Duke MMS vs LSE Msc in Finance & Private Equity

Hey all, hope you guys can help me out here:

I'm an American (born and raised) who recently was admitted to both Duke and LSE. I'm likely to go to Duke, but want to make sure I'm making the right decision.

As I weigh both schools, here's my thinking: Duke seems to have great placement in a number of fields, including banking (which is what I want to do when I get out). It teaches a good variety of business coursework, and from what I've heard, enough to prepare one for a career in finance (since a lot of the modeling skills will be learned in internships anyway).

At the same time, LSE was an incredibly tough program and I'm impressed at the prestige. As a pure finance degree, I know it'll teach me a good amount of financial coursework (I wasn't a fin. or econ. major in school, so this would be beneficial).

When I weigh the two, I'm leaning Duke for a couple reasons. Living in London is incredibly expensive, and prestige aside, I'm wary of the fact that LSE doesn't make its placements public. I've heard some bad figures from LSE in the past (78% job placement in one year, I believe), and I know that for all its prestige, LSE can really only place me in the UK (since there aren't many LSE alums working in the U.S.). And even though I'm ok with working in the U.K., I've heard the UK job market is quite tough right now--not to mention I'd be an international and so would need to get some sort of Visa and work clearance to work permanently full-time.

In the end, all I really want out of either degree is a job.

Can any Americans--or non-UK students in general--shed some light on these schools?

 
Best Response

I had a similar question regarding MSF vs. Duke MMS. I chose to go to an MSF (I'm going there this fall) because like you I came from a non-Finance background and I wanted the Finance knowledge, but I didn't want to waste my time studying topics like marketing, etc. that would be in a Masters in Management program.

I also did a year at LSE during my undergrad. There are loads of Americans there and a large LSE alumni base in the U.S., although it is mainly in cities like NYC, DC, etc. Many of the LSE alumni groups also have events with Oxbridge alumni etc. too. I get the newsletters but I honestly havent taken as much advantage of this as I should have. The very minimum I can promise you that the LSE name carries weight over here, at least in my experience.

I feel like based on these stats below that the MSc Finance and Private Equity is alot more competitive than Duke MMS. http://www2.lse.ac.uk/study/graduate/taughtProgrammes2012/MScFinanceAnd…

Did you apply to any American MSF programs? There is still time to apply for many.

I can also tell you this: If I chose to go to a Masters in Management program, Duke would have been the one that I accepted.

 

I was accepted to some MSF programs, but I figured if I was going to do MSF I'd just go to LSE. My thought in doing the MMS is that I get enough coursework to go into finance, but additional coursework that can be relevant if for whatever reason I'm unable to get into finance. My thought is that yeah--the LSE program was definitely harder to get into--there was a 2-3% admissions rate--but having gone to a top tier college for undergrad, I've found that whether the school is a target is of greater importance. Both are targets--just for different countries. I suppose what it comes down to is what the economy is like in the UK right now--and I'm hearing some mixed things.

 

The LSE MSF is indeed very competitive and out of the British universities still has some of the best placement. However the hiring situation in the UK is really ultra competitive so that even LSE is not a job guarantee. While some people say the overall situation will pick up again, there is no guarantee.

If you can get reliable info from people in the US about the clout of LSE, I think it will generally give you a better preparation concerning your background and job ambitions. What you should also take into consideration is that if recruiting in the UK remains low, then you will have to apply for the US from a very remote location.

What it boils down to for me is: where would you like to work eventually? If you like the UK and would be willing to accept some delay due to "relocation", I'd go for LSE.

 

EuroLocust,

Would say the UK job market is tougher than in the U.S.? I wouldn't mind working in the UK, but I know that even there that the LSE degree doesn't guarantee anything, and gives you some very specific coursework--whereas the Duke degree, at least in my mind, gives you some broader, more widely applicable knowledge, and certainly enough to prepare for internships and full time opps. in finance.

 

bump

Also, to complicate things, I was accepted to Wash U MSF today. I turned down Vanderbilt a number of weeks ago, so the schools in contention are Wash U, Duke, and LSE. I hear Wash U is only a semi-target, so I'm still leaning Duke if we're talking about U.S. programs.

 

Well, I think the job markets in UK and US are currently equally bad. But as you pointed out you might have a slight disadvantage in the UK since you are not British.

I have a general management degree and while this gives you a broader perspective, it is hardly considered a real skill. You really need relevant finance internships to get a shot at full time recruiting. Don't know if you can already provide that. With a finance background you still have lots of options outside of the banking world. Friends of mine went into MBB or more corporate positions. I don't think you exclude a lot of job opportunities either way, but if you know which direction you want to take, it will give you an edge either way.

To be honest, I am just very superficially familiar with the US MSF programs, so I can't really offer huge support there. All I can tell you is that LSE will set you up with the best possible background in finance.

Note: I did not study at LSE but know lots of people who did. ;)

 

Thanks for that advice EuroLocust. I've got a PE internship and will be doing a summer internship at a boutique bank this summer. Of course I don't think that a Duke MMS would teach one everything, or specialize in any one area. Yet, from my perspective, LSE's syllabus seems so geared towards complex financial instruments--derivatives, options, etc.--that the only non-finance one could do would be consulting (where Duke places well anyway) and internal M&A.

As you can tell, I'm partly just looking for validation that Duke is the right choice. I think it is--especially as I'd prefer east coast and TX placements if I was to stay in the U.S.--it's just that the LSE brand name is so strong.

 

As a Fuqua grad who was hired out of b-school by Goldman Sachs, I can say they definitely have good relationships with all the top banks at Duke. Your decision should be based more on where you want to work after school, however, as you correctly identify some of the Visa issues and other hassles of trying to go outside the country in either direction. Plus, your network will be left behind for the most part if you go to a country outside your b-school. Certainly the world is becoming a global marketplace, but the practical reality is that most of the graduates of your chosen schools will remain within 1000 miles of the school. Hope this helps.

Bryant Michaels Veritas Prep Consulting
 

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