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MS in Finance?
Posted on 9/27/12 at 7:55 pm
Posted on 9/27/12 at 7:55 pm
I'm an undergrad finance major at LSU. I'm considering shooting for investment banking. Not only am I obviously not at a target school, my GPA is a little mediocre. I do have good work experience. Is it worth the student debt to go to a place like Tulane, Vandy, or WashU? LSE/LSU?
This post was edited on 9/27/12 at 8:01 pm
8
Posted on 9/27/12 at 9:20 pm to acgeaux129
quote:
MS in Finance
To
quote:
Investment Banking
Don't think this is the best route. The MS will help you get a job doing quantitative work (I have an MS in Finance) but probably not the M&A/Advisory work that it sounds like you want to do.
I'm no expert, but I think your best route is to try to get into a good MBA program after you've worked some and then try to get an IB Associate job. You can accomplish this at Tulane's MBA program, but I don't know anything about the others.
Posted on 9/27/12 at 9:50 pm to acgeaux129
I enjoyed the MS program but would suggest a target MBA over it. Then again, you're generally needing experience for good target admittance, so that may not be an option. If your GPA is mediocre you might benefit from the additional body of work. Have you networked well? IB ops are only so numerous, we don't have nearly enough alumni in it.
Different firms look at MS programs differently. I don't think the ROI would be high at a Tulane. That's a lot of money that's not going to automatically put you over the top over a sharp undergrad from a mid-target up. The LSU MS is fairly inexpensive, it does have that going for it. If you didn't find a job that would also give you some extra time to network and pass L1. I would splurge for a target MBA, but not any MS program, anywhere.
I lucked into an IB that thought highly of the MS. Coupled with having done IA in undergrad, quality experience, and being personable, I won over some Ivy talent. Things depend. I don't want to give you block advice. If your primary question is "is it worth the student debt to go to a Tulane/Vandy/WashU," though I would say no. That just has more to do with the fact that the MS only means so much to people. This trend may change in time, but prospective employers would rather see something like L1 going on 2 in the bank. Those are more uniform benchmarks.
Different firms look at MS programs differently. I don't think the ROI would be high at a Tulane. That's a lot of money that's not going to automatically put you over the top over a sharp undergrad from a mid-target up. The LSU MS is fairly inexpensive, it does have that going for it. If you didn't find a job that would also give you some extra time to network and pass L1. I would splurge for a target MBA, but not any MS program, anywhere.
I lucked into an IB that thought highly of the MS. Coupled with having done IA in undergrad, quality experience, and being personable, I won over some Ivy talent. Things depend. I don't want to give you block advice. If your primary question is "is it worth the student debt to go to a Tulane/Vandy/WashU," though I would say no. That just has more to do with the fact that the MS only means so much to people. This trend may change in time, but prospective employers would rather see something like L1 going on 2 in the bank. Those are more uniform benchmarks.
This post was edited on 9/28/12 at 12:09 am
Posted on 9/27/12 at 10:40 pm to RemouladeSawce
What are some names of investment banks that recruit at Tulane/Vandy/WashU?
Posted on 9/27/12 at 11:30 pm to lsu711
I graduated with a finance degree. Its hard to say if going for the MBA or MS is worth it unless you go to a great school and network. Its cost a lot $$$ almost anywhere you go. That is the problem. If you are confident in yourself that you can make the salary you want to pay off your loans, or lucky enough to have family to pay for it, do it. I am on the fence trying to make the cash before I decide its a good decision financially.
Posted on 9/28/12 at 1:35 am to acgeaux129
Not to be a debbie downer, but if your grades are mediocre at a non-target, you are going to have an extremely difficult time competing against Ivy League graduates w/ impeccable grades/resumes.
Posted on 9/28/12 at 8:59 am to Athanatos
quote:
Not to be a debbie downer, but if your grades are mediocre at a non-target, you are going to have an extremely difficult time competing against Ivy League graduates w/ impeccable grades/resumes.
+1
What kind of undergrad experience do you have?
if you really want to get into IB your best option might be to get a decent job in finance outside of IB for a few year get real experience THEN go get an MS or MBA and then try to get into IB.
Posted on 9/28/12 at 9:19 am to acgeaux129
Recently finished my MS Finance from LSU. More than half of our graduates got jobs with Oil companies in their finance departments. In the past 2 or so years we have had maybe 2 or 3 that I know of go to investment banks. LSU isn't the place for you if you want to do investment banking unless you are very serious about your MS grades and get an IN with an internship or something like that.
Posted on 9/28/12 at 9:53 am to acgeaux129
I'm a few months away from finishing my MBA. From my perspective I'd argue that the MS Finance would be a better choice if Investment Banking is your preferred route.
Like the other posters have noted, IB is a tough field to break into. The high dollar jobs are largely funneled to Ivy's and those with family connections.
The MBA curriculum touches everything from Accounting and Finance to Human Resource Management and Organizational Behavior. The MBA is fantastic if you are looking for a C level or Senior Management position in a non-financial organization.
If I were hiring someone in IB I'd much prefer an MS Finance over an MBA seeing as how the MS Finance curriculum is devoted to key financial concepts.
As for the debt part, I'm of the opinion that name recognition plays a role if you finish from those top 10% B-schools. The return seems much lower once you slip past the elite schools.
Like the other posters have noted, IB is a tough field to break into. The high dollar jobs are largely funneled to Ivy's and those with family connections.
