Imperial Master for IBD Recruiting?
Hi guys,
I have received an offer to study at Imperial Business school for the MSc Investment and Wealth Management programme (my only offer this year). I am very torn on going or not and would appreciate any advice as the deadline to accept is approaching fast!
I graduated with a first-class Honours in Finance from UNSW (which is a target in Australia; also honours in Australia is a bit different from the UK, it is an additional year to get honours). I am from China so I dont have working rights in Australia. The lack of working rights make looking for IB jobs in Australia very difficult.
I’ve been working in Audit at one of the big four in Sydney for a month now. So I am also contemplating the alternative route to transfer to TS and then hopefully break into banking. But looking at profiles on LinkedIn for people who made similar moves, this will take at least 4-5 years.
So basically I see myself having three options:
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Do the master at Imperial and hopefully break into banking in London.
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Do PwC and lateral my way into banking
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Do PwC for one year, reapply to more prestigious programme this year for entry next year (LBS, LSE etc; I got waitlisted by LBS this year 😭)
Which route do you think I should choose? Really appreciate any insights!!!! Sorry for the long post.
Hey there!
These are my own thoughts on your situation, so please take this with a pinch of salt.
First of all, when you talk about IBD recruiting I assume you're mainly targeting M&A, is this correct?
I had a quick look at the modules taught in the MSc programme at Imperial and they seem to focus a lot on mathematics, derivatives and the asset management of finance. The programme outline looks great, however I don't think most of these courses are directly related to M&A. When applying to M&A/IBD roles you may get asked why did you apply to an investment and wealth management programme and then decided to target M&A roles (as opposed to targeting other more "relevant" roles to your MSc).
I will let other fellow monkeys chip in, but I would consider waiting for an extra year and applying to more relevant MSc programmes; not only in London, but also in Paris and Milan. HEC Paris and Bocconi get a lot of students into top BB banks in London (even non EU students).
Imperial is a great school, and I think it is investing a lot to build its business school reputation, but I feel like it's still a bit too scientific (and not business-y enough).
Best of luck!!
Hey!!!
Thx so much for your detailed reply - really appreciate it! Your advice definitely gave me a lot to think about.
I will ask Imperial to see if they will allow me to transfer to the MSc Finance. If they do allow (I suspect they wont, but will try anyway), would you still suggest that I reapply this year to other programmes?
Do you also have any insights on how challenging the job market in London is right now, given that we are heading towards a recession?
No worries, this is what WSO is for!
If they allow it and you do not want to wait an extra year, I don't think the Imperial brand will put you at a disadvantage against other London schools. In most cases the most useful aspect about business schools is the network you create. I go to a Top 3 business school in France and there's a lot of alumni working in IB in London. Even if we have never met, they will be very nice and in most cases agree to have phone calls with me (just based on having the same school on our CV). Imperial College isn't the most common school for IB/M&A, but it isn't rare either. In any way it's a top school, but in the case you don't get to switch programmes I would highly encourage you to go for LSE, LBS, Bocconi, HEC Paris.
I can only speak for now, but so far the situation isn't that bad. Banks are still recruiting lots of juniors (internships and entry-level roles), but the situation may be very different next year (or even in a couple of months). Nonetheless, with the high turnover rates of IB, if you get into a good school you shouldn't have any problem landing a good job.
Keep working hard and you'll definitely make it!
Just finished my MSc Finance in Imperial and happy to provide more insight if needed!
Hi IB_Boi,
Thank you for sharing your thought!
I was referring to the switch from auditing to IB will probably take about four to five years. Yes, to TS is a lot faster, have seen people who were able to make the move within a year. However, as I don't have working rights, the position in TS would also need to align with the list of skills approved by the government which limits the positions I can apply for.
Hey mate,
PM me can help you out was in a similar position and ended up moving to London and it’s being going very well.
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