The Difference Between Various Master's Programs in Fianance & Also Whether or not to do MBA instead
Hello everyone!
I am currently doing my undergraduate in Applied Economics & Finance with a minor in Accounting. I would like go get my master's degree in finance; however, I am not sure which finance program to choose because apparently there are a couple of them.
So first, I would like to know the differences between MSF, MSCF, MSQF, and other finance programs that I may have forgotten to mention. *It's worth mentioning that I am mostly interested in MSF - but it seems like it's the least prestigious finance program in terms of difficulty and salary?
Secondly, I have understood that if you haven't had any work experience then doing an MBA isn't worth it. Is it 100% true? Shouldn't I look for MBAs programs as well? I feel that overlooking schools like Wharton and Harvard because they don't offer MSF but do offer MBA is quite stupid.
Thank you guys :)
Happy to join this community,
Daniel
msc. f/msf/etc. = for pre-experience (0-2 years), looking to break into finance mba = post experience (3 years +), for a career switch, advancement in position, etc
Thank you! And among the finance programs, is there one that's considered better than the others or they simply teach the same thing?
its essentially the same thing for the purposes of breaking into IB, but different programs will have different curriculums so some will vary in what they teach - but no, one is not 'better' than the other.
e.g., Oxford MFE vs LBS MFA
essentially sets you up for a job in IB, but oxford is more theoretical while LBS is more applied, but they are both considered the same under the "Masters in Finance' umbrella
Thank you !
It totally depends on who you are and your situtation. In some cases, it doesn't make much sense to not go to a Top 25 school. For others, it makes all the difference to grab an MSF or MBA from a regional school depending on your city. It's hard to have a universal rule to apply across the board.
That being said, GENERALLY most would agree MBA doesn't make sense immediately post grad. I mean, what management exp do you actually have?
On the other hand, an MSF (depending on the school) is either IMO (1) a 5th year of advanced education or (2) gives you a ton of networking opps and prestige. Going to "State University" for your MSF vs MIT/Vandy has two entirely different recruiting pools. It really depends on what YOU want to do post grad as opposed to just grabbing degrees.
Also: I'm in an MSF now so feel free to DM if you have more questions
Thank you for your response!
What did you mean by a 5th year of advanced education? And of course, I am aiming for top universities.
At the same time, many of them require prereq. such as programming (Phyton, C++... etc.), linear algebra, and so on AND I have heard that an MSF is less valuable today as opposed to MSQF (quantitative finance).
What do you say?
I'd be happy to PM you.
a "5th year of education" is a phrase that gets thrown around for some MSF programs that are not high caliber. Some employers/people view it as "oh, they just went to undergraduate for a another 2 semesters before graduating". For example, I have a coworker who only had to take an additional 4 classes in finance to get her MSF. By comparison, I'm going to a much different school where you have to take 30+ hours of grad courses.
Depends again on what you're wanting to do (I know it's a cop out answer). an MSQF is going to be 99% quantitative, which also tends to make more $$$. If you want to do Wealth Management or something, the MSQF would be pointless. MSF can be quantitative depending on the school and course load, but it's not that crazy of math. Top MSF programs want to see you've been challenged, but top programs like MIT vs. Vandy have much different curriculum structures.
TLDR: If you like math and quant stuff, then look at MSQF or Fin. Engineering degrees. If you want more of the traditional finance route look at MSF.
MSF is a somewhat new and relatively unproven distinction when placed side by side with MBA which is a proven path to high finance (assuming you go to a top program). I am currently enrolled in an MSF program because it was a better fit for my situation, but if someone has stellar grad scores and a great undergraduate GPA coming out of undergrad that has many connections on Wall Street, then I’d advise going the MBA route after a few years of analytical experience in some domain of finance. If one decides to go the MSF route, I would argue that the degree’s worth is proportional to the university’s prestige when comparing it to other MSF’s. What I mean is, going to a name brand institution for your MSF will open a lot more doors for you than getting an MSF from a lesser name brand institution.
I agree with what you said; I am only aiming to apply for good schools
The MSF is different than a MFE/MSCF/MSQF. MSF is a more in-depth into traditional finance and honestly you can compare it to the CFA in it's material at most schools. It places into more traditional areas of finance and depending on the school can even get you into banking.
MFE/MSCF/MSQF are more quant heavy and require strong backgrounds in math and computer science typically. They pay far better than MSF's but have much tougher admission requirements (Calc 1-3 series, differential equations, calc based probability and statistics at a minimum and usually a proficiency in an object oriented programming language
MBA programs that will place well into the types of jobs pursued on this forum will pretty much always require work experience. You can applied to deferred programs right now if you're deadset on an MBA but I'm not as familiar with that
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