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For Participating Employers

  1. If our company already has an in-house internship programme, can we participate in the WAM Summer Internship Programme?
    Yes. You are strongly encouraged to make use of the WAM Summer Internship Programme for your in-house internship programme.

  2. How should companies align their own administrative arrangements under existing in-house internship programmes with the WAM Summer Internship Programme?
    Companies with existing in-house internship programmes are welcome to participate in the Summer Internship Programme and continue with their existing administrative arrangements (e.g. job rotation) as long as they fulfil the terms and conditions of Participating Employers of the Summer Internship Programme.

  3. Is there any compulsory internship duration that Participating Employers have to commit to under the WAM Summer Internship Programme?
    For the Summer Internship Programme, the duration of an internship position should be no less than 4 weeks, with the exact duration to be determined by the Participating Employer. It should be noted that the subsidy that the Government would provide to the Participating Employer for each internship position will be capped at 8 weeks each year.

  4. How much will the Government reimburse the Participating Employer if an internship position lasts longer than 4 weeks but less than 8 weeks?
    The Participating Employer will be reimbursed for each completed 4 weeks of internship placement and on a pro-rata basis for the portion of the honorarium paid beyond the completed 4 weeks, up to 75% of the total honorarium paid or HK$7,000 (whichever is lower).

  5. Is there any flexibility in the number of internship positions provided by Participating Employers for the 2021 intake?
    There will be no quota on the number of internship positions to be made available for the 2021 intake, i.e., Participating Employers are welcome to offer as many internship positions which can meet the requirements of the Summer Internship Programme as they can.

  6. Who are the students eligible to apply for the internship positions under the Summer Internship Programme?
    All full-time undergraduate students, who are residents of the Hong Kong Special Administrative Region and will continue his/her undergraduate study after the internship period, of the 22 accredited degree-awarding higher education institutions^ at the time of application; and are lawfully employable in Hong Kong are eligible to apply for the internship positions.

     

    ^ 22 accredited degree-awarding higher education institutions in Hong Kong include Caritas Institute of Higher Education, Centennial College, Chu Hai College of Higher Education, City University of Hong Kong, Gratia Christian College, HKCT Institute of Higher Education, Hong Kong Academy for Performing Arts, Hong Kong Baptist University, Hong Kong Nang Yan College of Higher Education, Hong Kong Shue Yan University, Lingnan University, Technological and Higher Education Institute of Hong Kong of Vocational Training Council, The Chinese University of Hong Kong, The Education University of Hong Kong, The Hang Seng University of Hong Kong, The Hong Kong Polytechnic University, The Hong Kong University of Science and Technology, The Open University of Hong Kong, The University of Hong Kong, Tung Wah College, UOW College Hong Kong, and Yew Chung College of Early Childhood Education

  7. When will the student application process commence for Summer Internship Programme 2021?
    The Student Application Round will start on 2 March to 23 March 2021.

  8. How is the recruitment process handled?
    Under the Summer Internship Programme, all internship positions offered by Participating Employers will be posted on the WAM Pilot Programme website (URL: https://www.wamtalent.org.hk). Each eligible student will submit his/her application via the recruitment platform on this website. The application will then be posted under the employer portal when the position is offered. No limit is placed on the number of internship positions each eligible student can apply for.

     

    Participating Employers may initiate and conduct the recruitment process according to their own schedules. Shortlisted student applicant(s) will be contacted directly by the respective Participating Employers regarding any suitability assessments. Suitable student(s) will be selected, in order of preference, as student intern(s). Participating Employers are required to report the Offer List(s) (i.e. the list of suitable students identified as student interns) to the Hong Kong Securities and Investment Institute as soon as the selection process is completed. The offer appointment process should NOT proceed unless the Hong Kong Securities and Investment Institute has received the Offer List. Upon acceptance of the offer(s) by the selected student(s) (and preferably with the employment contract already signed), Participating Employers are to submit a Final Acceptance List to the Hong Kong Securities and Investment Institute.

