When to apply for masters?
I will be applying to Msc Finance programmes for 2024 at a number of the top UK & European schools.
I currently have a high 2:1 grade from a non target, but I am very confident I will graduate with a 1:1 and a decent (700-720) GMAT
Should I apply when applications open in October/November, or wait until I have my Christmas exam results bringing me up to a 1:1? I will also have my GMAT done before Christmas.
Thanks in advance
Hi Prospect in IB-M&A, the silence is deafening, sorry about that.... Any of the threads below helpful?
More suggestions...
Hope that helps.
Bump
went to target masters, I recommend you apply as early as possible (you obviously need GMAT first).
In the first rounds, criteria is a bit loose and it's less competitive. the more you wait, the less available spots there are. If you have GMAT before the First is set in stone, just apply and say Expected First?
For target masters, 700 GMAT + First from non-target may be a bit weak depending on your experience. Isn't average GMAT at Oxford and LBS something like 760 and 730 respectively? You need to push more and aim for higher GMAT ideally. Work experience and strength of essays will be important for you.
Thanks for the response.
I'd happily apply and say expected first, but would they not request a transcript showing that I currently have a first? Right now my average is about 68, so it wouldn't be a complete lie.
Regarding the GMAT, I'll definitely push for a high score like you mentioned. I've just started studying and plan to sit it before applications open in October. I have decent experience with 3 internships totaling 15 months, my current summer internship is Big 4 M&A so hopefully that stands to me.
I'm going to cast quite a wide net with the programmes I'm applying to. Right now I'm looking at:
1: LBS MFA
2: HEC MIF
3: LSE MIF + MSc Finance + PE
4: Bocconi MSc Finance
5: A few European programmes (SSE, RSM, HSG, Imperial)
I didn't plan on applying to Oxford due to the ridiculous GMAT required and also the fact that it is a very academically rigorous programme.
Just say Expected First like everyone does - it's not a lie and you can put in commentary when you expect to have more clarity.
Well done on getting Big 4 M&A! Yes some people have stronger work experience but that M&A experience will also help you in recruitment during the masters.
Your plan on schools seems reasonable and some will be harder than others. Again, high GMAT and relatively early application can make the difference.
I might be biased because I'm in the UK but I think Imperial is much better than SSE and RSM. I am not knowledgeable enough to rank HSG.
In general with finance masters, only the top are really worth it. If you are not accepted this year, it's not the worst idea in the world to try securing strong internships to fill a year and reapply for next year's intake. That might seem like a step back but then you'd also have a stronger profile during the masters, which can increase the odds of stronger role afterwards. Keep this in mind as it's better for your long-term career.
maybe a bit off the topic, but since you are all very knowledgable in the comments - do people without finance experience stand a chance for Oxford?
I went to Russell group uni, did management and then 2 years worked in good company but non finance related role. and want to get into 2024 MFE Oxford. Apart from GMAT do I stand any chance?
Although alumni I talked to said yes, I'm very sceptical the more I read here...
Well, you don't lose anything by applying.
Obviously it's hard to tell without the other factors, but if you graduated with a strong 1st from a good Russel group uni (assuming you're in the U.K.), you should probably apply. One thing to note is that the course is financial ECONOMICS, so your application might look worse if you don't have a solid number of econ modules under your belt and also no finance work experience.
PS: not to dishearten you, but I’m always a bit careful when talking to alumni. After all - they got in and have a more positively skewed perception. Obviously I don’t know how your convo with one went, but just something to keep in mind. The MFE programme is probably the most competitive finance masters in the U.K..
Firstly, thank you for your reply!
Secondly, unfortunately I have 2:1, but 0.2% from 1st (I saw some statistic from their open days that 30% students enrolled don't have 1st class). I did management and had some econ and finance courses and I mean I have to aim for 740 for my GMAT to compensate that.
But yeah very sceptical because of my experience, and I've started recently applying to some finance jobs and got offer for an audit job in big 4, however I'm not so sure if it will improve my application and also it will take so much of my time for my GMAT studying (since I will have to sit 3 ACCA exams). So I'm in dilemma should I accept it and perhaps not be able to prepare for applications at all, or not accept it and still keep searching for more finance oriented jobs, but perhaps have none for my application.
As I can see you work in audit?
Sorry for going off topic, but honestly the only people I can talk about this is online...
Definitely true about the alumni, but I saw some of them without really good uni abroad (and they admitting to me that is it very low ranked uni) and no experience. but on the other side, some have like 5 internships at JP, MS, GS and so on, so it is really hard to tell...
Re 30% enrolling with a 2:1, do you know if this is for the Oxford MFE specifically, or just across their masters degrees?
To be honest, their application page says:
“You should hold, or be predicted to achieve a first class or strong upper second class undergraduate degree (with honours), or the international equivalent. If your degree result is lower than this, it is very unlikely your application will be successful.”
I don’t think you would be at a too big of a disadvantage applying with a near 1st.
However, unfortunately, I do think that a 740 GMAT is an expectation rather than something that would strengthen your application massively. Take a look at the averages from the last few years:
https://www.whatdotheyknow.com/request/821738/response/1965506/attach/4…
They’ve been growing steadily, and for example, in 2021 the avg was 754.
I think with your stats (provided you get a 740, and depending on how reputable your undergrad uni is) you should be able to get into any other good business school in the U.K. for their MFin.
I’d be happy to chat more about my experience of working in audit or masters programmes I’ve been researching/am planning to apply to. Feel free to msg me on here.
I think any big 4 exp should strengthen your application, especially if you don’t have too many internships under your belt. Even though I am trying to leave asap, it’s still a professional environment where you get a lot of responsibility and have to work under pressure.
Regarding the first point, it was for MFE specifically. During virtual Q&A I think in 2021, I remember someone asked about how many people get in with 2:1, and they said 30% has 2:1, the rest 1st. I just looked through my screenshots, but unfortunately I didn't take it. But I'm 99% certain they said that percentage. They will have a virtual open days in couple of days, so it might come up again.
And for the GMAT, I know it's an expectation rather than an advantage... although I think I might struggle with it. And thanks for sending this excel sheet - very useful! However, I do know 2,3 people that had like 710 in GMAT and got in, but that was 2,3 years ago. But yeah definitely should aim for 740-50.
I hope so! I will try Oxford, LSE, LBS and perhaps Imperial (although wouldn't be happy with Imperial because £30k or more for an OK degree).
That would be amazing if we can chat! Thanks a lot! Honestly, I don't have a lot of people to chat about this, because at uni my course wasn't finance oriented and tbh I wasn't that interested as well. Hopefully I can help you as well with my research for the masters because I have been doing it for a while haha
Since I joined WSO literally yesterday I can't send messages yet, I have to wait for 2 days. But since I need to confirm/decline my job offer on Monday/Tuesday... if you don't mind I'll ask you couple of questions here about the audit and then later we can switch to messages; I'm really not fond of audit and doing ACCA, but do you think it's doable while studying for GMAT, were first 3 exams really hard for someone with not so much knowledge in accounting? Also, not sure how to frame it to Oxford in my application about why AGAIN I didn't get a job in consulting/finance because they are really keen on seeing experience there rather then in anything related. I mean I did work in a good and large company (non finance/consulting) for 1 year and 6 months where I did work in professional environment and gained a lot of soft skills but just the idea I have to work again something I don't want to is exhausting, also while working on masters application. But I know it's Big 4...
And if I may ask, what are the reasons you want to leave audit?
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