Imperial MathFin Imperial Msc Finance

[damperwer]

Hi everyone,



Now my concerns...
I contacted some current and past students in the MSc Finance and MSc Risk Management and Financial Eng courses. I was quite disappointed after reading their feedbacks. According to them, finding a job is extremely hard (especially a front office job) and the placement rate after graduation is less than 10% apprx (8-10 people out of 120 or so..). Moreover, most students are younger (23-25 yrs, I am 27). They told me that although the professors are very well qualified, but you can hardly understand them when they speak english.

Why I applied to this course?
1. Imperial College has a great reputation in the IB forum and I want to switch to IB.
2. It is rich in quantitative learning.
3. Location - London
4. Cost (Cheaper than MBAs)

I will like working as a quant but also open to other front desk jobs. To be very candid, earning potential is a major criteria as well. I want a well paying job.

My questions..

1. Is the MSc Finance course at Imperial the right choice? Before applying I was also thinking of applying to the Finance & Mathematics course at Imperial. However, I didn't because I thought of the future opportunities. In my home country, MSc Finance has a better recognition than MSc Mathematics & Finance(people don't really know about it..). So, in case I had to return to my home country, I want to be safe. Also, since I have no finance knowledge, I assume MSc Finance will give me more exposure to Corporate Finance as well than the Mathematics & Finance.

2. How selective is the MSc Finance program at Imperial? (acceptance rate?) Which program is more selective - MSc Finance or MSc Finance & Mathematics?

3. I had also applied to MBA at HULT International Business School and got accepted. I haven't accepted the offer yet. I think it is quite expensive for the brand value..What do you think?

4. Money is a big factor..I just cannot afford a MBA from a school of equal or better recognition than Imperial College. I don't want to take 'huge' loans either...So, the choice remains - MBA from a low tier (less expensive) school..or MSc from a top rated school with the same tuition fee..

5. What do you guys think? Is it the right decision? Personally, I am very excited to see the course content..I will be studying finance to make a career switch..However, for me it is a bigger risk being an international student since the UK postgraduate visas are attritive..and I don't have a past finance experience.

6. Do you think the economy is going to pick up and more jobs will be available?

7. Do you recommend me reading or learning something (like advanced programming) before I start the course to get a head start?

Please provide your comments..Correct me if I have written something wrong

Thanks.

 

[DominiConnor]

I don't know the placement rate at Imperial, but don't believe for a second that it's only 10%.
Maybe only 10% got front office ?

 

[Katrina]

Just curious, not sure if your aware of this but UK did a major overhaul of their immigration system. I am not sure if they made changes to their student visa programs as well. I know they have suspended all of their Tier 1 visa programs offshore and they will close their onshore Tier 1 visa sometime April.
I am not sure going to major universities/college make any difference in obtaining work visa after graduation !

 

[damperwer]

Just curious, not sure if your aware of this but UK did a major overhaul of their immigration system. I am not sure if they made changes to their student visa programs as well. I know they have suspended all of their Tier 1 visa programs offshore and they will close their onshore Tier 1 visa sometime April.
I am not sure going to major universities/college make any difference in obtaining work visa after graduation !

Katrina, thanks for your reply. Well, lets hope so. Apparently, that was the major concern of the current students I talked to...

 

[damperwer]

I don't know the placement rate at Imperial, but don't believe for a second that it's only 10%.
Maybe only 10% got front office ?

Perhaps, I am not sure..But then the salaries of mid level and back end jobs are not even close right? I mean what about the bonuses? I am not quite sure how it works..I understand that with no past finance experience I cannot expect huge payslips, but I am not sure of the figures..Current students told me it was around 40k for front desk jobs..and lower for rest! Do all jobs have added bonuses and not only the front office? I am just trying to get a clear picture since I really don't know..40k pounds sounds low to me since I was being paid almost the same as an engineer with only bachelor's degree in the US!

 

[Andy D.]

But then the salaries of mid level and back end jobs are not even close right

I guess it depends what you are doing. A lot of software contractors I know in the UK make very very good money in the City and Canary Wharf. Some do 6 months in the City and then take a few months off to travel and do lower key jobs.

One chap I was talking too was charging 900 pounds a day for working on a banks payroll system. If you do the math that's one hell of a good earner. Admittedly that's a contracting position, but with the right skills I'm sure there is still plenty of work in London.

 

[damperwer]

Any comments on my questions? I will appreciate help.

 

[DominiConnor]

A good contractor in London can indeed get >= £ 900, if he has the right skills, and that set is not quite constant.

C++ and KDB are doing well, as is Murex.

It is unlikely that a new MFE grad would get anywhere near that, unless he was a skilled developer before, with little chance that he would even get an interview for most jobs, since almost none can program to an acceptable standard.

 

[damperwer]

Guys, any inputs?