  9. Can any Participating Employer remain anonymous when the internship positions are posted on the WAM Pilot Programme website?
    No. Such an arrangement would infringe the Code of Practice on Human Resources Management (“Code”) issued under section 12 of the Personal Data (Privacy) Ordinance (Cap. 486). Under paragraph 2.3.3 of the Code, an employer who directly, or through its agent, advertises a vacancy that solicits the submission of personal data by job applicants should provide a means for the applicant to identify either the employer or its agent.

  10. Will honorarium information be disclosed when the internship positions are publicised on the WAM Pilot Programme website?
    No, we will not post any salary information due to its commercially sensitive nature. Participating Employers should discuss salaries directly with the student applicants during the selection/recruitment process. The employment terms, including the honorarium, must be agreed between the Participating Employer and student intern before the commencement of internship and set out in the employment contract signed between the Participating Employer and student intern.

  11. What is the timeline for the selection process?
    While the Selection Round will commence immediately after the Student Application Round (i.e. 2 – 23 March 2021) commences, Participating Employers would have the flexibility to arrange/complete their selection/offer/appointment processes in the manner that best fits their schedules. Participating Employers should however be mindful of the following key milestones:

     

    a. student interns will have to complete their internships the summer and/or winter of 2021; and

     

    b. student interns’ eligibility must be verified by the Hong Kong Securities and Investment Institute before they can commence their internships.

  12. How will the recruitment teams of Participating Employers receive applications from students?
    Students will submit their applications via the online platform of the WAM Pilot Programme website (URL: https://www.wamtalent.org.hk). All student applications, according to the choices of internship positions as indicated by the students, will then be electronically posted on the employer portal. Email notification will be sent to employers to keep them posted of the number of applications received every day.

  13. Do Participating Employers have complete discretion in selecting suitable candidates for their internship positions?
    Student applications will be posted on the portal of the employers to which the students have applied. Employers are free to conduct any suitability assessments as they see fit to select the most suitable students for their internship positions.

  14. A student applicant can apply for as many internship positions as he/she wants. If a student receives more than one offer from different Participating Employers, what should he/she do?
    Students are allowed to take up more than one internship position provided that:

     

    a. each internship position is offered by a different Participating Employer; and

     

    b. the internship periods do not overlap.

     

    If otherwise, the student concerned should discuss and sort out with the Participating Employers involved to ensure that the internship periods do not overlap.

     

    If need be, the Hong Kong Securities and Investment Institute may assist in liaising with the Participating Employers concerned on the internship schedules. Participating Employers should thus ensure that the Offer Lists are sent to the Hong Kong Securities and Investment Institute in time.

  15. How will unfilled or unmatched internship positions, if any, be handled?
    In circumstances where no applications are received from students for any of the posted internship positions or that no suitable students can be identified after the selection/recruitment process, the Participating Employer concerned may request the Hong Kong Securities and Investment Institute to forward other student applications to her for additional rounds of selection assessment. This arrangement will be subject to the availability of unmatched student applicants (i.e. those who have not been recruited by other Participating Employers) and the consent of the students concerned.

  16. Is there any target allocation of internship positions for each university?
    There is no such target allocation. Participating Employers should select the most suitable student applicants based on job requirements.

  17. Will the Hong Kong Securities and Investment Institute keep records of students’ applications under the WAM Summer Internship Programme?
    As the Summer Internship Programme will run for another three consecutive years from 2020 to 2022, and that certain conditions may apply to successfully-placed students for their subsequent applications, the Hong Kong Securities and Investment Institute will keep the records of students’ applications for control purpose. All personal data will be dealt with in accordance with the Personal Data (Privacy) Ordinance (Cap. 486).

  18. Can students commence their internships as soon as they have entered into employment contracts with their Participating Employers?
    Internships should only commence when student interns have completed the verification process with the Hong Kong Securities and Investment Institute, during which the eligibility and studentship status will be verified against the original documents provided by the student interns. Any internship commences prior to the verification process would not be eligible for the subsidy from the Government under the WAM Summer Internship Programme.

