How Useful Is A Masters Degree?
How useful Is a masters degree. Is there any use to spending extra time to gain a masters degree trying to break into investment banking. Or is it more beneficial to gain an honours and then scramble to get a job. Having put time into networking and being able to travel anywhere to work; is it worth the extra year? In this situation you are studying at Scotland's Strathclyde Business School and have not graduated from your honours degree. You are looking to gain a position as an analyst and work your way through the industry. Do you do it?
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Based on the most helpful WSO content, the usefulness of a master's degree in breaking into investment banking can vary depending on individual circumstances. Here are some points to consider:
Another Shot at Recruiting: A master's degree can provide another opportunity for entry-level recruiting, allowing you to add another school to your resume and more time to network.
No Guarantees: It's important to remember that a master's degree does not guarantee a job. You might end up with an entry-level position that you could have obtained without the degree.
Opportunity Cost: Consider the cost of the program and the time you will spend. This is time that could be spent gaining work experience, which is also valuable.
Alternative Pathways: Some suggest starting in Big 4/Top 10 professional services firms and applying for M&A > TAS > advisory > audit in that order of preference. This could lead to a pivot to investment banking after gaining experience.
Current Offers: If you already have an offer from an investment bank, it might be more beneficial to take the offer and gain direct experience. Lateral moves within the industry are common after a couple of years.
Non-target to Target: If you're coming from a non-target school, a master's from a target school could improve your chances, but it's not the only way to break into the industry.
Networking and Flexibility: You mentioned being willing to network and travel anywhere to work. These are crucial factors that can sometimes outweigh the need for a master's degree.
In summary, while a master's degree can open doors, it's not the only path to an analyst position in investment banking. Weigh the costs and benefits, including the opportunity cost of time, against the potential networking and experience you could gain by entering the workforce directly. Tell me more about 2, you say? Let's dive into the history to see what we're referring to.
Sources: On the off chance Investment Banking doesn't work out for me, Is there even a point in investment banking?, MSc Finance: Is it Worth it?, https://www.wallstreetoasis.com/forum/real-estate/is-georgetown-masters-in-real-estate-for-me?customgpt=1, Masters in Finance after M.S. in Financial Engineering, yay or nay?
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