Would you spend $61k for a job at HSBC?
If you’re tossing up between a Masters in Finance degree or an MBA, bear this in mind – Goldman Sachs is more likely to hire you with an MBA, HSBC is most likely to take you on with a MiF.
London Business School has just released its 2015 employment report for its Masters in Finance (MiF) graduates. HSBC was the biggest employer (taking on five people) followed by Citi and Credit Suisse (four each) and Goldman Sachs, which took on three people.
By comparison, Goldman was the biggest banking employer of LBS’s MBA class of 2015, however, taking on nine graduates this year – three more than its nearest peer, Citi, which took on six.
The MiF costs £41.6k ($61k) compared to £70.8k ($103.7k) for the MBA.
Is a Masters in Finance better than an MBA?
LBS’s MiF is unusual in that its students have an average of six years’ work experience - most courses of this type tend to take on undergraduates.
MiF students are landing banking jobs. 28% went into investment banking this year – compared to 8% of London Business School's MBA graduates. 81% of the MiF class landed a role in the financial sector, compared to 27% of LBS MBA grads.
MBAs are gravitating away from the financial sector, and banks are hiring fewer of them anyway. What’s more, the MiF is focused on the finance, so it makes sense that most would choose a career in the sector.
LBS doesn't break out sector-specific pay for its MiF graduates, so we can't say how much they earn in finance. However, four fifths of MiFs go into finance careers. Average pay for an LBS MiF is $168.1k, compared to $179.5k for an LBS MBA who works in investment banking specifically.
A Masters in Finance at the London Business School predictably makes most sense if you want to work in the UK. 41% secured a job here, compared to 29% in Asia. In another sign that Masters in Finance courses struggle to gain traction state-side, where MBAs remain king – just 5% secured a role in the US.