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Why isn't the Masters in Finance qualification taking off on Wall Street?

 


eFinancialCareers | April 5, 2016


The efinancialcareers article, "Why isn’t the Masters in Finance qualification taking off on Wall Street?" quoted Russell Reynolds Associates' Kristin Schroeder about the lack of demand for Master of Finance degrees on Wall Street. The article is excerpted below. 

The Masters in Finance degree may be replacing the MBA in Europe, but it’s less well-established in the U.S., and Wall Street firms have been reluctant to recruit graduates with these degrees – that still come in at tens of thousands of dollars.

Growing demand, at the junior end

There are signs that this is changing, albeit slowly. Of U.S.-based professionals in possession of an MSc in Finance on our resume database, just 4.8% working in M&A, while 7% work in a markets-related role. The biggest proportion (21.3%), however, work in accounting jobs and more people with the qualification work in corporate banking than investment banking.

MBAs are more prominent in the senior ranks of investment banking, but an MSc in Finance is gaining traction among the younger generation. 45.6% of the people on our database with the qualification in North America have three or fewer years of experience.

At the more experienced level, an MBA is preferable to any M.A. or M.S. degree, at least in the U.S.

“I mainly do recruiting for private equity and investment banking, and I rarely come across candidates who have the Master of Finance degree,” says Kristin Schroeder, an executive search and assessment professional in the financial services practice at Russell Reynolds Associates.

To read the full article, click here.

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Why isn't the Masters in Finance qualification taking off on Wall Street?