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Economics VS Finance Masters

Hi everyone, I'm currently a little torn on what postgraduate courses to apply to in future. For context I'm currently in my second year studying Economics, predicted a first (78% currently), and have an internship this summer as a Private Equity Analyst.
While I enjoy studying economics, it seems a masters in finance has better opportunities after graduating, including IB, AM, Consulting which are all careers I'm interested in. On the other hand it seems a masters in Economics is less useful for these careers (more desirable for Central Bank, Economic Consulting roles), and so I'm unsure which one would be more beneficial for me. Would my experiences during the internship be enough for me to break into the Front Office Banking/ AM roles with an economics masters, or would it just make more sense to do masters in finance instead. (the main masters I'm currently looking at are MPhil at Oxford/ Cambridge or MSc Finance at Imperial). Any thoughts are appreciated, thank you.
Reply 1
Hi, I was in the same position.

I can’t 100% answer your question on IB recruitment but, I can share my experiences.

During an internship of my own I asked the my MD a similar question and he said it doesn’t matter. (This was in global markets area, not something like M&A so idk about that)

(Equally, some MSc finance courses get better careers help/access to networks from the uni out of the business school over the Econ department. Either way I don’t think this matters too much as you’ll have to do most of the ground work yourself when applying)

A lot of MSc finance courses can be taken by anyone that has a somewhat quantitative undergrad degree. (LSE for example). Hence these people use this as a way to shift fields. (Econ students yes)

These unis also sometimes offer finance and economics master courses tailored to economics students. (E.g. Cambridge MPhil in finance and economics or LSE MSc Finance and economics) idk about Oxford I didn’t apply.

At LSE that course is more prestigious than the MSc Finance and can also provide you grounding for PHD if that’s your thing.
it changes between unis and courses so research!

For me, I’m interested in global markets, so Econ is very relevant. Hence why I have chosen finance & Econ.

I could possibly see pure finance being more relevant for M&A. I’d need someone else to comment on that?

I also have zero interest in consultancy so idk, but I imagine a pure finance degree would be less suited than Econ?

Sorry couldn’t have been of more help. But consider F&E if you haven’t already!

Good Luck!
Reply 2
Thank you very much mate! I'll look more into F&E
Original post by Nshlm
Hi, I was in the same position.

I can’t 100% answer your question on IB recruitment but, I can share my experiences.

During an internship of my own I asked the my MD a similar question and he said it doesn’t matter. (This was in global markets area, not something like M&A so idk about that)

(Equally, some MSc finance courses get better careers help/access to networks from the uni out of the business school over the Econ department. Either way I don’t think this matters too much as you’ll have to do most of the ground work yourself when applying)

A lot of MSc finance courses can be taken by anyone that has a somewhat quantitative undergrad degree. (LSE for example). Hence these people use this as a way to shift fields. (Econ students yes)

These unis also sometimes offer finance and economics master courses tailored to economics students. (E.g. Cambridge MPhil in finance and economics or LSE MSc Finance and economics) idk about Oxford I didn’t apply.

At LSE that course is more prestigious than the MSc Finance and can also provide you grounding for PHD if that’s your thing.
it changes between unis and courses so research!

For me, I’m interested in global markets, so Econ is very relevant. Hence why I have chosen finance & Econ.

I could possibly see pure finance being more relevant for M&A. I’d need someone else to comment on that?

I also have zero interest in consultancy so idk, but I imagine a pure finance degree would be less suited than Econ?

Sorry couldn’t have been of more help. But consider F&E if you haven’t already!

Good Luck!

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