Masters at London School of Economics
Hi everyone,
I am wondering if its worth doing a Masters in Accounting and Finance at LSE after doing a bachelors in exactly the same subject (A&F) at a non-target uni. I have got an offer for this course but am not sure if I should take it. The only reason I can think of for taking the offer is to allow myself another shot at IBD. Also I got my bachelors degree two years ago and have around 1.5 years of experience.
Below are some questions:
1) Would it be obvious to banks that I am desperate and would they consider me as a boring candidate?
2) Given that I already have 1.5 years of experience, am I still eligible for graduate recruitment upon graduation from my masters degree?
Don't tell me I should do a MBA instead cause with my current job, I cant really see how my application can be strong enough for any top MBA programs.
Any opinions would be appreciated!
Thanks a lot guys.
1.) Probably, especially with the way you put it.
2.) on campus students, no matter their age, are typically eligible for on campus recruiting. This has been my observation with MFE, MFin, and MBA programs in the US. I don't see why it would be different.
Now let me talk some sense into you.
Experience: BB S&T quant x 5 years, currently doing MFE in the US.
How do you get the $100K figure ?
LSE Tuition is around 30K$, plus living expenses you get around 50K$
A&F is just about the most highly-respected MSc program at the LSE
Its interesting that you say this given that the degree is ~8,000 pounds less than the MSc Finance
Ok if tuition is $30K, $50K for tuition and expenses for those 9-10 months if it's a one year program.
That's if you quit the day before you start school and begin working the day after you finish. And you live like a monk for those ten months. I have a reputation for being thrifty on these forums, but I am not THAT thrifty.
In reality, I'd tack an extra $10K on and budget $60K. That's still a great deal of after-tax money.
In NYC finance, LSE is to UChicago as Oxford/Cambridge are to Harvard and Yale. Dumb money either hasn't heard of it or doesn't think it's special; smart money knows it's a really good program. LSE is a great school with poor name recognition outside the City of London, IMHO.
Yes it would be around $50-55K in total for both tuition fees and living expenses.
Actually I want to move to Asia after the MSc and try to get an entry level job in HK or Singapore but I guess, like in NYC, LSE suffers poor name recognition in Asia.
So I guess a more realistic route for me to break into IBD is to stay in London where I can take full advantage of the LSE brand name.
But then the only thing that is holding me back is the subject of the MSc. I am not very sure how IBs would view my resume with both undergrad and masters in the same subject (A&F). Also like you said, there is a possibility that I might end up with a middle/back office job.
So given all these, do you guys still think I should go for the Masters?
MSc in A&F @ LSE probably the best feeder into IBD. It doesn't matter if you look boring or not. You want to reposition yourself for graduate recruiting and having the LSE brand on your CV will definitely help you to achieve that. Also, its always good to have access to a good alumni network and LSE alumni are very eager to help others.
Thanks for the information Matrick.
Have you studied at LSE before or is your info based on your observations?
I have been considering the offer for weeks now but still couldn't make up my mind. One of the reasons is that I am 26 years old now and would turn 27 by the time I graduate from the Masters (if i take the offer).
I know banks don't really discriminate on age but the fact that I am approaching 30s has made me think twice if I should take the risk of spending USD50k on a masters just to get myself another shot at my dream job. I currently have an OK job with OK pay in my country but it is nothing prestigious or anything I want to do in the long term. That being said, I do really enjoy my life here with my family so even if I do get a job in London, I would still want to transfer back to my country.
I second the part about the LSE alumni being very eager to help. If you are a likeable person and can talk nicely, they will help you!
You just said that you do NOT want to do your current job in the long run and that you want to be at home. Why don't you try to network yourself into a boutique or something. Are you looking for a big pay check, prestigious company and prestigious job?
Networking does not really work in Asia I think.
Are you based in HK? Have you seen anyone who managed to break into the industry through networking?
I think if I were younger, say 23, then i would have taken the offer already.
Get the LSE masters. I did mine at LSE, shit made my life a fuck load better. I got my graduate job through an alumni too.
As for reputation in Asia, general rule, if the country has relations with the UK they know about LSE. Even then, I think the Japanese know about LSE too.
Btw, what were your application stats?
Hi Cibo, do you mind sharing your own background? Did you also have a few years of experience before doing a MSc at LSE? How did the MSc turn your career prospects around?
So you would still recommend me to take the offer even if I have 1.5 years of experience and will turn 26 soon?
Yeah, what about someone turning 28 soon ?
LSE has a really good reputation in Asia.. all in HK/Singapore and Australia know about it. they actually value it more than some US schools.
and it doesn't have a great reputation in USA like others said.
It actually cost 100k in your case because you can't work for a year. Btw LSE's rep in Aisa is pretty good. I'm from a poor country over here with no former relation with UK but LSE's name still carries great value. That's with the right people of course but I won't worry about the "don't know" either. Hope to see you there this fall.
Yeah if you take into consideration the income that I will forgo during the year, it would amount to USD 85-90k.
With the industry shrinking and banks still slashing jobs, is it still worth it?
LSE is one of the best programs, but if you don't have work authorization in the UK or Europe it will be difficult to land a job. Since you have some experience it could help you if you re-entered your current career path, using it as a mini MBA. You could try and find something in the UK which is a possibility, but an up hill battle. You could also do the program, travel and come back to the US. If you do that I would start networking in the US right now.
Find LSE alumni in NYC or elsewhere and meet with them for coffee. Know the lay of the land before you go overseas. Once in the program really make an effort to network globally.
I think it would be a good investment, but just make sure you go into it with an appropriate game plan.
No i haven't studied at LSE, but even to me as a non-LSE alumni they were incredibly helpful. Additionally, when I worked in IBD in London, LSE alumni were always very eager to attend presentations and help students out, which is rare, especially at the junior level.
Hmm, interesting perspective. I would suggest that you think long and hard about this. You can always apply for an MBA which will help you to achieve your goals as well, but probably is more adequate to your age bracket.
Yeah I know the economy is bad but it's really a two-way thing. Fewer job postings also mean fewer applicants to a certain degree. People are rational and those who don't have much relevant exp will stop trying or switching to other fields. Moreover, LSE is among the best brand names in the UK (aka your best pick-up line with employers/LSE alumni) so if you can't get a job, it's not really due to a poor school's reputation.
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