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Rushing back to education

8 April 2008

Sarah Butcher

Want to spruce up your CV with an MBA or MSc? So does everyone else.

The Financial Times recently ran an article claiming the number of people registering to take the GMAT entry test for business schools was up 12% globally in January and February this year on the same period of 2006.

In London, however, enthusiasm for a return to education appears to be even greater.

Cass Business School says applications for its full-time finance MSc courses are currently up a massive 57% on last year. Meanwhile, London Business School says applicants for its full-time Masters in Finance programme are up 16% and the calibre of candidates is higher.

Susan Roth, director of the specialist masters programme at Cass Business School, has an inkling of the cause of the stampede: “The current financial climate is almost certainly contributing to the increase, as during a time of economic downturn people tend to go back to business school to make themselves more competitive.”

Logan Naidu, a consultant at recruitment firm Cornell Partnership, says now’s a good time to be a student: “If you’re thinking of doing a two-year MBA, now’s the time to do it. You’ll come out when things are improving for the better.”

If you opt to do a one-year MSc, you may, however, come out when things are considerably worse.

Comments (21)

I did an MBA back in 1983. Back then it was a passport to a job (any job) due to a bad recession in the UK. I think the same will apply again. Given the current harsh downtturn, you will need that certificate even if it is only there to get you a double glazing telesales job.

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Comments (21)

  • This is a pattern that's repeating itself! Marketing departments of educational establishments will be frantically working to knock out all sorts of self-praise about their institutions.

    Jackie 08 Apr 2008

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  • Having been in the markets for over 20 yrs, I can't think of anything duller than an MBA. I'd rather do a course in needlework!

    Savvy 08 Apr 2008

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  • Savvy, I can see you have been in the markets long enough to think rubbish of MBAs. I would think twice about it. MBA's give opportunity for a lot of people to enter into finance when they couldnt do it earlier. Think of all the Indians who enter investment banks post-MBA. As a course I would say it completely depends on how much u take out of it. By dismissing MBAs u are cutting off an entire section of very smart people. No wonder so many hedge funds are blowing up- they are filled with people who have worked only in finance and just move from one excel desktop to another. Having worked in other industries or doing an MBA gives u a better perspective of how the world works - how muchever boring it is

    vick 08 Apr 2008

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  • Vick,

    sorry, but I am working for a HF (not a very big one but with reasonable AUM) and trust me, the last people we and other funds are looking for are MBAs. Its funny to see that all those MBAs with their Algorithm Trading have the same background. No wonder it all came off have all these guys studying the same basic principles of programming.

    Mike 08 Apr 2008

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  • vick,

    one can only laugh at your comment!!

    Anonymous 08 Apr 2008

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  • Hi Mike, could I bend your ear for a moment. I'm considering some further education but many of the MBA courses look both dull, expensive and buzz word tastic.  Any particular programing courses/instituitions you (or indeed other HFs) recommend?

    Hey Mike 08 Apr 2008

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  • Anonymous,
    funny that, I'm laughing at yours!!!

    Yolanda 08 Apr 2008

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  • There is a new MSc in Finance at Cambridge University starting this year - it is meant to be better than any other MSc e.g. LBS, Warwick and will only take ppl from top banking jobs but costs £30k! Is it worth it?

    Goldman VP 08 Apr 2008

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  • MBA certainly works - my MBA program helped me get into top prop desks in london and in 2 years i made it to a very large hedge fund and had my first very big year last year - but u know what it is a 50-50 split between MBAs and Non MBAs - althought the very best paid guys (in the order of $10M+++ i have seen have no MBAs)

    the degree doesn't help u perform well - but certainly gets u in the door

    Anon 08 Apr 2008

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  • I agree. I've just been made redundant and have now plunged myself into further exams in order to get myself qualified for a job that I would prefer. I'm sure it's the same for most. By the way CFA pays better than MBA!

    phil 09 Apr 2008

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