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Guest comment: Making it with a Masters in Finance

17 July 2007

Lukas Gresnig

Is it worth doing a Masters in Finance? Lukas Gresnigt, a student at the London Business School, thinks so.

After a science and an engineering degree in chemistry, I joined the Boston Consulting Group as an associate consultant, followed by a brief internet adventure. My last employer before I started the Masters in Finance degree was Nuon, a Dutch power and gas company. There I had different commercial and business developing roles, the last related to the merger of Nuon and Essent, creating a Dutch national energy champion.

I decided to go back to studying because I wanted to broaden my knowledge base and internationalise my career and network. The London Business School Masters in Finance combined excellent academics with practical experience, both from faculty and the fellow students. I've chosen not to be sponsored and am paying for the course myself, which will give me more freedom to decide what I want to do next – I aspire to stay in London after my degree, and with my experience in the energy sector my ambition is a role in private equity related to energy and infrastructure. I'm currently talking to various potential employers.

Why didn't I choose an MBA? With my experience in strategy consulting I felt that many of the broader MBA subjects had already been covered in my work experience. The Masters in Finance programme has more depth and focus on the finance aspects. It's a course that suits people with good quantitative skills and an ambition in any finance area. By comparison, people with a less clear idea about their post-business school interest or who want to have a broad overview of all business aspects should probably do an MBA.

Why didn't I choose a CFA? The Masters in Finance covers a broader area of finance, assures more interaction with fellow students and provides 'the business school experience'.

The Masters in Finance is not an easy option. It helps to be clear what your long-term career aspirations are when you arrive – a one-year degree forces you to make an early decision regarding the elective modules and your future. Whilst studying, you also need to ensure you're spending sufficient time orientating yourself towards the job market. And you need to take time to learn from the wealth of experience of your fellow students.

If you get it right, the course can prove very rewarding: interaction with fellow students and faculty members is invaluable. I've been able to draw on my past work experience and to learn the ways in which things could be done differently next time – the combination of work experience and studying allows you to convert theory into business.

Comments (36)

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• Well done, Lukas. You have taken the right decision and I dont think you'll ever regret it choosing MSc finance over MBA. You'll feel more satisfied with MSc finance than with MBA, given your quantitative background. There is serious demand for people with a mix of science and engineering plus a finance background. My advice however is, prepare your self for the more difficult task of choosing who to work for as you'll be hunted left right and centre by employers.

  Jamine 17 Jul 2007

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• MSc is an optimal path for people like us. I'm coming from Eastern Europe and want to build my career in M&A area. Consolidation activity (at least in Russia and FSU region) is set to peak this year so I don't have 2 years to spend as an MBA though I admit it is a better match for investment banking career. Have a good time at LBS and good luck.

  Alek 17 Jul 2007

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• MSc in Finance is very rewarding. I took a number of classes with fellow MBA students when our modules overlapped and we consistently out performed them in course work and in the examinations. The technical skills are always harder to pick up on the job, while the soft skill tend to be very job specific. Prior to the course I did an internship at UBS in M&A which I enjoyed enormously. 
  
  
  
  I also have a degree in engineering and felt that before going back into investment banking I wanted to build my accountancy skills/knowledge. To the amazement of my class I now work for a big four accountancy firm advising small and mid cap private high growth companies. The training has been invaluable. I am about to complete my ACA qualification and have seen more "case studies" than you would ever see on an MBA programme. Something that I would recommend if you can stomach more exams.
  
  
  
  The options afterwards are endless and you can pick and choose from M&A, Private Equity or Fund Management. I believe that the MSc is the premier business qualification and taught me the fundamentals of making money. If you can combine it with other skills you are gold dust.

  HR 17 Jul 2007

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• I agree with Jasmine and Alek, you really should do an MBA regarding your background. Your MSc finance will be worthless compared to an ACCA Accounting diploma which is better than a MSc Social Engineering. Good luck at London School!

  Ringo, trader at BNP Paribas 17 Jul 2007

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• I like the comparisons between an MBA and MSc Finance however as an MBA student I would say the topics/areas covered so far have been great. I think an MSc is too restrictive whereas if you set your yourself to come out with a very good degree or a distinction the sky would be your limit in an MBA field. Its tough but its going to be worth it in the end

  Emeka 17 Jul 2007

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• an MBA can never ever beat CFA. CFA these days in considered to be GOLD STANDARD of finance.the curriculum is spot on comprehensive doesnt beat around the bush like many MBA programs do in the name of developing soft skills.many MBAs even if they attempt to might not finish CFA such is breadth of this qaulificaiton it covers accounting, equity analysis, bonds and what not. I think MBA is just like paying for a brand and forgetting about the content it doesnt prepare for real work.

  Gaurav 17 Jul 2007

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• 80% of Finance/ACA people drive Volvo whereas 80% of MBA people drive BMW or Audi. Thank you very much from an MBA who doesn't have a car.

  Mamun Ahmed 17 Jul 2007

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• A focused Masters in Finance is far superior to an MBA. 1 year of focused finance learning with a class of former finance professionals is far more beneficial than a year of generalist business teaching with a class of generalists with different desired carrer paths. Good choice!

  Anon 17 Jul 2007

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• For me the biggest turn off with the MSc (specifically MIF at LBS) is the lack of internship opportunities. The 2 year MBA allows for a Summer Associate position, which I feel is vital for those wanting to move into I-Banking Front Office from another industry or function within I-Banking.
  
  
  
  In my opinion the best way to gain a good quantitative grounding and maximise post-study employment opprtunities is to study CFA and then an MBA.

  Ian 17 Jul 2007

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• MBA is for the faint hearted. Coming from an engineering background, myself, I found my MSc in finance more rewarding. Job was even easier to find. I manage a mix of commodity portfolios and my quantitative focus MSc finance has been very very helpful.

  Avocet 17 Jul 2007

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