LBS, Masters in Finance questions welcome : Masters Programs (MSc, MiM, MiF, Accounting )

Fig

VP

Joined: 01 May 2006

Posts: 1033

Own Kudos [?]: 251 [0]

Given Kudos: 0

Send PM

[#permalink]

07 Jun 2007, 07:50

Thanks Paul

... I have added a direct link to this new thread in the list of GMAT Ambassadors

Paul

CEO

Joined: 15 Dec 2003

Posts: 2709

Own Kudos [?]: 1537 [0]

Given Kudos: 0

Send PM

[#permalink]

07 Jun 2007, 17:16

saurabh357 wrote:

Hey Paul

I am a potential applicant for class of 2010 and am planning to apply in R1 for most US B schools. I am a male Indian, have a good GMAT (760) and good extra curriculars. I have been in Citigroup for about 25 months now after I passed out from Indian Intitute of Technology.

I had a couple of questions from you:
1.) I have some concerns about the US H1B fiasco which has been doing the rounds. How is UK compared to US when it comes to ease of visa issuance. I understand about the HSMP concept but still wanted to get some details.
2.) Considering that I am interested in Finance, would you recommend the Masters in Finance program over an MBA? Of course taking into consideration the visa thing, the two year time thing and the cost factor.
3.) I noticed on the LBS website that the average salary of MFi program was pretty good and for some demographic breakup even higher than US Schools. Will my lack of much work experience in some way affect the salary offers?
4.) I have heard that LBS does not really consider people with low work ex. Is that true?

Hi saurabh. Here are answers to your questions.
1- If you do an MBA, not a MiF, it will automatically grant you a HSMP and you will be able to work in the UK. In that respect, it is easier to obtain here than it is in the US.
2- Unless you have good work experience under the belt, I would recommend you do the MBA instead as without HSMP, it will be quite a challenge to find work here.
3- On campus offers from banks are pretty standard once you get past the many rounds of interviews. Unless you get a lateral offer, then yes, your pay packet can be lower than the average.
4- Given your good GMAT score, blue chip experience and good academic background (IIT), I believe this will certainly counterbalance your weaker experience.
Overall, I would say you have a competitive profile.

saurabh357

Current Student

Joined: 01 Nov 2006

Posts: 138

Own Kudos [?]: 4 [0]

Given Kudos: 0

Location: New Delhi

Q49 V44

Send PM

[#permalink]

08 Jun 2007, 01:26

Thanks Paul...some followup questions

...

1.) When you talk about experience, do you mean the number of years or the actual experience? I have handled a securitisation deal which in India is pretty rare. I am in a team which works with the business and helps them re-engineer and improve their processes and helps them implement process automation. Its technically a part of IT, but I dont really think I fall anywhere into the traditional definition of an Indian IT male.
2.) LBS says that if I send them my resume, they will let me know if I am a fit for the MiF program. Does that mean I will get in if I apply?
3.) You mentioned that the MBA automatically gets you the HSMP. Does that imply in any way that after doing a MiF, it will be hard to get a work visa?

I know I am asking questions which are more like clarifications but I want to be sure what I end up doing. Hope it is ok.

Paul

CEO

Joined: 15 Dec 2003

Posts: 2709

Own Kudos [?]: 1537 [0]

Given Kudos: 0

Send PM

[#permalink]

Updated on: 19 Jun 2007, 10:21

1- By experience, I mean nature of experience first and then number of years. The career progress throughout the years will be favorably looked upon in your application.
2- Not at all, they will be in better position to judge which program would be better for you but in my opinion, it may be hard to tell from a CV only. You need to meet the candidate and look beyond the packaging presentation. Remember that any school will try to have a good yield and unless you have really bad stats, which is not your case, the school will recommend you to apply, whether it is for program X or Y. Hence, you should never take this as an indication of acceptance.
3- Yes, a MiF will make it harder to get a work visa unless you already have direct work experience in the field you want to be. Unfortunately, MBA and MiF candidates are often times career switchers and without the HSMP given by the MBA, non-european MiFs will have a harder time. Not impossible but definitely harder.

