MPhil Choice (oxford-cam-LSE)
Hi all,
I'm facing a bit of a conundrum and wanted to hear thoughts from ppl in the workforce about this. I've just wrapped up my undergrad at oxbridge and now need to chose between offers from Oxford, Cambridge and LSE for an mphil/masters' in economics (for the coming year). And frankly I'm a little puzzled.
I hear LSE has the best program academically and strong career outcomes, but since I don't particularly want to do a DPhil, and the career outcomes are also a big self-selection + environment thing, I'm not sure it'll be the best option (plus if there's a recruitment quota by school I imagine I'd be facing worse odds than at the other two). Oxford's MPhil is 2 years, so leaves opportunity for a penultimate year summer internship (+final year one where available if need be), in academia it is also better considered than Cambridge's MPhil to my understanding. Cambridge has the advantage of less competition for finance recruitment (before I get jumped for this, it's marginal, I know, yet it's true that a larger proportion of LSE students target finance) and a strong reputation in terms of quantitative skills prep (excellent econometrics department to my understanding and access to some unique buyside ops).
About career interests:
I am most interested in macro roles at HFs or in S&T. I will shoot for quant as well but the proportion of econ students who get in is very low (though interestingly a lot of these seem to come from Cambridge), so I'm not going to delude myself there. Tried IB for a summer and didn't love it, though in hindsight I think the main issue was that I really didn't click with my team and so may apply again this year.
I think that these being 1-year programs (LSE & Cam) means that I will have to target mostly grad roles, which I imagine will be brutal recruitment. That's why I want to make the right choice here and was hoping to hear from ppl with some experience/knowledge of the degrees.
Any help or advice goes a long way, and so, thank you!
in a similar position, i ended up going with the Cambridge MPhil. Although I don’t know if i’ll be competitive for macro, S&T etc since my previous experience is in economic consulting.
Thanks for the perpspective, can I ask you what decided you ?
Mostly, just because I wanted a break from London where I did my undergrad. Oxford MPhil is 2 years and from what i've heard is very academically demanding, poorly run and is overkill for people looking to go into industry. I understand the point about recruiting for internships though – although some summer internships may allow you to start right away after converting.
Tbf my prev exp has been IB and academic research, hoping the latter can crank open a few doors
Based on the most helpful WSO content, here's a breakdown of your options:
LSE MPhil/Master's in Economics:
Oxford MPhil in Economics:
Cambridge MPhil in Economics:
Recommendation:
Given your interest in macro roles at hedge funds, S&T, and potentially quant, Cambridge might be the best fit. Its strong quantitative focus and unique buyside opportunities align well with your career goals. Additionally, the slightly less competitive recruitment environment could give you an edge.
However, if you value the flexibility of a two-year program and the opportunity for a penultimate-year internship, Oxford is a compelling choice. It provides a strong brand and a balanced approach, which could be advantageous for exploring different career paths.
While LSE is a powerhouse for finance recruitment, the intense competition and its alignment with DPhil aspirations might make it less ideal for your specific goals.
Ultimately, your decision should weigh the program structure, recruitment opportunities, and alignment with your career interests. Good luck!
Sources: https://www.wallstreetoasis.com/forum/school/uk-master-in-finance-advice?customgpt=1, MSc Finance Profile Evaluation (LSE Finance, LBS Financial Analysis, Oxford Financial Economics), Which masters to choose?, 2018 UK Target Uni - MSc - for FO jobs: put your POV, Have I messed up my future?
If your maths is good then Cam Mphil is eminently doable. Hardest compulsory paper is macro and that tended to catch the people poorest at maths out. A lot of people went on to do econ consultancy rather than work at a bank so you've got less competition in that regard. Recruiting during 1st term will be hell, but I guess thats the same everywhere
Hi, thanks for the info, seems like you've attended yourself ? I think my math should make the cut there so I'm not too worried on that front. To clarify I'd be doing the MPhil in econ at Cam, not Econ Research (which is the usual pre-DPhil one), do you know if recruiting prospects differ ?
Sorry for late reply, no difference in recruiting prospects. Only academic posts would care about the difference, most other places probably dont realise the courses are different
My program at LSE seems to offer more finance oriented or coding modules, I am unsure if that would prove a real advantage for macro roles or if I'm better off with pure econ and some more coding work on the side from RAships etc
If anyone else has any exp with these programs, please shoot, any help is greatly appreciated !
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