German MSF Programs vs More Reputable Programs

I have a dilemma. I am graduating with a degree in business administration from a small liberal arts university on the East Coast this spring... with a 3.0 gpa. I have two options:

1. Apply to German universities/ hochschulen with relatively free tuition in their Masters of Science in Finance programs. These programs start in the winter of 2013. Some of the schools I am looking at: University of Tubingen, Berlin School of Economics and Law, Ohm University of Applied Sciences in Nuremberg, Nurtingen-Geislingen University of Applied Sciences. None of these schools require GMAT, they only look at transcripts/ rec letters/ motivation letter.

2. Stay home for another year, study my ass off for GMAT, try to get as much applicable internship experience as possible, take extra classes at my local community college in math/ finance, learn a language, and apply to much better known b-schools in USA/ Europe for the next year (fall 2014).

I don't know what to do, because I don't really know how reputable the German schools are. I know that they are good in science/ engineering, and their free tuition is a great catch, but I just don't know if their alumni network and prestige is good enough to catch the eyes of IBD. Any possible advice on what I should do?

 

I have actually looked at the Goethe University in Frankfurt and talked to an individual that was in their MMF (Master in Money and Finance) program; he ended up quitting after a semester because the program was geared more towards theoretical applications of finance - a program more akin to preparing one for a future PhD. After hearing this, I immediately decided not to apply there. Also, I am not fully fluent in German yet, but after spending two years there, I will definitely be. However, I am interested in applying for work not only in Germany but in the middle east as well, as I have a middle eastern background and have 1 connection in dubai and 1 in qatar.

 

I don't want to sound too harsh, but all of the schools you mentioned are pretty shitty. It's just not worth it to move for Master's degrees like these.

The institutions you should look at are schools like WHU, Mannheim, Munich, Frankfurt, Cologne etc., those are the more reputable universities in Germany.

And btw, a university of applied science isn't even a really university, this might be another point to consider if you want to break into banking or MBB(RB) consulting..

 
above_and_beyond:
I don't want to sound too harsh, but all of the schools you mentioned are pretty shitty. It's just not worth it to move for Master's degrees like these.

The institutions you should look at are schools like WHU, Mannheim, Munich, Frankfurt, Cologne etc., those are the more reputable universities in Germany.

And btw, a university of applied science isn't even a really university, this might be another point to consider if you want to break into banking or MBB(RB) consulting..

Another question: considering those schools I mentioned, what type of finance jobs can one expect to get (if any) upon graduating with a MSc. from them? Also, can you elaborate on why they are shitty? Are the programs not adequate, or is it because they are not prestigious/ well known, or something else?

 
Best Response
madman91:
above_and_beyond:
I don't want to sound too harsh, but all of the schools you mentioned are pretty shitty. It's just not worth it to move for Master's degrees like these.

The institutions you should look at are schools like WHU, Mannheim, Munich, Frankfurt, Cologne etc., those are the more reputable universities in Germany.

And btw, a university of applied science isn't even a really university, this might be another point to consider if you want to break into banking or MBB(RB) consulting..

Another question: considering those schools I mentioned, what type of finance jobs can one expect to get (if any) upon graduating with a MSc. from them? Also, can you elaborate on why they are shitty? Are the programs not adequate, or is it because they are not prestigious/ well known, or something else?

I honestly don't know, but I highly doubt you will be placed in investment banking at a better bank. It's just not worth it to come to Germany and attend a MSc program at a university of applied science ("Fachhochschule") rather than at a regular university. And keep in mind that top institutions like LSE and the likes will give you much more options to move elsewhere than a MSc at a German university. Universities like Mannheim might be well known in the German speaking countries in Europe and also in London, but once you're planning to move back to the US, Africa, Asia it can get difficult.

Anyway, if you are set on attending a German MSc program, then try to get at least in one of the programs of WHU, Mannheim, Frankfurt, Munich (Business Admin with focus on Finance) or St.Gallen.

 

Why not apply to top European MSF/MiM programs? HEC, LBS, LSE, Warwick, Cass, etc. are all better than the schools Germany has and can probably place you. LBS has a video on their MiM page of a current German student who will be starting at McKinsey next year.

 
KKS:
Why not apply to top European MSF/MiM programs? HEC, LBS, LSE, Warwick, Cass, etc. are all better than the schools Germany has and can probably place you. LBS has a video on their MiM page of a current German student who will be starting at McKinsey next year.

