I enrolled in a part-time MSF program at a tiny liberal arts college while working, right after graduation. I decided the program was not a good fit for me (didn't think I needed an MSF) so I considered dropping out and just continuing to work.
I wanted a graduate degree (I was insecure about my shitty undergrad unversity) so I stupidly applied to an average part-time MBA program thinking that would be a good option (think SEC schools, Bama/UTk/LSU/UGA). I was rejected due to a lack of work experience. I am not sure if I should just put school all off altogether for the time being, or finish out the MSF and apply for an MBA later in my career?
I'm also not sure about my exit opps in the next 6 months to 1 year given my experience...I'm feeling like a failure given my current status.
BACKGROUND:
- 10 months as a credit analyst at a large auto finance company (think finance subsidiary for Ford/BMW/Toyota, etc.)
- Promoted to Commercial Credit Underwriter, currently 3 months into the role (I pretty much assess the risk of extending lines of credit and/or providing real estate financing to large auto dealerships)
- Non-target, graduated one-year ago
- Currently bringing in $58-60K all in (base + bonus) in a low COL area.
What is your end goal?
In the next year or so, I want to go into a portfolio manager/relationship manager role if I were to stay in the Commercial Credit industry. I really don't want to stay in this area of finance so I'm looking for a way out, but I am not sure what roles would be a good fit for me.
To be clear, I am not looking for the typical roles most monkeys on this forum seek out. It seems like a graduate degree in finance or business would "check the box". I just want out.
As far as wastes of money go, getting a grad degree for the sake of having one ranks pretty high up there. If it doesn't serve a specific purpose you're just giving your money away. That MBA rejection was the best thing that could have possibly happened to you.
Seems like you've got a good gig and make decent coin for a recent college graduate-why not maximize your opportunities in that space and continue to build out your resume? You've already shown that you can be promoted. Once you've got a solid block of experience (both professional and extracurricular), then you'll be better positioned for a top MBA down the road (2-3 years) if your career plans REQUIRE one (switching industries, employer sponsored for promotion, etc). Make sure you nail the GMAT to counterbalance the GPA.
As for the MSF-depending on what it's costing you and your career goals it's not a terrible credential to have-it signals a commitment to finance, can potentially offset a "soft" major, and at the very least shows you can handle analytical coursework for your future b-school apps. What have you spent so far, how much do you hate it, and how long do you have left? That will go a long way in determining whether or not you should finish. In the meantime try to figure out what specific career you have in mind.
Solid post.
I'm three classes into the MSF, with seven left to go. I've spent $14K so far and I have $44K in student loan debt. If I finish the program I'll have about $85K in debt.
I am not sure what I want to do next because I'm not sure what my experience will help me qualify for.
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