Originally posted by Paul on 08 Jun 2007, 15:08.
Last edited by Paul on 19 Jun 2007, 10:21, edited 1 time in total.

seofah

Senior Manager

Joined: 29 Aug 2005

Posts: 487

Own Kudos [?]: 2918 [0]

Given Kudos: 7

Concentration: Finance, Entrepreneurship

Q50 V40

Send PM

[#permalink]

16 Jun 2007, 08:57

saurabh357 wrote:

Thanks Paul...some followup questions

...

1.) When you talk about experience, do you mean the number of years or the actual experience? I have handled a securitisation deal which in India is pretty rare. I am in a team which works with the business and helps them re-engineer and improve their processes and helps them implement process automation. Its technically a part of IT, but I dont really think I fall anywhere into the traditional definition of an Indian IT male.
2.) LBS says that if I send them my resume, they will let me know if I am a fit for the MiF program. Does that mean I will get in if I apply?
3.) You mentioned that the MBA automatically gets you the HSMP. Does that imply in any way that after doing a MiF, it will be hard to get a work visa?

I know I am asking questions which are more like clarifications but I want to be sure what I end up doing. Hope it is ok.

a) Currently, any degree students can apply to and receive up to 12month working VISA. Follow the link below for the details.
https://www.workingintheuk.gov.uk/workin ... cheme.html?

The above scheme is not as good as HSMP, but nevertheless puts you in a good position to launch your career in the UK. E.g. after earning above average UK salaries for a year you can easily switch your status under HSMP.

b) As you mentioned, for MiF there is what they call "eligibility" stage where you send your CV to the adcom. It is designed to prevent people from making completely irrelevant applications (e.g. medical professional wishing to break into investment banking would be ineligible, unless he/she can show that the job had exposure to finance OR he/she wants to do "finance" in the medical sector). Confirmation from LBS as a "fit" candidate does not mean you will get an offer!

c) I would say you are a good fit into MiF program - I want to do MiF as well!

bsd_lover

SVP

Joined: 17 May 2007

Posts: 2437

Own Kudos [?]: 1682 [0]

Given Kudos: 210

Send PM

[#permalink]

19 Jun 2007, 08:31

.

mattyb

Intern

Joined: 28 Mar 2007

Posts: 26

Own Kudos [?]: 1 [0]

Given Kudos: 0

Send PM

[#permalink]

19 Jun 2007, 10:02

saurabh357 wrote:

2.) LBS says that if I send them my resume, they will let me know if I am a fit for the MiF program. Does that mean I will get in if I apply?

Hey, just for the record, I forwarded my resume to whoever I was instructed to on the site for a review and I got a pretty prompt, personalized response. I was told perhaps I should look into the full-time MBA due to only having 3 years of finance work experience, but I still thought it was cool they took the time to do that. So, if you're really interested (as it sounds you are) shoot them your resume and see what they say, why not? Good luck!

Paul

CEO

Joined: 15 Dec 2003

Posts: 2709

Own Kudos [?]: 1537 [0]

Given Kudos: 0

Send PM

[#permalink]

19 Jun 2007, 12:44

Hi bsd, your profile is competitive. Given your work experience, I would say the MiF would be a good fit for you. You might however check into the work permit issue see if you automatically qualify for HSMP at the following site: https://www.skillclear.co.uk/hsmp-highly ... ulator.asp
If you don't, perhaps the MBA route would be an easier option as you do get automatic HSMP and can perhaps test the water with a summer internship. Of course, the 1 year MiF program might save you more money should you decide to do it.
Keep in mind that both MBA and MiF will open the same doors to you, particularly in banking.

bsd_lover

SVP

Joined: 17 May 2007

Posts: 2437

Own Kudos [?]: 1682 [1]

Given Kudos: 210

Send PM

[#permalink]

19 Jun 2007, 18:24

1

Kudos

Hi Paul,

Are you certain about this in terms of Banking jobs ? I always thought of the MBA finance as a "watered" down version of the more "in depth" MiF course. The impression I was under was that MBA would get you into more executive roles and perhaps more the Corporate Finance / Tradtional IB roles. However to work as a trader, I would need a more "Finance Oriented" degree. Is this not correct ?

