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A Masters in Finance straight out of Undergrad?

post #1 of 47
Thread Starter 
It pretty much looks like I'm going to be unemployed upon graduation after 20+ interviews and 8+ final rounds.. I've never felt so downtrodden and useless before. EIGHT rejections.

But beyond that.. does anyone have any insight into getting a master's in finance after undergrad? This is something I just literally thought of so I haven't put much research into it (I am right now, but I also know some people ahve done this on SF so this is part of my research).

What has it done for you in terms of job prospects? Which programs are the more highly regarded ones? I'm thinking top 25 because there's no chance I'll be able to get into a top 10 program.

I go to a top 25 university and have a mediocre GPA (less than 3.5, greater than 3.0). Double major in economics and psychology. I had one internship the past summer in marketing consulting.

Any tips/insight are appreciated!
post #2 of 47
Since you majored in economics .. have you thought about doing an MA in economics? I'm about to finish my econ MA, and while I'm not entirely sold on what it did for job prospects, it was a great learning experience. I'm blaming my lack of interviews on still being in school (for another month), but I do have an interview with the largest energy producer in Canada next week. Since I want to be an economist, I've gone this route. But I am writing CFA level one in December to hopefully boost my career mobility. I've you're thinking of top 25 .. you're looking at some very good economics programs, that offer terminal MA degree's.
post #3 of 47
if you got 20 interviews and 8 final rounds it does not appear to be your qualifications that are holding you back. if you really cant get a job then bailing to school is a good idea. MSF doesnt really add much in terms of knowledge, skills, or prestige. but it gives you a chance to boost that GPA
post #4 of 47
Thread Starter 
Quote:
Originally Posted by scientific View Post
if you got 20 interviews and 8 final rounds it does not appear to be your qualifications that are holding you back.

if you really cant get a job then bailing to school is a good idea.

MSF doesnt really add much in terms of knowledge, skills, or prestige. but it gives you a chance to boost that GPA

I just don't understand.. I mean, in my mind at least, if I'm good enough to get past several rounds and finally to the last round, I think that means I'm qualified for the job.

I always smile a LOT at all my interviews. I make my interviewers laugh. I give firm handshakes. I am tall and good-looking (no joke, no e-brag). And in the end,

"Thank you for your interest.. while we thoroughly enjoyed meeting with you and speaking about your experiences and qualifications, we are unfortunately unable to offer you a position in this competitive job environment. We wish you the best of luck in your job search."



I don't know what I'm doing wrong. I mean, I know it's a terrible economy, but most kids who go through several final rounds end up with an offer by the 3rd or 4th final round.

post #5 of 47
Thread Starter 
Quote:
Originally Posted by imschatz View Post
Since you majored in economics .. have you thought about doing an MA in economics? I'm about to finish my econ MA, and while I'm not entirely sold on what it did for job prospects, it was a great learning experience. I'm blaming my lack of interviews on still being in school (for another month), but I do have an interview with the largest energy producer in Canada next week. Since I want to be an economist, I've gone this route. But I am writing CFA level one in December to hopefully boost my career mobility. I've you're thinking of top 25 .. you're looking at some very good economics programs, that offer terminal MA degree's.
I haven't really. I'm not really all that interested in economic theory. And at the same time, my courses in economics weren't all that quantitatively-rigorous. There is a separate major at my school for quantitative economics that is very math-oriented, and the majority of kids choose to major in the non-quantitative economics major. So I guess I'm kind of stuck because I don't have a lot of the required upper-level math coursework that many finance masters require. Maybe I'll just work part-time and continue job searching. agh this is so discouraging. moving in back home with my parents is a total nightmare. i couldn't feel so worthless. "hey mom and dad. thanks for paying 200K for my education. now i have nothing to show for it and will continue leeching off of you guys!" edit: oh, and good luck on your interview next week!
post #6 of 47
bud, welcome to my world last year. - 3.7 out of a tier one university - poli sci major business minor - my extra cirriculars were solid (3 officer positions) - legit internships both sophomore & junior year (global 100 company) I was rejected 13 times last year. I think i applies to at least 70+ places. My advice: keep looking. you're wasting your time by going to get your masters. you'll be starting off pretty much where you would have been 2 years ago with ~100K more in debt.
post #7 of 47
Thread Starter 
Quote:
Originally Posted by yjeezle View Post
bud, welcome to my world last year. - 3.7 out of a tier one university - poli sci major business minor - my extra cirriculars were solid (3 officer positions) - legit internships both sophomore & junior year (global 100 company) I was rejected 13 times last year. I think i applies to at least 70+ places. My advice: keep looking. you're wasting your time by going to get your masters. you'll be starting off pretty much where you would have been 2 years ago with ~100K more in debt.
this really, really, really, REALLY sucks. I'm depressed. I've also probably applied to close to 50 firms so far.. my gpa is definitely lower than yours and i've only had one internship, although with a major name brand company. are you still job-searching? what types of jobs are you applying for?
post #8 of 47
What kind of stuff are you applying to again? I don't know that getting more school is necessarily the right answer for not finding a job...have you looked at industries you had not previously considered or didn't know existed? Econ consulting or litigation services...I've also heard good things about people working at data providers (capitalIQ/factset/Thomson/etc).

