Need Solid Advice! (Country selection)

Question

Nationality: Indian
Bachelors in Econ from no-name school. CGPA-9.05/10. CFA L1 candidate (Aug'23 attempt). 4 month Equity Research Internship at a Boutique. 2 research papers published in econ domain. 
GRE -320 (Q,V same scores)

Aim- To get into Asset/wealth mgmt space. Or Equity research

I'm looking to apply for Masters in Finance. Originally the plan was only US/UK. But a lot of people told me for traditional finance US is absolutely not worth it. (only worth considering for MFE). 
UK - Again getting negative feedback about lack of jobs and mostly will have to return to India.

I'm taking everything with a pinch of salt, I know everything is not black and white. But I'm going to need an education loan so I really need candid advice from various perspectives.
I'm perplexed - Which country should I even consider?

I'm open to learning python and take courses on calculus for MFE but I'm unsure about my prospects at good schools in the US given the low GRE Quant score. (Honestly I don't know if I can imagine myself as a quant)

I'm also willing to consider an MiM to be open to consulting opportunities.

TL;DR Which country has the best employment and career prospects post a Masters in Finance. Should I consider an MiM instead?

Posted from my mobile device

dee1pug1 · Answer

From your post, I couldn't conclude your current work status / total work experience. However, here are my two pence worth thoughts (ain't much post BREXIT):
- If you study in Country X, you won't find a job in Country Y because countries offer a work visa based on education in their schools, not cross-border.
- Economic conditions / job status today should have no bearing to your decision to invest in yourself; education is a long haul investment not to be assessed through a very short-term lens.
- MiF / MiM / MFE or even MBA - these are milestones on your journey, not a destination. It may help if you first conclude 'what do you really want to do in career / life' and then figure out which of these programs would get you there.
- Country selection should also factor the typical business language in use and whether you are up for learning it. While the education program may be taught in English, working life could be a different ballgame, especially in Europe.
- Your 'why do you want to do whatever you want to do?" will be key. No program is a magic wand; nor does it help you chase labels.
- Lastly, your risk appetite will also hold importance. Taking a loan of INR 10M or in US$ / GBP and then paying it back from post-tax INR income!! Think again. If your motivation is strong, then you better be at a higher score that historical averages of the programs you decide to apply to.
Hope something here is of help.
Best wishes.

Kpr2020 · Answer

Hi!

Thanks for the detailed response. My related work experience is only 4 months in Equity Research as written in the post.

I appreciate your advice.

On the point that I should first try and conclude what I want to do. I really like researching companies, modelling, equity research in general. I also regard Asset/wealth management as a very noble career and would love to pursue it. So for now, I have a direction where I would want to go. 
Which circles back to how should I evaluate the best country for me that would provide me an opportunity to work in the same. I understand considering Europe would imply taking language barriers into consideration. So my primary options were UK and US. But for the reasons mentioned in the post I'm really unsure.

Regardless, thanks for the response and I'll definitely ponder over what you've said! Maybe go through the research phase once again and evermore carefully this time.
Thanks.

Posted from my mobile device

TheMBAEdge · Answer

Hey Kpr2020 , Based on the information that you have provided, the MFE program in some of the good US schools will probably be the direction to explore for the following reasons: - Most of the ER, Wealth Management roles are increasingly relying on passive style of investing which in turn will be heavily dependent on underlying quant. Less than 10% of active fund managers are beating the index and hence more capital is getting allocated to passive funds. - The MFE course will equip you to handle portfolios and be able to undertake stress / risk assessment which is the need of the hour in the global financial world - Not a big fan of the UK 1 year Masters in Finance courses since most of the large banks recruit of out their undergrad programs and rotate them across divisions such as IB, PB, AM etc prior to staffing them to a vertical. Hence, not an ample availability of lateral opportunities in these industries. Additionally, post Brexit a lot of the large banks have increased their strength in Frankfurt, Paris offices resulting in lower opportunities in UK. Language plays a major role in EU - MIM is for business and hence will feed into to all industries, thus there will be a lack of focus on the AM/PB space since a lot of the opportunities will be in industries like consulting. If you are open to other industries, MIM can be a good option - Since MFE will qualify for STEM, there are chances of landing a good gig in the US for atleast 3 years. The idea is to be based out of a large financial hub such as NY so that you can actively network and explore opportunities. Thus, the probability of landing a job and staying in the country will be much more for the US when compared to the UK. - If you can work on improving your GRE score that should position you quite well for the good MFE / MSCF programs, otherwise is would be wise to hedge your bets by applying to a portfolio of schools. Hope that helps? If you wish to schedule a quick chat, please reach out at https://thembaedge.com/contact/ or drop a mail at info@thembaedge.com All the best! Thank you, TheMBAEdge info@thembaedge.com

GyanOne · Answer

Hi  Kpr2020

Thanks for posting. Here are our thoughts: 
- You mention equity research/asset management/consulting as possible post-Master's opportunities. This is a bit confusing as the kind of programs you want to target would vary for these goals. You also do have the option of waiting 2-3 years and applying for an MBA. 
- While the MFE programs are indeed good, getting into the top ones with a 320 will be hard. As you said, you are unsure if you see yourself as a Quant, and pursuing this path will require a higher score and a strong commitment to that career option. 
- There are some good MFin programs (not MFE) in the US, including those offered by MIT Sloan, USC Marshall, UIUC, and McCombs (though this one is a bit basic). Beyond that, you have some excellent options in Europe, at LBS and HEC. Economics options exist at LSE as well. 
- We would suggest that you decide on the career path first, and then look at the best schools to get you there. If targeting them requires raising your scores, then so be it.

Hope this helps. Feel free to come back with more questions or to contact us directly if needed.

Need Solid Advice! (Country selection)

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