3. Samuel Curtis Johnson Graduate School of Management at Cornell University
Details of the China Trek
• December 19th to 24th (tentative)
• Shanghai and Beijing
• Focus:
– Consulting
– MNC
– PE/VC
• Estimated cost $1,500 to $2,000
includes:
– Airfare
– Hotel & Transportation
– Food
Companies to visit
In the process of contacting alums at:
MNC Consulting PE/VC
McKesson
Air Products
J&J
SC Johnson
Honeywell
JA Solar
Yingli Energy
Bain
Consulting
McKinsey
LEK
Arthur D. Little
AT Kearney
CXC Capital
Evolution
Capital
Advisory
The beginning of your first steps into China
4. Samuel Curtis Johnson Graduate School of Management at Cornell University
Frequently Asked Questions
5. Samuel Curtis Johnson Graduate School of Management at Cornell University
I am not Chinese, will it be impossible for me to
do business in China?
• Not impossible.
• Difficult as with any foreign country.
• Long history of foreigners doing business in China.
6. Samuel Curtis Johnson Graduate School of Management at Cornell University
What if I don't speak Chinese?
• Difficult, not impossible.
• English friendly environments common.
– English as written communications common.
– English fluency within MNCs is widespread.
• Wide variety of Chinese language studying options available.
7. Samuel Curtis Johnson Graduate School of Management at Cornell University
Will it be hard to network and advance as a foreigner?
• Many opportunities for professional networking.
• US Ivy League MBA education makes you interesting.
8. Samuel Curtis Johnson Graduate School of Management at Cornell University
Will it be tough living in China as a foreigner?
9. Samuel Curtis Johnson Graduate School of Management at Cornell University
I’m interested in investment banking, what
about us?
2010
From Seeking Alpha
2009
From thestreet.com
• The biggest IPO ever is:
• Surpassing the second biggest IPO:
Agricultural Bank of China ($19.2B)
Industrial and Commercial Bank of China ($19.1 B)
10. Samuel Curtis Johnson Graduate School of Management at Cornell University
But what are the downsides?
• Possible large asset bubble, especially
in real estate and stocks.
• Widening income gap leading to social
instability.
• Political instability domestically and
internationally.
11. Samuel Curtis Johnson Graduate School of Management at Cornell University
And the pollution…
• It’s pretty bad.
12. Samuel Curtis Johnson Graduate School of Management at Cornell University
Come to China
Editor's Notes
My goal is not to show you any pictures of buildings and cultural stuff. Show you some data: GDP growth. China is huge.
I am not native Chinese, I can not do business in China. Yes, it is hard. But there are numerous stories of people succeeding. Also numerous stories of people failing. Have to be careful and mind the legal formation work.
Not going to lie, that is a problem. But you can quickly perform. Lots of multinational management positions. In the next ten years, China will suffer a crunch for mid level managers. Speaking Chinese will help you, a lot, but is not a deal breaker the higher up you go. Especially post Ivy league MBA.
It will be easier than networking in the USA. Honestly, a foreign educated person, Chinese heritage or otherwise, is generally highly looked upon. Also, the expat community is very tight knit. I knew many executives and they were happy to sit down with me and chat.Many opportunities for professional networking.
Difficult yes, but every day more and more of the comforts of home are arriving in China. Also, there are lots of foreigner friendly places in Beijing and Shanghai, as well as the second tier cities. Lots of foreigner targeted events going on all of the time.BTW, if you guys know our classmate Shan, Shan will hook you UP.
Biggest IPOs in recent years.
Pollution is bad. Yeah. If you are a runner or have kids, reconsider the major cities.
You will take a pay cut. I made $25,000 a year. I lived like a king. $25,000 a year is enough to rent a very nice apartment in central Beijing. Eat at the fanciest restaurants on a regular basis. Take cabs everywhere. Have a housekeeper clean your house, do your dishes, and do your laundry. Also, Beijing and Shanghai also have a lot of western amenities like Coldstone ice cream. Fatburger just opened up. Etc.
The Johnson Brand is not strong in China.This is true. But Cornell is extremely famous and will open doors. Say Cornell MBA. People's eyes will light up.
It definitely is an investment. But this is a trip which will hopefully have an impact on your career for 20 years.
