When Carmen Li (HKUST Full-time MBA Intake 2024) walked into her first MBA class at HKUST, she wasn’t just carrying years of legal experience—she was carrying questions. Could a lawyer really step into the world of business strategy? Could she move from protecting deals to shaping them?
Her story unfolds as one of raw curiosity, calculated risk, and doors that swung open in ways she never anticipated.
The Specialist’s Trap: When Expertise Feels Like a Cage
For years, Carmen thrived in IP law, winning high-stakes cases and saving clients millions. She had even invalidated a Value Adjustment Agreement to avert 140M RMB in losses for her client—a career-defining moment for many lawyers. But success came with limits.
“Law teaches you to minimize risk,” Carmen says. “Business asks you to take it.”
That gap was the reason she chose HKUST’s MBA—a chance to learn the language of growth, not just compliance. For Carmen, the MBA wasn’t about abandoning her legal roots; it was about adding new dimensions to her skill set.
She knew the transition wouldn’t be easy. Lawyers are trained to dissect problems within strict regulatory frameworks. Business leaders, on the other hand, need to think in terms of markets, growth, and opportunity. Carmen wanted to bridge that gap—and the MBA became her bridge.
Building the Business Brain: Learning the Numbers, Speaking the Language
Terms like NPV and balance sheets once felt foreign. HKUST’s core courses—Corporate Finance and Financial Accounting—changed that.
“It wasn’t easy,” Carmen admits. “But every class made me more confident in conversations I used to avoid.”
The rigorous curriculum gave her the tools to understand the numbers behind decisions. But the real turning point came outside the classroom. Case competitions and team projects pushed her out of her comfort zone.
Working alongside engineers, planners, teacher, entrepreneur and more taught her that leadership isn’t about having all the answers—it’s about listening to different voices and finding common ground.
“In law firms, you work with lawyers. In the MBA, you work with people who see the world differently. That diversity changed how I think.”
This collaborative environment helped Carmen develop a mindset that was less about risk avoidance and more about strategic opportunity.
A World Beyond Hong Kong: The Chicago Booth Exchange
Her exchange term in Chicago opened new horizons: U.S. market insights, emerging trends, and a network that spans continents.
“It showed me how big the world really is—and how many ways there are to create impact.”
This global exposure complemented her Asia-focused learning, giving her a broader perspective on strategy and innovation. It wasn’t just about academics; it was about seeing possibilities she had never imagined before.
She explored business models popular in the U.S. that are just emerging in Asia, and she connected with a cohort of hundreds of students, expanding her professional network far beyond her original circle.
“The exchange reminded me that growth happens when you step outside your comfort zone—geographically and intellectually.”
Testing New Waters: Strategy and Venture Capital
Three internships. Three different worlds. From corporate strategy to venture capital, Carmen discovered that her legal background wasn’t a limitation—it was leverage.
“The MBA gave me a safe space to experiment,” she says. “And every role taught me something new about myself.”
Supported by the HKUST MBA Career Professional Development Team, she worked on go-to-market strategies for a Singapore-based VC firm, explored corporate strategy at a research institute, and interned at a biomedical-focused venture capital fund. Each experience reinforced her belief that the MBA was more than a degree—it was a launchpad for reinvention.
For legal professionals or those from non-traditional backgrounds considering an MBA, Carmen’s advice is simple:
"Be brave. If you never try, you’ll never know how far you can go.”