Chinese Students Are Paying Agents $50,000 for Finance Jobs as Market Sours
- Career consulting is booming with youth unemployment at 13%
- Rogue operators are charging top dollar for bogus internships
This article is for subscribers only.
Chinese students are increasingly turning to career coaching services, paying as much as $50,000 to land a coveted finance job. But as the employment market sours and Wall Street firms cut back on hiring in the country, many are left empty-handed.
At least a dozen consulting firms are active, offering to help fast track offers from investment banks, hedge funds and private equity firms. Services include resume polishing, coaching on interview technique and even internal referrals.