MSc Finance - where else to apply?
Hi all, I have a question of where else I should apply to in Europe/Canada, as I await my MSc application decisions.
Profile:
1st (kinda 3.7-4.0 gpa) from a U.K. semi-target
2 years in big 4 audit in the U.K., very well known client
Small internships in PR and Non-Profit Journalism
Very strong ECs at University (student representation, leadership, finance clubs)
700 GMAT (Q45V41)
Solid references
Pretty decent essays
Post-graduation goals - consulting (I know it’s far from doing well at the moment, but hopefully things will pick back up in 2 years)
So far I have applied to:
McGill - MMF
LSE - MFin > MAccFin
HSG - MBF(doubt I will get in with a low GMAT) > MAccfin
SSE - MFin
I have ruled out:
Oxford - GMAT too low
Bocconi - don’t know Italian, have 2+ years of exp, which they said is too much to apply
LBS - have 2+ yrs of exp
HEC - don’t know french, expensive, risky
Judge MFin - scam programme
I am thinking about sending out applications to:
Imperial - MFin
UoT - MFRM
WHU - MiF
INSEAD MiM
Some thoughts:
I would say I have a decent but not a rockstar profile, hence why I’m not sure where else to apply and if I will get accepted to my current choices. Since my essays are pretty well-polished, applying to more universities will be a pretty straightforward process. If it helps, I am close to getting an EU citizenship and have a Canadian PR. Am also 24.
Thank you!
Have you considered MBA programs? Usually they require 2 years work experience. If you come from a fairly strong undergrad, have the grades and GMAT + interview well, there may be a shot at that. Might he worth a shot sending out apps
I have briefly, but then I spoke to someone currently at the LBS MBA and was dissuaded from applying due to the lack of experience (she said the only people with 2/3 years of exp were ex-MBBs).
Plus, in my understanding, the MBA grad market is very limited in Europe. It’s only either INSEAD, LBS, or Oxbridge. And even then, the placement is highly competitive, much more so than in the US. Plus the LBS MBA is £115,000 - crazy money!
since you're based in the UK and a grad from a British uni, don't do MBA. It's a waste of money and it's only a good option for internationals who need a sponsorship to settle down in the UK. I'm in a pretty similar situation and was considering the same, but decided to go for a Master's degree
Bump
Last bump, will just apply to those 4 schools if no one else comments.
Bro don’t do FRM in UToronto.
Rather do the MFE. Have seen people go to FO roles from it. It will leave you with more options like McGill. People tend to go to anywhere from risk to consulting to IB/PE/VC.
Unfortunately, the MFE program deadline is closed now (from their website):
"The final date that you MUST submit the application payment is January 10, 2024 by 11:59pm ET (Eastern Time) and the final deadline for all the supporting documents including video interview to be received is January 17, 2024 by 11:59pm ET (Eastern Time). Any fee paid after the fee payment deadline will not be refunded and your application will be listed as “deadline missed”. These late applications will not be reviewed regardless of the reasons."
So the MFE is out of the question, sadly. Is the MFRM that bad? What are your thought on the Mcgill MMF (have an interview with them in a couple of days)?
Why is Judge MFin a scam programme? Also, didn’t know you needed to be fluent French/Italian for HEC/Bocconi ?
Cambridge MFin:
Maybe scam is strongly worded.
But:
-Their acceptance rate is shockingly high. Please see this disclosure directly from Cambridge themselves:
https://www.whatdotheyknow.com/request/admission_statistics_mfin_202020
50% offer rate is insane (123 on 239 applications), whereas LSE etc is closer to 8-10%.
- There are multiple threads on student room etc from current students that complain about the programme, essentially saying that it leads to no opportunities, the teaching quality is terrible and it was definitely not worth it
- their employment report is really unimpressive for the masters asking price
- it’s pretty darn difficult to find a lot of strong profiles from people who graduated from this programme on LinkedIn. Whereas there are tonnes of success stories of people from Ox MFE & LSE MFin.
All the while this masters is the same price as Oxford MFE, LSE, Imperial, etc.