  19. What is the purpose of the “watchlist”?
    In the course of running the WAM Summer Internship Programme, complaints about either the Participating Employers or student interns may arise. If any complaints are substantiated, the Participating Employers and / or student interns concerned will be put on the “watchlist”.

     

    The “watchlist” will also include Participating Employers and / or student interns who are found to be knowingly in breach of the eligibility requirements of the WAM Summer Internship Programme.

     

    Participating Employers and / or student interns on the “watchlist” are not allowed to participate in the initiatives under the Pilot Programme to Enhance Talent Training for the Asset and Wealth Management Sector in future.

  20. Will the amount of subsidy be adjusted in the future?
    For each year of the WAM Summer Internship Programme, the Government will subsidise a Participating Employer up to 75% or $7,000 (whichever is the lower) of the honorarium granted to each internship position lasting a period of 4 weeks, up to a maximum of 8 weeks. The Government has no plan to adjust the subsidy level so far.

     

    Meanwhile, the honorarium level is determined by the Participating Employers having regard to their own pay scales/policies or industry benchmarks/market rates. The honorarium level must be in compliance with all relevant statutory requirements.
  21. How do Participating Employers claim for the honorarium paid to student interns?
    Participating Employers must submit an original copy of completed “Subsidy Claim Form” together with all relevant supporting documents to the Hong Kong Securities and Investment Institute within 60 calendar days from the last day of the internship, or the last day of the last internship if more than one student intern with different internship periods are recruited. If the deadline falls on a Saturday, Sunday or public holiday, the deadline will be the next working day. Late submissions will not be processed.  

     

    The supporting documents required are as follows:

     

    • copies of the employment contracts of the student interns; or alternative document (see below) if Participating Employers have confidentiality concerns;

     

    ­   - an original company letter (with company chop and signed by an authorised signatory representing the company) certifying that the student intern (with relevant details including full name, Hong Kong Identity Card number) is under its employment. The company letter should specify the relevant employment details including job title, contractual hours, remuneration, period of employment, and other relevant terms of employment if applicable (e.g. leave, MPF, etc.);

     

    • originals of the Attendance Record of the student interns, duly signed by the student interns and respective supervisors;

     

    • originals of the Receipt Acknowledgement by the student interns with respect to the honorarium paid by the Participating Employers;

     

    • completed Performance Evaluations on the student interns, duly signed by the student interns and respective supervisors; and

     

    • completed Evaluation on the WAM Summer Internship Programme by the Participating Employers.

  22. When will Participating Employers receive the subsidy on the honorarium paid to the student interns?
    It will take approximately eight weeks to complete the claim processing procedures, subject to complete and satisfactory supporting documents being provided. If the supporting documents are incomplete or inconsistent, the processing time will be longer as clarifications from the Participating Employers will be needed.

  23. How will the Hong Kong Securities and Investment Institute perform random checks on student interns?
    The Hong Kong Securities and Investment Institute will conduct random checks on the student interns at the employers' offices to see how well they are adapting to their internship positions as well as to oversee how the WAM Summer Internship Programme is progressing.
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For Students

  1. Who are the students eligible to apply for the internship positions under the Summer Internship Programme 2021 (“SIP 2021”)?
    All full-time undergraduate students of the 22 accredited degree-awarding higher education institutions^ who are residents of the Hong Kong Special Administrative Region and will continue his/her undergraduate study after the internship period, and are lawfully employable in Hong Kong are eligible to apply for the internship positions.

     

    ^ 22 accredited degree-awarding higher education institutions in Hong Kong include Caritas Institute of Higher Education, Centennial College, Chu Hai College of Higher Education, City University of Hong Kong, Gratia Christian College, HKCT Institute of Higher Education, Hong Kong Academy for Performing Arts, Hong Kong Baptist University, Hong Kong Nang Yan College of Higher Education, Hong Kong Shue Yan University, Lingnan University, Technological and Higher Education Institute of Hong Kong of Vocational Training Council, The Chinese University of Hong Kong, The Education University of Hong Kong, The Hang Seng University of Hong Kong, The Hong Kong Polytechnic University, The Hong Kong University of Science and Technology, The Open University of Hong Kong, The University of Hong Kong, Tung Wah College, UOW College Hong Kong, and Yew Chung College of Early Childhood Education.

