Bocconi MSc International Management - Can’t Speak Italian. Worth It?
I saw a similar post earlier. I'm in conflict with choosing a 2-year Masters program to BREAK into IB. I'm from an engineering background and that too from a no-name university in my country. Also, I lack the relevant work experience for IB. Hence, the 2-YEAR program.
I'm not familiar with any of the EU languages. So, I looked for programs with placements in London. Getting a work placement in London, the Middle East, or any English-speaking EU country is my end goal post-Masters.
After reading many posts on WSO and other online platforms, I learned about how internationally acclaimed Bocconi is. However, I also heard that it is nearly impossible to break into IB in Italy/London as a non-Italian. I also couldn't find a lot of folks from my country on LinkedIn who successfully broke into London after their studies in Bocconi. I'm seriously concerned about this since I would be going into debt for studying in an academically intensive program for 2 YEARS.
Also, things are not looking good in London. I've been reading news about IBs wanting to shift their offices from London. Are there any EU countries out there that allow me to break into IB without any language barriers?
Another program that fits the bill is ESCP's MiM program. Please let me know if I'm missing out on any other programs. Thanks.
GPA: 9.52/10, GRE: 165Q, 159V, IELTS: 8
Based on the most helpful WSO content, breaking into Investment Banking (IB) in London or other English-speaking financial hubs in the EU as an international student without local language skills is indeed challenging but not impossible. Your concerns about language barriers and the impact of your educational background are valid, but there are several factors and strategies to consider that could enhance your chances:
Bocconi's Reputation: Bocconi University is highly regarded in the finance industry, not just in Italy but also internationally, including London. While you've noted concerns about breaking into IB in Italy or London as a non-Italian speaker, Bocconi's strong alumni network and its recognition among financial institutions can play a significant role in overcoming these barriers. The key is to leverage Bocconi's career services, alumni network, and recruitment events to gain access to opportunities in your target locations.
Language Barrier: While speaking the local language can be an advantage, especially in continental Europe, many global banks and financial institutions in London and other financial hubs operate in English. Your excellent IELTS score demonstrates your proficiency in English, which is crucial for roles in these institutions. It's also worth noting that some funds and banks have dedicated UK coverage teams that primarily operate in English.
ESCP's MiM Program: The ESCP Master in Management (MiM) program is another excellent option with a strong reputation across Europe. ESCP has campuses in several countries, including the UK, which could provide you with the flexibility to study and network in a more English-centric environment. This program also offers opportunities for internships and work placements across Europe, potentially easing the transition into IB roles in English-speaking markets.
Expanding Your Horizon: While London is a major financial center, considering other English-speaking financial hubs or regions with a high demand for English-speaking professionals could be beneficial. For example, Frankfurt, despite being in Germany, has many financial institutions where business is conducted in English. Similarly, the Middle East, particularly Dubai, is known for its diverse, English-speaking professional environment.
Networking and Skill Building: Regardless of the program you choose, networking will be crucial. Connect with alumni, attend industry events, and seek internships or work placements aggressively. Additionally, focus on building skills that are highly valued in IB, such as financial modeling, valuation, and market analysis, to make yourself a more attractive candidate.
Given your strong academic background and test scores, you have a solid foundation. The choice between Bocconi and ESCP should also consider factors like the curriculum, specialization options, and personal career goals. Both programs have the potential to pave the way into IB, but success will largely depend on how effectively you can network, leverage the school's resources, and position yourself in the job market.
Sources: Can international students in Australia break into IB?, Why do MBAs seem to favor consulting over banking nowadays?, 20 Most Frequently Asked Questions - London Edition, 20 Most Frequently Asked Questions - London Edition, English speaking IB internship in Frankfurt?
You've really managed to frame this as a loaded question but I'll try to respond just to give a bit of feedback.
I'm not going to advise you to go into debt. That isn't fair. You need to decide whether something is "worth it" based on how much you want the goal, your family background, etc. However.
1) No European country that I'm aware of with IB roles (Paris, Frankfurt, Milan, Madrid, Amsterdam, etc.) will give you a role without local language abilities (in the absence of an internal transfer)
2) Therefore you should be targeting London
3) Bocconi is top tier target - almost any bank in London will value a CV from Bocconi
4) You should 100% use your time in Milan to learn Italian. It would be a huge waste to not do so
Will a Bocconi MSc guarantee you a career in London? Of course not. But you know this already. It might provide the doorway you need though if you have a little luck, and if you work hard.
Thank you so much for the concise reply. I decided not to apply for Bocconi's Round 3 app because of my concerns. However, it is definitely on my application list for the next intake. I am 100% willing to go into debt even if I have a slight chance of making it to IB. I have been a hard worker all my life. Then again, I could only try to maintain my excellence in academics.
I was looking at the Masters in Management at LBS, Imperial, and LSE in London. Hell, I even applied to Imperial recently but got waitlisted. That's why I decided to wait for the next R1 for LBS and LSE.
I am willing to learn Italian. But I'm afraid that I won't reach the B2/C1 (preferred by firms) level by graduation. I have also seen a lot of posts saying that London banks usually hire Italians (not non-EU grads) from Bocconi. I couldn't find any alumni from my home country on LinkedIn as well. All of this led to second-guessing my decision to apply to Bocconi. Well, currently I have to wait till Sep 2024 to apply again.
Hey, Clearly go for LBS or LSE first round. These are by far the best options. You should not hurry for your master considering it is third round. All the best and patience my friends it will pay off if you apply super early ;)
Bocconi is way better than ESCP so if that is your alternatives than would say so.
Thanks for the reply. I will definitely apply to Bocconi for the next intake.
all Bocconi wants to work in London. Preferably go to a university in the country where you would want to work. It's so competitive London that a lot of ppl spend 50k on Bocconi and then need to settle down for some type of private banking roles in mediocre Italian banks because of the competition.
true 100%
This. I was afraid that this would happen eventually. That's why I picked ESCP. I can do my second year in their London campus and get a post study work visa. I also heard the courseload is lighter compared to Bocconi leaving me time for networking.
tbf everything is lighter, ESCP probably the lightest.
I would suggest choosing ESCP/HEC/ESSEC over Bocconi for your master's degree, especially if you plan to pursue International Management at Bocconi. This recommendation is based on the fact that it will provide you with access to the Paris market, which is the largest one after London. Additionally, French is widely regarded as the most useful language in IB after German, offering unique advantages.
Thanks for the reply. I don't think HEC is gonna accept me because of the lack of my undergrad prestige. That's why I didn't even want to apply in the first place saving application fees. It does make sense to study French. But I don't think I will be able to reach the B2/C1 level even after 2 years. I was mainly interested in ESCP because of its London Campus. But I'm not saying I won't study French at all. The prospect of studying a foreign language is always exciting to me. But I don't want a language barrier to stand between me and my desired job after spending hundreds and thousands of dollars on getting a Masters. I also heard that ESSEC places people in London. Is this true? Or do banks in London only hire French nationals from ESSEC as well?
unless you reach C2 you're losing time. Even French are notorious for looking down on people that have a C2 but still speak French with an accent.
Don't think HEC has much of a bias against less "prestigious" undergrad unis - I know of at least two people from my small EU country with degrees from our internationally unknown public universities that got into the HEC MiF via a good GMAT/GPA and solid work experience (one had a year in big 4 TAS, for instance).
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