Applied Economics vs. MSF for DC Agencies

I guess the purpose of the "degree" would be networking as much as anything else. It would hopefully be part-time. Enrollment would allow me to meet the "qualifications" and also to qualify for the Pathways programs for current students, which I've heard is FAR easier than entry as a recent grad.

Are you aware of any of the agencies you mentioned that do post-grad internships that would eliminate the need for an additional degree? My biggest issue is currently networking. Sure...the quant skills seem like they could really help make certain employers take me more seriously. But being stuck doing school in Austin means I can't meet people in D.C, and that has been a real problem for most of the fall. I've also been rejected from some "recent grad" programs simply because I am not close enough to graduation, and turned down an interview because I didn't have $1000 to spend on an airline ticket to D.C., so I kinda feel stuck in limbo.

Any suggestions? How about Applied Econ vs. Finance at JHU? I'm not sure I trust the Applied Econ at Georgetown because it's fairly new, and isn't JHU's econ department better anyway?

Finance seems more targeted to what I want to do; however, the Applied Econ at JHU appears to include more training in quantitative skills and gives me the impression of being a much more rigorous program with more established contacts, which may or may not expand my options.

I think it helps to get as specific as possible. Here is a job posting in the competitive service from USAJobs which is exactly the type of job I am after and the type of job that I am trying to become more qualified for.

Agency: FDIC Title: Financial Institution Specialist

Job Description "Financial Institution Specialists perform developmental assignments and receive on-the-job and formal classroom training designed to provide practical experience in the risk management, consumer protection/compliance, resolutions and receiverships, and deposit insurance functions of the FDIC. Financial Institution Specialists assigned to the supervision function participate in the assessment of financial institutions to determine the existence of unsafe and unsound practices; violations of law and regulation; the adequacy of internal controls/procedures; the general character of management; and compliance with consumer protection, fair lending and civil rights laws and regulations, and the Community Reinvestment Act."

Qualifications: A Bachelor's or Masters meeting the following qualifications:

"One academic year of graduate study at an accredited college or university in accounting, banking, business administration, commercial or banking law, economics, finance, marketing or other related fields. In addition, has completed or will complete by June 15, 2014 at least 24 semester hours of combined undergraduate and graduate course work at accredited colleges or universities in business administration, accounting, finance, marketing, or economics that included at least 6 semester hours in accounting."

See, I am missing the 6 credits of accounting and would likely fall into the lowest bracket ("qualified") even if I DID have it. Vet preference typically only works within a competitive bracket. Furthermore, I have not yet figured out how to get a Disability Schedule A appointment in spite of having all the required documentation.

Last year, the FDIC hired three entry-level attorneys (and that ship has sailed as far as deadlines go). Vet pref and disability pref do not apply to attorney positions either.

Though the medical and Don't Ask, Don't Tell aspect of my discharge -- which is thankfully not on my DD214 but could be discovered through a records request by employers who don't accept an "Honorable" Discharge at face value, such as high security agencies and contractors -- and relatively short length of service (1.9 years) may make me "less valuable" than other vets. I still qualify for 5-point preferences within any hiring category ((1)qualified, (2) highly qualified, and (3) extremely qualified). I keep ending up at the top of category #1, though, and vet preference legally can't bridge categories but only help me to beat out other applications WITHIN a category (I've been rated "qualified" but "not among the highest category" about 7-8 times and not referred to the hiring authority).

I've been looking into the JHU Applied Econ program, and it appears to have little utility for those trying to break in, as most who do it are already established professionals. The MSF program also does not appear to have a great reputation, as the business school at JHU is new and has almost no standards. The M. App. Econ also has no standards for admission.

I'll keep applying for jobs on USAJobs, though the process is moving relatively slowly, and I've only made it to the hiring authority on 2/30 (plus one interview I had to decline). What if I applied to UT's MSF to burnish my finance credentials? The network isn't really strong AT ALL in D.C. but (1) it would be 100% free via the Hazlewood Act and (2) I wouldn't have to commit to it until May, by which time I would know if I have a solid job or not and (3) the Finance Department at UT (and McCombs generally) has a great national reputation that trumps all the D.C.-area schools except perhaps UVA's Darden. Could maybe get in with Deloitte et. al. in Dallas and then request a transfer to D.C. and then jump to an agency. Perhaps?

The Boston Consulting Group claimed my quant background is not currently strong enough for consulting purposes when I interviewed with them last year, and Deloitte tried to shuffle me into International Tax.

UT's Finance Dept ranks #14 though McCombs is primarily a regional school without a strong east coast network. I mean, who could pass up free, right, at least as a fall-back option?

GWU Elliot/Georgetown SFS/ John Hopkins SAIS - place very well to federal and other jobs (from White House to gov/fed/1-2nd tier strategy consulting) in DC area with almost any degree...Choose the one you like more (with economy/finance focus) and go for it.

PS I really don't think that UT Austin is even close reputation and network wise to any of the above mentioned schools for a federal job in DMV area.

Have you thought about becoming a Foreign Service Officer? It's definitely not an overnight career track, but if you pass the exams and get placed there's an economics career track.

