WHU vs FSFM for MFin? when i have no previous finance work experience
Hey folks,
So i got an offer from WHU and FSFM.
I understand that WHU has a great brand name. However, I will not have the possibility to work along my studies. I have been counting on that to gain some relevant internships. Until now, I worked in business Development and Research.
Just for this reason, I am inclined towards FSFM. However, I am not sure if IBs recruit werkstudents. From the looks of it, Asset Management firms seem to take on Werkstudents.
My end goal is to work in Germany. My inital plan was to try different werkstudent roles and internships while studying at FSFM and then decide my interests.
All those folks who have already gone through the recruiting process, can you weigh in? Any help will be much appreciated.
Thanks!
Hey!
FS is an okay school and has a good network to banks and other FinCos in and around Frankfurt. Can’t speak for WHU but being centrally located in Frankfurt as you’d imagine would be nice for networking and meeting alumni (if your German skills are conversational, this point matters more).
However more importantly, given that I could understand from your post where your interests exactly lie, I’d caution against being attracted to the Werkstudent arrangement too much. Most proper IB internships (including S&T and the like) are full time roles and you’d anyways not learn much in a weekly arrangement where you work 3 days a week on a 20-hour cap.
If you put in the effort, I think getting a good GPA is manageable at FS but if you’re like some other people and try taking advantage of the 6-month full time work limit (doesn’t apply to Germans) to do internships during the semester, you might register a notable GPA decline. The coursework requires seriousness.
w.r.t recruiting, I’d require more insight on your career interests but with good internships, it’s definitely possible to land BB/EB internship interviews. FT recruiting is harder and much more competitive in Frankfurt though. So you either follow the well trodden path of Big4 audit to advisory to small shop/MM M&A to BB/EB M&A or you’d better have 2-3 brand name internships in Germany/Europe if you want a BB internship interview. FT offers are generally given through the Grad program route similar to London or could also be ad-hoc as at Macquarie for example
If 2 good internships suffice, whu could seal the deal as well since it allows for that.
My main inclination towards FSFM has been due to the idea that i can gain some relevant experience as a werkstudent.
One more question... What's the expectation from an intern? Most websites ask for previous internship experience. Any idea on how easy/difficult with intermediate German?
As stated, I can’t speak for WHU
1. Getting a working student position could be a good way to signal to prospective employers that you fit the German corporate culture even though it may/may not be a relevant internship. I’d not underestimate the importance of an asset management WS position in signalling your interest in private investments/PE/credit or even M&A internship(s) at a small shop to begin with
2. Min. B2 is what would be taken seriously by a few places. Usually proficiency at or around C1 is expected
In London, will WHU be much better chan FSFM for a non-EU?
Asked a couple of desks at my current BB this question - according to them, non-UK unis are heavily discounted in London office. Ofc you have exceptions like Bocconi et al but they are mostly used to target natives of that specific country because the desk may have specific language requirements.
Yes you’ll always have the occasional exceptional case but then this is not the norm. You would rather target FS if you aim for the Frankfurt IB/PE scene. But ofc WHU is very well considered too!
Take this with a pinch of salt but as a non-EU, a top UK uni (provided you can afford it), would be a much safer bet
Top Unis in the UK may be possible but their flagship program of them is not. Plus I will not have any internships in Europe before my master's starts, coz my bachelor's is in China, 1-year length program cannot give me enough time to do the ladder-type-internships route (small boutique - MM - BB - then pursue BB FT). In these circumstances, which one will be better? ESSEC/ESCP GE?
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