Do your academic goals wane as you begin your career?
I'd like to preface this with the fact I'm currently hoping to begin at the undergrad level next year in the UK, with an interest in breaking into banking. For some reason, I find myself considering an opportunity to study at a top US university following on from undergraduate -- whether that would be a Master's or MBA at Harvard/MIT/Stanford etc.
I find it interesting because of its unique potential to uproot temporarily, restart in a new setting, and learn at a highly respected US university while you're still young -- maybe even picking up a different subject. But I'm torn as to whether this is an opportunity worth forgoing the salary in the meantime, taking on the sheer cost of the degree, or really if a Master's/MBA is even that useful, given it isn't at all necessary to break into banking.
I understand many british students on here would've probably had the same grandiose ideas, and I wanted to ask those who have been successful in breaking into finance if this attraction subsides once you begin a job and see the money coming in, or if it remains.
I know it is a decision each person will make by themselves. But I'd love to hear your thoughts and what your reasoning was to get a better idea of what I should really be considering.
Final year student at Oxford here. This is a great discussion and one I wish more British people had. It doesn’t enter the fray of what is considered “standard” and I don’t know why.
I know a few people who are doing finance masters at MIT and Princeton. They will almost certainly enter the workforce in the US.
Moreover, these programmes at MIT etc are not actually that competitive if you have a good brand name from a British university
Definitely agree. Hope we can get some productive replies in the thread to try give more perspective on the matter.
In all honesty, I wish it was a topic that is considered even as far back as A-Level to give more options. The only problem is, by the time people come to applying, it is hard to adapt your profile to fit the American-style of university applications if it is an afterthought.
There is, of course, the problem of funding such an expensive degree but I have seen there are still some very generous scholarships.
The UK is currently in the midst of a brain drain of its highly skilled workers often to America and has been going on since 2008. This brain drain isn't talked about as frequently because the UK still has net emigration and has highly skilled workers from South Africa India etc who are desperate to come to London but a lot of skilled Brits are leaving since salaries are often still pegged to pre 08 exchange rates (2-1) then and now (1.25-1) USD to GBP. There has also been less economic growth and unlike America, the finance industry in the city doesn't actually help the UK economy in the same way as most of the deals done there are outside of the UK while most deals in the US are actually for American companies.
Doing a Masters in Business Administration (MBA) in America is totally worth it if you go to the right school and are serious about moving there long term as it allows you to recruit for Investment Banking Associate Roles. A masters in finance is not really a thing in America like it is in the UK and obviously vice versa with MBA.
An MBA costs over 200k all in but unless you get a job in London for a firm that transfers you into the US office, it's the only way to emigrate to America (US immigration laws are very strict and attending a US University is one way in) without a green-card or citizenship unless you marry an American.
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