The MBA curriculum touches everything from Accounting and Finance to Human Resource Management and Organizational Behavior. The MBA is fantastic if you are looking for a C level or Senior Management position in a non-financial organization.
If I were hiring someone in IB I'd much prefer an MS Finance over an MBA seeing as how the MS Finance curriculum is devoted to key financial concepts.
As for the debt part, I'm of the opinion that name recognition plays a role if you finish from those top 10% B-schools. The return seems much lower once you slip past the elite schools.
Posted on 9/28/12 at 10:16 am to acgeaux129
I think you can probably over come the low GPA with a good GMAT score. That said, you will need to get into a good school. Don't be afraid to shoot for the a few ivy league schools as well. You never know, if you have a good story you might just get in. I would also agreee with other posters about getting an MBA vs a MS in Finance. Go with the MBA, you can "major" in finance if you wish.
Posted on 9/28/12 at 10:37 am to wiltznucs
I agree that if you wanna go into finance a MS Finance would be better. Its simple, you take way more Finance or accoutning classes in the MS. I had a 36 hr MS program and I took 30 hours Fin, 3 PhD lvl econ/math and 3 hrs acct. I wish I would have done more accounting but if I did MBA I wouldnt have come close to those numbers. It would be ab 12 hrs Fin, and 9 hrs acct max.
Posted on 9/28/12 at 10:42 am to acgeaux129
I think you're odds are better if you shoot for a target MBA. It's a process of a few years though, and you'll need solid work experience (corporate finance, commercial lending, etc), high GMAT scores, and be involved in the community to make it happen. MSf might get you there sooner, but it's certainly not guaranteed that you will get an IB offer.
Posted on 9/28/12 at 10:47 am to RemouladeSawce
quote:
Rockyn
quote:
I lucked into an IB that thought highly of the MS. Coupled with having done IA in undergrad, quality experience, and being personable, I won over some Ivy talent.
You sound very similar to my situation. I did IA program sophomore year and got a decent internship. There have been occasions earlier in my career where I've worked two jobs, 40+ hours, on top of school and still managed to get a 3.6 for the semester. So I guess I'm a workhorse of sorts, a David Pollack if you will. These two factors will be what work to my advantage, and I'm hoping a couple of references I have can help me out. Other thing is that I think there is a realistic chance I can scrape 700 on the GMAT.
This post was edited on 9/28/12 at 10:48 am
Posted on 9/28/12 at 10:51 am to Athanatos
quote:
Not to be a debbie downer, but if your grades are mediocre at a non-target, you are going to have an extremely difficult time competing against Ivy League graduates w/ impeccable grades/resumes.
Appreciate the input. I'll just say that my GPA is most definitely going up this semester for a couple of different reasons, and it's not absolutely awful to begin with. I'm guessing I'll end up with around a 3.5 by the time I graduate.
Posted on 9/28/12 at 11:47 am to acgeaux129
quote:The IA helps. I would definitely focus on getting above the 3.5 GPA psychological barrier. Are you a senior now? You should be getting ready to go balls to the wall on recruiting if you aren't already. You can focus on MS admittance late in the game, right now I wouldn't be nearly as concerned about that than trying to get a gig or at least networking for down the road.
You sound very similar to my situation. I did IA program sophomore year and got a decent internship. There have been occasions earlier in my career where I've worked two jobs, 40+ hours, on top of school and still managed to get a 3.6 for the semester. So I guess I'm a workhorse of sorts, a David Pollack if you will. These two factors will be what work to my advantage, and I'm hoping a couple of references I have can help me out. Other thing is that I think there is a realistic chance I can scrape 700 on the GMAT.
Athanatos isn't a debbie downer, there are just only so many ops for non-targets, and LSU does not have a sizable alumni base in IB. Most people coming from LSU who break in have to carry the load themselves.
This post was edited on 9/28/12 at 11:48 am
Posted on 9/28/12 at 11:58 am to wiltznucs
quote:Hijack, I recently moved to the 813. I love the area.
wiltznucs
Posted on 9/28/12 at 12:17 pm to RemouladeSawce
quote:
Hijack, I recently moved to the 813. I love the area.
Whereabouts are you?
I'm in the Southshore area of Hillsborough Co..
Posted on 9/28/12 at 12:18 pm to wiltznucs
Downtown near the Forum.
The talent is pretty solid, I will say that.
The talent is pretty solid, I will say that.
This post was edited on 9/28/12 at 12:19 pm
Posted on 9/28/12 at 12:33 pm to RemouladeSawce
Channelside District... Very nice.
Welcome to the area. I enjoy Tampa, like any city it has its underbelly but all said I've found the people very friendly and inviting. The climate and scenery are tough to beat.
Welcome to the area. I enjoy Tampa, like any city it has its underbelly but all said I've found the people very friendly and inviting. The climate and scenery are tough to beat.
Posted on 9/28/12 at 1:07 pm to RemouladeSawce
quote:
Are you a senior now?
Nay.
quote:
You should be getting ready to go balls to the wall on recruiting if you aren't already. You can focus on MS admittance late in the game, right now I wouldn't be nearly as concerned about that than trying to get a gig or at least networking for down the road.
Starting that now.
quote:
Athanatos isn't a debbie downer, there are just only so many ops for non-targets, and LSU does not have a sizable alumni base in IB. Most people coming from LSU who break in have to carry the load themselves.
Yeah I got you. This is what I gather so far.
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