Which MSc is better value? Econ at Warwick or Finance at Bath
Hello,
I am a recent UK grad from a sort of semi-target trying to break into IBD. This is definitely doable from my school, historically by people who completed 12 month placements in IBD and got a return offer. For reference, I did Econ and scraped a 1st.
Experience wise, my placement was in a big-tech firm and I currently work at a tiny M&A RB (outside of London) doing deals in the £5m-£35m range. I took this job because I wasn't having any luck interviewing at the bigger names.
I had 1 AC last season at a BB, but my lack of finance experience, comparatively worse Uni, and poor performance on the day resulted in rejection.
My thinking is as follows; if I do a masters at a target/upgraded institution to my Bachelors and re-apply for SA / OC roles now w/ ~1yr M&A experience I'd be more likely to land one at a reputable firm?
However, I need advice choosing a MSc. Realistically, £20k is my limit for tuition, since I will need to fund ~75% of the living & rent expenses, and 100% of the tuition fees myself.
Imo the best ones I could find within my parameters were:
- Bath, MSc Finance
- Warwick, MSc Economics & Data Science (finance simply out my budget here, nearly 2x Bath)
I would love to hear what others have to say.
Thanks.
To be frank, I really don’t think either options listed will make a difference besides giving you another opportunity/cycle to reapply for internships or entry level roles
To me, the fact that you made it to an AC means that you can do the job - just got to make sure you really nail it in the next time round so I’d recommend you reflect more on what you performed poorly on the day. Maybe it’s your technicals, maybe it’s your “story”, maybe it’s your ability to make connections with the interviewers, or maybe it’s simply nerves and bad luck. Whatever it may be, try focus on that, which I’m sure you’ve already done.
If you can’t afford to do a top masters, which with a first I think you probably could, my suggestion would be to just trying to keep lateraling into a reputable MM bank for a year and then into a BB/EB 12-18 months after that. IBDs are always looking for good junior folks willing to put in work. You may be duct a year of experience when you make the move(s), but it won’t cost you anything financially and technically you might be in the same career step as if you’d reapplied during a masters year. Good luck!
Thanks for your swift reply, that is great advice.
I also believe the fact that I have made it to an AC sets a precedent that I can actually do it. Upon reflection, I know exactly why I screwed it last time: it was a function of nerves (a lot of the other kids were from top top unis - I was the only clear non target), and poor understanding of the technicals - so my memorized answers quickly unraveled after some interviewer drilling.
The main reason I'm considering a masters is to essentially buy back in to the intern / entry level applicant pool. I thought doing it at one of the above mentioned two institutions would be a decent opportunity to marginally improve the name on my CV.
With respect to lateraling, would you advise reaching out directly to VPs/Directors/MDs for An0 / An1 roles? Only because when I apply to listings on LinkedIn / e-financial, they are almost always posted by recruiters who have never once gotten back to me (which I associate with not having decent enough names on my CV? or a cheeks CV - but this CV has gotten me interviews.. so idk?)
Thanks.
Based on the most helpful WSO content, Warwick's MSc Economics & Data Science would generally carry a stronger brand name in the UK, especially for breaking into Investment Banking (IBD). Warwick is widely regarded as a semi-target/target school for finance roles, and its reputation in economics is solid. However, the MSc Finance at Bath is also a good option, particularly if you're constrained by budget.
Here’s a breakdown to help you decide:
Warwick MSc Economics & Data Science:
Bath MSc Finance:
Recommendation: If your goal is to maximize your chances of breaking into IBD and you can manage the tuition and living costs, Warwick's stronger brand name and alumni network might give you an edge. However, if budget constraints are significant, Bath's MSc Finance is still a solid choice, especially since it aligns directly with your career aspirations.
Ultimately, your prior M&A experience and how you leverage the master's program (networking, internships, etc.) will play a crucial role in your success.
Sources: https://www.wallstreetoasis.com/forum/school/uk-master-in-finance-advice?customgpt=1, MSc Finance Warwick vs Nova SBE vs ESSEC, MSc Finance University of Bath vs University of Edinburgh, Which masters to choose?, Best/Most Realistic Route into Hedge Fund
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