  2. I have participated in the past Summer Internship Programme. Can I apply for internship under SIP 2021? Can I apply for internship positions of the same job category as my previous placement?
    Yes, past student interns can apply for internship positions of any job categories under SIP 2021 as long as they fulfil the eligibility criteria as a student applicants.

     

    There are NO restrictions on the number of internship positions that a student can apply. In other words, a student can apply for as many internship positions as he/she wishes. According to paragraph 11 of the Summer Internship Programme : Guide for Students (2021), a student may also take up more than one internship position. Yet a student should give due consideration before deciding how many internship positions to take up in the end.

     

    Past student interns who fulfil the eligibility conditions as listed in question 1 are welcome to apply for internship positions under SIP 2021. The positions can even be of the same job categories of the internships taken up under past SIP. Such students are however encouraged to consider internship positions of a job category different from their previous placements and/or offered by a different Participating Employer to broaden their exposure.

  3. I am studying at one of the 22 accredited degree-awarding higher education institutions listed in question 1, but I am currently on exchange overseas. Can I apply for the internship positions under SIP 2021?
    Yes, as long as you fulfil the eligibility criteria as a student applicant, you can apply for the internship positions under SIP 2021. Participating Employers will arrange their selection process in light of their own operational needs upon closing of the Student Application Round (2 March – 23 March 2021). It will be entirely up to them whether they will consider special selection / interview arrangements for students not being in town during their selection period.

  4. I am an exchange student holding a student visa studying at one of 22 accredited degree-awarding higher education institutions listed in question 1. Can I apply for the internship positions under SIP 2021?
    One of the eligibility criteria of SIP 2021 is that student applicants should be residents of the Hong Kong Special Administrative Region and be lawfully employable in Hong Kong when they apply for the internship positions. According to the regulation of Immigration Department, non-local students of full-time locally-accredited local or non-local programmes at undergraduate level or above whose study period is not less than one academic year may take up internship subject to the following conditions:

     

    i. The internships must be study/curriculum-related and be arranged or endorsed by the institutions they are studying in; and

     

    ii. The duration of the internship is up to one academic year, or one-third of the normal duration of the relevant full-time academic programme, whichever is the shorter.

     

    There is no restriction on the nature of work, level of salary, location, number of working hours and employers for the internship arrangements. If you need additional information regarding to this regulation, please refer to the “Employment during the Study Programme” under FAQ section of Immigration Department under link https://www.immd.gov.hk/eng/faq/imm-policy-study.html.

  5. I am a non-Chinese student with moderate proficiency in Cantonese. Can I apply for the internship positions under SIP 2021?
    As long as you fulfil the eligibility criteria as a student applicant, you can apply for the internship positions under SIP 2021. It will be up to the respective Participating Employers to consider whether a student applicant will be recruited as an intern with due consideration of his/her overall suitability.

  6. I am currently taking up a part-time job at a financial institution while pursuing undergraduate study at one of the 22 accredited degree-awarding higher education institutions listed in question 1. Can I apply for the internship positions under SIP 2021?
    As long as you fulfil the eligibility criteria as a student applicant, you can apply for the internship positions under SIP 2021. It is, however, strongly advised that you communicate your personal circumstances with respective Participating Employers as soon as practicable to ascertain whether there would be, for example, issues arising from possible conflict of interests.

  7. Can I start the internship right after accepting the offer?
    Internships cannot and will not commence unless the HKSI Institute has completed the verification process with respect to the students concerned. Specifically, the HKSI Institute will check the eligibility of students against the original documents provided by the students. All verification should be done and confirmed by the HKSI Institute prior to the commencement of internship. Any internship without confirmation from the HKSI Institute will not be eligible for SIP subsidy under the Pilot Programme to Enhance Talent Training for the Asset and Wealth Management Sector (“WAM Pilot Programme”).