If he really wants to work and live in Germany, he doesn't have to pile up €30k+ of debt to do a top master's degree like LSE etc., for this purpose a master in Mannheim, Frankfurt, Munich, etc. will be sufficient. Those universites will allow one to get the BB or MBB(RB) spot in Germany. However, if he wants to go back to the US or wants to move to other places, it might be better to attend one of the programs KKS listed to get the brand.

 
BepBep12:
You need to figure out why you're doing an MSF in the first place; seems like you're goal is IBD. How does an MSF fit into achieving that?

So the main reason why I want to do a MSc Finance program is because I did not get enough academic exposure to finance in my undergraduate studies. I had only a couple finance classes and had to pull some strings to do an independent study that delved into more advanced financial topics. I want to learn as much as possible and gain as much academic exposure to finance, which is why I initially decided to pursue a masters program in finance in Germany.

At the same time, I didn't want to rack up tons of debt, which is why these free tuition programs caught my eye. I had heard that the Bologna process has been revolutionizing the way education is perceived in Germany, and that they care way more about practical knowledge and experience in German companies/ banks rather than "prestige" of school. I am almost 100% sure that the curriculum is the same, whether at HWR Berlin or IE Business School, and that the difference in price is mainly the alumni and networking. I could be completely wrong though, but that's the impression I get.

I also want to pursue a masters program to demonstrate that I am quite capable of getting near perfect grades; my undergraduate gpa is not a clear indicator of my potential.... I goofed off a lot and was very immature for the first half of my college career. Also, I am not looking at only IBD; to be quite honest, I want to pursue an analyst position in IBD, consulting, or corp finance/ financial leadership development programs. I am not only looking at Germany/ Europe, but USA and the Middle East as well. Literally, anywhere that I can find adequate employment and a chance to move up.

Perhaps I might be casting my net too wide, but I have a lot of catch-up (and a lot to prove) and just want that initial exposure to demonstrate how hungry I am and how hard I am willing to work - in any field of finance that gives me the opportunity to prove my worth and gives me an opportunity to move up. Based on the responses given thus far, maybe it is best to wait and apply for much more prestigious programs in 2014; my only worry about that is that I rack up 30K+ in debt and then can't find a decent job afterwards.

 
madman91:
BepBep12:
You need to figure out why you're doing an MSF in the first place; seems like you're goal is IBD. How does an MSF fit into achieving that?

So the main reason why I want to do a MSc Finance program is because I did not get enough academic exposure to finance in my undergraduate studies...

At the same time, I didn't want to rack up tons of debt, which is why these free tuition programs caught my eye. I had heard that the Bologna process has been revolutionizing the way education is perceived in Germany, and that they care way more about practical knowledge and experience in German companies/ banks rather than "prestige" of school...

I also want to pursue a masters program to demonstrate that I am quite capable of getting near perfect grades; my undergraduate gpa is not a clear indicator of my potential.... I goofed off a lot and was very immature for the first half of my college career. Also, I am not looking at only IBD; to be quite honest, I want to pursue an analyst position in IBD, consulting, or corp finance/ financial leadership development programs...

.

I think these are definitely legit reasons, but think of all the tools at your disposal. Why not get a job in Corp. Fin. and get your CFA since you're not gunning for IBD and looking to avoid debt? You'd get the academic exposure to finance that you want and also avoid the huge upfront investment. Plus, even though some of the CFA is B/S no one takes the exam lightly (like it was easy to pass or something) and it'll add some credibility to your CV. IDK, I don't think an MSF is the one thing you have at your disposal, and could end up not turning out like you want it to.

'Before you enter... be willing to pay the price'
 

Are you a US student? Why exactly are you looking at German schools? If continental Europe is where you want to be I would look at INSEAD, St' Gallen, SSE, etc. I would advise to think this through if you are not a UK/Euro citizen. If you are a US kid looking for a program that won't rack up a lot of debt there are plenty of options.

 

Thank you above, TNA, Bep, future, bengigi, kks, and the rest of you with your help and advice. You all literally saved my ass from pursuing shitty programs at the schools I originally mentioned. I know a lot more now and have a much better idea of the different possible paths I can take to breaking in. Again, thank you all very much!!!!

 

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