to have. But the school can sit you down and talk about entrepreneurship until it comes out of your ears and you still will think that going to Goldman Sachs is a better option than starting something on your own. The usual line that I hear is that "if you were a real entrepreneur, you would have taken your money and time and started something instead of attending school". How true is that? It's pretty true to a certain extent.
Sometimes, people go to business school because even though they're entrepreneurs (in their heart), they are looking for ideas or a partner to start something. Entrepreneurship as a module is pretty much nonsense. It's actually the entire MBA program (or at least the core parts of an MBA program) that teach a person how to be an entrepreneur - you won't learn how to be an entrepreneur just by taking a module called "Entrepreneurship".
What the schools don't teach you is that starting something on your own is hard work, full of rejection and probably failure. If anything, perhaps they should start doing that in the Entrepreneurship classes, but nobody really wants to talk about the downside of graduating with debt and then starting their own business.
Anyway, I just thought I wanted to tell you guys, if you think coming to business school will make you an entrepreneur, you might find that thinking very wrong. You will learn skills that are important to an entrepreneur, you might meet people that excite you and make you want to start something - but if you are unwilling or have never been willing to put the money down on the line, you will not become an entrepreneur magically.
-----
theloneranger
I just wanted you to let you know that my application for Tsinghua IMBA has been rejected
:-/
-
Hey, I'm really sorry to hear that. But you shouldn't give up hope - there are other schools that would be willing to take you, and some might be even better than Tsinghua. Applying to business school is very much a crapshoot sometimes, you need a little bit of luck.
The few things that you can control are your application essays and your GMAT. You can't really control your past work experiences. I do think though, that if you really feel that Tsinghua SEM is the best school for you, then you should try applying again. If you want some help on the essays again, let me know and I would be happy to read over them for you.
-----
Alex
Thanks for shining a light on the Tsinghua student budget - the indicative numbers are very helpful. I've just been admitted to the MBA starting September, and would be keen to link up for a drink after arriving in Beijing. Have you an email I can contact you on? Cheers, Alex.
-
Hi Alex
Congratulations for being admitted. I hope that this blog allows you to come to Tsinghua University with your eyes wide open knowing what you should expect and get out of the program.
Truth be told, I'm not sure where I will be after this coming June. I'm currently looking at my
options and haven't made a decision on what to do or where to go. But we can arrange to meet up during September if I'm still around!
But feel free to ask me more questions if I haven't really covered anything in this blog and I'll try to answer it the best I can.
-----
Brisk & Fade - Stay here forever
This is a real classic that I came across again recently. It definitely brings back memories...
Well, I personally think schools talk about entrepreneurship because they don't want to be seen as a school that puts people in to a 9-to-5 job only. It does sound good when they're able to say "hey, student X is an entrepreneur and he just IPOed his company this year". They're selling the dream that you can be your own boss and run your own show. Don't fall for that.
Entrepreneurship is an important skill or drive or possibly talent to have. But the school can sit you down and talk about entrepreneurship until it comes out of your ears and you still will think that going to Goldman Sachs is a better option than starting something on your own. The usual line that I hear is that "if you were a real entrepreneur, you would have taken your money and time and started something instead of attending school". How true is that? It's pretty true to a certain extent.
Sometimes, people go to business school because even though they're entrepreneurs (in their heart), they are looking for ideas or a partner to start something. Entrepreneurship as a module is pretty much nonsense. It's actually the entire MBA program (or at least the core parts of an MBA program) that teach a person how to be an entrepreneur - you won't learn how to be an entrepreneur just by taking a module called "Entrepreneurship".
What the schools don't teach you is that starting something on your own is hard work, full of rejection and probably failure. If anything, perhaps they should start doing that in the Entrepreneurship classes, but nobody really wants to talk about the downside of graduating with debt and then starting their own business.
Anyway, I just thought I wanted to tell you guys, if you think coming to business school will make you an entrepreneur, you might find that thinking very wrong. You will learn skills that are important to an entrepreneur, you might meet people that excite you and make you want to start something - but if you are unwilling or have never been willing to put the money down on the line, you will not become an entrepreneur magically.
-----
theloneranger
I just wanted you to let you know that my application for Tsinghua IMBA has been rejected
:-/
-
Hey, I'm really sorry to hear that. But you shouldn't give up hope - there are other schools that would be willing to take you, and some might be even better than Tsinghua. Applying to business school is very much a crapshoot sometimes, you need a little bit of luck.
The few things that you can control are your application essays and your GMAT. You can't really control your past work experiences. I do think though, that if you really feel that Tsinghua SEM is the best school for you, then you should try applying again. If you want some help on the essays again, let me know and I would be happy to read over them for you.
-----
Alex
Thanks for shining a light on the Tsinghua student budget - the indicative numbers are very helpful. I've just been admitted to the MBA starting September, and would be keen to link up for a drink after arriving in Beijing. Have you an email I can contact you on? Cheers, Alex.
-
Hi Alex
Congratulations for being admitted. I hope that this blog allows you to come to Tsinghua University with your eyes wide open knowing what you should expect and get out of the program.
Truth be told, I'm not sure where I will be after this coming June. I'm currently looking at my
options and haven't made a decision on what to do or where to go. But we can arrange to meet up during September if I'm still around!
But feel free to ask me more questions if I haven't really covered anything in this blog and I'll try to answer it the best I can.
-----
Brisk & Fade - Stay here forever
This is a real classic that I came across again recently. It definitely brings back memories...
Sunday, February 19, 2012
Odds and ends, student budget
For some reason, I decided to commit myself to a part-time internship that requires me to be in the office 2 or 3 times a week. On top of that, I've got a class that needs attending and my thesis to write.
The interesting thing about MBAs, or rather any masters programme in China is that a thesis is required for you to pass and receive certification from the education ministry (or something like that). It is possible NOT to do the thesis and still receive the certificate from the school although you don't have the ministry certification (which isn't a bad thing, especially if you're going back to the home country), after all, a Chinese ministry certification doesn't really carry that much weight in other countries. I am very tempted to do this although I'm a third of my way through writing the thesis.
On top of that, you do need to submit 10 reports for additional seminars and presentations that were non-class related that you attended over the 2 years. The nice part is that some people would have done several reports and sent them out to everybody. How selfless and team oriented.
-----
I've been asked several times on how much you should budget for coming to Tsinghua University.
Well, it goes a little something like this
If you stay in the dorm, it's approximately RMB2500 a month - that doesn't cover Internet (at least last time, perhaps now it's in the package), and you only get hot water 3 times a day (I can't remember the times, but I think it's morning, afternoon and evening) for 2-3 hours per session.
If you stay off campus around Wudaokou/Liudaokou, it's about RMB3000 - RMB3500 for a room (shared apartment). A single room/studio will be about RMB4500 in Liudaokou, and about RMB6000 in Wudaokou (Huaqing). Huaqing sucks, but it's the most convenient. Or you can buy an electric bike and go up and down to Liudaokou.
Phone bills will range from rmb200 - 500, depending on your usage and how often you would like to call your boyfriend/girlfriend back home. You're better off getting used to Skype.
Food will cost you approximately RMB50 per meal if you want something decent, if you go to Sanlitun, it's approximately RMB100 - RMB200. If you decide to cook, meat can be expensive and foreign foods as well, so say about RMB300 - RMB500 per week if you're cooking.
Taxis are a burden, a trip to Sanlitun will cost about RMB50 one way. I would suggest that you take the subway down if you're by yourself and take the cab back if you're having a night out simply because the subway closes at about 10.30
So say you're staying off campus, spending about RMB80 a day on meals on weekdays, and RMB200 on meals on weekends, have a significant other that you call regularly, and go down to Sanlitun twice a week. That would give you about
RMB3500 + RMB 1760 + RMB1600 + RMB800 = RMB7660
Now, if you include going out for drinks and dating, you can expect to spend about RMB 300 - RMB 500 - RMB 800 per night out. So all in, that's about RMB10,000 a month all in. Which I think would allow you to live a pretty good life.
That's how much it costs to come to Tsinghua University SEM if you want to have fun.
-----
Avicii - Fade into Darkness (Albin Myers remix)
This seems to be the version that they play at clubs, or at least Spark.
Download it here
The interesting thing about MBAs, or rather any masters programme in China is that a thesis is required for you to pass and receive certification from the education ministry (or something like that). It is possible NOT to do the thesis and still receive the certificate from the school although you don't have the ministry certification (which isn't a bad thing, especially if you're going back to the home country), after all, a Chinese ministry certification doesn't really carry that much weight in other countries. I am very tempted to do this although I'm a third of my way through writing the thesis.
On top of that, you do need to submit 10 reports for additional seminars and presentations that were non-class related that you attended over the 2 years. The nice part is that some people would have done several reports and sent them out to everybody. How selfless and team oriented.
-----
I've been asked several times on how much you should budget for coming to Tsinghua University.
Well, it goes a little something like this
If you stay in the dorm, it's approximately RMB2500 a month - that doesn't cover Internet (at least last time, perhaps now it's in the package), and you only get hot water 3 times a day (I can't remember the times, but I think it's morning, afternoon and evening) for 2-3 hours per session.
If you stay off campus around Wudaokou/Liudaokou, it's about RMB3000 - RMB3500 for a room (shared apartment). A single room/studio will be about RMB4500 in Liudaokou, and about RMB6000 in Wudaokou (Huaqing). Huaqing sucks, but it's the most convenient. Or you can buy an electric bike and go up and down to Liudaokou.
Phone bills will range from rmb200 - 500, depending on your usage and how often you would like to call your boyfriend/girlfriend back home. You're better off getting used to Skype.
Food will cost you approximately RMB50 per meal if you want something decent, if you go to Sanlitun, it's approximately RMB100 - RMB200. If you decide to cook, meat can be expensive and foreign foods as well, so say about RMB300 - RMB500 per week if you're cooking.
