Msc. Finance - For non-IBD career path?

Hello Everyone,

Background: After much research on Msc / Ms. Finance programs it seems to me that 80% of the students intend to go into IB. I have no desire to get into IB or Management Consulting, but I still want to stand out and have a rewarding career. I would rather use my degree to get a position as a finance analyst / treasury analyst / credit analyst at a large bank, corporation, or big four accounting firm.

Question: Would a Masters in Finance be applicable in this case? Would my lower career aspirations hurt my statement of purpose in my application?

After all, having students graduate into IB roles would be much better for the school's reputation than just a run of the mill analyst at a fortune 500 company.

What are your thoughts?

Best Regards,

Snookie4President

 

Hi Snookie,

I think a MFin education will fit your career goal. MAYBE not big four accounting (depends on what your position is though). When I look at Princeton's MFin, their students go to work in a variety of fields in finance. Some are in government, some are in central banks at different countries, and some even decided to pursuit a PhD in finance.

 

Hi Humble,

I'm not sure what you mean by MFin Education. Do you have an example of programs?

Another motivation for me to get a Msc. Finance is many schools (in the UK at least) teach some of the CFA curriculum. Thus, I'd be killing two birds with one stone. (Getting my masters and studying for the CFA.)

 
Best Response

Hi there,

I understand where you coming from. If you are at UK, then there are many good programs such as:

Imperial Oxford Said Cambridge Judge LSE (Msc in Econ, Finance (or both), Msc in Finance & PE, Msc in Finance & Acct) Warwick

If you are in US, good programs are:

MIT Princeton

Hope this helps.

Edit: what I mean by Mfin is Master of Finance. Personally, I think it is just a matter of nomenclature, I personally think the differences between Master of Finance and Master of Science in Finance is marginal. But of course I know AnthonyD will be opposed to this idea, hahaha. So I guess just look at the courses you will be taking and see if they are want you wanted to learn.

 

Snookie Profile:

GPA: 3.6/4.0 GMAT: 600 Major: Finance/Computer Science Non-Target, State University

Extra Curricular: Outstanding (ie. President of prestigious club & other) Work/Internship Experience: Outstanding (ie. Corporate Finance in a F500 Company and other finance related) Citizenship: U.S. & E.U.

Overall, a modest profile compared to most on this forum, however most of you guys are freaks. Respectively. That said, I'd point out I'm in a unique position with my dual citizenship, great internship experience, and extra curricular activities.


Target Schools (UK):

1.) LSE (Reach) 2.) Imperial College (Target) 3.) Warwick (Target) 4.) Cass (Target) 5.) Durham (Safety?)

How does this sit with you guys? Being from the states, I was surprised to learn that most schools do NOT require the GMAT (LSE does). My guess as to the reasoning behind this is that schools pick the TOFL over the GMAT for international students.

Side Note: Not much said about Durham in online forums, looks like a great program though, not sure why not more isn't said about it. I've hear people say that if you don't make it to Oxbridge you go to Durham. Which is like saying if you don't get into Harvard or UPenn, you get into Dartmouth. Can anyone verify this?

 
Snookie4President][quote=humble_dude:
What is Durham?

Durham University - close to Newcastle

http://www.dur.ac.uk/dbs/degrees/msc_programmes/

By the way I have a great resource for Msc. Finance programs. It shows all the US & International programs:

http://www.bus.lsu.edu/academics/finance/faculty/dchance/MiscProf/MSPro…]

Oh, thanks! my bad I thought you are talking about Duke.

 

Durham is considered average, maybe a little better than average when it comes to MSc Finance programs in Uk. The reason schools require TOEFL (from which you're exempt) is to make sure internationals have adequate fluency in English.Don't think it has anything to do with GMAT. UK schools seem to place lot of weight on GPA and relevant coursework so that probably works in you favor since you have a pretty good GPA and assuming you have decent math background. The only problem is that you're from a non target state university, so not sure how schools would view your GPA. But honestly, I would recommend that you retake your GMAT and try to improve your score (>650) if you want to improve your chances of getting accepted at your target schools. You might also want to consider diversifying your list to include schools outside of UK (Bocconi, St. Gallen, RSM), all great programs and on par with your target schools.

Hope this helps

Snookie4President:
Snookie Profile:

GPA: 3.6/4.0 GMAT: 600 Major: Finance/Computer Science Non-Target, State University

Extra Curricular: Outstanding (ie. President of prestigious club & other) Work/Internship Experience: Outstanding (ie. Corporate Finance in a F500 Company and other finance related) Citizenship: U.S. & E.U.

Overall, a modest profile compared to most on this forum, however most of you guys are freaks. Respectively. That said, I'd point out I'm in a unique position with my dual citizenship, great internship experience, and extra curricular activities.


Target Schools (UK):

1.) LSE (Reach) 2.) Imperial College (Target) 3.) Warwick (Target) 4.) Cass (Target) 5.) Durham (Safety?)

How does this sit with you guys? Being from the states, I was surprised to learn that most schools do NOT require the GMAT (LSE does). My guess as to the reasoning behind this is that schools pick the TOFL over the GMAT for international students.

Side Note: Not much said about Durham in online forums, looks like a great program though, not sure why not more isn't said about it. I've hear people say that if you don't make it to Oxbridge you go to Durham. Which is like saying if you don't get into Harvard or UPenn, you get into Dartmouth. Can anyone verify this?

 

Hmm I would not say so. At my school, they were more or less desperate to pair us up with non-banks such as insurance companies (especially) or corporates, usually sponsors of the school. It is important to them as their budget is not 100% tuition fees. Good relations means good recruiting.

