Click to expand for viewing details
For Participating Employers
- 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.
- 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.
- 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.
- 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).
- Is there any flexibility in the number of internship positions provided by Participating Employers for the 2020 intake?
There will be no quota on the number of internship positions to be made available for the 2020 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.
- 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.
- When will the student application process commence for Summer Internship Programme 2020?
The Student Application Round will start on 3 March 2020 and end on 24 March 2020.
- 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.
- 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.
- 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.
- What is the timeline for the selection process?
While the Selection Round will commence immediately after the Student Application Round (i.e. 3 March – 24 March 2020) 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:
- 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.
- 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.
- 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?
For Summer Internship Programme 2020, students are allowed to take up more than one internship position provided that:
- 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.
- 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.
- 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).
- 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.
- 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”.
- 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 monthly 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.
- 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.
- 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.
- How will the subsidy be distributed if Participating Employers have outsourced salary payment to an agent?
Irrespective of the salary payment arrangement, the employment relationship is established between the Participating Employer and the student intern. In order to process subsidy claims by Participating Employers, the Hong Kong Securities and Investment Institute will perform verification of the documents provided by the employers (including student interns’ Attendance Records and Receipt Acknowledgement). In cases where pay slips are issued under the name of an outsourced agent instead of the Participating Employer, documentary proof on the relationship between the outsourced agent and the Participating Employer (and any other supplementary information as may be required) will be requested to process the claims.
- 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.
Click to expand for viewing details
- Who are the students eligible to apply for the internship positions under the Summer Internship Programme 2020 (“SIP 2020”)?
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.
- I have participated in the past Summer Internship Programme. Can I apply for internship under SIP 2020? 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 2020 as long as they fulfil the eligibility criteria as a student applicants.
- 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 2020?
Yes, as long as you fulfil the eligibility criteria as a student applicant, you can apply for the internship positions under SIP 2020. Participating Employers will arrange their selection process in light of their own operational needs upon closing of the Student Application Round (3 March – 24 March 2020). 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.
- 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 2020?
One of the eligibility criteria of SIP 2020 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 am a non-Chinese student with moderate proficiency in Cantonese. Can I apply for the internship positions under SIP 2020?
As long as you fulfil the eligibility criteria as a student applicant, you can apply for the internship positions under SIP 2020. 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.
- 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 2020?
As long as you fulfil the eligibility criteria as a student applicant, you can apply for the internship positions under SIP 2020. 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.
- 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”).
- 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.
- Can different versions of CV be submitted to different employers?
Yes. Each time when you apply via the online Application platform, you can choose up to 5 different internship positions in a single application. 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.
- If I receive more than one internship offer, what should I do?
Noting that many students would like to acquire as much internship exposure within the summer vacation, the internship placement arrangement for SIP 2020 is enhanced by allowing each student to take up more than one internship position provided that:
- 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.
- 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.
- 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 24 months from the submission date of their applications.
- 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.
- 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”.