Taxis are a burden, a trip to Sanlitun will cost about RMB50 one way. I would suggest that you take the subway down if you're by yourself and take the cab back if you're having a night out simply because the subway closes at about 10.30
So say you're staying off campus, spending about RMB80 a day on meals on weekdays, and RMB200 on meals on weekends, have a significant other that you call regularly, and go down to Sanlitun twice a week. That would give you about
RMB3500 + RMB 1760 + RMB1600 + RMB800 = RMB7660
Now, if you include going out for drinks and dating, you can expect to spend about RMB 300 - RMB 500 - RMB 800 per night out. So all in, that's about RMB10,000 a month all in. Which I think would allow you to live a pretty good life.
That's how much it costs to come to Tsinghua University SEM if you want to have fun.
-----
Avicii - Fade into Darkness (Albin Myers remix)
This seems to be the version that they play at clubs, or at least Spark.
Download it here
Saturday, January 28, 2012
Chicken soup for the soul
Aside from working on my thesis, I found I made a terrible mistake in my business plans - rendering the entire business un-doable. However, with enough amendments and pivoting, it can be adopted to a more realistic and achievable business.
Lessons I learnt:
1. If you're doing a business in China, for the Chinese - please get a local partner, or local friends who can advise you. It's very easy to assume what works abroad, or what sounds good to you (because of your mindset) would work in China. Sorry, it doesn't work like that; I learnt it the hard way.
2. LinkedIn is actually quite useful. Especially if you want to get connected - but like most networking, if you want to get introduced to someone, at least have a good relationship with the introducer. Not just a "Hi/Bye" relationship, but a relationship where you actually have had a meal with the person and talk to him on a regular basis.
3. Don't fall for the China is such a large market, 1% will be achievable and make me insanely rich. China has so many provinces, and each province is a market by itself. There are several provinces with roughly 100 million people each, it might be better and make more sense if you were just to target one province. Remember that Beijing alone has 19 million people (not including Tianjin which is another 12 million) putting in on par with small countries.
4. Communicate - which means, you need to be able to speak Chinese. And hopefully read and write. I'm at a huge disadvantage because I'm not extremely fluent in Chinese and reading/writing is hard for me. It really helps if you can find somebody who can help you understand what's going on. Get a good tutor, a good tutor isn't just somebody who can teach you the language well, but somebody who can teach you the culture as well and who you know as a person. Terribly important. Have a meal with your tutor. That helps.
5. Be flexible in your plans. I think I've learnt it's important to have a business idea/model that can be adapted easily if changes need to be made. For example, you would like to have a restaurant, and it's a hamburger restaurant. Be flexible enough that if you learn it doesn't work, you can pivot and change it and turn it into a hotdog stand, or a pizza parlor.
6. Have somebody with you. Not necessarily a girlfriend/boyfriend (you can't really trust them sometimes :P ) but a partner who you're able to bounce ideas with and discuss things. If anything, that person is sometimes able to provide you with a reality check on things. I think it works best if you're able to have somebody who has slightly different interests and a different area of focus. For example, you may be focused on the business aspect of things while your partner may be focused on operations and technology. It doesn't mean that you don't know operations and technology at all, but rather, it means that your partner pays extra attention to that area while you're able to think about the business.
-----
Theloneranger said
"Hi,
I came across your blog while looking for information for Tsinghua IMBA. I must that you put the B school into a different light than others (although to me it didnt seem negative).
I have actually applied for the class of 2014 and maybe i might get into it. so i thought i would tell u my plan. I want to study in tsinghua and then go for a dual degree (after the first year) or complete the MBA in tsinghua only and looks for jobs in Singapore and Malaysia. Do you think that looks possible? "
Hi!
TThanks for dropping by and reading. I'm glad you didn't think my blog doesn't put Tsinghua SEM's MBA program into too negative a light. I have other classmates who are more than happy to talk about the happy side of things, but I decided that I wanted to present a more realistic view - sort of to manage the expectations of people who read this blog and want to apply to the MBA program.
I do hope you get a chance to get admitted (if anything, it feels good to be admitted) and have the opportunity to discover Beijing the way I did. Just remember, that in China, a lot of what you think would be normal doesn't really apply here - quite a fair bit of things are exceptions simply because it's China.
Well, if you want to do a dual-degree then you're probably looking at HEC Paris? Or are you looking at the MIT Masters in Management? If you're looking at HEC Paris, then I think you would enjoy it, although I'm told that Paris is really expensive. Of the classmates that went there, one had a girlfriend in Paris and the other was a local Chinese who had always dreamt of going to Paris (he actually speaks fluent French as well). So I guess, perhaps you have your own reasons to doing it.
I do think that the job opportunities are better if you did the dual-degree. One of the classmates got into finance in London for an internship, so that's pretty good. Not bulge bracket, but a boutique, which might have a more relaxed pace.
Singapore is a pretty nice place to work and stay at, but you would need to earn between SGD6k to SGD8k to really be able to enjoy life there a little bit more. Things aren't cheap, and the weather is as bad as the weather in Malaysia - hot and humid. And it's really small :P but I like Singapore because, it's convenient and safe, and they have not one, but TWO casinos (although I'm told Resorts sucks and you're better off going to Marina Bay Sands).
As for Malaysia, it's the much poorer cousin of Singapore, rife with racism and corruption. I would only suggest going there if you are able to get an insanely good package, or you're from Malaysia and want to be near family. If not, they pay less than Singapore/Hong Kong, it's not safe and there is institutionalized racism that might affect your career.
It really depends on what kind of jobs you're looking at post-MBA. If you're looking for consulting or finance, or those really nice jobs, you would have to compete against graduates from INSEAD Singapore, as well as the whole bunch of Singaporeans that go to Harvard/Stanford/Wharton/Chicago/MIT/Kellogg and Columbia each year. So that might be tricky, but I think if you're looking for a "normal" job (something that isn't specifically an MBA position), it should be possible to get that.
Good luck, and let me know if you come to Tsinghua.
P/s Please, get a VPN from Astrill or Witopia before you come, especially if you would like to read blogs, Facebook and watch Youtube and read articles that put China in a bad light. :)
-----
Hitomi - Continued Story (Code Geass)
For a change, a non-hardcore song. But one of the nicest songs I've heard - although to fully appreciate it, you should watch the anime, Code Geass. :)
Lessons I learnt:
1. If you're doing a business in China, for the Chinese - please get a local partner, or local friends who can advise you. It's very easy to assume what works abroad, or what sounds good to you (because of your mindset) would work in China. Sorry, it doesn't work like that; I learnt it the hard way.
2. LinkedIn is actually quite useful. Especially if you want to get connected - but like most networking, if you want to get introduced to someone, at least have a good relationship with the introducer. Not just a "Hi/Bye" relationship, but a relationship where you actually have had a meal with the person and talk to him on a regular basis.
3. Don't fall for the China is such a large market, 1% will be achievable and make me insanely rich. China has so many provinces, and each province is a market by itself. There are several provinces with roughly 100 million people each, it might be better and make more sense if you were just to target one province. Remember that Beijing alone has 19 million people (not including Tianjin which is another 12 million) putting in on par with small countries.
4. Communicate - which means, you need to be able to speak Chinese. And hopefully read and write. I'm at a huge disadvantage because I'm not extremely fluent in Chinese and reading/writing is hard for me. It really helps if you can find somebody who can help you understand what's going on. Get a good tutor, a good tutor isn't just somebody who can teach you the language well, but somebody who can teach you the culture as well and who you know as a person. Terribly important. Have a meal with your tutor. That helps.
5. Be flexible in your plans. I think I've learnt it's important to have a business idea/model that can be adapted easily if changes need to be made. For example, you would like to have a restaurant, and it's a hamburger restaurant. Be flexible enough that if you learn it doesn't work, you can pivot and change it and turn it into a hotdog stand, or a pizza parlor.
6. Have somebody with you. Not necessarily a girlfriend/boyfriend (you can't really trust them sometimes :P ) but a partner who you're able to bounce ideas with and discuss things. If anything, that person is sometimes able to provide you with a reality check on things. I think it works best if you're able to have somebody who has slightly different interests and a different area of focus. For example, you may be focused on the business aspect of things while your partner may be focused on operations and technology. It doesn't mean that you don't know operations and technology at all, but rather, it means that your partner pays extra attention to that area while you're able to think about the business.
-----
Theloneranger said
"Hi,
I came across your blog while looking for information for Tsinghua IMBA. I must that you put the B school into a different light than others (although to me it didnt seem negative).
I have actually applied for the class of 2014 and maybe i might get into it. so i thought i would tell u my plan. I want to study in tsinghua and then go for a dual degree (after the first year) or complete the MBA in tsinghua only and looks for jobs in Singapore and Malaysia. Do you think that looks possible? "
Hi!
TThanks for dropping by and reading. I'm glad you didn't think my blog doesn't put Tsinghua SEM's MBA program into too negative a light. I have other classmates who are more than happy to talk about the happy side of things, but I decided that I wanted to present a more realistic view - sort of to manage the expectations of people who read this blog and want to apply to the MBA program.
I do hope you get a chance to get admitted (if anything, it feels good to be admitted) and have the opportunity to discover Beijing the way I did. Just remember, that in China, a lot of what you think would be normal doesn't really apply here - quite a fair bit of things are exceptions simply because it's China.
Well, if you want to do a dual-degree then you're probably looking at HEC Paris? Or are you looking at the MIT Masters in Management? If you're looking at HEC Paris, then I think you would enjoy it, although I'm told that Paris is really expensive. Of the classmates that went there, one had a girlfriend in Paris and the other was a local Chinese who had always dreamt of going to Paris (he actually speaks fluent French as well). So I guess, perhaps you have your own reasons to doing it.
