Taking Masters Degree to Break into IBD
Hi all,
I really wish to get some precious opinions and suggestions for my dilemma right now.
I am currently in my 3rd year of college in Singapore, my university is solid in terms of academic
reputation, like around top 30 globally, BUT defintely no reputation at all in IB industry either
in APAC or in the world. IBD has always been my dream career since college (I know I am so stupid
not trying to apply US target school in high school in the first place). However I do know how much
gap between the IBD standard and myself in terms of either school reputation or personal networking.
I tried all BB for 2014 summer in SG office, as expected, all screwed up, even have done much preparation
before interviews. Therefore I decided to enhance my background before trying next time. So I think
about taking a Master in US or UK. (I know MBA in US is definitely a more typical pass but I just wanna give it a try
right after stepping out school) Does any seniors have any suggestions on what kind of programmes could
help most if my final target is ibd in APAC(HK,SG,CN)?
A bit about my background, applied math major, GPA 3.8 internships in BB middle office, consumer and telecomm(no ibd-related experience), no research background, some academic awards and thats all. I will try to get a solid GRE or GMAT and also catch up some research experience if necessary during next half year.
So basically MFE seems like an option but I know MFE is for career in quant or trading or risk managemnet etc.. But I really wanna do ibd... is it very wierd to apply ibd after an MFE? Any other master program in target school? Does it help for getting into ibd if I do a very unrelated master but in a highlytargeted school? (like doing a master in mathematics in Upenn just for example). Anywhere I need to work on in order to apply?
Thanks a lot for reading such long and sily post. I really appreciate your suggestion. Many thanks!
What about a Master in Finance program? I know a couple of guys that have gotten into IBD after doing one of these year-long programs. Only issue is I have no idea how easy or hard it would be to transfer to APAC.
Thanks a lot! Sounds good but I found that lots of these M. Fin programs either requires working expereince or requires prior finance education background. And also seems like there are not so many M. Fin programs in solid schools the states. (Princeton and MIT have but they are actually MFE and they are both very hard to get in. Especially Princeton)
There are plenty of MFin programs at solid schools in the states. @TNA should be able to help you here. Since you have a nice quant background maybe try to target top schools that have quant-focused MFins. Columbia, Oxford, and UofT come to mind. Alternatively, you could just stay home...doesn't INSEAD have a MFin now?
Thanks a lot! INSEAD MFin requires at least 5 or 6 years of working experience btw.
You can apply to ibd jobs with an MFE. The issue is you might be pigeon holed. I would worry more about sponsorship since you are an international candidate. IMO, I would look at INSEAD, LSE, St. Gallen, etc. Probably more well know in Singapore than some of the other US schools (except MIT and Princeton).
Thank you very much! Honestly speaking based on what I saw, correct me if I am wrong, in BB ibd Singapore, still most of peeps are from UK 3 targets and US ivys... I am very interested on the MFE idea, could you elaborate a bit on being pigeon holed? I do know that maybe 99.9% of mfe graduates go for quant, trading, risk etc.... So my plan is a bit off the track I know. How would you compare an mfe at a solid school such as NYU with a very unrelated course but in a more traditional target school like Master in mathematics in UPenn? Thank you again!
Yeah, I mean I don't know too much about the Singapore market, but I would imagine that they hire from international business schools and a select few top programs. Most of the US programs are beneficial in the US, but unknown outside this country. I think LSE would be a great option. Maybe some other UK or Continental European schools.
I found this on the INSEAD Page. Maybe they only say they will consider people with less, but really only admit people with work experience. Not sure as it is a new program.
Professional Experience
The INSEAD Master in Finance does not have an absolute requirement for years of work experience, although four to six years is preferred. Applicants with less experience who demonstrate strong quantitative skills and exceptional maturity through their professional and personal experiences will also be considered.
Thought I'd weigh in on this issue as I am attending one of the 3 big unis in Singapore as well. As you said your uni was ranked very highly (Top 30-ish), I am guessing it is NUS. Regardless, none of the big 3 unis place well into BB IB. Some guys in sales and AM, but mostly BO and MO roles.
In Asia, you need to either attend a brand name target or have connections; I'm assuming that you don't have the latter, so simply go for the big brand name schools:
UK: LSE (MSc Finance), Oxford (MSc Financial Economics), Cambridge (MPhil Finance), LBS (MiM)
US: MIT (MFin), Duke (MMS)
[NOTE: I left out Princeton as it is unlikely that he will get in there without a FO internship)
I know there are other great programmes in the UK (UCL, Imperial, Warwick, etc.) and in the US (WUSTL, Claremont, Villanova, etc.), but in Asia brand trumps everything - that's why I included LBS and Duke despite them being management degrees.
Crack a 720+ on your GMAT with a 49+ quant score, and you'll be a solid bet for all of the above schools - they'll love your quant background, and UK schools especially focus on strong academics over work experience.
This is of course, only if you're dead set on BB IB. You can definitely secure a Big 4 Advisory or Boutique IB position from your current university.
Thanks you very much! I appreciate your detailed answer and you do have a very clear idea on my situation lol. Just one last thing, Do you have any idea that how should I reach out to boutique IB around SG? Firstly lots of boutiques do not have office in SG or even in APAC, secondly there must be some local regional boutique but seems like I can't even find their website. And they definitely will not have online structured internship application portal or sth. Will really appreciate if you could share a bit. Thanks again!
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