When NYU Abu Dhabi graduates its third cohort of students next week, young people from nearly 60 countries will walk across the stage, shake the hands of assembled dignitaries and either head off to graduate school or ceremoniously enter the workforce. If history is a guide, rather than returning to their home countries, up to a third of those 134 graduates will be staying in this country to begin their careers.
More than six years ago I moved here to head up the Career Development Center at NYU Abu Dhabi and to pioneer a programme to ensure our students are employable upon graduation.
Six years on, 94 per cent of our graduates are employed or pursuing graduate studies within six months of graduation. Our alumni have gone on to study at Oxford as Rhodes Scholars, to start new ventures as entrepreneurs, to study medicine and law and to join some of the best professional firms around the world. Our Emirati graduates are serving in the military, running businesses, advising their government (and in one case, heading a ministry of it – 2014 graduate Shamma Al Mazrui is now the Minister of State for Youth Affairs).
Almost 30 per cent of our first two graduating classes are employed in some 37 companies in four emirates.
It’s incredible to witness students from all over the world come to study, live, and learn in Abu Dhabi. For many of them it is their first time in the Middle East, and it’s inspiring to see them grow to care deeply about this country, and to choose to stay and contribute to the vision and economic growth of the UAE. Class of 2015 graduate, Lan Duong, a water engineer at AECOM, is proud that “in 30 years, entire cities will stand on what are now my project zones.” I hear a similar sense of passion from graduates at just about every event we hold on campus, whether it’s the young man composing music for film, TV, and theatre, in Mexico, the young man managing wealth funds, or the standout young woman now developing business strategies across the GCC and Mena.
When I first arrived in Abu Dhabi, I quickly learnt that it would be no easy task to create a culture of career development to help our students gain the necessary professional skills, and employers to adapt to a new model of employer relations better suited to a liberal arts institution.
For our students we adopted a specific advising model. One size does not fit all at a liberal arts university filled with students from more than 100 nationalities and speaking more than 100 languages. We build relationships with each student, helping them develop their career goals and professional lives. We urge students to incorporate their skills and interests as they gain commercial awareness through internship experience and our services.
With employers we have worked to create a new internship model for the region. While NYU was well-known, the NYUAD brand was untested in those first few years. And unlike many universities, NYUAD does not award academic credit for internships, nor do we use a placement model to help match students to opportunities.
We worked with our students and local organisations to design an internship programme that builds skills and allows students to gain experience, rather than a direct means to employment. I think we can safely say that this new model is working. In the past two years our students have held over 300 internships off-campus with 140 different companies.
To be sure, the employment and internship market in the UAE is still developing.
Students, as guest residents when they study, have precious little time to find work once they graduate; immigration rules allow for a grace-period of just 30 days once visas are cancelled. Moreover, employers utilise something called a “just in time” hiring model, meaning that jobs are often advertised and filled at the last possible moment. Both pose challenges to graduates that those of us in the career services field must work to address.
But through partnerships and conversations with employers, NYUAD is working hard to ensure that graduates are well-positioned to negotiate the competitive job market.
This academic year, NYUAD hosted more than 20 employer information sessions to help educate students on employment opportunities and industry trends in the UAE. Nineteen organisations held recruitment activities on our campus for internships and full-time jobs, conducting more than 160 interviews. And in March, more than 25 start-ups from Abu Dhabi and Dubai were on campus recruiting NYUAD and non-NYUAD students for internships and full-time work.
Helping students gain practical skills by connecting them with internship and employment opportunities is just one step in the lengthy process to career success for alumni anywhere. But it’s a process that’s working, as evidenced by the successful graduates who are engaged in meaningful employment.
I cannot wait to see where the next steps of our graduates, the Class of 2016, take them. But one thing I am certain of: many will find themselves right here in the UAE.
Hazel Raja is assistant dean of students and director of the Career Development Center at NYU Abu Dhabi
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
KEY%20DATES%20IN%20AMAZON'S%20HISTORY
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Generation Start-up: Awok company profile
Started: 2013
Founder: Ulugbek Yuldashev
Sector: e-commerce
Size: 600 plus
Stage: still in talks with VCs
Principal Investors: self-financed by founder
Formula%204%20Italian%20Championship%202023%20calendar
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The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
FULL%20FIGHT%20CARD
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The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
Killing of Qassem Suleimani
Sui Dhaaga: Made in India
Director: Sharat Katariya
Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav
3.5/5
COMPANY%20PROFILE%20
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ABU%20DHABI'S%20KEY%20TOURISM%20GOALS%3A%20BY%20THE%20NUMBERS
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Cricket World Cup League 2 Fixtures
Saturday March 5, UAE v Oman, ICC Academy (all matches start at 9.30am)
Sunday March 6, Oman v Namibia, ICC Academy
Tuesday March 8, UAE v Namibia, ICC Academy
Wednesday March 9, UAE v Oman, ICC Academy
Friday March 11, Oman v Namibia, Sharjah Cricket Stadium
Saturday March 12, UAE v Namibia, Sharjah Cricket Stadium
UAE squad
Ahmed Raza (captain), Chirag Suri, Muhammad Waseem, CP Rizwan, Vriitya Aravind, Asif Khan, Basil Hameed, Rohan Mustafa, Kashif Daud, Zahoor Khan, Junaid Siddique, Karthik Meiyappan, Akif Raja, Rahul Bhatia
Company%20profile
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Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
The biog
Favourite colour: Brown
Favourite Movie: Resident Evil
Hobbies: Painting, Cooking, Imitating Voices
Favourite food: Pizza
Trivia: Was the voice of three characters in the Emirati animation, Shaabiyat Al Cartoon
Brief scores:
Toss: Sindhis, elected to field first
Kerala Knights 103-7 (10 ov)
Parnell 59 not out; Tambe 5-15
Sindhis 104-1 (7.4 ov)
Watson 50 not out, Devcich 49
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Honeymoonish
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Retail gloom
Online grocer Ocado revealed retail sales fell 5.7 per cen in its first quarter as customers switched back to pre-pandemic shopping patterns.
It was a tough comparison from a year earlier, when the UK was in lockdown, but on a two-year basis its retail division, a joint venture with Marks&Spencer, rose 31.7 per cent over the quarter.
The group added that a 15 per cent drop in customer basket size offset an 11.6. per cent rise in the number of customer transactions.
Mane points for safe home colouring
- Natural and grey hair takes colour differently than chemically treated hair
- Taking hair from a dark to a light colour should involve a slow transition through warmer stages of colour
- When choosing a colour (especially a lighter tone), allow for a natural lift of warmth
- Most modern hair colours are technique-based, in that they require a confident hand and taught skills
- If you decide to be brave and go for it, seek professional advice and use a semi-permanent colour
JOKE'S%20ON%20YOU
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
The Gandhi Murder
- 71 - Years since the death of MK Gandhi, also christened India's Father of the Nation
- 34 - Nationalities featured in the film The Gandhi Murder
- 7 - million dollars, the film's budget
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