I do think that the job opportunities are better if you did the dual-degree. One of the classmates got into finance in London for an internship, so that's pretty good. Not bulge bracket, but a boutique, which might have a more relaxed pace.
Singapore is a pretty nice place to work and stay at, but you would need to earn between SGD6k to SGD8k to really be able to enjoy life there a little bit more. Things aren't cheap, and the weather is as bad as the weather in Malaysia - hot and humid. And it's really small :P but I like Singapore because, it's convenient and safe, and they have not one, but TWO casinos (although I'm told Resorts sucks and you're better off going to Marina Bay Sands).
As for Malaysia, it's the much poorer cousin of Singapore, rife with racism and corruption. I would only suggest going there if you are able to get an insanely good package, or you're from Malaysia and want to be near family. If not, they pay less than Singapore/Hong Kong, it's not safe and there is institutionalized racism that might affect your career.
It really depends on what kind of jobs you're looking at post-MBA. If you're looking for consulting or finance, or those really nice jobs, you would have to compete against graduates from INSEAD Singapore, as well as the whole bunch of Singaporeans that go to Harvard/Stanford/Wharton/Chicago/MIT/Kellogg and Columbia each year. So that might be tricky, but I think if you're looking for a "normal" job (something that isn't specifically an MBA position), it should be possible to get that.
Good luck, and let me know if you come to Tsinghua.
P/s Please, get a VPN from Astrill or Witopia before you come, especially if you would like to read blogs, Facebook and watch Youtube and read articles that put China in a bad light. :)
-----
Hitomi - Continued Story (Code Geass)
For a change, a non-hardcore song. But one of the nicest songs I've heard - although to fully appreciate it, you should watch the anime, Code Geass. :)
Friday, January 27, 2012
Finance
Thanks for the quick response! I am actually a PhD student at the departmen of civil engineering. I just want to take some economic courses, to get some knowledge about banking and finance and try to break into finance. But know I read about the age issue you are having, not sure if it is a good idea.
Thanks, and lets see what happens!
Jaime
----
Hi Jaime (again)
If you're a PhD student, assuming that it's a 5 year long PhD, and you did your PhD after masters, after undergrad, you would be about 28 - 30 when you graduate?
If you're 28 of younger, you can still break into finance. But again, it depends on which area of finance you want to break it, finance as a whole, is a huge industry. Finance isn't really my interest, so I can't advise you specifically on how to break into it - but I guess it would primarily fall on you do to a lot of your own networking to try and meet people in Finance and hopefully secure an internship.
I don't know much about your area of expertise, so again, I can't really tell you what to do. But I do know that a lot of PhDs hired into finance tend to be technical experts and do something related to modelling - lots and lots of modelling.
I do have several suggestions for you though, just some stuff off the top of my head that you might want to try to do to break into finance.
i) Do take up a few finance courses at Tsinghua. Based on the electives offered in Fall 2011, you might want to look at Theory of Investment, Business Analysis Using Financial Statements, International Finance, Principles of Financial Engineering.
ii) Do attend the networking/guest lectures held by Tsinghua SEM. If not for anything, just to listen to the lectures (which can be pretty interesting) and perhaps meet some people in the industry.
iii) I'm not sure if you can do this, but speak to to the Tsinghua CDC and see if you can be put onto their mailing list. Once in a while, finance related jobs crop up, but they're mainly for Chinese students though because of the language required (I'm not sure if you're Chinese).
iv) There are several finance related clubs in Tsinghua SEM. You can always try to join them and participate, at least you'll have a clearer idea of finance and pick up the lingo. Always good to know the language they're talking.
Good luck to you.
-----
Hixxy & Chris Unknown - This is how we roll
Thanks, and lets see what happens!
Jaime
----
Hi Jaime (again)
If you're a PhD student, assuming that it's a 5 year long PhD, and you did your PhD after masters, after undergrad, you would be about 28 - 30 when you graduate?
If you're 28 of younger, you can still break into finance. But again, it depends on which area of finance you want to break it, finance as a whole, is a huge industry. Finance isn't really my interest, so I can't advise you specifically on how to break into it - but I guess it would primarily fall on you do to a lot of your own networking to try and meet people in Finance and hopefully secure an internship.
I don't know much about your area of expertise, so again, I can't really tell you what to do. But I do know that a lot of PhDs hired into finance tend to be technical experts and do something related to modelling - lots and lots of modelling.
I do have several suggestions for you though, just some stuff off the top of my head that you might want to try to do to break into finance.
i) Do take up a few finance courses at Tsinghua. Based on the electives offered in Fall 2011, you might want to look at Theory of Investment, Business Analysis Using Financial Statements, International Finance, Principles of Financial Engineering.
ii) Do attend the networking/guest lectures held by Tsinghua SEM. If not for anything, just to listen to the lectures (which can be pretty interesting) and perhaps meet some people in the industry.
iii) I'm not sure if you can do this, but speak to to the Tsinghua CDC and see if you can be put onto their mailing list. Once in a while, finance related jobs crop up, but they're mainly for Chinese students though because of the language required (I'm not sure if you're Chinese).
iv) There are several finance related clubs in Tsinghua SEM. You can always try to join them and participate, at least you'll have a clearer idea of finance and pick up the lingo. Always good to know the language they're talking.
Good luck to you.
-----
Hixxy & Chris Unknown - This is how we roll
Monday, January 23, 2012
Sunday, January 22, 2012
Happy Chinese New Year
It's been a while now since I last blogged. What have most of my fellow classmates been up to? Well, pretty much about half of my classmates went for an exchange abroad. Those that stayed to do the 3rd semested at Tsinghua SEM spent the last moments of the semester making arrangements to go back home for the winter break.
So right now, there is hardly anybody in Beijing (from my class) - especially given that the Chinese New Year has come earlier. Those that stayed are probably focusing on their local internships, I know at least of one classmate who is doing an internship here. In general, the consensus is that most of my classmates will come back sometime in March.
What have I been doing? Well, I spent a good part of December and January traveling before coming back to Beijing for the Chinese New Year - only to realize that perhaps, I should have had spent my time elsewhere. But actually, the fact that nobody is around allows me to get some work done. Because, well, I realized that realistically, I may not be able to get into an MBA specific role, such as a leadership program or an associate program. Possibly because of experience, age, etc; it's hard to tell why sometimes. But taking that into consideration, I've decided that I would apply directly into roles that I am interested in, aside from the usual MBA roles.
How have I fared? Admittedly not very well. Discussions for a company that was interested well through. So what is my plan? Well, I have decided that I will look into doing what I have always wanted to do - entrepreneurship and start-up. And to that, I have spent the last several weeks working on business plans for a start-up in China. However, the trickier part, is getting funding. So over the next couple of months, I will probably be knocking on a the doors of a lot of VC funds with my hat in my hand, asking for some charity. Let's hope that this goes better than my applying for a job. :)
-----
Ok, I have to admit, the main reason that I blogged today was because Jaime, left a comment. So I will go ahead and try and address her questions
"Thanks, its me, Jaime again. From the last post I guess things are getting better with the job hunting. I am selecting my grades for next semester, and would like to know if you can give me some advice of were to find SEM English courses. I know there are some you don't need to be MBA student to take, I knew some exchange French guys how were taking these courses. Do you know where can I find info about this?
And, considering I want to find some internship at a PE or IB firm, just to get some experience I am not aiming for (Goldman Sachs), can you recommend me any courses?
Thanks, and good luck with the job hunting!!"
Hi Jaime
To be honest, I am not very clear on what you do. Are you an exchange student or are you just a student hoping to take some courses at Tsinghua SEM? Anyhow, if you want to find the English courses online, you would need to have an account. At least, that is how we access the list of Ensligh electives. But perhaps, an option you could do is to call the office? I think you might be able to ask Lynn (8610-6278 5515) for advice on this and how you would be able to sign up for courses if you are not a Tsinghua SEM student.
If you are planning to find an internship at a PE or IB firm, it really depends on what role you would want to do - especially in IB. But I would suggest that you look at courses such as Theory of Investment, Capital Markets, Investment Banking (yes, there is a course that is called Investment Banking) and similarly related courses. If, you want to do an internship, and I think possibly as an analyst, do look at doing internships with securities firms such as Samsung, Mitsubitshi, etc. If you have no prior experience, it might be an opportunity for you to break into the field.
Good luck to you.
-----
Foster the People - Pumped up kicks (Skeet Skeet remix)
I wonder how many people feel like that.
So right now, there is hardly anybody in Beijing (from my class) - especially given that the Chinese New Year has come earlier. Those that stayed are probably focusing on their local internships, I know at least of one classmate who is doing an internship here. In general, the consensus is that most of my classmates will come back sometime in March.
What have I been doing? Well, I spent a good part of December and January traveling before coming back to Beijing for the Chinese New Year - only to realize that perhaps, I should have had spent my time elsewhere. But actually, the fact that nobody is around allows me to get some work done. Because, well, I realized that realistically, I may not be able to get into an MBA specific role, such as a leadership program or an associate program. Possibly because of experience, age, etc; it's hard to tell why sometimes. But taking that into consideration, I've decided that I would apply directly into roles that I am interested in, aside from the usual MBA roles.
How have I fared? Admittedly not very well. Discussions for a company that was interested well through. So what is my plan? Well, I have decided that I will look into doing what I have always wanted to do - entrepreneurship and start-up. And to that, I have spent the last several weeks working on business plans for a start-up in China. However, the trickier part, is getting funding. So over the next couple of months, I will probably be knocking on a the doors of a lot of VC funds with my hat in my hand, asking for some charity. Let's hope that this goes better than my applying for a job. :)
-----
Ok, I have to admit, the main reason that I blogged today was because Jaime, left a comment. So I will go ahead and try and address her questions
"Thanks, its me, Jaime again. From the last post I guess things are getting better with the job hunting. I am selecting my grades for next semester, and would like to know if you can give me some advice of were to find SEM English courses. I know there are some you don't need to be MBA student to take, I knew some exchange French guys how were taking these courses. Do you know where can I find info about this?
