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I won't say it is completely impossible to have a part-time internship, and this indeed really depends on location.
For European prorgam, I guess school that are closed to Paris, Frankfurt, Zurich, Amsterdam and etc. stand some chances, though it is not easy (at least easier to get working premit for part-time student job when compared to full-time pernament job, i.e. the main challegue is not the visa, but where one have the time for it, and able to find one)
of course london is very great itself, but given the length of program (1 year) it is not likely that one will be able to find a part time or intership before graduation.
Therefore, if you want a second chances, I think European school which is target for BB in london surly worth consideration (HEC, Bocconi, SSE, HSG for sure, i heard RSM and ESADE somehow counts but I feel that they are quite surely a bit afterwards and have to be really careful (one is Spain, one is only one year); one of two more school in Paris may be still in the target list but I am not sure)
Of course, though the UK master prorgam is only one year (and thus less number of time you are try), but for London, it is clear that the top UK school are way more common and famous, given there are much more alumni working there. It is more convivent for interview (though may not be too important sometimes as some company will pay the fee to fly you).
If I want to fight for a role in UK, I will surely put Oxbridge, LSE, LBS at the top. it will be a question when choosing Imperial (b-school), UCL, Warwick, to HEC, Bocconi, SSE, HSG, and I think the answer really varies from one to one.
Concerning the name of university of the master degree........I will agree somehow you said, and that's why I always doubt if it worth to go to do a master oversea if one plan to work in China afterwards. If it is a famous university, then the return is not something to be worried about. If it is very likely that one will be able to get some internship and some good first experience before going back, things are also fine. But if the university is not really that famous, and have to be verified by looking into the ranking, or to be backed up by the name of a city, well.......it is a question, at least to me.
for exchange program....i seriously doubt if they allow a Chinese student to go for exchange back to China. It is definitely a violation to the intention of exchange program (expose to new culture), and I guess it is very likely their will ban this in regulation (just like what CEMS did if I remember correctly). of course Double Degree is another story, I will say that's completely reasonable.
P.S. if the business school itself is okay, and it is the best business school in her own country, it is likely to have very good exchange partners in China, or indeed also in some other country like some way better US business school.
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