Hey guys,
I graduated in May '13, and the job hunt has been rough. Real rough. As in, I'm having a tough time getting interviews, despite all the standard stuff (cold-calling, cold-emailing, leveraging common contacts, using Linkedin to see who can recommend me to who, etc, etc). I graduated with a mediocre GPA from a pretty middling non-target state school. I can't even get interviews from recruiters/headhunters. I think that if I want to stay on the path towards working in finance (outside of sales gigs/CFP stuff), I'm almost certainly going to have to go back to school. Unfortunately, these is like NO data available on MFin programs. Obviously Princeton is awesome, and University of Phoenix is ass, but there are no solid numbers on the placement record at many of these schools so I'm a bit lost.
Firstly, is it worth it? Do MFin holders have any substantial advantage over candidates who simply have a bachelors in finance? I'm still going to be unqualified for anything other than an entry level job, so I need to know if this will actually give me a legs up.
Secondly, how the hell do I go about evaluating these programs? So many of these numbers are fudgeable and so many of these schools don't publish many relevant statistics (obviously).
I'd love to hear from anyone who is knowledgeable about this, but especially someone who holds an MFin. Tell me where you went to school, how it went, what the process was like, potential pitfalls, etc. I'm all ears at this point.
Thanks in advance.
I feel you, brother. I had a very similar background and now I have a decent enough gig with a very solid company, but it took me a long time to land it and it wasn't my first choice. Still isn't. I've caught the "going back to school" bug myself.
www.msfhq.com
And if you want placement data, check the individual sites for companies graduates have been hired at and check LinkedIn for where people who have the degree currently work.
Substantial? I wouldn't think so. In banking, for instance, you're still going to be going in as an analyst, not an associate. However, for me at least, the MSF is going to give me a chance. It's going to give me a proper institution on my resume, a chance to get the GPA I know I'm capable of, and the chance as a Poli Sci/Econ student to get actual finance training. Those three things are invaluable in my current situation.
@TNA is always a terrific resource, but you gotta do some research on your own. There are SO MANY MSF threads that you can search for, not to mention @TNA's site www.msfhq.com that literally lists all of the programs available and has student interviews for a lot.
Get your game face on, @emceedrive
Thanks for all your help. That website looks great, I'll definitely spend the next couple days pouring over it/ program websites. Given that my bachelors is in finance, I'm not sure there is much for me to gain academically, so I'll have to figure out whether its worth 40-70 G's for me to have another crack at OCR.
I went to one of the more popular msf programs so I'll give you my perspective. The general trend I see with these programs (not including MIT & Princeton) is that only a few kids (maybe ~3-5) in a given msf class are competitive for FO roles. The msf i went to had pretty solid ocr (some BB ib, lots of mm ibanking, top consulting firms, econ consulting, ER, asset management, trading, etc), but only 5 ppl got those types of jobs out of 30 kids and two of them were doing the 4 yr combined bs/ms. Moreover, those same 5 ppl were pretty much the only ones to get any FO interviews. So you really need to ask yourself what you want to do and if you can realistically attain it. The msf programs make it seem like banking/ER/PE/AM are typical placements, but in reality only a small percentage of the class will get those roles.
Not to sound like a clown, but if you want something you have to go and get it. The MSF will give you the story, but if you execute around it you'll get more than your fair share of interviews. If I settled for what I could 'realistically attain' then I'd be doing some FLDP program or something and not going through IB recruiting. Nothing wrong with that, but I'm looking for a challenge, and I like to think that I've got what it takes to compete. That really should be the mindset.
I was just letting op know that getting accepted into one of these programs is relatively easy compared to getting a FO position. A lot ppl in my program thought the msf was an automatic game changer, but clearly that wasn't the case. The msf worked out for me, but I was able to get interviews and a solid offer mostly because I was good enough going into the program. The same held true for other ppl who got solid offers.
To be quite honest I have no intention of becoming a FO banker. It just isn't for me. I went to undergrad hoping to end up a management consultant; realized by my junior year that I wasn't going to have a realistic shot at that. So unless something miraculous happens and I end up at MBB or a comparable management firm, I'd really just be trying to build solid valuation experience at wherever I end up post MFin. In the long run I'd like to build a skillset that would do me well in venture cap, but after how poorly my experience has been with recruitment and my job hunt, I'm really just after gainful employment that will build transferable skills.
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