And, considering I want to find some internship at a PE or IB firm, just to get some experience I am not aiming for (Goldman Sachs), can you recommend me any courses?
Thanks, and good luck with the job hunting!!"
Hi Jaime
To be honest, I am not very clear on what you do. Are you an exchange student or are you just a student hoping to take some courses at Tsinghua SEM? Anyhow, if you want to find the English courses online, you would need to have an account. At least, that is how we access the list of Ensligh electives. But perhaps, an option you could do is to call the office? I think you might be able to ask Lynn (8610-6278 5515) for advice on this and how you would be able to sign up for courses if you are not a Tsinghua SEM student.
If you are planning to find an internship at a PE or IB firm, it really depends on what role you would want to do - especially in IB. But I would suggest that you look at courses such as Theory of Investment, Capital Markets, Investment Banking (yes, there is a course that is called Investment Banking) and similarly related courses. If, you want to do an internship, and I think possibly as an analyst, do look at doing internships with securities firms such as Samsung, Mitsubitshi, etc. If you have no prior experience, it might be an opportunity for you to break into the field.
Good luck to you.
-----
Foster the People - Pumped up kicks (Skeet Skeet remix)
I wonder how many people feel like that.
Wednesday, December 14, 2011
Over and Over
Hola, my handful of readers.
It's been pretty cold in Beijing with some slight snow fall, but nothing spectacular (thankfully). Perhaps that will come later in December or January.
Several months ago, I wrote a rather negative coverage on the MBA Career Development Center , and have been told that the Class of 2013 is also quite unhappy with them. However, I do need to admit and say that the CDC has improved quite a bit since last year - and if the uptrend continues, then the future classes of Tsinghua SEM will be in a much better position that my classmates and me.
What have they done? Well, before we get all excited, McKinsey and Goldman still don't recruit Tsinghua MBAs, average salary is still somewhat lackluster and terrible things still happen. But what have they done?
The Good
1. They've increased visibility with larger corporations that have in turn come to do MBA specific recruitment - BP, Nestle, and several Chinese banks as well as other corporations (I don't remember the exact names) have come on campus for MBA specific recruitment. That means, I don't have to sit around with 150 undergraduates listening to junior positions that are available and only to be told that they will consider MBA graduates but aren't really looking for any.
2. They've stepped up the resources - there is an additional person (Kathleen Zhang) on the CDC now who has a Canadian MBA who specializes in helping foreign MBA students. Well, I haven't gone to her for advice yet, and I probably will over the next month or so, but it's nice to know that there is a somebody specializing on foreign students.
The Bad
1. There was a huge fuss going around last week. A classmate of mine (who I personally know and worked with) was on the verge of getting a fulltime offer when somebody wrote a poison pen letter dissing him. Long story short, the firm withdrew the offer and told him no thanks. Unfortunately, the CDC says they can't do anything (or maybe, they're discussing it with the firm, but last I heard, nothing was done) and my classmate is basically screwed over.
Well, from what I heard, he could have possibly received a verbal offer, and while that is not binding, it shows very little class from the firm to rescind the offer based on a letter - I do hope that they had a stronger reason than that. Personally, I think my classmate is a great guy, smart, hardworking but a little shy with the ladies. But really, he's a good guy.
The Funny
1. In the past several company presentations I've attended, I can almost always count on a classmate to raise a hand and ask "So, when you talk about compensation, how much are you wiling to pay?" Or something to that effect. It's hilarious when you see the look on the recruiters' faces, a very wtf moment. I guess they never expected that they would be asked that upfront at a recruitment session - however, I think it puts everything into perspective, after all, students do want to know how much they're going to potentially earn and a decent firm should be able to give a range, unless they feel that they're going to pay very little and are too embarassed to say so.
But by and large, the recruiters will tend to hmm and uhmm. and say something to the effect of
i. You'll be getting a competitive package.
ii. It's a total compensation package, so look at the training and other "benefits and opportunities"
iii. And when finally pushed, they'll admit it's a local package.
But really, skip the bullshit. At this point, we've been to enough company presentations, talked to enough people and recruiters to know it's probably going to be a high end/hybrid local package. Why don't you just put the numbers on the table and talk instead of why it's still worth joining the firm?
-----
Dowster & Vagabond feat. Cat Knight & Dr. S - Over n Over
It's been pretty cold in Beijing with some slight snow fall, but nothing spectacular (thankfully). Perhaps that will come later in December or January.
Several months ago, I wrote a rather negative coverage on the MBA Career Development Center , and have been told that the Class of 2013 is also quite unhappy with them. However, I do need to admit and say that the CDC has improved quite a bit since last year - and if the uptrend continues, then the future classes of Tsinghua SEM will be in a much better position that my classmates and me.
What have they done? Well, before we get all excited, McKinsey and Goldman still don't recruit Tsinghua MBAs, average salary is still somewhat lackluster and terrible things still happen. But what have they done?
The Good
1. They've increased visibility with larger corporations that have in turn come to do MBA specific recruitment - BP, Nestle, and several Chinese banks as well as other corporations (I don't remember the exact names) have come on campus for MBA specific recruitment. That means, I don't have to sit around with 150 undergraduates listening to junior positions that are available and only to be told that they will consider MBA graduates but aren't really looking for any.
2. They've stepped up the resources - there is an additional person (Kathleen Zhang) on the CDC now who has a Canadian MBA who specializes in helping foreign MBA students. Well, I haven't gone to her for advice yet, and I probably will over the next month or so, but it's nice to know that there is a somebody specializing on foreign students.
The Bad
1. There was a huge fuss going around last week. A classmate of mine (who I personally know and worked with) was on the verge of getting a fulltime offer when somebody wrote a poison pen letter dissing him. Long story short, the firm withdrew the offer and told him no thanks. Unfortunately, the CDC says they can't do anything (or maybe, they're discussing it with the firm, but last I heard, nothing was done) and my classmate is basically screwed over.
Well, from what I heard, he could have possibly received a verbal offer, and while that is not binding, it shows very little class from the firm to rescind the offer based on a letter - I do hope that they had a stronger reason than that. Personally, I think my classmate is a great guy, smart, hardworking but a little shy with the ladies. But really, he's a good guy.
The Funny
1. In the past several company presentations I've attended, I can almost always count on a classmate to raise a hand and ask "So, when you talk about compensation, how much are you wiling to pay?" Or something to that effect. It's hilarious when you see the look on the recruiters' faces, a very wtf moment. I guess they never expected that they would be asked that upfront at a recruitment session - however, I think it puts everything into perspective, after all, students do want to know how much they're going to potentially earn and a decent firm should be able to give a range, unless they feel that they're going to pay very little and are too embarassed to say so.
But by and large, the recruiters will tend to hmm and uhmm. and say something to the effect of
i. You'll be getting a competitive package.
ii. It's a total compensation package, so look at the training and other "benefits and opportunities"
iii. And when finally pushed, they'll admit it's a local package.
But really, skip the bullshit. At this point, we've been to enough company presentations, talked to enough people and recruiters to know it's probably going to be a high end/hybrid local package. Why don't you just put the numbers on the table and talk instead of why it's still worth joining the firm?
-----
Dowster & Vagabond feat. Cat Knight & Dr. S - Over n Over
Friday, December 2, 2011
Failure
Most people, mainly do an MBA because for some reason, they believe that it'll give them opportunities that they didn't have before, because they would learn new things or even maybe because they will meet new people (network). But there's one thing that the MBA program (at least at Tsinghua) doesn't teach you.
How to overcome failure.
From day one, you're bombarded with case studies of companies and people, problems they faced and how they overcame them - or it's upt to you to analyse it and decide what's the best method they could have used to overcome it to achieve success. You're in competitions where nothing matters except getting the best score (sounds a lot like the GMAT). In the MBA world, winner usually achieves success and takes everything.
But unfortunately, in the real world. In the real world, failure happens - what happens when you fail? Sometimes you lose money, you lose a job, you lose a promotion, you even lose the girl. But the important thing is what did you do after the failure?
What went on in your mind the moment you realised you failed at something? How did you plan to overcome it? Maybe the lack in MBA education is that it doesn't address failure - comprehensively, or rather, at all. But yet, failure does exist, and it's a common thing. Especially in business. After all, how many tens of thousands, or even hundreds of thousands of businesses and ideas/products/services fail each year?
We learn the many frameworks and theories that can be applied to remove risk and the unknown. That can be applied to better understand the situation, to develop a solution. But that is not full proof. People need to understand how to manage failure, perhaps even more so than how to be successful. As many articles have pointed out, failure is a great part of success - most people who are successful have failed at some point, but not all failures become successes - why? What differentiates somebody who is able to fail (sometimes repeatedly) but still get up and continue living and fighting for his future from somebody who fails, and just stays down?
We all want to be successful, but not everybody will be successful. Most of us will fail at some point, the question is, how do we manage our failures and become successful?
-----
Avicii - Penguin (Club Mix)
Randy Mortimer - Penguin (Club mix)
I prefer Randy's version. Anyway, most clubs are playing that. But they're both good songs.
How to overcome failure.
From day one, you're bombarded with case studies of companies and people, problems they faced and how they overcame them - or it's upt to you to analyse it and decide what's the best method they could have used to overcome it to achieve success. You're in competitions where nothing matters except getting the best score (sounds a lot like the GMAT). In the MBA world, winner usually achieves success and takes everything.
