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The Importance of Part Time Jobs in Hong Kong

The challenges of the real world can help us realize our true potential by teaching us many precious lessons that will always come in handy. Every student comes across a phase when there are too many questions about life after graduation.

The challenges of the real world can help us realize our true potential by teaching us many precious lessons that will always come in handy. Every student comes across a phase when there are too many questions about life after graduation. Well, that’s obvious though, isn’t it? However, we have seen more often than not that a majority of career experts advice the fresh graduates to acquire some part-time job experience to sharpen their CV and improve their chances of finding an appropriate job in future. This way, they can also expand their horizon of meeting new people working in the same domain or various other fields. In fact, it won’t be wrong to say that internships, summer jobs while studying, and part-time jobs are essential for young learners who want to make a big impact in their life.

In general, non-local students residing in Hong Kong are not fascinated by the idea of taking part-time jobs, whether paid or without stipend. However, there have been some amendments in the laws which have made it much easier for the foreign students to take up summer jobs, internships, and other such assignments during the study. This structural change ensures that more young minds will take up jobs and partake in this mission of economic growth which would simultaneously help Hong Kong develop as one of the educational hubs in the region.

What’s the need for Part time jobs?

For the non-resident students, the tuition fees depend a lot on the level of study and the choice of program. In addition to that, there are plenty of other expenses during the study that contributes to the rising cost of education, for example, course materials, stationery, graduation fee, and more. That’s why, in recent times, it has been observed that an increasing number of students were taking up part-time jobs to offset the increased cost of education. However, in this article, we will give you a run-down on the points that describe the benefits of working part-time instead of full time, from an employees’ point of view.

The recent changes in trend have made it obvious that more and more employers now prefer part-time workers over full-time staffers, considering the cost-effective part that comes into play. With that being said, it becomes imperative that individuals should sort out their preferences when it comes to part-time jobs. For family-oriented guys, there is nothing better than getting an opportunity to work while doing their family chores at the same time such as picking up their kids from school. Similarly, there are some individuals who think that regular 9-5 job is making it difficult for them to pursue their hobbies/extracurricular activities.

More free time at your disposal

It goes without saying that the biggest advantage of going for part time jobs, is the increased spare time, in which too much can be explored in terms of pursuing a hobby. For those individuals lacking the most required academic credentials for their desired job, a part-time work environment is conducive to obtain the necessary certifications needed to ramp up their career. Most individuals may use this position to move up the career ladder in their respective field. Part-time jobs also capture the fancy of those individuals, who follow their artistic pursuits like writing, painting, and poetry and various other endeavors.

Unlocks new doors of opportunities:

It is often the case that any given company might not offer full-time positions due to unavailability of openings. At such time, workers can accept part-time jobs to establish themselves as the potential candidate, when a full-time job opening becomes available. Part-time working also facilitates on-site learning and helps a worker gain essential skills that can be put to great use. After all, it seems rational from an employer’s point of view as he may have reservations about hiring an experienced but incompetent person and would rather consider hiring an eager person on a part-time basis for he/she shows a stern desire of learning the trade.


There are more than these aforementioned reasons that can illustrate the benefits of taking part-time jobs, but it all boils down to an individual’s preference. Even though working part-time has its fair share of benefits that may disrupt the notion of the perks of having a full-time job, it is purely a subjective matter of preference. There is an array of benefits associated with working part-time such as improved quality of life, better opportunity to earn and save, and the freedom of cherishing ample time at your disposal. 

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Personal loans are unsecured offerings by banks and NBFCs and can be a handy tool in your times of dire financial needs. There is so much being said about personal loans. Still, people in India do not know everything. One of the most common aspects that people are still unaware of is the things that can affect your personal loan interest rates.

While applying for a financing alternative, one would love to get low-interest personal loans. However, since borrowers are unaware of the factors that can affect it, they are unable to control the rates offered.


For this, the ideal solution is to learn about things impacting a personal loan interest rate. In this article, we will share with you the six key factors. Continue reading.

1. Income Level

The first on our list of factors that affect personal loan interest rate is your income level. If you have a low-income level, then it is almost impossible for you to get low-interest personal loans. However, if your income level is more than average, then it becomes comparatively easier for you to bargain for a better interest rate. You can use a personal loan EMI calculator to know about your monthly EMIs.

2. Repayment history

The next thing that can have a direct link to your personal loan interest rate is your repayment history. If you have borrowed funds in the past which have not been paid on time, then this can be mentioned in your track record. It will make financing agencies consider your transaction as a comparatively risky one, which is why they will be prone to increasing your personal loan interest rate.

3. Defaults

In case you have failed to pay your dues in the past, then that too can be a reason why you won't get low-interest personal loans. Defaults can be one of the biggest drawbacks when it comes to the interest percentage on a personal loan. Therefore, it is always recommended that you pay all your dues on time and never skip on any.

4. Credit Score

A CIBIL or Credit Score is a ranking that allows financing companies to gauge your profile as a potential borrower. Based on this particular rating, they can decide whether to offer you low-interest personal loans or higher one. Hence, maintaining a Credit Score of more than 750 is always recommended.

5. Relationship with bank

Even though this might not be directly connected to the interest rate of your personal loan, it can still have a great impact. If you are a customer of a particular bank for many years and have a good relationship with the organization, then they will be able to accommodate your request for low-interest personal loans. Besides, they will even be able to give you other facilities like a flexible tenure or a floating interest rate.

6. Organizations’ reputation

Lastly, if you are an entrepreneur or a self-employed individual, then your organizations’ reputation also has a relationship with the personal loan interest rate that you receive. In other words, if you have a bad market reputation of not paying your suppliers or something similar, then it can take a toll on your personal loan interest rate.

NBFCs provides borrowers with pre-approved deals for services like personal loan, home loan, business loan, and much more. These deals can cut down the loan processing time in half and make it hassle-free.

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