I'm not an admissions officer, though.

 

Also one more thing, don't waste your money on LSE application fee. I can tell you right now, it will be near impossible to get in, especially this late in the admissions cycle. Unless you can manage a 700 or above GMAT, don't bother.

 
tentop:
Also one more thing, don't waste your money on LSE application fee. I can tell you right now, it will be near impossible to get in, especially this late in the admissions cycle. Unless you can manage a 700 or above GMAT, don't bother.

You are absolutely right about LSE. It's extremely competitive. I should have mentioned how I still have another year to go and another shot at the GMAT. Whether or not I apply is based on my next GMAT score and grades.

 

couple of things

first, what kind of state school did you go to? is it one that is well known outside of the USA or is it one of the lower tiered ones.this actually does make a difference when it comes to applying abroad

second, you need to retake the GMAT

a 600 won't get you in anywhere competitive.

aim for a 680+

 
Affirmative_Action_Walrus:
couple of things

first, what kind of state school did you go to? is it one that is well known outside of the USA or is it one of the lower tiered ones.this actually does make a difference when it comes to applying abroad

second, you need to retake the GMAT

a 600 won't get you in anywhere competitive.

aim for a 680+

I go to a school on the same level of the University of Miami. It's well known nationally because of it football team and we have a slightly above average business school, but we are certainly not a University of Michigan. I'd say we have a slightly competitive program.

I'm counting on my GPA, outstanding internship experiences, and dual citizenship to carry me through. On most of the admission pages they don't even mention the GMAT, and when they do, they say only add it in if it helps or they will ask you to take it if they question the validity of the school you went too (which my school is borderline). It seems to me that they don't stress it much at all. There is no average GMAT class profile either.

"We do not take into account your score for the GMAT or GRE examinations when considering your application, and we therefore do not require you to take these exams. If you feel you would like to include any such results, you may do so on the space provided on the online application form."

                                         ~Imperial College Msc. Finance~ 

At the end of the day, I think taking the GMAT again is unavoidable. If I did get above +700 I'd have a shot at LSE for next fall. Even if I get into the program I want, I'll still have to study for it when I go for my MBA.

+200 hours of studying for a 2 hour test on material that means nothing the second you finish it that directly determines how successful the start of your career is. (GMAT Grammar)

 
Snookie4President:
Affirmative_Action_Walrus:
couple of things

first, what kind of state school did you go to? is it one that is well known outside of the USA or is it one of the lower tiered ones.this actually does make a difference when it comes to applying abroad

second, you need to retake the GMAT

a 600 won't get you in anywhere competitive.

aim for a 680+

I go to a school on the same level of the University of Miami. It's well known nationally because of it football team and we have a slightly above average business school, but we are certainly not a University of Michigan. I'd say we have a slightly competitive program.

I'm counting on my GPA, outstanding internship experiences, and dual citizenship to carry me through. On most of the admission pages they don't even mention the GMAT, and when they do, they say only add it in if it helps or they will ask you to take it if they question the validity of the school you went too (which my school is borderline). It seems to me that they don't stress it much at all. There is no average GMAT class profile either.

"We do not take into account your score for the GMAT or GRE examinations when considering your application, and we therefore do not require you to take these exams. If you feel you would like to include any such results, you may do so on the space provided on the online application form."

                                         ~Imperial College Msc. Finance~ 

At the end of the day, I think taking the GMAT again is unavoidable. If I did get above +700 I'd have a shot at LSE for next fall. Even if I get into the program I want, I'll still have to study for it when I go for my MBA.

+200 hours of studying for a 2 hour test on material that means nothing the second you finish it that directly determines how successful the start of your career is. (GMAT Grammar)

go gators?

anyways, if it's a large school ranked in the top 1-2 tiers of US unis, which it sounds like yours is, admissions will know about it, so don't worry about questions of validity. Questions of validity would be for a school like Akron or Fresno State that nobody knows about.

a GMAT retake is a must for entry to competitive program and there really is no sense in attending a non-competitive program

 
tentop:
They usually recommend, but not require a GMAT. US MSF programs require GMAT.

When UK schools say they "Recommend to take the GMAT" I feel like that is such a grey area because it implies that you should. I wonder if more applicants are selected with GMAT scores than not.

If I wouldn't have to take the GMAT again, I wouldn't.

 
Snookie4President:
tentop:
They usually recommend, but not require a GMAT. US MSF programs require GMAT.

When UK schools say they "Recommend to take the GMAT" I feel like that is such a grey area because it implies that you should. I wonder if more applicants are selected with GMAT scores than not.

If I wouldn't have to take the GMAT again, I wouldn't.

The most important thing when applying to schools in UK is you undergrad GPA and specifically relevant course work with good math background. I would say UK schools rely less on GMAT than US schools or other European schools. A friend of mine got accepted into Imperial, Warwick, and LSE (accounting & Finance) Finance programs with only a 620 GMAT score. He might not even have submitted his score, since its not required. This is just one example, but I believe it is representative one.

 

Quibusdam quis rerum quod suscipit magni. Odit alias qui aut repudiandae. Corporis nihil dolorem et tenetur sit.

Qui voluptate quidem et natus voluptatem tempora. A voluptatibus sed assumenda placeat sint aperiam voluptatem nulla. Ut veniam minima eum vel molestias.

Id soluta ea dolorem similique. Odit accusantium nihil sed doloribus adipisci accusantium. Omnis ut dolor tempore quia.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”