Master's for Economics?
Currently an undergrad studying Economics at a non target uni, but I am considering doing a Masters due to both enjoyment of the course and potentially improving job prospects.
I have started looking at 5 unis to do a master's at, all of which are either target or semi-target and top 10 in the country for Economics. Assuming I can actually get into them, is my following preference order ok, or considering costs, opportunities, etc or should I change the order?
Ideal:
Oxford (MPhil Economics) for £51.8k (2 years)
LSE (MSc Econ & finance) for £38k (1 year)
Very happy to go to:
UCL (MSc Economics) for £20.8k (1 year)
KCL (MSc Finance & Econ) for £22.7k (1 year)
Safety:
Bath (MSc Applied Econ for banking and finance) for £13k (1 year irl or 2.5 years online)
Based on the most helpful WSO content, your preference order seems reasonable, but there are a few considerations to refine your decision:
Oxford (MPhil Economics): This is a prestigious and highly theoretical program, ideal if you're considering a PhD or research-focused career. However, at £51.8k for two years, it's a significant financial commitment. If you're aiming for industry roles, the cost and time might not justify the return compared to other options.
LSE (MSc Economics & Finance): A strong choice for finance-related careers, with LSE's brand name carrying significant weight in the job market. At £38k for one year, it's expensive but offers excellent networking and career opportunities, especially in London.
UCL (MSc Economics): A solid program with a good reputation, especially for economics. At £20.8k, it's more affordable than LSE and Oxford, making it a great value-for-money option if you're looking for a balance between cost and career prospects.
KCL (MSc Finance & Economics): While KCL is a respected institution, its economics and finance programs are not as highly regarded as LSE or UCL. At £22.7k, it’s slightly more expensive than UCL but may not offer the same level of career opportunities.
Bath (MSc Applied Economics for Banking and Finance): A good safety option, especially given the lower cost (£13k). However, it’s less prestigious and may not provide the same level of access to top-tier finance or economics roles.
Recommendations:
If costs are a concern, UCL stands out as the most balanced option in terms of reputation, affordability, and career prospects.
Sources: https://www.wallstreetoasis.com/forum/school/uk-master-in-finance-advice?customgpt=1, European Master in Finance programmes (pre-experience), MSc Finance Profile Evaluation (LSE Finance, LBS Financial Analysis, Oxford Financial Economics), Which masters to choose?, https://www.wallstreetoasis.com/forum/school/rate-my-ukeu-msc-degree-options?customgpt=1
bump
Hey, I did graduate studies in Economics.
1) If you're doing this for interest mostly, this is the wrong forum to ask the question. You have professors who are literally paid for this kind of question, and you should already have a good relationship with them if you're interested in the subject and attend office hours. You should ask them which universities are best-positioned particularly around your areas of research / academic interest. If your professors are good and they like you, they might be able to put you in touch.
2) If you're doing this for interest, base your decision on the quality of academic output. I don't know how much they update it, but the Tilburg university rankings used to be good for this (I don't know which ranking you used, but KCL and Bath aren't in the Tilburg top 10 for the UK at least): https://rankings.tilburguniversity.edu/public/1
3) If you're doing this for interest, just be aware that MSc programs are mostly cash cows for universities, and the real academic interest comes at the PhD level. I don't mean to put you off at all here, it's a stepping stone.
4) If you're doing this for job prospects it's REALLY hard to give any view without knowing what job you're interested in. MSc are not at all the expectation for most jobs in Finance (except more quantitative or academic roles like HFs or ER) in the UK. I work in IB and MSc is really not needed or expected. If you have an existing job offer, go with that.
Hi,
1. That service at the Uni is how i came up with the 5 unis that i’ve mentioned as they all typically had the blend of academic output/research and job opportunities i was looking for.
2. I believe the Tilburg ranking were last updated in 2020 and I based the info on rankings from the the completeuniversityguides’ top 10.
3. I am aware of this and it is part of the decision making but i’m considering doing a PhD after 3-5 years in a job role as well so the stepping stone aspect doesn’t put me off, however obviously the cost is a factor here due to the post grad loan on being 12k atm
4. Those sorts of more quantitative roles are what i’m looking to break into which is why i’ve looked at this (alongside the fact i’m massively interested in the subject).
1. Got it well done. I don't think Oxford / LSE / UCL are good options for quality of output, and probably LSE just given that it doesn't require 2 years. But it also depends on you (financial background, whether you get a kick out of being at Oxford, etc.). Also I'm a random guy on the Internet so trust your professors, not me.
2. I know it says average 2010 to 2020 for Tilburg. Ultimately it's your decision my friend. Tilburg rates purely based on quality of academic output (publications in leading journals). Complete University rates on a whole bunch of metrics which in my view are very hand-wavey. If you're serious in any way about an academic or technical career, you should take Tilburg seriously (and a 10 year average - professors stick around for decades).
3. Got it. If cost is a factor then honestly LSE is hard to justify. If you're serious about a PhD UCL or Oxford (I think if you're good then at Oxford you should be able to teach some undergraduate seminars which might help you on fees - was something that existed back in my day).
4. Clear. In that case LSE as it has a Finance component will optically be better for you at least to access HF and based on reputation.
Again huge number of personal factors to consider, but IF YOU CAN AFFORD IT without putting a financial burden on your family or yourself, go LSE for professional career or Oxford for academic career, then UCL. For a professional career be aware that you will need to supplement with professional experience
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