As far as government and non-government agency placement, generically, economics degrees (BA, BS, MS, MA) have much greater demand since agencies and offices ranging from the the Federal Reserve, Peace Corps, and State Department to the FDIC, SEC, and Treasury Department have genuine economics roles, hence they have demand for these degree holders. I think the MSF is kind of a new and relatively unknown quantity in the government.

If you're interested in public policy (e.g. Mercatus Institute, Heritage, Brookings) then the MA is probably a degree more often obtained. George Mason, for example, has a nationally renowned economics MA and PhD program that is allied with the Mercatus Institute, a popular D.C. area libertarian think tank. The economics department is one of the few genuinely free market/libertarian departments. They place a lot of their graduates into public policy roles and the in-state rate is only something like $15,000 for the entire program.

BTW, it sounds like you are dealing with the frustration of USAjobs.gov. Unless you know someone within the federal government, even getting a job interview is a total crapshoot and a Hail Mary, particularly in the D.C. market where affirmative action, nepotism and cronyism rule the day. Some people on WSO (I won't name names) don't believe me when I say that there are roles that I applied for in the past (not anymore--got a great job now) where I could have literally taught a class in the role and where I know as a matter of fact that there weren't more than 200 people in the U.S. with the exact required experience that the role required that I had and I couldn't even get an interview for the job.

My advice to you is to make USAjobs.gov a tertiary source of job search. Even if you see a role that you are 110% sure you are qualified for, it will be 6 months (minimum) before you go through the entire process and start, even if you could get an interview.

I highly, HIGHLY recommend looking into private practice, public policy institutes, or into being, say, a public defender. I've had several clients who were public defenders at the time or in the past--it's literally some of the most phenomenal work experience you could possibly acquire. Pays about $50,000/year but gets you nice municipal benefits and insanely good experience. The heavy case load begins immediately. Honestly, if I could do it all over again I would have gone to law school, become a public defender in a county/town/city that I wanted to live, learned the local system real well, ingratiate myself with the judges and then open a private practice in criminal defense. You would make an absolute effing killing. These lawyers who specialize in certain counties or towns are getting clients who get into a bar fight to pay them $2,000 to get the charges dropped. It's not bad money for about 30 minutes of work on a Monday morning.

Since getting on with the federal government is nearly impossible based solely on merit (will require substantial luck without other factors) then I'd look into the municipal county and city governments of Maryland, DC and Virginia. Looks like the DC gov't has a half dozen jobs available right now for people with law degrees.

Thanks for the responses. As for public defense, my state does not really have this system. We usually have court-appointed private attorneys (who usually have some years of experience). We have PD offices in Houston and Dallas (and Maryland has a good number too). For the position in Frederick, the office there interviewed around 50 individuals for SECOND round interviews this past summer. Besides that, the legal market is extremely tight, and if you're going to get a job, you had better be preparing for it from the fall of the second year and have top grades and/or law review (which I do). I got a summer offer from ____ in September 2012 as part of a crap shoot and because the SEC didn't pay; therefore, I focused on antitrust courses, etc. I now find out that (1) this job no longer exists and (2) by the time I was belatedly informed of this fact, law firm hiring season had passed (to the extent it even exists for third-year students, which is not at all). Going into criminal-related law may not even be possible at this late date given the plethora of other students who have spent this time specifically preparing for this career path.

My options right now would be to apply for regulatory positions with no official financial training and hope for the best(which is what I've been doing). Also, some think-tanks, etc (though most prefer finance/economics training and/or experience in the field). At any rate, I appear to be operating at a huge disadvantage to to an inability to connect my interests to specific things that I've done or stuff that I've studied that appear on my resume or transcripts -- and trouble getting in the right networks.

For Econ MA's, there is SAIS (not an option this year since the deadline is too early), UT (free), and a few good ones not in the D.C. area. MSF - there is GW, which has a really attractive-looking program, but the prerequisite requirements are onerous, and I haven't done any of them. Fortunately, I have until May 31, and the average GMAT isn't that high. It still calls itself "highly competitive" whatever that means. Georgetown has Applied Econ -- again, onerous prereq requirements and an early deadline but still apparently considers applications until April 1.

What should I be doing, given my limited options and limited connections to the area? I've been looking for jobs/positions I could use to kill a year, ideally, in a related field, though that stupid History degree from no-name liberal arts school keeps getting in the way. Then, I'd be in a much better position for SAIS. Any tips?

Johns Hopkins (Carey NOT SAIS) has an MSF too. It's new, and it's in the area, but the GW one looks better, and my intuition tells me the Carey MSF does not place well.

The GMU MA is a little bit politicized. I am by no means a liberal; however, I am not a very good libertarian either. I am mostly against political ideology (it's possible -- see Asia). That could be an issue, so I'd rather avoid anything politicized.

Here's an interesting idea: Econ at George Washington, or Statistics with Econ electives? That might be an interesting way to present a relevant profile. I am an ISTP, so I'm very empirical empirical empirical (another reason practicing law is ok but not the best fit since INTJ's seem to do best in law). Ideas?