But unfortunately, in the real world. In the real world, failure happens - what happens when you fail? Sometimes you lose money, you lose a job, you lose a promotion, you even lose the girl. But the important thing is what did you do after the failure?
What went on in your mind the moment you realised you failed at something? How did you plan to overcome it? Maybe the lack in MBA education is that it doesn't address failure - comprehensively, or rather, at all. But yet, failure does exist, and it's a common thing. Especially in business. After all, how many tens of thousands, or even hundreds of thousands of businesses and ideas/products/services fail each year?
We learn the many frameworks and theories that can be applied to remove risk and the unknown. That can be applied to better understand the situation, to develop a solution. But that is not full proof. People need to understand how to manage failure, perhaps even more so than how to be successful. As many articles have pointed out, failure is a great part of success - most people who are successful have failed at some point, but not all failures become successes - why? What differentiates somebody who is able to fail (sometimes repeatedly) but still get up and continue living and fighting for his future from somebody who fails, and just stays down?
We all want to be successful, but not everybody will be successful. Most of us will fail at some point, the question is, how do we manage our failures and become successful?
-----
Avicii - Penguin (Club Mix)
Randy Mortimer - Penguin (Club mix)
I prefer Randy's version. Anyway, most clubs are playing that. But they're both good songs.
Monday, November 14, 2011
Classes, almost done.
With just about all the classes done, the next couple of months look pretty empty aside from
i) Job hunting
ii) Writing the thesis
iii) Learning Chinese
iv) Traveling
Most of my classmates are planning to head back home and probably stay there until they come back for thesis defense. Those that are planning to stay here have a similar plans, and of course, including getting a job in China.
But an interesting thing to note, is that there are a fair number of people who cannot simply stand being in Beijing (and perhaps China) any longer and are just dying to get out of China. Back to the states, or maybe even Hong Kong (although that's still part of China). But I think in general, the pollution, the attitude and even the facilities of Beijing have left a pretty bad impression on people.
As for myself, I still find a good deal of attraction of staying in China. Although, I have developed a love/hate relationship with winter in particular, I think I could be willing to survive that for the opportunity to be in Beijing. Perhaps coming from where I am, I'm a little bit more tolerant of Beijing's short comings and find them perhaps amusing, or I really haven't had the opportunity to experience Beijing at its worst.
I have come to realize though, that while most companies (banks/consulting/leadership programs) do start recruitment in October, quite a fair number of jobs that you would want require you to start within a month or two. So while it's good to apply for jobs in the mentioned areas, there are a lot more jobs that you can't apply for simply because of timing. Most companies would want you to start immediately because they are non-MBA specific jobs. They will value and take your MBA into consideration, but, the companies do not have MBA graduate programs. So keep this in mind when you start applying for jobs.
-----
Soon, everybody will be leaving and hopefully, getting the jobs that they want. It's been a good 1.5 years? Well, only about a year and 3 months. It's been a good ride. Make the best of your 1st year, it'll be intense but enjoyable. That's the time when you build the friendships.
Good luck and good bye friends....
-----
DJ Volume - Spirit of Yesterday (Nightcore)
I remember the days
I remember the place
'cause I wish you were mine
just a moment in time
say my name in the night
and to you it feels right
'cause into your arms I fall
You decided to leave
just as long as I breathe
it's my very last try
and you tell me "goodbye"
I remember the place
I remember the days
the best time of my life
Refrain:
I call
the spirit of yesterday
spirit of yesterday
I fall
into your arms again
into your arms one day
I call
the spirit of yesterday
spirit of yesterday
I fall
into your arms again
into your arms one day
i) Job hunting
ii) Writing the thesis
iii) Learning Chinese
iv) Traveling
Most of my classmates are planning to head back home and probably stay there until they come back for thesis defense. Those that are planning to stay here have a similar plans, and of course, including getting a job in China.
But an interesting thing to note, is that there are a fair number of people who cannot simply stand being in Beijing (and perhaps China) any longer and are just dying to get out of China. Back to the states, or maybe even Hong Kong (although that's still part of China). But I think in general, the pollution, the attitude and even the facilities of Beijing have left a pretty bad impression on people.
As for myself, I still find a good deal of attraction of staying in China. Although, I have developed a love/hate relationship with winter in particular, I think I could be willing to survive that for the opportunity to be in Beijing. Perhaps coming from where I am, I'm a little bit more tolerant of Beijing's short comings and find them perhaps amusing, or I really haven't had the opportunity to experience Beijing at its worst.
I have come to realize though, that while most companies (banks/consulting/leadership programs) do start recruitment in October, quite a fair number of jobs that you would want require you to start within a month or two. So while it's good to apply for jobs in the mentioned areas, there are a lot more jobs that you can't apply for simply because of timing. Most companies would want you to start immediately because they are non-MBA specific jobs. They will value and take your MBA into consideration, but, the companies do not have MBA graduate programs. So keep this in mind when you start applying for jobs.
-----
Soon, everybody will be leaving and hopefully, getting the jobs that they want. It's been a good 1.5 years? Well, only about a year and 3 months. It's been a good ride. Make the best of your 1st year, it'll be intense but enjoyable. That's the time when you build the friendships.
Good luck and good bye friends....
-----
DJ Volume - Spirit of Yesterday (Nightcore)
I remember the days
I remember the place
'cause I wish you were mine
just a moment in time
say my name in the night
and to you it feels right
'cause into your arms I fall
You decided to leave
just as long as I breathe
it's my very last try
and you tell me "goodbye"
I remember the place
I remember the days
the best time of my life
Refrain:
I call
the spirit of yesterday
spirit of yesterday
I fall
into your arms again
into your arms one day
I call
the spirit of yesterday
spirit of yesterday
I fall
into your arms again
into your arms one day
Monday, November 7, 2011
Heading towards the promised land
As I mentioned earlier before, job applications are now well on their way. I guess it's during this time when you realize who your good friends are and who are just acquintances.
China is well known for being competitive, but when you have a group of classmates graduating at the same time, looking for the same jobs, the competition really gets a bit intense. By and large, unless you're applying for something totally different, people aren't going to sit down with you and help you. After all, if you get the job, it means that they don't get the job. It's a sad occurence, but a very realistic occurence. Remember when you were applying for a place on the MBA program? It's the same thing all over again - a spot given to somebody else means there's one less spot for you to get.
So, as a result, only your good friends are the ones who are willing to lend a helping hand to you - perhaps to look at your resume or help you with a cover letter, or even, write an introduction for you to a friend in a company they know.
----
How have I fared? Pretty badly so far. I've sent out perhaps 30 applications, and only received a solid response from one company. However, by and large, I've been courting this company for a while so the people I've been speaking to are somewhat familiar with me. Hopefully, within a month or two, I'll be able to lock it down.
The consensus is if you're coming to China now, you're a little late to the party. The fat cushy expat jobs are pretty much a thing of the past. Most companies now do local hiring, because the local Chinese are pretty much as good as the foreign expats in most areas, but much cheaper. I would think though, there are a few industries/roles where you can still get that fabled expat package - but you would need to have a lot of relevant work experience, and/or be in a technical role.
But, the party is still going on....
----
China is no place for the weak, unmotivated or for those that care. It's actually a pretty cruel and harsh environment to be in. One in a while, you can take a break, but usually, it's always on the go. Why do I say it's not a place for those that care? Well, sometimes, showing that you care is a weakness and most people wouldn't hesitate to explort it for their own benefit.
When you live in Beijing or Shanghai, it's easy to think that China is progressing faster and further than any other country you've been to. But you musn't forget that China still has a huge rural class, that for a majority of the people, what you spend in a day on food and entertainment would sustain them for a week, or not a month.
It's easy to see the decadence around you, whether at a restaurant, or a road or even in a club. Perhaps, it should be said, especially in a club. When people are popping bottles at RMB1.5k a bottle like they don't care, it's easy to figure that a night out with a group of friends would probably feed and educated a family for half a year.
Of course, most of the time you'll need to suppress that feeling to get on with life here as a foreigner. Possibly, the less introspection you do, the better a time you would have. Nobody really wants to sit down to discuss about what a decadent lifestyle they're having. This probably is true of every country has its poor.
----
So what happens now? Well, hopefully I get a job that lets me stay. Maybe then again, staying isn't a question - you could easily get a local friend's company to hire you so you could get the visa. So perhaps, it's more of, getting a job that I want to do that would afford me a decent life in China. After all, that's the China dream for most of us, and the reason why we came here. Because it was the promised land, except, we're just a little late now. But the lights aren't on yet. So party on.
----
An excellent article to read that puts into perspective how hard China was/and can be for people.
I fought for 18 years to have a cup of coffee with you.
----
Flyin's & Sparky feat. Marie Louise - Take My Breath Away
China is well known for being competitive, but when you have a group of classmates graduating at the same time, looking for the same jobs, the competition really gets a bit intense. By and large, unless you're applying for something totally different, people aren't going to sit down with you and help you. After all, if you get the job, it means that they don't get the job. It's a sad occurence, but a very realistic occurence. Remember when you were applying for a place on the MBA program? It's the same thing all over again - a spot given to somebody else means there's one less spot for you to get.
So, as a result, only your good friends are the ones who are willing to lend a helping hand to you - perhaps to look at your resume or help you with a cover letter, or even, write an introduction for you to a friend in a company they know.
----
How have I fared? Pretty badly so far. I've sent out perhaps 30 applications, and only received a solid response from one company. However, by and large, I've been courting this company for a while so the people I've been speaking to are somewhat familiar with me. Hopefully, within a month or two, I'll be able to lock it down.
The consensus is if you're coming to China now, you're a little late to the party. The fat cushy expat jobs are pretty much a thing of the past. Most companies now do local hiring, because the local Chinese are pretty much as good as the foreign expats in most areas, but much cheaper. I would think though, there are a few industries/roles where you can still get that fabled expat package - but you would need to have a lot of relevant work experience, and/or be in a technical role.