  8. What information and documents should I submit when I apply for internship through the online e-Application portal?
    You are required to input personal and academic information as well as your choices of internship positions via the online Application platform. Participating employers may require additional supporting documents other than curriculum vitae (“CV”). You need to upload full set of documents in a zip file (file size limit of 10MB) with filename structure as follows: surname_givennames.pdf.

     

    Students can also prepare and upload a video CV in “.mp4” or “.mov” format (file size limit of 150MB) to his/her account profile as additional information for PE’s consideration.

     

    The documents should be ready beforehandas each login session is limited to 30 minutes.

  9. Can different versions of CV be submitted to different employers?
    Yes. Each time when you apply via the online Application platform, you can either submit the same set of documents for all selected internship positions, or prepare different sets of documents to different internship positions in the same application.

  10. If I receive more than one internship offer, what should I do?
    Noting that many students would like to acquire as much internship exposure as possible during the summer or winter vacations, they are allowed to take up more than one internship positions offered under the SIP 2021 provided that:

     

    a. the internship positions are offered by different PEs but can be in the same or different job categories; and

     

    b. the internship periods do not overlap.

     

    If you receive more than one internship offer from different Participating Employers and wish to accept them all, you should discuss with your potential employers to arrange your internship in accordance with the two conditions stated above. You may request assistance from the Implementation Team of WAM Pilot Programme to liaise with the Participating Employers concerned in arranging non-overlapping internship periods.

  11. Can I change the internship start date or end date if I have other commitments during summer?
    Applicants should discuss with their Participating Employers and agree on the internship period including the start and end dates.

     

    It should be noted that internships cannot and will not commence unless the student interns concerned have completed the verification process. All verification would be done and confirmed by HKSI Institute prior to the commencement of internship.

  12. What if I am unable to come in person to the office of the HKSI Institute to complete the verification process?
    You have to undergo the verification process or you cannot commence your internship. You should contact the Implementation Team of WAM Pilot Programme as soon as possible should you encounter any special circumstances preventing you from coming in person to complete the verification process.

  13. Will the HKSI Institute keep records of students’ applications under the Summer Internship Programme?
    The Summer Internship Programme will run for three consecutive years from 2020 to 2022. Records of student interns who have participated in the Summer Internship Programmes will be kept by the HKSI Institute until completion of the WAM Pilot Programme and then returned to the Financial Services and Treasury Bureau afterwards. All personal data will be dealt with in accordance with the Personal Data (Privacy) Ordinance (Cap. 486). Personal information of all unsuccessful student applicants will be destroyed after 18 months from the submission date of their applications.

  14. Is it mandatory for student interns to attend the Readiness Briefing before commencement of internships?
    The purpose of the Readiness Briefing is to prepare student interns to better adapt to the business environment. Though attendance is not mandatory, we strongly advise student interns to do so to learn proper business etiquette and to get to know the other student interns of the Summer Internship Programme.

  15. I understand there is a “watchlist”. What is the purpose of this?
    In the course of running the Summer Internship Programme, complaints on either the Participating Employers or student interns may arise. When such complaints on any Participating Employer and / or student intern are substantiated, the Employer and / or intern will be put on the “watchlist”.

     

    The “watchlist” will also include Participating Employers and / or student interns who are found to be in breach of the eligibility criteria of the Summer Internship Programme.

     

    Participating Employers and / or student interns who are on the “watchlist” will not be allowed to participate in the Summer Internship Programme and other initiatives under the WAM Pilot Programme in future.

     

    Further, if it is found that the Participating Employers and / or student interns wilfully and knowingly make false statements or provide wrong information in their applications for the Summer Internship Programme, the respective regulators (for Employers) and universities (for interns) will be informed of such incidents. There may also be attendant legal consequences.