Advice on unis for MA Economics
Im a British BA Economics student in my second year. I want to become an investment banker. Unfortunately, due to personal reasons during my Alevels, I left 6form with EEC, so I could only get accepted to non-targets. Because of this, and many other reasons too, I've decided to extend my uni education into a Masters, primarily to attend a target uni. The only target uni in my country that I can afford would be Warwick (Tuition for LSE/Ox is £40k +, War is £20k), which I'm fine with. I get high First grades, and I do a load of extra curriculars, for example, I compete for my uni in track and field at national/BUCS level, I founded my own chess club within the uni, and I am doing a TEFL course in China over the summer too, etc, so I am confident I can get offers from prestigious unis when the time for applying comes around.
However I'm considering studying abroad for my own personal benefit/interest, and I am really interested in Peking University in China. They teach MA Economics in English at their PHBS campus in Shenzhen. It's #14 in the world on QS. Tuition is also only £6,600. I fell in love with Chinese culture after visiting there last summer, and I'm loving learning Mandarin too. I also want the chance to perfect my Mandarin skills during my time there.
*Please note I am not considering Peking for the low tuition, if either War and Pek were free, I'd still be indifferent.
The problem is, that I want to study there, but I don't have too much interest in working in China due to their workers rights and IB salaries. I want to explore working in HK and Singapore, but I'd still prefer to return to the UK/London or America for graduate work. I just don't know how respected Chinese degrees are in these locations, regardless of the QS ranking.
Lets compare going to Warwick to Peking. Warwick is a target uni, and along with work experience as well as my athletics, etc, I'm again confident I can land interviews in IB in this scenario. If I went to Peking, I can't actually tell if it would enhance or reduce my likelihood of employment. There are key employability AND personal benefits to learning advanced Mandarin, international multiculturalism (Especially as investment banks work with international companies/people all the time), etc. However there are tensions between China and the West, and Warwick is more on radar for London investment banks.
I don't care if Warwick would be better for getting into western IB than Peking or not, just if Peking is good enough so that I can still have the chance to study abroad in China without significantly limiting my opportunities.
I've been having a very difficult time comparing my two options here. Advice will be so so so appreciated please!
With a post this long I fear you may be on your own, so I'll take a first stab at advice.
IB - how badly do you want it? You have a strong personal interest in something which you're totally entitled to, and I don't want to give you any advice that will make you regret that.
Honestly, and please don't take this negatively, I just want to give straight, honest advice, unless you tell me that I'm missing something, with (A) no experience, (B) a non-target university at undergraduate, and (C) weak A-levels, you have a very low chance of making it into the industry in the UK (and probably the US, though I know that market less well).
If (and this is a very loaded "if") you truly want to make it into this industry in the UK, I'd advice to forget about China (I know you're passionate so I really caveat this), get some (any) kind of experience in the UK this summer (accounting firms, small IBs, etc) and nail your Warwick interviews. From there, getting a graduate role in IB will still be very difficult unless you have some great experience I'm not aware of. I'd advise looking at accountancy firms (e.g. Big 4 Audit) for graduate roles, or hustling the smaller banks and funds, and later looking to later into IB full time.
I'm a sample size of 1 but I've come across a lot of CVs for grads in over 10 years in IB. I've never come across a CV for a direct recruit from a mainland university. I'm not sure Tsinghua is even recognised (though I'm a humble banker and don't know how HR categorise it).
Situation of course might be different in HK / SG or if I've missed something.
Hi, thanks so much for replying.
I am invested in IB.
I intend to build up my experience over the coming couple of years, the Peking course is 2 years long so that can give me 2 opportunities for postgraduate summer internships. When it comes round to applying for graduate roles, whether I go to War/Pek, I will be able to put my Undergrad degree as my most recent qualification so I can get away with not showing my A level results. This should take care of my A and C problems.
Regarding your advice, if I wanted to go to Peking, I should start looking into Hongkong/Asia-Pacific as an alternative.
B however, you mentioned my Undergrad uni will still affect my chances? I figured if I can go to a prestigious uni for a Masters, they wouldn't care about what uni I attended for my Undergrad. Is this not the case?
Thankyou again.
Hey,
It does help that you have a two year course. A couple points:
1) My Hong Kong counterparts well set a very, very high bar for anyone who cannot speak native (as distinct from fluent) Mandarin. I'm not saying that it is impossible, but in IB in particular, being able to serve mainland clients is increasingly important in that market. It is also an extremely competitve market, so be aware of a potentially difficult path if you apply there, even if you are speaking at an HSK6 level now. Singapore is more achievable from a language perspective, but again speaking Bahasa, Vietnamese, Thai, etc. gives a strong advantage to those candidates, so you're competing against local Singaporeans for places.
