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from George Chen:

Journalist, or analyst?

We all know how hot the job market is these days in the Chinese financial industry, and with almost every hirer facing the question of where to find enough smart people to fill  those openings, some banks are trawling an alternative talent pool -- financial journalists. In fact, the media industry has been a talent source for fund houses and investment banks for some time, but mostly for public relations- or marketing-related roles. Talk to a spokesperson for a big bank such as Citigroup or Morgan Stanley, and you shouldn’t be surprised to learn she or he once worked for a leading media organisation before moving to the so-called “dark side”. More recently, some banks are starting to realise that journalist can handle more than PR. What about  as economists or analysts to study monetary policy and capital markets for big global banks in China? The head of China research at a British bank recently sent an email to his friends advising that the bank was looking for a China economist and researcher to join his fast-expanding team in Shanghai or Beijing. Besides a basic financial and economics-related educational background, the notice highlighted one condition that the ideal candidate would meet. “We are looking for candidates with either a decent advanced (i.e. post-graduate) degree in economics and/or with a strong background in journalism/industry research in China. We view a journalist’s eye for a story and ability to work out how particular policies work in practice in China as strengths,” the hirer said in the note, which was widely distributed among financial journalists in China this week. Separately, at almost the same time, the China research team leader at a big European investment bank also published a new job notice for China stock analysts, and asked his colleagues to spread the word, especially among their financial media friends. Among the requirements, the hirer pointed out that the applicant should demonstrate excellent writing skills, especially for analytical articles. As far as I know, not too many journalists have MBAs, which are often considered an entry ticket for a career in investment banking or asset management. For roles such as economist at a big bank, a PhD used to be a basic requirement, but in a developing market such as China, do people really want to make things a bit easier? Given China’s immature market environment, the right information and fast access to key economic data are becoming more important for economists and analysts, whose reputations rely on the credibility of their forecasts and a sensitivity to market trends (ahead of their competitors). Such work often relies on an extensive network of contacts in different industries and ministries across the vast nation. Meanwhile, in China’s capital markets, rumours are often proved to be true. For example, about two weeks ahead of the release of official data early this month, the stock market in Shanghai was already full of talk and speculation that inflation November would reach a new high of 5.1 percent. Guess who is usually among the first to hear these rumours? Good financial journalists with strong ties with government sources. Some industry watchers have observed that economists in China are becoming more like newsbreaking, investigative journalists. Remember Beijing’s surprise announcement of a 4 trillion yuan (about 586 billion U.S. dollars at that time) stimulus package in late 2008 to help maintain economic expansion amid the global financial crisis? To some clients of a big U.S. bank, the announcement may not have been very surprising as they had learned of the plan from the bank’s economist, who had tapped well-placed sources in Beijing for intelligence. Perhaps  a good China economist can someday teach at Columbia Journalism School when he feels he earns enough money? By the same token, a financial journalist could also teach MBA students how to develop a source network in China.

By George Chen
The opinions expressed are the author’s own.

We all know how hot the job market is these days in the Chinese financial industry, and with almost every hirer facing the question of where to find enough smart people to fill those openings, some banks are trawling an alternative talent pool -- financial journalists.

In fact, the media industry has been a talent source for fund houses and investment banks for some time, but mostly for public relations- or marketing-related roles.

Talk to a spokesperson for a big bank such as Citigroup or Morgan Stanley, and you shouldn’t be surprised to learn she or he once worked for a leading media organisation before moving to the so-called “dark side”.

from The Great Debate UK:

The added value of the MBA in promoting sustainability

-Lindsey Nefesh-Clarke is the founder of Women’s Worldwide Web – an online charitable organisation designed to help empower women with access to micro-finance loans, education, mentoring and networking. The opinions expressed are her own.-

“To reach a tipping point towards a new era of sustainability”: this is the urgent goal of the business, government and civil society leaders who convened in New York City for the recent U.N. Global Compact Leaders Summit.

from Entrepreneurial:

Making your elevator pitch work

Stuck in an elevator with a well-known investor, but not sure how to make the most of your two minute ride?

Becky Reuber, a professor of strategic management at Toronto's Rotman School of Management, has a few tips on how to craft an effective elevator pitch.

from Commentaries:

The subprime to prime mortgage handoff

Data released by the Mortgage Bankers Association confirms the trend that prime borrowers are the ones to worry about.

While the percentage of mortgages entering the foreclosure process in the 2Q held relatively steady at 1.36%, the change in composition is noteworthy.

from DealZone:

Graduating MBA? Tough luck

The bear market's message to MBA graduates - tough luck.

MBAs who graduate during a bear market may never get the chance to start a Wall Street career, which means they would earn significantly less over their lifetime than those who graduated when things were rosy around them, a Stanford business school study shows.

The proportion of graduating MBAs who manage to get hired into lucrative investment banking positions shrinks or expands depending on how well the stock market is performing in a given year, according to the study by Paul Oyer, an associate professor of economics at the Stanford Graduate School of Business. The study is based on the long-term career choices and salaries of the school's graduates over 35 years.

from DealZone:

Hiring MBAs this summer? Join our Desperate Interns Drive

It’s the end of April, which means that a bunch of first-year MBA candidates are freaking out about not having summer internships lined up yet. But we’re here to help, with our annual Desperate Interns Drive.

This is a lot like the Internship Rodeo from November, except that it’s later in the game for both employers and employees. So if your firm or one of your portfolio companies is looking to hire summer interns from the current crop of first-year MBA candidates, please drop me a note at daniel.primack@thomsonreuters.com.

from Trading Places:

Students brace for workplace changes

The New York Times is reporting a shift in campus recruiting, thanks to the Wall Street meltdown. Firms such as JP Morgan Chase, Deutsche Bank and others have canceled recruitment sessions at Harvard, Princeton, Stanford and other universities. With more than 100,000 financial industry jobs lost so far this year, students who had been banking on six-figure salaries following graduation are rethinking their career trajectories. Matriculating into the highest-ranked schools and dual degrees are at the top of the list. Law school is becoming an increasingly appealing option.

Perhaps more notable is that students pay attention now in career services workshops. According to Robin Mount, interim director of career services at Harvard, students were more focused. "In previous years, they often spent these sessions sending text messages; this year, the sessions have been purposeful and heavily attended. Ms. Mount said she could have heard a pin drop."

from India Insight:

Searching for a brighter future for India

Sometimes journalists are accused of only writing about bad news, so I wanted to share with you a wonderful day I had last Friday travelling to Hyderabad.

For a change, even the journey was smooth. I went on a brand-new plane with one of India's new airlines -- not only was the service good, but it actually left exactly on time, and arrived early. A bit of a rarity in my recent experience of India's congested airports and airspace.