As to your question in the other thread...my post graduate unemployment was not by choice (I hadn't applied as hard as I should have during school...and when the option to stay at the place I was interning fell apart, it was pretty late). I was glad I did it though, and it worked out far better than it otherwise would have (I love my job and would have been not so happy and underpaid at the position I was aiming for as an intern). IIRC, I kept looking but not super hard until graduation (2nd week of June) and then basically cranked out 2 weeks full time at my internship to bring the new girl up to speed and get some extra cash and then I bailed for a month of vacation (family for the 4th and then europe for 3 weeks) where I didn't do any applying. Only then did I really get back into applying in earnest.

There weren't a lot of great opportunities coming up around this time of the year...the people who knew they needed people had already hired them, and there hadn't been time for them to discover that incoming new employees with july/august/september start dates had accepted other offers so they should do some more recruiting.
post #9 of 47
Maybe you're trying to get high paying, competitive jobs? I went to a smaller private school and graduated with a mediocre GPA like you, less then 3.5 but greater then 3.0. I got a job within two weeks of getting out of school. I wasn't even heavily looking for a job or anything.

Usually getting the interview is the tough part for me because I don't stand out. Decent GPA but nothing great, Princeton Review Top 373 school but definitely nothing special, no real extracurricular activities, etc. But once I get the interview I've always gotten the job/internship. Although I did just go to an interview and showed up late, so I don't think I'll be getting that job lol.

Just keep your head up. It's tough out there right now. Maybe get a job that you may be overqualified for and tough it out for a few months to build your resume/work experience.
post #10 of 47
From what I've been told once you get the interview you are qualified to do the job and then it is mainly based off on how the interview goes as far as personaility and depth to answers. Then again the same people who tell me that usually end up saying after interviews-"Well they all seem nice and the one has like a 4.0 and involved so I picked her". Are the final interviews group office visits combined with individual interviews? If so they will look at how you interact with other canidates in addition to how the interview goes. I would just keep trying, interviews are tough, unless you are one of thoose people that are just instantly likeable and make the interviewer want to help you out in 30 mins it is kind of a crap shoot on if you get picked or not.
post #11 of 47
Thread Starter 
I'm honestly not looking for the high-paying jobs. I'm mainly looking at really small consulting firms (which wouldn't even be considered boutiques) and market research firms. Average starting pay for those companies is around $50K. I'm just depressed as shit. Especially after this last rejection, which was with a firm that does the EXACT same thing I did during my internship last summer.
post #12 of 47
Yea shit sucks no doubt. I'm 2 years out and struggling like mad. I just threw up my hands and took a job in retail banking/finance.. at least I'll get a 6/63 and some experience out of it. I consider that better than getting in debt or being unemployed.
post #13 of 47
Too smart for a 3.0, too much fun for a 4.0
post #14 of 47
Have you tried to speak with any of these interviewers about why you got tossed?
post #15 of 47
Quote:
Originally Posted by GreenFrog View Post
this really, really, really, REALLY sucks. I'm depressed. I've also probably applied to close to 50 firms so far..

my gpa is definitely lower than yours and i've only had one internship, although with a major name brand company.

are you still job-searching? what types of jobs are you applying for?

i applied to a ton of consulting firms and unfortunately for me, i was fighting for MAYBE 3 spots (down from like 10 the previous year).

unfortunately, no matter what everyone says, the market is still really tough. a friend of mine found a job last week and she has been looking for a job for almost a year now

i found a job after about 2 months after graduation... keep looking!
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