Best options after Undergrad

laxmonkey:

Don't mean to be a dick but you gotta use the f'ing search function it's been discussed over and over

THIS...

UT has a pretty good, one-year MA Econ program. I won't speak to the MSF as I'm inherently biased. All of the schools you mentioned are great, even though UVA isn't a MSF program.

Don't be offended by anything that follows as it's a critique and meant to be only helpful, not belittling,

You suggested 3 different masters programs, two of which actually go together. Econ and Policy.

I know a guy who's getting his MPP at Yale and he just graduated in May so you definitely can go straight into it. He also has been pursuing that route since the summer after his freshman year. It's possible to get in out of undergrad if you're driven.

If you get an MSF, you listed three routes that are all very general. I would highly recommend learning what each does and how to get there.

Consulting MBB. All three do different things, though all have some management consulting if I'm not mistaken (Accenture might not).

Hedge fund IB for two years as an analyst to HF. You could get there from S&T or AM but IB is likely a better route. And what type of fund? Debt? Equity? Commodities?

Financial advising BB PWM or Northwestern Mutual? This is going to be pretty far from the previous two jobs you mentioned.

None of the above jobs really are similar or lead to policy. If you want to do policy, do a MA Econ and then go get the MPP and work in DC or for the Fed. It's a good route and one that I admire, but very different than anything you could do with a MSF.

the best way is to start working relevantly with your ample background. do you know any Fed Reserve Banks nearby? I'm thinking like St Louis, Kansas City ones or Chicago.

Second best way is a MSF around the area or a MAEcon. But as always, more expensive and excessive on your UT Background

Hayekian:

I am currently a junior in college (Texas) and have a lot of decisions to make before I graduate. I am unsure about what I will do primarily because I have a variety of options. As of right now, I plan on getting a MA in econ, but most schools do not have one or there programs are not good (The only 5 I am considering are NYU, Michigan, Georgetown, JHU, and UT). I've looked into some MSF programs and was wondering which have good placement in areas like Virginia, DC, or TX. The MSF will give me more knowledge and experience with financial markets. I hope to get into consulting, work for a hedge fund, or possibly be a financial adviser. I am really interested in monetary policy and plan on eventually getting a MPP, but I cannot right after undergrad.

Programs for MSF:
CMC
Texas
Virginia
MIT
Vanderbilt

Any advice on the schools or what I should consider?

You're a junior so I am going to advise you to focus on finding a job, first and foremost. I'd also try and talk to people in finance and get some internships to dial in those career choices. Right now the list you have is all over the place. Anyone can be an FA so if that is the path you want I'd suggest developing those cold calling and sales skills and running with it. Working at a hedge fund can be achieved most commonly after doing a couple years in banking or being a quant. If that is the goal then a good MSF that gives you IB opportunity might be the path to pursue. A quant degree (MFE) might be another path. As for consulting, try and get a Big4 consulting gig out of college. Or if you want MBB focus on getting into that top MBA program after 3-4 years of work.

Just get a job at the Fed then. Pretty sure they recruit at all decently ranked undergrad econ programs. Pay isn't terrible and it's the most relevant experience you can get.

If it's a 1 year program, then analyst.. why else would people go to B-school just to go back to IB?

You'd go in as an analyst. You certainly can't apply as both at the same time, they're decidedly different levels. People do come in at both levels, but unless you do a direct promote you'll need an MBA and prior work experience to come in at the associate level

Thank you.

drexelalum11, do you have a link to the M&I article? I read it on and off and don't remember it discussing an Mfin and a quick search didn't turn anything up.

Deutsche Bank advised me to apply to both, and I did.

I've got a 1st round on Friday, so I'm prepping for that.

If I make it to 2nd round, it may be then or after they make a final decision about placement (Summer Analyst/Summer Associate).

It was in a Q&A that there is a decent response, and then a couple times in comments that you can google. Here is the relevant Q&A bit:

"The Value Of A Master’s Degree

Q: I’m currently a non-business undergrad looking to get into trading. I graduate in one semester and have been trying to get a summer job at banks, but my best shot may have just imploded with Bear Stearns’ collapse. They probably have no time to worry about interviewing people at this point, even those who made it to final rounds.

If that happens and it falls through, I would be left with no internship and no other offers, giving me almost no shot of getting into finance.

Getting an MBA seems worthless post-graduation since only lower tier schools would even consider someone with no work experience. However, I was thinking a Master’s Degree in Finance or related major could serve as a segway into a finance career. I’m considering such a program at a well-known undergraduate business school currently - do you think this is my best option for getting into finance?”

Inquisitor:

A: As you said, it would definitely be a mistake to get an MBA without work experience first; it won’t help you get into finance at all if you go to a lower-tier school.

The Master’s program you mention will not give you a significant advantage; although it is at a good school, it’s not equivalent to an MBA.

The main advantage it would give you is time - you would have more time to find jobs because you could take advantage of the full-time recruiting cycle in the fall.

Before doing this, you should check on how many banks recruit there in the fall and how many people get jobs at banks via that program.

But if you don’t have an internship or full-time offer lined up currently, the Master’s program is probably your best option.

As the economy worsens and hiring slows down even more, I suspect more people will make this same decision and head back to school."

I'd also search around WSO some, I know I've seen this question addressed before.

sofib09, that's interesting. I'm guessing you're an MSF student with prior work experience?

Well...it's complicated.

It's my second master's degree. This kind of makes things a little...different...for my case, I suppose.

However, I do currently have a job at a multi-family office, which is asset management/investment advisory. We operate a hedge fund of funds and invest a lot in private equity.

The interview today, interestingly enough, was just basically a nice conversation with zero technicals. My background is psychology/HR, so they were mostly interested in why finance, why banking, the usual.

I think I held my own, and I hope I make it to round 2 for DB in a couple of weeks!

:-)