LBS MFA vs. Bocconi Master Finance
Situation: I've been accepted to both the MFA program at London Business School (LBS) and the Master in Finance program at Bocconi University, the latter with a 100% scholarship. Now, I'm faced with the challenge of deciding which program to enroll in.
Quick profile: I’m a final year Portuguese undergraduate student in a Portuguese double bachelor’s program in law and business management. I’ve had some finance courses but, in my opinion, not nearly enough to break it into the IB/PE scene without first having a good master’s education from a top European business school. I am yet to have any internship experience in a relevant sector (only did a corporate tax internship at a Big 4 in Portugal). I am inclined to return to Portugal for work after the master’s, mainly for personal reasons but also because I have a bigger chance of landing a good position (especially in PE) that gives me decent responsibilities from an early stage.
My perspective is that LBS is more pratical and getting-the-job inclined, while Bocconi is more academically rigorous and demanding. I do feel the need to have a very strong education in financial topics, and I do not completely push away the possibility of doing a phd in the future (although it’s not a main goal), which is something that makes me lean to Bocconi, but I also feel that the extra year at Bocconi might be 1 year of work experience that I lose.
I would appreciate any help regarding this subject, thank you!
Based on the most helpful WSO content, here's a breakdown to help you weigh your options between the LBS MFA and the Bocconi Master in Finance:
London Business School (MFA) - Practical Focus: The MFA at LBS is known for being career-focused and hands-on, which aligns with your goal of breaking into the IB/PE scene. - Location: Being in London, LBS offers proximity to the financial hub, which could be beneficial for networking and recruitment opportunities. - Duration: The MFA program is shorter (9 months with a chance to extend), which means you could enter the workforce sooner. - Network: LBS has a strong brand and network, particularly for its MBA program, but the MFA is also gaining recognition.
Bocconi University (Master in Finance) - Academic Rigor: Bocconi's program is known for its competitive and quantitative nature, which might suit your desire for a strong education in financial topics. - Scholarship: A 100% scholarship is a significant financial advantage and could alleviate the burden of student loans or savings depletion. - Duration: The program is two years, which means you would forgo a year of potential work experience. - Italian Market: While you have no intention of working in Italy, Bocconi places well in London and could still be a valuable credential if you return to Portugal.
Given your inclination to return to Portugal and work in PE, where responsibilities can come early, the practical and network advantages of LBS could be very beneficial. However, the academic rigor and financial advantage of Bocconi are also compelling, especially if you're considering a future PhD.
Ultimately, the decision may come down to where you see the most value: the immediate practical benefits and network of LBS or the academic depth and financial advantage of Bocconi. Both are reputable institutions that can pave the way to a successful career in finance.
Sources: European Master in Finance programmes (pre-experience), https://www.wallstreetoasis.com/forum/school/uk-master-in-finance-advice?customgpt=1, European Masters Rankings, LSE MSc Finance or LBS MFA, https://www.wallstreetoasis.com/forum/school/profile-evaluation-bocconi-msf-lbs-mim-or-mfa-lse-msc-finance?customgpt=1
Congrats on both offers! What was your GMAT? Both have great job offers after, while Bocconi would also allow you a summer in between for internship at a BB. The 100% scholarship seems almost like a no-brainer, and you get to enjoy your student life for an extra year.
Thank you, I’m going with Bocconi after all! My GMAT score was 750 (98th percentile).
What was your GPA? Because I also applied to Bocconi with a 770 GMAT but got rejected :((
Why do you assert that your PE chances are better in Portugal?
I'm not sure of Portugal's business scene, but I doubt PT is bussin such that any undergrad who himself says he has no relevant experience is necessarily going to get a PE spot?
Here's my opinion
Bocconi
LBS
My question to you is, do you have an internship lined up for this summer?
Thank you for your answer and insight. After a decent number of calls with both LBS and Bocconi alumni I have decided to go with Bocconi.
Regarding your comment about Portugal’s PE scene, the top PE firms here typically recruit analysts straight out of Masters in Finance from Portugal’s top 2 business schools in Lisbon (with maybe 1 relevant short summer internship in Portugal, but some don’t even have one when they get recruited).
I have an interview in February with one of the top PE firms in Portugal for a summer analyst position that is typically converted into a full time offer for after the masters degree the summer intern is going to be studying. I’m pretty sure I only got an interview for the summer role because I mentioned I was going to be studying at one of these schools for my masters. However, I’m not sure how it’s going to go since I haven’t been able to gather any info about how deep they go into technicals.
Congrats! Best of luck.
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