Euro target or US non-target for graduate degree?
What do you guys think is a better option to go for a graduate degree if my ultimate goal is working in IB in the US?
I'm currently wrapping up my undergrad studies in continental Europe and looking at both European and US schools to do a subsequent master's in finance. Realistically I could afford studying at a European target (think HEC, St. Gallen, Bocconi etc.), maybe with the exception of the very top UK schools, like Oxbridge and LSE.
In the US though Ivy League is out of my reach financially. So, a realistic option would be semi-targets or non-targets, and since there's never will be general agreement on what the hell a semi-target is or whether they exist at all, let's just assume it would be a non-target.
So, what do you think would give me a better hand in terms of US IB recruitment? Do recruiters in the US even recognize Euro targets or are Euro schools all the same to them?
Input from US-based fellow monkeys is highly appreciated!
I will be genuinely shocked if you complete an EU MFin/MSF and land IB front office on US soil, its just not happening outside of 'daddy is MD' type stuff. LSE is considered top 3 in Europe from any perspective, and a top global school, but all the doors it opens are 'global ex-US'. Going down the ranks only furthers this. IB is super competitive in the US even for grads of good US schools, especially at BB.
Thanks for your input, Revul. This sounds tough if it's really this way.
However, I will most probably be applying in the US anyway, sometimes things work out against all odds. I've already had this type of experience here, where I landed an IB internship despite being a foreigner and a non-native speaker of the local language (I'm not from the EU originally, just happen to be living and studying here).
So, would you say that in my situation I should better go for a MS from a US non-target? I mean, if the EU targets have no particular rep in the US anyway, wouldn't a US school (be it even a non-target) at least give me an opportunity to physically be in the country and be able to network?
US schools in Europe, on the other hand, are usually quite well-regarded, and not only the elite ones. So, even if the US recruitment doesn't work out, it still seems to me that non-target US > target EU. Or am I missing something?
MBA programs in Europe by and large suck. Even the great schools' MBA programs are not that good (I was a teaching assistant at London Business School during my PhD). LSE is absolutely horrible; it's a government bureaucrat factory.
Thanks for your input, LCandB.
The thing is, however, that I want to get an MS Finance degree, not an MBA.
Also, since we are on this topic, maybe you could comment on the general attitude of US recruiters towards MS programs? I know that US schools started offering them relatively recently. So, how are MS degrees regarded relative to a more common BA->work experience->MBA route?
Don't have any first-hand knowledge of LSE, so, I'd be ready to believe what you're saying. What about HEC? They offer the Top 1 MS FInance program, according to the latest FT ranking. Is it known in the US?
In the US, it's a lot tougher to get into IBD from an MSF program than it is from undergrad. Recruiting just isn't nearly as strong and you won't have the opportunity to do a summer analyst stint unless you find a 2 year program. If you do go in the US, I highly suggest only looking at target programs (MIT, Claremont, Vandy, UVA, Duke, WUSTL and similar - these have a track record of getting some people in at the analyst level). Even coming from a target program can be an uphill battle so I wouldn't even consider a non-target program if it were me just given the low odds.
I really think your best bet is to get into a European target (preferably Oxford or LSE, these have the strongest recruiting so I don't really see why you would knock them off your list). The other European schools you mentioned are great but I've heard your employment prospects may depend on you speaking the native language (a problem you won't encounter with the UK schools) and they just aren't known in the US like Oxbridge and LSE are. Getting a US banking offer from a European school is extremely unlikely to be honest. I'd do everything I could to go to the best European school, get an offer at one of the firms that has a very strong US presence and then try to transfer later on (I've heard transferring is quite easy, just takes patience on your part).
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