But, the party is still going on....
----
China is no place for the weak, unmotivated or for those that care. It's actually a pretty cruel and harsh environment to be in. One in a while, you can take a break, but usually, it's always on the go. Why do I say it's not a place for those that care? Well, sometimes, showing that you care is a weakness and most people wouldn't hesitate to explort it for their own benefit.
When you live in Beijing or Shanghai, it's easy to think that China is progressing faster and further than any other country you've been to. But you musn't forget that China still has a huge rural class, that for a majority of the people, what you spend in a day on food and entertainment would sustain them for a week, or not a month.
It's easy to see the decadence around you, whether at a restaurant, or a road or even in a club. Perhaps, it should be said, especially in a club. When people are popping bottles at RMB1.5k a bottle like they don't care, it's easy to figure that a night out with a group of friends would probably feed and educated a family for half a year.
Of course, most of the time you'll need to suppress that feeling to get on with life here as a foreigner. Possibly, the less introspection you do, the better a time you would have. Nobody really wants to sit down to discuss about what a decadent lifestyle they're having. This probably is true of every country has its poor.
----
So what happens now? Well, hopefully I get a job that lets me stay. Maybe then again, staying isn't a question - you could easily get a local friend's company to hire you so you could get the visa. So perhaps, it's more of, getting a job that I want to do that would afford me a decent life in China. After all, that's the China dream for most of us, and the reason why we came here. Because it was the promised land, except, we're just a little late now. But the lights aren't on yet. So party on.
----
An excellent article to read that puts into perspective how hard China was/and can be for people.
I fought for 18 years to have a cup of coffee with you.
----
Flyin's & Sparky feat. Marie Louise - Take My Breath Away
Monday, September 26, 2011
Job Applications
So right now, nothing's happening except job applications. The general consensus seems to be to lock down an MBA level job by January latest or you're chopped liver...
I guess that the stress level is slowly building but got to be strong, got to believe that I'm going to cross the desert and reach the promised land. What exactly is in the promised land? Nobody really knows, maybe it's just a dream that keeps us going on - but in times of doubt, what else can you wish for if not just hope? Hope is all we've got sometimes.
To talk about something depressing, here's a post I came across on ChinaHush.com. Makes you think and wonder and hope that it never happens to you.
Letter to Dad
In case you can't read it, here it is.
-----
Sarina Paris - Look at Us (Beam & Yanou remix)
I guess that the stress level is slowly building but got to be strong, got to believe that I'm going to cross the desert and reach the promised land. What exactly is in the promised land? Nobody really knows, maybe it's just a dream that keeps us going on - but in times of doubt, what else can you wish for if not just hope? Hope is all we've got sometimes.
To talk about something depressing, here's a post I came across on ChinaHush.com. Makes you think and wonder and hope that it never happens to you.
Letter to Dad
In case you can't read it, here it is.
-----
A college graduate drifter’s confession letter to his peasant worker father
Dad, Yesterday you asked me how much money I have saved. I said I have saved a little over eight thousand. You seemed a little unhappy, said I already worked almost a year, three thousand and two hundred each month, I should have saved at lease fifteen hundred. I did not dare to make a sound. Dad, I really was afraid to tell you, actually there are not even five hundred in my bank card, and I have to pay the rent – three hundred in couple of days. There are several bags of ramen on the table, and the only money I spent was the comic book “I am Bai Gu Jin” (我是白骨精) I bought the day before yesterday. Dad, for sure you are going to yell at me for spending too much money, but you know, I love to draw since when I was little, I really could not help but to buy this comic book.
Dad, I am sorry, I should not have lied. Last time mom asked me on the phone how much money I make a month. I told her three thousand and two hundred, out of thin air, but I actually only make one thousand. And I don’t work for a law firm; I am just helping out, doing odd jobs at a company. Then mom told me that you felt monthly salary of three thousand and two hundred is too low, said your construction job pays over one hundred a day. A college graduate like me should make five to six thousand. Dad, I am really sorry, for disappointing you, after so much schooling, spending so much money on school and still not better than you working at construction. Dad, I will work harder.
Some time ago you always asked me if I am going home for Chinese new year, I always said that I don’t know yet, if I have to work over time during the Spring Festival. Actually, Dad, my company does not have work during the Spring Festival, I really just do not dare to go home. I calculated, when I get my pay at the end of the year and after my rent, the ticket for going home is over four hundred, then I probably don’t even have enough money to buy mom a sweater. Dad, your son does not have the face to go home!
Mom called me and said you are stingier as you get older, always blaming me for not calling you at home. My mom and I lied to you, said your cell phone has problems, always not getting through. Couple days ago you suddenly called me with your cell phone, and told me that you spent three hundred yuan and switched to a new cell phone, the call will go through from now on. Dad, I am sorry, son lied to you, I never called you, it’s not that I don’t miss you, and not that your son is not filial, but your son is afraid that you ask about my income, afraid that you talk about money. Dad, is it snowing at home? You have to wear more cloths. It is getting cold at the south also, your son really wants to go home, really wants to sit by the fire as a family, talk and laugh.
Last month you called and said the next door neighbor Dake which is one year younger than me is getting married this winter. He is building a new house in the village, and will move in soon. I held the phone and did not know how to answer, just laughed stupidly. You asked me to bring my girlfriend home to let you meet her, I agreed and also told you that I will send some money home when I am not so busy. You were happy when you heard that, said home is not short of money and told me not to spend money where I shouldn’t, and to save my money. Dad actually I have been lying to you, my girl friend was long gone, we broke up right after I graduated. And the money, I still have not sent, not that your son doesn’t want to, it’s that your son really doesn’t have money.
Dad, really sorry, almost worked for a year still haven’t bought you some good cigarettes.
Dad, I wrote so much, but still do not dare to show you, posting in online but you will not see it. But your son really did not lie on purpose.
It’s already 2010, I really hope to make these lies come true in front of you by the end of this year, and say it to you righteously: Dad, I am sending the money home tomorrow!
-----
Sarina Paris - Look at Us (Beam & Yanou remix)
Tuesday, September 20, 2011
Nothing much happening, except some work. Classes seem interesting and boring at the same time. I am a firm believer (even more so now) that the classes are what you make of them. During this time, is probably the best time to get a part time job or an internship - not so much for the money, but for the experience of working in China. Things are very much different in some aspects.
In general, while working part time while studying you're unlikely to be paid much - if anything at all. If I'm not wrong, the cap per hour is RMB20 max. It might most probably fall between RMB10 to RMB20 though.
Is there anything remarkable to blog about? Well, not really. Except that I have learnt that even consulting companies do not follow their own advice in-house. Maybe the top 2 or top 3 firms may listen to themselves, but it seems that they are very much experts in telling others what to do vs. doing it themselves.
-----
Pro tip of the day #1 - don't play poker with somebody who is a professional.
Pro tip of the day #2 - don't play poker when you're feeling sad, or happy, or any emotions.
Duck Sauce - Barbara Streisand (Archefluxx Quack remix)
In general, while working part time while studying you're unlikely to be paid much - if anything at all. If I'm not wrong, the cap per hour is RMB20 max. It might most probably fall between RMB10 to RMB20 though.
Is there anything remarkable to blog about? Well, not really. Except that I have learnt that even consulting companies do not follow their own advice in-house. Maybe the top 2 or top 3 firms may listen to themselves, but it seems that they are very much experts in telling others what to do vs. doing it themselves.
-----
Pro tip of the day #1 - don't play poker with somebody who is a professional.
Pro tip of the day #2 - don't play poker when you're feeling sad, or happy, or any emotions.
Duck Sauce - Barbara Streisand (Archefluxx Quack remix)
Tuesday, August 30, 2011
Back in Beijing baby!
So, since coming back to Beijing, my computer crashed - but thankfully I was able to salvage the valuable stuff like... eBooks, MSN chats and.. oh yeah, my school work too. Come to think about it, the MP3s, that was definitely important.
What's been happening lately? Not much. I've moved house, and found a new housemate. A pretty cool guy, who will definitely be a hit with the single ladies of Beijing. A few things about moving house, the rent in Wudaokou trends upwards fast in August, like reaaaally fast. Add on RMB500 per week that you haven't rented a place yet. I had to move out away from the main Tsinghua area because rent was just somewhat exhorbitant.
Aside from that, job hunting for a full time job starts ... about now. I have until December to finalize the people I'm contacting and deciding on what role I want. Once I'm done with that, I have several months to secure a full time offer that hopefull pays me a bit more than just subsistence and housing.
The new class is pretty cool. You guys should definitely check out some of the ladies that have been accepted, including the local students. As for the guys.... some are pretty ok, but nothing spectacular that I've met so far. Also, unfortunately, they don't really know how to party that hard.
-----
So Jaime asked
Hi, I am going at the end of the month to study at tsinghua, and I'm thinking about doing a MBA after finishing. Could you tell us something about job expectations after graduating (inside and outside China, sallary range once finished, or what kind of companies are interested in foreign Tsingha graduates?
Thanks and hope you find this topic interesting.
Hi Jaime
Job expectations inside or outside China largely depend on you - regardless of what you're doing. Having said that, I've mentioned previously that the top tier organizations for consulting and finance - McKinsey, Goldman etc. hardly, if ever, hire Tsinghua MBAs. But then we all know that the real money isn't exactly in doing consulting or finance. What you get really depends on how much legwork and ass kissing you do. I do know that a substantial number of students in my year received full time offers after their internships - so what might be pretty good new for you.
Salary range differs from individual to individual. If you're coming in with 1 year of experience, chances are that you're going to earn a lot less than somebody with 5 years of experience. Having said that, I think you would be able to earn upwards of RMB22,000 at least, well, hopefully that's the plan.
