Career advice - next move?
Hi WSO, hoping for some career advice. will explain the situation in as much detail as possible.
I just graduated from LSE/UCL in a non-econ/stem subject.
I’ve been accepted to Imperials MSc Finance and Accounting.
I just finished a summer internship at a BB in a non IBD division (corp/com banking). I won’t know for a couple of weeks if I have the return offer.
I also have an offer to join a grad role in the corp banking division of an international bank but with quite bad reputation, low pay and limited exit opportunities.
While I would be happy to return to the BB role, I am more interested in trying to get into IB. Unfortunately, in past interviews I’ve always lacked the technical knowledge and therefore feel the MSc could be very useful in that sense. It would give the opportunity to re-recruit with limited hassle for SAs, OCs and grad programs with stronger technical abilities. And in the case of returning to the BB I could have the technical foundation and qualification to lateral into IB at some point.
Unfortunately, I don’t know if I have the return and although it’s a bad grad role, it’s still a job nonetheless.
The other big drawback is that I’m unsure how I would finance the MSc and living in London. I would most likely have to take on debt - so, is it worth it?
How should I proceed?
Was in a similar position a few years ago. Decided to go for Imperial F&A MSc and landed a Graduate position in a BB/EB in London. Would say it's definitely worth it if you play the long term game. For sure £40k seems like a huge amount today, but less so if you consider the changing trajectory it can give to your whole career + the connections you can make. To give you some perspective, I was about to accept (before my MSc) a £50k full comp salary in London in a non-IB banking role with very low salary increase and exit opportunities in the next 5 years, while I'm now on £150k+ with possibility to reach £200k+ levels in the 2/3 coming years. I've also made lifetime friendships with friends from very affluent families in India, Mexico, Lebanon, etc, which is also something I could leverage in the future if I want.
How long ago was this? Heard placements for Top MSc has been in a declined. Considering OP was already at a target shouldn't he just continue recruiting?
Was 2yrs ago for me. Have some friends currently in the Masters this year and they also got strong offers (GS, CVC, Centerview, Moelis, OTPP, etc.)
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