Bocconi:
I’ve emailed the admissions team directly, and they replied (taken directly from their email reply) - “All of our MSc programs are pre-experience programs, meaning, you are not strictly required to already have job experience prior to accessing the program. For selection purposes, in fact, priority is given to students who are undergoing their last year of Bachelor at the time of application, and students who have graduated up until two years prior to applying. All other profiles, are then evaluated subsequently.”
To me that read as “you can pay the application fee and apply, but it’s really unlikely you’ll get in”
This is on top of not knowing the language.
HEC - you don’t need to know the language, but without it it’s pretty much impossible to stay in France. So, the only option is to try to get into the London market. The programme itself is also quite expensive. Hence why I said that it’s risky.
To add to it, the programme is not seen on the same level as LSE in London. I’m somewhat confident in getting into the LSE MFin, very confident in getting into LSE A&F.
At least in my head, this is why I haven’t sent out apps to HEC & Bocconi. Open to hear thoughts though and have my mind changed!
EU:
WU SIMC - low tuition, places well for consulting stuff.
RSM - the top program closed in like a week, but could be something to consider for next year. Lower tuition.
HEC MIF?? The tuition is 10k less than INSEAD MIM? Don't know french? You also don't know German at WHU? Of any contiential school, I think HEC would be giving you the best shot into London, but as you say can't really stay in France.
Imperial - might as well.
UofT MFRM - drastically inferior to the MFE. Weird program to take trying to get into consulting too. Would caution against Canada, job market is meh.
Re LBS MBA (or any MBA), 2yrs is on the low end for sure. BUT, acceptance rates are higher at European programs (at least Ox and LBS - close to 30%)! Tuition might be a bit much, but you are also placing into jobs (associate level), paying twice as much than the MSc Analyst level! Honestly, instead of applying to such a bucket of schools, might be better to wait out till MBA, and really focus on where you want to end up.
Could you not try to lateral out of audit to B4 or T2 consulting and not drop the tuition?
Thanks for your post - some great insights and well put!
Re masters applications - great food for thought. Will take a couple of days to figure out exactly where I want to apply.
Unfortunately transferring within Deloitte is rough - need one more year to complete ACCA in audit, then 1 more year for a summer placement and can only then join consulting IF I am lucky and everything goes well in 2.5 years.
But that means 2.5 more years of audit, and I would rather just take a break with a masters (have also had personal circumstances affect this). Feel as though 2 years of audit in Deloitte on a huge client is enough to have on a resume to be confident in securing a consulting offer.
What are your thoughts on the McGill MMF?
I have an interview with them on Tuesday, and am feeling good about my odds. I like the programme and the current grads I’ve spoken to seem great. The only issue I see is lack of French for Montreal, so would likely have to recruit for Toronto.
I think MMF is probably better than MFRM, but worse than MFE for placements. English might be passable in Montreal unlike France (but would not be in Quebec City for instance).
Can't speak to on it as a whole, but I've seen some good things.
Hey, I'm an ACCA student as well and planning to apply to European universities, Do you want to talk in PM's?
OP, it all comes down to where you wanna work in the long-run, because I believe Canadian market may have different perception of targets/semi-targets than the one in the UK, for example. Assuming you prefer the UK (London) or even continental Europe, I'd say for the UK it's Imperial/LSE/LBS/Oxford and and top schools in each country for their respective domestic market (e.g. WU for Austria, SSE for Sweden etc). With those top schools you can also try to apply to London, but in case of consulting - I am speaking only about consulting - I'd assume that a diploma from WU, SSE would be less competetive than a diploma from LSE for instance. Overall I believe IB is more flexible on that as they take way more applicants as a whole (and there are way more IB banks than MBB). My advice would be to go to LinkedIn and see how many grads from each school you are considering are working in the given MBB. This should give you some better insights. On a side note, as someone else mentioned, I think RSM does very well for MBB consulting. I think they have a really active consulting society which organises different insight days, and some of the members managed to get into some MBB insight programmes as students. Not sure if the programme would be that relevant, but indeed the most competetive programmes are already closed.
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