Alexandoy
VIP Contributor
This issue is a common issue among the children of successful business owners. Which is better for the child to be successful – a master’s degree or just a college diploma as a support to a hands on training on the family business?
Most of the Chinese business owners I know have made sure that they children pursue higher education. It is not a good idea to be handling the family business just like that. If the business goes down then the child will have no career anymore. One actual example is Joseph whose parents own a big meat and fish canning factory. But he finished his masters degree and applied a job in a bank. Now he is an assistant vice president in the bank but is helping the family business as a consultant. I think that is a fairly good compromise. A good job can never be discounted because Joseph earns good money. When his parents retire then that is the time to take over the family business.
Most of the Chinese business owners I know have made sure that they children pursue higher education. It is not a good idea to be handling the family business just like that. If the business goes down then the child will have no career anymore. One actual example is Joseph whose parents own a big meat and fish canning factory. But he finished his masters degree and applied a job in a bank. Now he is an assistant vice president in the bank but is helping the family business as a consultant. I think that is a fairly good compromise. A good job can never be discounted because Joseph earns good money. When his parents retire then that is the time to take over the family business.