Early MFin vs Later MBA
Do you guys think a MFin right after undergrad or MBA after 3-4 years would be a better career move for someone with a lackluster junior summer internship? If I end up lateraling somewhere decent I'd opt for the latter, but if that doesn't happen would a 1 year MFin make sense? I've heard that many without great SA experience struggle to land FT offers from the 1 year programs, would that be a justified worry? While a MBA seems like an almost guaranteed career booster, and moreso than the MFin, waiting 3-4 years for a chance at a top job seems like a long time. A bit of background about me: American from a decent non-target and would be open to studying in Europe.
Bump
It depends on which MFin and which MBA (alongside other factors).
For the MFin I'd probably be applying to MIT, LBS, LSE, Oxford, and HEC. As for the MBA it'd be the M7 and maybe those slightly behind like Haas and Tuck.
Also depends on your career goals... what are they? You say you'd be open to working in Europe; it sounds like you don't have much clarity on your goals. That's perfectly fine, but you shouldn't go do a masters with this mindset as it's a dangerous and easy way to waste a LOT of money.
I'm open to Europe because that's where the best MFins are. I didn't put it in the post but I'm very much focused on IB. The post was generally to gauge which route is better, regardless of industry.
We are looking at two completely different degrees that potentially could get you the same job. MFIN is very specific in nature and pursing it will mostly limit your opportunities. MBA on the other hand can be very broad and open your opportunities if you ever want to transition out of your current job.
My advise to you would be - if you are struggling right now to land a job due to COVID, go for MFIN - 1 year program. MIT/Vandy are great for USA. LBS/LSE are great for London. HEC/IE is good for London with some other european countries (given you know the local language). Oxford I believe is an MFE program similar to Princeton, Columbia, Haas - Very Quant focused and will only open your opportunities to quant focused roles.
If you end up like not liking your IB job after pursuing MFIN, you can after 4-5 years of exp get an MBA and focus on lets say a rotational role or consulting. MBA is great for switching careers/function/location which you otherwise cannot do with your current job. It is common for applicants to pursue specialty Master > Job > MBA.
If you are able to land a job right now - stick with it. Progress through the company and work on big quantifiable projects and then go for MBA. You can get the same job with as MBA as you would with MFIN (different levels - MFIN = analyst, MBA = Associate). I would always prefer this route so I don't take on double the debt if I pursue MFIN and an MBA, but do what suits your current situation the best.
Yeah that's the crux of the issue: get a better initial job with the MFin (but have more difficulty in doing so) or settle for something you don't want to do for 3-4 years but then get a MBA (and go through an easier recruiting process with more options). I've heard a lot of people struggle with 1 year MFin recruiting because of the lack of a SA internship, which worries me. As for the Oxford MFE, it is more quantitative than the other options but most people head to non quant roles (IB, Consulting, etc.)
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