As for companies that are interested in Tsinghua MBA graduates, you may be able to look at manufacturing, niche consulting, second tier finance, some PE, some VC - though I don't think you get the holy trifecta of PE/VC/HF, again, depending on the role that you want. I think, possibly less on service organizations.... then again, I'm not 100% sure and I'll let you know in a few months time again.
-----
Don Omar ft. Lucenzo - Danza Kuduro
What's been happening lately? Not much. I've moved house, and found a new housemate. A pretty cool guy, who will definitely be a hit with the single ladies of Beijing. A few things about moving house, the rent in Wudaokou trends upwards fast in August, like reaaaally fast. Add on RMB500 per week that you haven't rented a place yet. I had to move out away from the main Tsinghua area because rent was just somewhat exhorbitant.
Aside from that, job hunting for a full time job starts ... about now. I have until December to finalize the people I'm contacting and deciding on what role I want. Once I'm done with that, I have several months to secure a full time offer that hopefull pays me a bit more than just subsistence and housing.
The new class is pretty cool. You guys should definitely check out some of the ladies that have been accepted, including the local students. As for the guys.... some are pretty ok, but nothing spectacular that I've met so far. Also, unfortunately, they don't really know how to party that hard.
-----
So Jaime asked
Hi, I am going at the end of the month to study at tsinghua, and I'm thinking about doing a MBA after finishing. Could you tell us something about job expectations after graduating (inside and outside China, sallary range once finished, or what kind of companies are interested in foreign Tsingha graduates?
Thanks and hope you find this topic interesting.
Hi Jaime
Job expectations inside or outside China largely depend on you - regardless of what you're doing. Having said that, I've mentioned previously that the top tier organizations for consulting and finance - McKinsey, Goldman etc. hardly, if ever, hire Tsinghua MBAs. But then we all know that the real money isn't exactly in doing consulting or finance. What you get really depends on how much legwork and ass kissing you do. I do know that a substantial number of students in my year received full time offers after their internships - so what might be pretty good new for you.
Salary range differs from individual to individual. If you're coming in with 1 year of experience, chances are that you're going to earn a lot less than somebody with 5 years of experience. Having said that, I think you would be able to earn upwards of RMB22,000 at least, well, hopefully that's the plan.
As for companies that are interested in Tsinghua MBA graduates, you may be able to look at manufacturing, niche consulting, second tier finance, some PE, some VC - though I don't think you get the holy trifecta of PE/VC/HF, again, depending on the role that you want. I think, possibly less on service organizations.... then again, I'm not 100% sure and I'll let you know in a few months time again.
-----
Don Omar ft. Lucenzo - Danza Kuduro
Sunday, July 24, 2011
I don't want to be alone
Not much going on, except considering buying an iPad 2. It's actually pretty fun to use but I doubt that I would be using it for any school work immediately. Building a ppt and excel modeling would probably be much easier on the laptop.
Spent the weekend in Singapore, not a very interesting place to be in if you don't have money and are on a student budget. Comparatively to Beijing, it's also less fun though there's a casino around that you can hit when you're bored.
Actually, there wasn't anything to post about. I don't do much nowadays nor have I had any new thoughts.
Except, that when you're dealing with housing for the second year - if you can carry over your contract from the first year, it might be worthwhile to keep the house you're renting for convenience. It's much harder to get a new place that suits your requirements. It is also unavoidable to miss the increase in house rental, I've heard that it's going up 20% for the Wudaokou area :( But if you find something good, just keep it for the second year.
It seems to be the trend to move down to the Chaoyang/Sanlitun/Guomao area if possible (as long as you have money). But I think it's a bit inconvenient in terms of attending classes and group discussions, though I really don't know how much of that will happen during the second year. But a fair number of second year students from the previous class continued to stay in the Wudaokou area.
-----
You said no, you said no,
and I'm losing my mind...
I don't want to be alone..
Cat Like Thief - New Heights (Nu Foundation remix)
Download
Spent the weekend in Singapore, not a very interesting place to be in if you don't have money and are on a student budget. Comparatively to Beijing, it's also less fun though there's a casino around that you can hit when you're bored.
Actually, there wasn't anything to post about. I don't do much nowadays nor have I had any new thoughts.
Except, that when you're dealing with housing for the second year - if you can carry over your contract from the first year, it might be worthwhile to keep the house you're renting for convenience. It's much harder to get a new place that suits your requirements. It is also unavoidable to miss the increase in house rental, I've heard that it's going up 20% for the Wudaokou area :( But if you find something good, just keep it for the second year.
It seems to be the trend to move down to the Chaoyang/Sanlitun/Guomao area if possible (as long as you have money). But I think it's a bit inconvenient in terms of attending classes and group discussions, though I really don't know how much of that will happen during the second year. But a fair number of second year students from the previous class continued to stay in the Wudaokou area.
-----
You said no, you said no,
and I'm losing my mind...
I don't want to be alone..
Cat Like Thief - New Heights (Nu Foundation remix)
Download
Friday, July 15, 2011
Balling like a cog
What's an MBA internship like?
It really depends how you got the internship - did you get it through a connection or did you apply for it? But then again, how you got it doesn't translate into a good internship, although the chances are if you got it through a connection, it can be a pretty lousy experience - especially if the firm you're joining isn't used to taking MBA interns.
By and large, if you're in a structured environment, you'll probably learn a lot of new things, and have people treat you better. If you join a firm that doesn't usually take MBA interns, then you're probably just going to be a small intern cog that doesn't learn much, do much or talk much. Google chat and MSN are your best friends.
Since I did get the internship through a connection, let me run you through what I do.
7.15am Wake up
8.45am Get into office
9.00am Make coffee
9.15am Start up googlechat with my fellow cogs in other firms
10.30am Still on googlechat, and MSN now
11.30am Decide on what to have for lunch (usually nobody goes with me - maybe it's because I'm anti social
2.00pm Come back from lunch
2.15pm Back on googlechat
5.00pm Say goodbye to my cog friend that goes back early
5.30pm Go back home, or dally around the shopping complex waiting for dinner partners.
Midnight Head to bed
It can be a mind numbing experience, aside from Googlechat, you might want to look into books on Scribd.com, pretty decent selection there.
Sometimes, you get thrown a project, but usually you're thrown the project because nobody else wants to do it. In short, you're not important at all.
I hear if you join finance and consulting, the internship experience is much better - I think it's because those firms recruit MBAs, and have a structured internship in which they try to determine whether you're worth hiring. Also, they pay more, much more.
Of course, I have a baller cog friend who parties until 5am (you know who you are) and goes to work at 8.30. Pretty impressive, I wonder whether that friend actually was able to walk back home after work....
-----
Sometimes, when you tell me your stories, I cry a little inside for you.
-----
Fuquavision - Damn it Feels Good to be a Banker
Probably the oldest and still the best song about being a banker...
Tell me why you want to be a trader
I want to work at Goldman Sachs
So you want to go to business school
It really depends how you got the internship - did you get it through a connection or did you apply for it? But then again, how you got it doesn't translate into a good internship, although the chances are if you got it through a connection, it can be a pretty lousy experience - especially if the firm you're joining isn't used to taking MBA interns.
By and large, if you're in a structured environment, you'll probably learn a lot of new things, and have people treat you better. If you join a firm that doesn't usually take MBA interns, then you're probably just going to be a small intern cog that doesn't learn much, do much or talk much. Google chat and MSN are your best friends.
Since I did get the internship through a connection, let me run you through what I do.
7.15am Wake up
8.45am Get into office
9.00am Make coffee
9.15am Start up googlechat with my fellow cogs in other firms
10.30am Still on googlechat, and MSN now
11.30am Decide on what to have for lunch (usually nobody goes with me - maybe it's because I'm anti social
2.00pm Come back from lunch
2.15pm Back on googlechat
5.00pm Say goodbye to my cog friend that goes back early
5.30pm Go back home, or dally around the shopping complex waiting for dinner partners.
Midnight Head to bed
It can be a mind numbing experience, aside from Googlechat, you might want to look into books on Scribd.com, pretty decent selection there.
Sometimes, you get thrown a project, but usually you're thrown the project because nobody else wants to do it. In short, you're not important at all.
I hear if you join finance and consulting, the internship experience is much better - I think it's because those firms recruit MBAs, and have a structured internship in which they try to determine whether you're worth hiring. Also, they pay more, much more.
Of course, I have a baller cog friend who parties until 5am (you know who you are) and goes to work at 8.30. Pretty impressive, I wonder whether that friend actually was able to walk back home after work....
-----
Sometimes, when you tell me your stories, I cry a little inside for you.
-----
Fuquavision - Damn it Feels Good to be a Banker
Probably the oldest and still the best song about being a banker...
Tell me why you want to be a trader
I want to work at Goldman Sachs
So you want to go to business school
Wednesday, June 1, 2011
Questions and Answers - CEIBS vs Tsinghua - Entrepreneurship
Hi,
I'm deciding between Tsinghua SEM and CEIBS. My goal is tobe an entreprenuer so my concern are the class experience, quality of classmates and professors. How are these areas compared to top20 school in U.S.? How good are Tsinghua entreprenuership electives? If u were me, which of the 2 school would you choose?
Thanks alot for your help
- Anonymous
Hi Anonymous
You caught me as I was thinking between going to sleep or playing poker. It's been a while since I've written anything, so well, I figured it would be a good time to address your question.
1. You want to be an entrepreneur.
There is no special business school that you go to that will turn you into an entrepreneur. By and large, all decent business schools will cover the basics that you need to become an entrepreneur - some finance, some management, some strategy, etc. What is probably important is what do you want to learn at business school that will allow you to become an entrepreneur.
