UK STEM Degrees and Recruiting Timeline: Some Advice

I've seen a few UK threads about three year and four year degrees recently and how these impact the recruiting timeline. As such, I thought it might be helpful to offer some advice as someone who was in the same situation. The following refers to BSc/MSci degrees and BEng/MEng integrated masters degrees. 

Should I do an integrated MSci/MEng?

There are pros and cons.

Pros:

• Cheap way to do a master's degree, which some finance/consulting jobs - especially quant roles or specialist industries - are now increasingly looking for. Also basically essential to have a master's if you are recruiting for continental Europe. Potentially can also avoid the MBA route later.
• A known quantity - generally less stress than entering a separate MSc and likely to better suit standard finance start dates, whereas MScs often end in late August or September. 
• Two shots at recruiting for spring weeks and summer internships. 

Cons:

• Generally don't require a master's for London finance, with the exceptions above.
• Might be better served doing a business MSc instead to add a different background. Similarly, an MSc at a different university can provide a new network. Cambridge BSc NatSci + LSE MSc Finance or Imperial BEng Materials Science and Engineering + LBS MFA will likely be better than a straight MSci or MEng for recruiting. 
• Sometimes not regarded as equal to a postgraduate master's. 
• Academic prizes are often easier for BSc/BEng students, as the best/most academic students normally stay on for a fourth year. Depends on how the University does their class rankings though. 

Personally, I ended up starting on an MSci but switched to a BSc and did a separate STEM MSc in something I was more interested in at a different university. That said, it's worth emphasising that a master's is not required for the vast majority of finance jobs in London.

Recruiting from a four-year course

However, assuming you've decided to do a fourth year, you're probably wondering if you need to wait until second year to apply for spring weeks or third year for summer internships. Despite what banks will tell you, the short answer is no. 

Most target universities are flexible with switching between the options and will let you switch to the BSc/BEng for background checks and then back to the four year degree afterwards. At my UG it was openly encouraged by both the departmental careers team and the broader university career services. However, I would highly recommend that you have someone who you trust (personal tutor, head of careers, director of studies, etc) who is aware of what you're doing and can vouch for you if problems arise with background checks (e.g., 'their switch hasn't been formally changed on the system yet'). 

This gives you two shots at recruiting and is generally your best bet. First year you apply for spring weeks, second year you apply for spring weeks and/or summer internships, third year just summer internships. If you get a summer internship for second year, take it but be prepared for them to refuse to delay the return offer by a year - I would normally look to use it as a stepping stone to a better internship for third year summer. Just make sure that you're happy to, and can from a degree perspective, graduate with just a BSc/BEng if they make you an offer and are unwilling to wait another year for you to join. Ideally, you intern at the firm you want to join in your summer third year. 

This is true for pretty much any target university for any science or engineering courses, except where a three year degree option doesn't exist for some select engineering courses which are MEng only (mostly at Oxbridge and Imperial). Ultimately, there is no need to restrict yourself to only one shot at recruiting; if you're putting yourself through the pain of four years of education, maximise your chances at recruiting and work with your university's careers team or departmental advisors to advantage yourself as much as possible.