What's the best choice for MSc. Finance for an international student planning to settle long term?
Hello, everyone; I would really appreciate some insights/guidance on which offer to pursue.
I got into the following:
- MSc. Finance, Technology and Policy program at Uni of Edinburgh: The tuition fee is GBP 39,500 over one year. I will be applying for a scholarship but the max I will secure is GBP 10k. I am thinking of financing this thru Prodigy Finance, if I opt for it. I am just worried about securing a job post master's because of the current UK job market situation.
- MSc. Finance at the Frankfurt School of Finance and Management: I didn't secure a scholarship. The program's tuition is 35,000 euros for two years, and I also need to deposit around 11,000 euros in a blocked account. I'm seeking advice on whether this investment is worthwhile, considering post-grad job opportunities, accommodation, and the additional factor of learning German.
- Msc. Finance at Simon Business School, Uni of Rochester: (16 Month Program, total tuition fee: $59,000)
- MSc. Financial Technology at UT Dallas: (2 yr program, Total Tuition Fee: $ 44,000)
- MSc. Financial Technology at Uni of Glasgow: (1 yr program, Total Tuition Fee: GBP 28,500)
A bit about my background: I hold a BSc in Accounting and Finance with a GPA of 3.4, and I've cleared CFA Level 2 with four years of experience in the treasury of a central bank. I have a GRE score of 315.
I'm also waiting for decisions from UT Austin, GSU, and Uni of Warwick for MSc. Finance. They have a shorter duration (10-15 months) and a tuition cost of around $35,000-$50,000 (considering I get some scholarships?), and I'm aware that obtaining a green card is not guaranteed, and part-time work would be necessary to fund my living expenses. The dilemma is between paying/loaning a significant amount in one year in the US/UK versus spreading it out over two years in Germany, as funding is a big constraint.
I want to specialize in investment banking or M&A consulting and aim to start a master's program by Fall 2024.
I'd greatly appreciate insights from anyone in Germany/UK or those familiar with the current scenario, especially regarding the importance of learning German in the job market.
It's a major financial commitment, and I want to make an informed decision. Thanks!!
If you aren't proficient in German, I would rule out Germany.
Navigating work authorization in the US is by far the most complicated thing. Even with the STEM OPT extension. And if you need sponsorship in the UK as well, I would probably choose the US owing to its relatively better job market.
UT Austin will be my go to provided you get in. Rochester and Dallas are good schools too. With respect too M&A and IB, breaking in will be very difficult. Recruiting is very structured in the US and rarely, if at all hire from specialized masters programs. And you will not be a lateral hire either since you have no IB or M&A experience. With that being said the combination of CFA and previous experience can for sure get you some big ER/PM roles.
Thanks for the insights, what do you think about the job prospects in the UK if I opt for Edinburgh? I have read that its well known in the UK market but nor sure about its employment stats.
You replied to your own thread not to the guy above mate.
Edinburgh is not great. You said you’re aiming for IB/Consulting? Your odds of getting in from the Edinburgh MFIN are close to 0.
In the U.K., Edinburgh is a semi target for undergrad and a non target for MSc. It’s the same for the Warwick MSc that you’re waiting on (although people will crucify me if I don’t mention that on BSc level Warwick is stronger than Edinburgh. But MSc not by much).
For London IB, when it comes to masters in the U.K. there are basically targets (LBS, LSE, Oxford, IMPERIAL) and non targets (Other RG, etc).
From target masters IB is far from guaranteed (ESPECIALLY in todays market), and there are A LOT of kids that miss out. And the gap is very large in terms of your employment odds in IB between targets and non. I will say that RG masters (your usual Bath/Exeter/Notts/Edinburgh etc) set you up for Big4 (with some luck and hard work) and some less lucrative roles within the world of finance. Is it worth £40k+living expenses to earn £27k at KPMG though? Probably not.
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