is a master degree worthwhile?

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  1. #1

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    is a master degree worthwhile?

    for a fresh grad who doesn't have any working experience at all, who eventually want to become an analyst, would a master degree in finance/ economics help find a decent job in finance?


  2. #2

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    It might in some cases and depends on the hiring institution and who is making the hiring decision.

    Getting work experience certainly helps. The other prerequisites are being highly comfortable with numbers, english (and other) language skills and presentation skills.

    My personal feeling is that a Masters degree is not a magic bullet, but an MBA/MSc from a world renowned university helps. At the same time a masters degree in statistics/mathematics/engineering would also be of benefit for certain roles.


  3. #3

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    What do the job postings say?


  4. #4

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    IMHO, it's worthless or even a disadvantage if you don't get good grades/write a good thesis quickly. The thesis could drag on for years if you're floundering on your topic.

    So, if you're good at things, you'll succeed either way. If you're average, getting work experience first keeps you ahead of the game financially long term.

    If your Master's took a year and adds nothing to your earning ability, you're down one year's salary + experience + promotion for the rest of your life.

    Man, those bankers with multi-million dollar paychecks didn't even need to know how financial derivatives work. Get networking rather than stuck in academia if you want money.


  5. #5

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    i think it helps, but dont expect to get higher ranking jobs because of a masters.

    if you cannot find a job now, having a masters probably will not help because the reason is not lack of qualifications, but lack of experience showcasing your skills. I assume you hve been applying to grad jobs or entry level jobs.

    if u can find a job, do it first, and maybe do a masters part time later. work experience is much more valuble especially in the early stages of your career.


  6. #6

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    Quote Originally Posted by fth:
    It might in some cases and depends on the hiring institution and who is making the hiring decision.

    Getting work experience certainly helps. The other prerequisites are being highly comfortable with numbers, english (and other) language skills and presentation skills.

    My personal feeling is that a Masters degree is not a magic bullet, but an MBA/MSc from a world renowned university helps. At the same time a masters degree in statistics/mathematics/engineering would also be of benefit for certain roles.
    I like this advice a lot!

    As Covey says, begin with the end result in mind. That means whatever masters you take you do so with a goal in mind and I don't mean just the degree itself or as noted in these posts you might down a lot of work experience with nothing to show for it.

    If you have done a 4 year bachelors and not been goal directed doing it, then it can be a cop out of sorts to do the next degree hoping for a different result.

    If the target work opportunities value this next degree of yours, then this is super. If you are not clear as to your goals you run risks that I'd not be prepared to take.

    Whatever you do, do a program where the grads get employment and in the industries you want to work in. I hate those who do a degree just because they had nothing else to do at the time. Make sure your thesis or projects all focus on something of value to your target interests or jobs.

  7. #7

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    Quote Originally Posted by UK/HKboy:
    work experience is much more valuble especially in the early stages of your career.
    I agree with that 100%, although being in a position currently of looking for finance work in HK, I am finding increasing evidence that a lot of local HK managers don't appear to take that view. In fact, more than one recruitment agency has said to me that managers will often look for academic qualifications over soft skills, which in my eyes is totally crazy.

    Don't get me wrong, I am certainly not discrediting anyone with a strong academic background, far from it, but I feel that once you are well established in a career path with proven skills, this surely should be the primary consideration.

    This is one of the biggest challenges I have faced; I am not degree qualified (through my own choosing I decided not to study ay university in the UK), but I do have a strong employment history with proven results in in my previous industry positions. I have been put forward for jobs that I'm very confident I would have at least reached the interview stage for in England (I have never had any issues getting interviews in London), but my application has been rejected because of a lack of degree.

    I can't really comment on a Masters, but if anyone is thinking of job hunting in HK without a degree as a minimum, keep in mind that you're going to find life quite difficult (in banking at least)!

  8. #8

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    Liar's Poker

    I just started reading Liar's Poker. It seems like an interesting read with some insight into what being a Wall Street "analyst" entails.


  9. #9

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    Quote Originally Posted by existenz:
    I just started reading Liar's Poker. It seems like an interesting read with some insight into what being a Wall Street "analyst" entails.
    Try "Monkey Business" or FIASCO. Much better reads.

    [ame="http://www.amazon.com/Monkey-Business-Swinging-Through-Street/dp/0446525561"]Amazon.com: Monkey Business: Swinging Through the Wall Street Jungle (9780446525565): John Rolfe, Peter Troob: Books@@AMEPARAM@@http://ecx.images-amazon.com/images/I/51XTTZ4W5ZL.@@AMEPARAM@@51XTTZ4W5ZL[/ame]
    [ame="http://www.amazon.com/Fiasco-Inside-Story-Street-Trader/dp/0140278796"]Amazon.com: Fiasco: The Inside Story of a Wall Street Trader (9780140278798): Frank Partnoy: Books@@AMEPARAM@@http://ecx.images-amazon.com/images/I/51xeizSaFUL.@@AMEPARAM@@51xeizSaFUL[/ame]

    My favorite part is when in Monkey Business they have to bribe the print room with pizza.

  10. #10

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    Monkey business!!! yep. definitely entertaining. good read