I suppose my credentials are perhaps a better fit for an MBA than an MiF, but I really want to learn about Finance in depth. If this is possible with an MBA, then so be it :-)

Several of my IT friends and peers from Australia are in the UK on the HSMV so I am familiar with its nuances and not too worried about that aspect of it.

Paul

CEO

Joined: 15 Dec 2003

Posts: 2709

Own Kudos [?]: 1537 [0]

Given Kudos: 0

Send PM

[#permalink]

20 Jun 2007, 12:31

The MBA can be as finance oriented as you want it to be depending on what electives you take. For the MiF, you can take only finance electives, no other choice.
The main difference lies in the work permit status, the job type you want to do and your opportunity cost. If it is anything in banking, either one degree is fine as major I-banks come to recruit for all type of positions both for the MiF and MBA. However, if you wanted to do more marketing/consulting/industry jobs, I would then recommend the MBA.

bsd_lover

SVP

Joined: 17 May 2007

Posts: 2437

Own Kudos [?]: 1682 [0]

Given Kudos: 210

Send PM

[#permalink]

20 Jun 2007, 16:21

Thanks Paul,

Certainly plenty of food for thought here.

Paul wrote:

The MBA can be as finance oriented as you want it to be depending on what electives you take. For the MiF, you can take only finance electives, no other choice.
The main difference lies in the work permit status, the job type you want to do and your opportunity cost. If it is anything in banking, either one degree is fine as major I-banks come to recruit for all type of positions both for the MiF and MBA. However, if you wanted to do more marketing/consulting/industry jobs, I would then recommend the MBA.

seofah

Senior Manager

Joined: 29 Aug 2005

Posts: 487

Own Kudos [?]: 2918 [0]

Given Kudos: 7

Concentration: Finance, Entrepreneurship

Q50 V40

Send PM

[#permalink]

25 Jun 2007, 14:50

hi Paul, hi LBS aspirers!
I just wanted to update my status with my LBS application.
After I got 640 on the GMAT, I was recommended to re-take GMAT (see my GMAT experience thread at: https://www.gmatclub.com/phpbb/viewtopic.php?t=45309 )
Because I had all my application material ready, I decided to apply anyway, at least to see what works and what doesn't.

As expected I got rejected from LBS for Master in FInance.
I applied in the last round. Interested parties may refer to my communication with Paul (thanks Paul for your efforts answering my questions!)in the following thread: https://www.gmatclub.com/phpbb/viewtopic.php?t=42692

The most usefull thing I got form applying with my low GMAT score was feedback I had been given. Basically, adcom "strongly encouraged to apply for the next year due to the added benefit extra year of work experience can bring ". Also, adcom said "they rarely invited people with less than V35 on the verbal section of the gmat (I had V29)" and recommended to re-take it.

Rastignac01

Intern

Joined: 07 Nov 2010

Posts: 15

Own Kudos [?]: 1 [0]

Given Kudos: 0

Schools:INSEAD, LBS, CBS, NYU

Q49 V36

Send PM

Re: LBS, Masters in Finance questions welcome [#permalink]

09 Feb 2011, 06:01

Hi,

I am currently applying to Mif LBS, but I only hav 660 (Q 49, V 31) at the GMAT, do you think it is a big problem ?
I have 3 y of exp, 1.5 in a VC Fund, anf 2 as a marketer strcturer in a utility, doing power and gas supply for big industrial accounts.

I had a positive feedback submiting my resume to the school administration. I come from a top french enginner school, and I have a MsC From HEC.

I intend to take part in round 3, and to mention in my application from that I will pass again the gmat after the 3rd round deadline.

Do you consider it a good strategy ? do you think my chances are low with such a gmat score ? (thouhg I have a hig quantitative score)

My wish is to work in sales and trading in commodities related business.

Thank you in advance for you help.

best regards

gmatclubot

Re: LBS, Masters in Finance questions welcome [#permalink]

09 Feb 2011, 06:01