In light of the slowing economic growth amid the global financial tsunami, jobs are becoming scarce. Young people and fresh graduates may find their job search more difficult and it may take a long time before they eventually find one.

Speaking of his personal experience following his graduation from the University of Hong Kong (HKU) in 1973, former secretary for commerce and economic development Frederick Ma encourages young people to persevere and not to give up easily in their pursuit of a job.

He advises applicants to prepare well by doing plenty of research on the company they wish to join before the job interview. Most importantly, they need to impress their potential employers in a very short time.

Frederick Ma advises young people to accept offers on the table when opportunities come.

In an exclusive interview with China Daily, Ma said there are fewer jobs as a whole but the situation may vary from sector to sector. Understandably, investment banks and the hospitality sector have recruited fewer people but the Big Four accounting firms and the construction sector are still hiring a lot of staff.

"The door is becoming smaller, but they still need reach out to find jobs," said Ma, now an Honorary Professor at the HKU School of Economics and Finance after leaving the government last July for health reason.

As well as good preparation, Ma advises job seekers to read up on current affairs so that they are aware of what is happening around. They also need to impress employers by showing their intelligence quotient and emotional quotient during the interview. Of course, they should dress appropriately and be punctual.

During job interviews, it is important for applicants to maintain eye contact with the person conducting the interview. Otherwise, they may appear to be lacking self-confidence.

"I have heard from my friends in the financial sector that some applicants haven't made good preparations for job interviews," he said.

"Most employers like their staff to be smart, knowledgeable, familiar with current affairs and have good common sense. It is a pity if an applicant for a financial position does not know what the G20 meeting means," he commented. "During interviews, applicants must also show they have good interpersonal skills, team spirit, drive and passion for the job. Team spirit is very important because one must be able to work and interface with other people."

Ma adds that, from the employers' viewpoint, they do not like job-hoppers who change jobs frequently. "There must be something wrong with you if you change jobs every year, as you are either fired or are not committed to your job," he said. However, Ma acknowledges that his service with local telecommunications giant PCCW lasted just one year because he decided to join the government in July 2002.

During the interview, applicants are often asked to state an expected salary. In Ma's opinion, this is a sensitive question. If one proposes a too high salary, he may be discarded. If one asks for a low salary, it shows they lack confidence.

"Applicants may tell the employers they are happy to follow the company's existing salary scale. Alternatively, they may say that as they are young and are at the start of their career, the chance to learn is more important than money. This is the art of conversation when you are talking without answering, but the employers will be very impressed," he says.

Applicants may also be asked things they don't know. Ma recollects a time when he attended his first interview 36 years ago, the employer asked him about depreciation.

"I told him I did not know but I tried to give an answer to the best of my understanding. I can't remember what I said then," he says. "It is good to be honest and say you don't know rather than talking a load of nonsense."

Despite the economic downturn, Ma believes most employers will pay the right salary to the right candidates and will not drag down salaries. "I believe most employers want to hire capable people and not buy cheap staff. If they drag down salaries, they will not attract capable people," he said.

In these difficult times, young people will encounter a tough and prolonged job search but he advises them to be patient and keep persevering.

Ma remembers when he was working at a securities firm, he rejected the application of a young man whom he thought was not good enough. However, the young man did not give up. He phoned Ma time and again telling him he wanted the job.

Months later, Ma changed his mind and hired him when another vacancy came up. As the young man performed quite well, Ma was glad that he had given him a chance.

Young people may consider joining the government when looking for a job, says Ma. "People must have the heart to serve the community if they apply for government jobs," he said. "The biggest advantage of government jobs is stability and the pay is not bad. If they do well, they may have a chance to move up or even become principal officials."

Revealing a little-known "secret", Ma says that he had applied to be an Administrative Officer (AO) in 1973 but failed. However, his HKU classmates Peter Lai and Stephen Ip both succeeded, riding the fast-track in their government career and reaching the policy secretary level before 1997.

Ma wanted to be an AO because the monthly pay was HK$3,200, compared with the HK$1,600 he got from his first job. Another HKU classmate and former financial secretary Antony Leung earned HK$100 more because the American bank that he served was more generous.

"I wanted the well-paid AO job to improve my family's financial position," he said.

In fact, next to becoming an AO Ma's other priority was to join an airline rather than a bank. "I liked to travel. You know travel was a luxury in that era," he said.

However, the offer from the airline came a month after Ma joined a bank and he decided to stay put. "It is a matter of commitment," he says. "It is not my way to use other people as a stepping stone and quit the job after just one month."

Over two spells, Ma worked at the same bank for 10 years.

He used the above example to tell young people to seize opportunities as they come, saying: "You should accept the offer on the table be it the first priority or not, unless you dislike the job."

Hong Kong unemployment statistics. (Source: Census and Statistics Department)

(HK Edition 06/26/2009 page4)