If you're an engineer, then there's quite a bit you can learn at business school, if you're somebody with a sales/marketing and/or finance knowledge - you're pretty set. You do not really have to go to business school to become an entrepreneur. Actually, it's more likely that you will go to business school and then decide NOT to become an entrepreneur as you watch yourself blow away money on tuition fees, living costs, girls (or boys) and alcohol.
What's important is who you mix with. If I'm not wrong, perhaps maybe 10% - 15% of students will venture into entrepreneurship at any normal school. If you mix with people who want to go into finance, you might go there - or consulting, etc. There's a certain amount of pressure at school for you to get a "proper job".
But mix with the people who want to start something, and maybe, you might catch that bug as well. And hopefully, you will start something.
2. CEIBS vs Tsinghua for entrepreneurship
As I have not attended CEIBS, I don't really know. What I do know, is that I have a friend in CEIBS who is interested in starting a venture with me. So that makes 1 Tsinghua, 1 CEIBS. I also do know that there are a few others at Tsinghua who are interested in their own ventures as well as a few others at CEIBS.
What I do know is that at Tsinghua, there is a fairly large number of people who come from family owned businesses. Meaning, it's in their family to be entrepreneurial - so you might want to take that into consideration. I am told that CEIBS is full of professionals, so not that many might want to venture out and start something new (I'm assuming that if your family started something, they would support you starting something and you might actually start something).
3. Quality of classmates, professors and class experience.
Well, in terms of my class - the quality of classmates differ wildly. From people who do not really know anything, to people who are wicked smart. By and large, most fall into the grey area - they're good, but not stellar, but at the same time, not totally shit.
I've addressed professors before, but to rehash - Tsinghua has its fair share of winners and losers.
What I have been told that Tsinghua will be revamping the admissions process to deliver a higher class quality. Local Chinese applicants will be required to take the GMAT and selectivity will be driven down. This is probably to happen for the class of 2014. As for the class for 2013, I only know only but one person - and if you get a chance to know her well, you will consider yourself a lucky lucky man. :)
4. Entrepreneurship electives.
Entrepreneurship electives at Tsinghua are nothing spectacular. Like I said earlier, there are no classes that will turn you into an entrepreneur. It's an accumulation of what you know in terms of basics and your ability to think and act on what you feel will be a good opportunity. You could go to Stanford and come out a none-entrepreneur. Or Babson, which is apparently really good for entrepreneurship. A lot of it depends on you, not the school you attend. The core classes will give you a foundation, the electives will give you a framework, but aside from that... it's all you.
5. Choosing between CEIBS and Tsinghua.
I chose Tsinghua because I had the understanding that it would be more of an entrepreneurship school - given that it's seen as the MIT of the East, and has close ties with many venture capitalists. It is true that several venture capitalists have come and given talks at the school, it is also true that Tsinghua is in the "Silicon Valley" of Beijing. But getting money from them and having an idea is also really really hard.
On the other hand, my friend chose CEIBS because he felt that being in Shanghai would give him easier access to the economic pulse of China. However, having said that, he'll be doing his internship in Shanghai. He's pretty happy at CEIBS, although I will have a more thorough discussion with him when I see him next week.
Tsinghua has obviously a better general name. However, CEIBS seems to have better relationships with MNC companies. Shanghai is much nicer than Beijing, especially Wudaokou - but also much pricier.
Am I disappointed that Tsinghua didn't deliver on the entrepreneurship training? Well, I guess I learnt that it's not the training that makes you an entrepreneur, but it's what you want in life.
-
If you come to Tsinghua, I hope to see you and I hope you will have a good experience. Doing an MBA at Tsinghua, or maybe, China in general isn't the easiest thing in the world. There will be a lot of frustrations and disappointments. But coming to Tsinghua or CEIBS isn't really about the MBA - it's about being in China and being part of China's future. And that, is more important than which school you go to.
------
And last but not least, to the person in the class of 2013 that I know. It was good knowing you, I had fun.... :)
LMC vs U2 - Take me to the clouds above (Tim Dawes remix)
I'm deciding between Tsinghua SEM and CEIBS. My goal is tobe an entreprenuer so my concern are the class experience, quality of classmates and professors. How are these areas compared to top20 school in U.S.? How good are Tsinghua entreprenuership electives? If u were me, which of the 2 school would you choose?
Thanks alot for your help
- Anonymous
Hi Anonymous
You caught me as I was thinking between going to sleep or playing poker. It's been a while since I've written anything, so well, I figured it would be a good time to address your question.
1. You want to be an entrepreneur.
There is no special business school that you go to that will turn you into an entrepreneur. By and large, all decent business schools will cover the basics that you need to become an entrepreneur - some finance, some management, some strategy, etc. What is probably important is what do you want to learn at business school that will allow you to become an entrepreneur.
If you're an engineer, then there's quite a bit you can learn at business school, if you're somebody with a sales/marketing and/or finance knowledge - you're pretty set. You do not really have to go to business school to become an entrepreneur. Actually, it's more likely that you will go to business school and then decide NOT to become an entrepreneur as you watch yourself blow away money on tuition fees, living costs, girls (or boys) and alcohol.
What's important is who you mix with. If I'm not wrong, perhaps maybe 10% - 15% of students will venture into entrepreneurship at any normal school. If you mix with people who want to go into finance, you might go there - or consulting, etc. There's a certain amount of pressure at school for you to get a "proper job".
But mix with the people who want to start something, and maybe, you might catch that bug as well. And hopefully, you will start something.
2. CEIBS vs Tsinghua for entrepreneurship
As I have not attended CEIBS, I don't really know. What I do know, is that I have a friend in CEIBS who is interested in starting a venture with me. So that makes 1 Tsinghua, 1 CEIBS. I also do know that there are a few others at Tsinghua who are interested in their own ventures as well as a few others at CEIBS.
What I do know is that at Tsinghua, there is a fairly large number of people who come from family owned businesses. Meaning, it's in their family to be entrepreneurial - so you might want to take that into consideration. I am told that CEIBS is full of professionals, so not that many might want to venture out and start something new (I'm assuming that if your family started something, they would support you starting something and you might actually start something).
3. Quality of classmates, professors and class experience.
Well, in terms of my class - the quality of classmates differ wildly. From people who do not really know anything, to people who are wicked smart. By and large, most fall into the grey area - they're good, but not stellar, but at the same time, not totally shit.
I've addressed professors before, but to rehash - Tsinghua has its fair share of winners and losers.
What I have been told that Tsinghua will be revamping the admissions process to deliver a higher class quality. Local Chinese applicants will be required to take the GMAT and selectivity will be driven down. This is probably to happen for the class of 2014. As for the class for 2013, I only know only but one person - and if you get a chance to know her well, you will consider yourself a lucky lucky man. :)
4. Entrepreneurship electives.
Entrepreneurship electives at Tsinghua are nothing spectacular. Like I said earlier, there are no classes that will turn you into an entrepreneur. It's an accumulation of what you know in terms of basics and your ability to think and act on what you feel will be a good opportunity. You could go to Stanford and come out a none-entrepreneur. Or Babson, which is apparently really good for entrepreneurship. A lot of it depends on you, not the school you attend. The core classes will give you a foundation, the electives will give you a framework, but aside from that... it's all you.
5. Choosing between CEIBS and Tsinghua.
I chose Tsinghua because I had the understanding that it would be more of an entrepreneurship school - given that it's seen as the MIT of the East, and has close ties with many venture capitalists. It is true that several venture capitalists have come and given talks at the school, it is also true that Tsinghua is in the "Silicon Valley" of Beijing. But getting money from them and having an idea is also really really hard.
On the other hand, my friend chose CEIBS because he felt that being in Shanghai would give him easier access to the economic pulse of China. However, having said that, he'll be doing his internship in Shanghai. He's pretty happy at CEIBS, although I will have a more thorough discussion with him when I see him next week.
Tsinghua has obviously a better general name. However, CEIBS seems to have better relationships with MNC companies. Shanghai is much nicer than Beijing, especially Wudaokou - but also much pricier.
Am I disappointed that Tsinghua didn't deliver on the entrepreneurship training? Well, I guess I learnt that it's not the training that makes you an entrepreneur, but it's what you want in life.
-
If you come to Tsinghua, I hope to see you and I hope you will have a good experience. Doing an MBA at Tsinghua, or maybe, China in general isn't the easiest thing in the world. There will be a lot of frustrations and disappointments. But coming to Tsinghua or CEIBS isn't really about the MBA - it's about being in China and being part of China's future. And that, is more important than which school you go to.
------
And last but not least, to the person in the class of 2013 that I know. It was good knowing you, I had fun.... :)
LMC vs U2 - Take me to the clouds above (Tim Dawes remix)
Sunday, April 17, 2011
Partying at Tsinghua
In light of people getting shafted over the bills, here are some simple guidelines to follow when you go out in a group to drink.
1. Don't invite non-Tsinghua people unless you're close with them.
2. Don't let the people you invite, invite other people that you don't know.
3. Everybody should pay up front, before drinks are ordered.
4. There's no such thing as "I'm not drinking" when the person has a drink. Make everybody pay up their share even if they only have one drink.
5. Designate one person to order, nobody else orders except for the designated person (preferably holding the cash as well).
If you do that, you'll have a good time. If you don't do that, you'll be left holding the bag and having to cover for others.
----
Lumin8 & Cheever - Sahara
1. Don't invite non-Tsinghua people unless you're close with them.
2. Don't let the people you invite, invite other people that you don't know.
3. Everybody should pay up front, before drinks are ordered.
4. There's no such thing as "I'm not drinking" when the person has a drink. Make everybody pay up their share even if they only have one drink.
5. Designate one person to order, nobody else orders except for the designated person (preferably holding the cash as well).
If you do that, you'll have a good time. If you don't do that, you'll be left holding the bag and having to cover for others.
----
Lumin8 & Cheever - Sahara
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