The future of MSF!
Hello everyone,
I am a Business Administration graduate with work exp in the finance sector and a prospective MSF student, and I would like to share some thoughts on the MSF ( pure MSF not FE etc.) future as compared to MBA.
My US MSF rankings:
Tier 1: MIT
Tier 2a: BC, Vandy, Wustl, CMC, U-Texas
Tier 2b: USC, Rochester, Nova, U-florida
Tier 3: JH, Baruch, Brandeis, GW
Tier 4: ....
Tier 5: ....
Top MSF programs are very rigorous and require high quantitative and analytical skills, a lot more than the MBA.
An MSF will provide more in-depth finance knowledge than an MBA with concentration in Finance.
Class stats of top MSF` are almost equivalent to the top MBA` ( maybe only top 5 MBA` have superior stats), with average GMAT almost to the 700s, average GPA 3.5-3.7, so MSF students are of high intellectual and academic ability.
MBA` are everywhere, almost anyone can pursue an MBA ( maybe not a top 10 US MBA ). Even in my home country most of my friends already have or are doing an MBA, maybe not a top MBA but nevertheless an MBA, whereas MSF` are much more rare.
Of course the main difference is the work exp/quality required to attend a top MBA, but other than that I feel that for positions in the finance sector an MSF is the better choice for most people.
So what is the future of the MSF, I feel it is currently underrated, whereas MBA` are overrated, is that the case?
I am eager to hear your thoughts about the future of the MSF!
BC is not better than nova. Both should be in 2b
These rankings are largely irrelevant. I truly don't get the fixation. You have programs that are active and can place into front office roles and you have programs that aren't active and you basically have a very small shot at front office. Of the active programs MIT is king because of its brand and global reputation. Outside of that you have regional programs.
The future for the degree is simple. It will continue to grow and see increased programs. Probably a rate of two to three new ones a year. The top 10 business schools will be slow to adopt, but the rest will add them rapidly. It's a common sense, bolt on program that most business schools can add and generate significant money in an environment when people are choosing to either go part time or not at all for non elite graduate programs.
It's also a common sense degree. Many T50 MBA programs would admit their schools undergrads as a way to retain students. It's bad for the school and bad for the kid. The one year masters is a great way for these UGs to stay with the school and still leave the MBA option open.
Employers will recognize the degree more, but probably not pay more for it unless the quality of UG in their area is below par. Entry level is entry level.
Check out the GMAC website. They occasionally post stuff discussing trends.
TNA, do you see MSF programs gaining popularity? One trend that I see on the horizon is that as different business functional areas become increasingly specialized that the value of a generalized degree is going down. We're already seeing that with generalist undergrad business degrees as a lot of them, unless they have a BBA with strong name recognition, are finding themselves lucky to land retail management jobs. For example I even know a lot of guys from UGA(a well respected school in the SE region) who have BS Management or BBA degrees and are working retail. I've also noticed that the esteem in which employers hold MBA degrees has been declining rapidly over the past decade.
My prediction is that eventually we're going to see either a flip where we become like Europe and specialized MS degrees are preferred, or that we're going to see an upsurge in compartmentalized, specialized MBA programs like the program the U. Madison is pioneering where the students in each concentration are separate cohorts with separate course requirements.
For entry level finance roles you don't need a masters. That being said, as more schools offer it and more people have it the degree will become more well known. Grad school isn't easy and you'll usually find some level of respect having it. Whether that translates into more money will be on a company by company basis.
TNA, you said rankings are largely irrelevant and I agree, but they do play an important factor. It is all about marketing today and when people see a program high in rankings, they tend to think it is good or more valuable or more recognizable. Even top programs, such as MIT
mfin, advertises in its official site, that it is ranked n1 in Financial Engineers rankings, BC advertises that it is ranked n2 in US behind MIT according to FT rankings and so on, and its the same for MBA`.So higher rankings attract better candidates and most importantly employers tend to value high-ranked programs more. So with the future expansion of the MSF, I believe we will start seeing more and more official rankings about the program.
TNA, since you are an expert on the matter, you could maybe do a thorough research (class stats, placements, salary, career advancement, employer recognition etc) and post a good ranking list in your site, I believe that since people trust your opinion (myself included) and most rankings are off-balance, an actual good ranking, would be a nice first step for the MSF expansion.
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