2) On your question, and I think you know this already but it's worth emphasising, there is no binary answer. Your application is always a package (high school results, undergraudate university rank and result, postgraduate university rank, extra-curriculars, past professional experience, etc.) You are (and again, please don't take this as an attack, it's the cold hard truth as I see it and this is as cold and as hard as it gets) competing against applicants who have a Royal Flush or a Full House while you're sitting there with, right now, a couple of 8s. If you're committed to this industry, you need every edge you can get.
You're clearly committed to this China thing and my read is that you value that more than IB. If that's the case then go and don't do something your heart will regret, but my advice is (A) forget the TEFL thing - I just don't understand why this is a good use of time other than being fun for you. To get an edge, apply now for whatever experienc relevant to finance you can get; (B) have a backup option and manage your IB prospect expectations. Do NOT graduate from Peking without a role. Consider Big 4 / other accountancies, or a corporate role in a Fortune 500 or something, or some tiny fund you can hustle into. Diversify your options.
Good luck
Count WACCula made some great points here -- the focus would be on building up as much experience as possible, and to diversify options beyond IB.
To chime in wrt recruiting for SG, I have anecdotally not seen any pipelines where grads from the Chinese schools you've mentioned break into IB. IB recruiting here is still highly focused on local schools + UK/US targets, and locals are usually preferred. If you are keen on working within APAC, the best odds are likely to be via secondment or internal transfers from your firm.
Based on the most helpful WSO content, here's what you need to know:
Warwick is a well-established target university for investment banking in the UK, with a strong reputation for placing graduates into front-office roles in London. Its MSc Economics program is highly regarded, and combined with your strong academic performance, extracurriculars, and work experience, it would position you well for IB interviews in London or other Western financial hubs.
Peking University, particularly its PHBS campus, is a prestigious institution with a strong global ranking. Studying there would provide you with unique international exposure, advanced Mandarin skills, and a deep understanding of Chinese culture, which are valuable assets in the increasingly globalized finance industry. However, Chinese degrees, even from top institutions like Peking, are not as widely recognized or valued in Western IB recruitment compared to UK target schools like Warwick. This could make breaking into London or US IB roles more challenging, especially if you lack direct networking opportunities with Western banks during your studies.
If your ultimate goal is to work in London or the US, Warwick would likely provide a more straightforward path due to its established reputation and alumni network in the IB industry. However, if you are passionate about studying in China and are confident in leveraging your Mandarin skills and international experience, Peking could still be a viable option, especially if you aim to explore opportunities in Hong Kong or Singapore, where Mandarin proficiency and knowledge of Chinese markets are highly valued.
In summary: - Warwick: Best for maximizing your chances of breaking into London/Western IB roles. Strong alumni network and target status. - Peking: Offers unique personal and cultural benefits, but may require extra effort to overcome potential challenges in Western IB recruitment.
If you choose Peking, consider supplementing your degree with internships or networking opportunities in London or other Western financial hubs to maintain your competitiveness.
Sources: Intro to Investment Banking, Which masters to choose?, University Of St. Andrews experience? Opinions?, European Masters Rankings, Which school to attend? Baruch, UCL or Warwick?
Obviously don't go to China if you really want to do IB. You're already not in an ideal situation and studying in China would be a pretty big gamble I think.
Still, studying two years in China seems like an incredibly fun thing to do, especially since you're already in love with the chinese culture. I would really consider what makes you the most happy and fulfilled (both right now and in ten years) and make the decision based on that. Sure IB pays very well and sets you for a great career, but I'm not sure it's a tradeoff I'd take if I was in your position.
Hey, following an extremely similar path at a peer school at the undergrad to Warwick (think Durham/UCL/Edinbrugh) and in the process for applications to Target (LSE/Oxford) & Semi Target (Warwick/Imperial) Master of Econ/Finance programs. Also strongly considering the China masters route, just got a full ride from Fudan and have explored the Peking/Tsinghua route. I have networked with some IB/S&T/ER etc ppl on this exact topic in both HK & SG as a non mandarin speaker and so can provide some insight as to maybe some questions you’re looking to get answered. Let me know and i’ll send you a DM if you’re interested
Hi! Would you mind sharing insights on this topic? I am in a dilemma too. I recently posted a Uni picking post on WSO too. Thanks!!
Dont fall for the Peking University HSBC Business School (PHBS) trap. It's not considered the same as Peking University in Beijing.
Look into the European target masters, going to PHBS won't help at all for working in London.
Why is it not considered the same as Peking standard (just curious)? Would employers in HK not see it the same?
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