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    Hi All,

    I would like to get some advice from people who may have been in a similar position.

    I'm an LSE BSc Economics student - going into my second year in October. I am fortunate to have been offered an internship with a bulge bracket investment bank (in the advisory arm - ECM, DCM, M&A etc) for next summer 2015. Upon completion, if I'm successful I will be offered a graduate role with the department I interned with.

    Part of me wants to undertake a master's degree at some point in the future (for my own interest and fulfilment).

    The questions I have are:

    • Is whether by doing a masters straight after my undergraduate degree, I spoil the recruitment process for the graduate position
    • Is the cost (between £15-30k on tuition alone) worth it - with a bump in salary and career progression?
    • Would it be better for career progression if I were to undertake the masters programme after a couple years of being an analyst?


    Also: the Masters degree would be in economics/financial economics/financial mathematics or something of that ilk
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    Just hold out for a MBA.
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    (Original post by Blinx-MasterOf')
    Hi All,

    I would like to get some advice from people who may have been in a similar position.

    I'm an LSE BSc Economics student - going into my second year in October. I am fortunate to have been offered an internship with a bulge bracket investment bank (in the advisory arm - ECM, DCM, M&A etc) for next summer 2015. Upon completion, if I'm successful I will be offered a graduate role with the department I interned with.

    Part of me wants to undertake a master's degree at some point in the future (for my own interest and fulfilment).

    The questions I have are:

    • Is whether by doing a masters straight after my undergraduate degree, I spoil the recruitment process for the graduate position
    • Is the cost (between £15-30k on tuition alone) worth it - with a bump in salary and career progression?
    • Would it be better for career progression if I were to undertake the masters programme after a couple years of being an analyst?


    Also: the Masters degree would be in economics/financial economics/financial mathematics or something of that ilk
    Answers to your questions:

    1. It depends on the specific position, if you do decide to do the masters, then let HR know ASAP. I think it harms your chance of being offered a full time role. I can't imagine you want to miss that opportunity.

    2. No, it's not worth it. No one really cares about your degree(s) in IB after the first couple of years. You won't get any bump in salary for having a masters degree. It's only different if you have a PhD and you're being hired as a quant.

    3. It's foolish to undertake a masters degree after a few years in the industry. You would be out of the game so to speak, few things you learn in the masters will be appropriate and applicable to the actual job. Therefore this only harms your chances of progressions. Also, most banks wouldn't want you to take that time out and then fit back in.
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    (Original post by Crazy92)
    Answers to your questions:

    1. It depends on the specific position, if you do decide to do the masters, then let HR know ASAP. I think it harms your chance of being offered a full time role. I can't imagine you want to miss that opportunity.

    2. No, it's not worth it. No one really cares about your degree(s) in IB after the first couple of years. You won't get any bump in salary for having a masters degree. It's only different if you have a PhD and you're being hired as a quant.

    3. It's foolish to undertake a masters degree after a few years in the industry. You would be out of the game so to speak, few things you learn in the masters will be appropriate and applicable to the actual job. Therefore this only harms your chances of progressions. Also, most banks wouldn't want you to take that time out and then fit back in.
    Okay; that's a very fair point. So, if I were to go ahead with it, and let HR know - would my graduate position be dependant on a master's degree classification or undergrad degree?
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    (Original post by Blinx-MasterOf')
    Okay; that's a very fair point. So, if I were to go ahead with it, and let HR know - would my graduate position be dependant on a master's degree classification or undergrad degree?
    Undergrad.

    To be perfectly honest, it's fairly stupid to do a masters if they offer you the position.
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    (Original post by Crazy92)
    Undergrad.

    To be perfectly honest, it's fairly stupid to do a masters if they offer you the position.
    Arrgh decisions! Thanks for the pointers though
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    Why don't you work for a couple years after your undergrad and apply for an MBA, if you want to pursue further education.
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    Would second what's already being said but just to emphasis it from people I know.

    In total honesty, if you get offered a position it is crazy to decline it and do a Masters. In some cases, you'll have to go through recruitment all over again.

    If you want further education, do a few years and then do an MBA at a top institution, this isn't necessary but may come in handy at some stage. And probably more handy than a Masters.

    Most people only do Masters if they have failed to secure a full-time offer in order to buy themselves another recruitment season.

    For IB, it's just not necessary.

    It's only necessary for extremely specific roles or for certain roles at the Bank of England for instance.

    Honestly, if you get an offer, take it and don't do a Masters. I will personally feel devastated for you otherwise, that's how much of a wrong move it is.

    If you want to do it because you're interested or for your own fulfilment then sure go for it. But don't do it for your career. Also, to be perfectly honest, you are likely to learn more/better on the job and you will at least find that part of it: fulfilling.

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    I don't think you should do a masters at lse because of the cost- it'd be cheaper to go to oxbridge however. There could be opportunities to do a masters in economics if you wanted to work in the bank of england
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    If you get offered a full time role then don't do a masters, it really would be foolish and it's not really all that necessary
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    Jesus, why would you let HR know that you plan to undertake a MSc. Some guys on here... Obviously tell nobody and try to get that return offer. Make your decisions once you have all the offers on your table, i.e. return offer from the investment bank and MSc offer from your university. Telling HR that you don't "need" a return offer will likely harm your chance of getting one which might leave you in a position with no job offer and no offer from one of your target universities (for whatever reason). Play it safe and don't tell HR, crush the internship and get a nice GMAT. Once everything is done and you have two offers on your table, pick what you want to do (your dreams and career aspirations might change in a year so don't limit yourself). In case that you get that job offer and enjoyed your time with your group, I'd probably stick it out for the analyst years and then do the MFin at LBS (f.e.) to get a "break" after your years of grinding // or do an MBA. Furthermore, PE Megafunds and other elite funds such as Abraaj actively recruit some of their associates from the program, so if you're interested in PE after IB then keep that in mind. I'm on your page with this and prefer a Master's degree in Finance to an MBA. MBAs are good to reset your career and switch the career field but you won't learn that much new. Look up the curriculum, it's basic business, filled with marketing, accounting, finance, strategy, etc. "Pure play" MSc Finance is what I opted for, but that's just me.
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    MSC is a waste of time and money. In most cases, masters programmes are just a cash cow for university. Take the job offer, work a few years then do a top MBA.
 
 
 
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