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Higher education

Talk to other parents whose children are preparing for university on our Higher Education forum.

A master's degree

63 replies

paddingto · 31/03/2024 16:42

I've been wondering when it's better to do it immediately after university and when it's better to do it after working.

Has anyone or their DC simply done a master's because they couldn't secure a job after UG. Did the master's help?

OP posts:
SmallestInTheClass · 12/04/2024 20:42

thing47 · 12/04/2024 17:55

Well that depends. DD2's Masters was a very good one which entailed not just original research but time in a lab using equipment that no university would let an undergraduate loose on. Her personal tutor was a recognised expert in the same field in which DD would like to specialise in with dozens or papers to her name. She also had guest lectures from people so well known in their field that every single person on these boards would recognise their names.

Not a snowball's chance in hell that a year in a junior role straight out of university would have given her 'loads more to talk about'.

Completely agree, this is the kind of vocational masters I would see as being really valuable. If you want hands on lab experience it's a good option.

Mayflower282 · 12/04/2024 20:49

My advice - do a masters before having kids. It’s double as hard when you’ve got a family.

Phphion · 12/04/2024 21:17

There are quite a few Master's in Development Economics / ID & E that might work as a compromise if your DS is set on doing a Master's.

A problem with Master's in Economics and Business & Finance is that the ones that might, simply by virtue of possession, provide a bit of a wow on a CV for employers who care about that kind of thing are now extortionately expensive, as universities know that part of their value is in getting their name and associated reputation on your CV. To get a UK wow name in Economics or Finance on your CV, unless you get a scholarship you would be looking at course fees of at least £25K-£35K plus all living expenses. That's an awful lot of money to get your DS a Master's he doesn't want to do that might help him get a job in a specific area he doesn't want to work in. It's also not likely to be a very fun experience for him, since most people paying that kind of money really want to be there and really want to do very well.

Outside of the wow names (or just loving the subject and wanting to study it more), I would consider whether the Master's will allow him to develop specific higher level skills and knowledge or experiences that he has not developed on his undergraduate degree and that he has identified as being particularly valuable in seeking the kind of employment he wants to seek. This might be something like higher level quants or research / analytical skills or the ability to specialise to some extent in a particular area of economics or business / finance. Generally, it is the possession of those skills or knowledge that will make the most difference in finding employment, moreso than possession of a Master's degree in and of itself.

If you don't have a reason for doing a Master's beyond that you might as well and can't provide a coherent explanation of what you will get out of it beyond wanting to put an MSc on your CV, you are unlikely to make wise decisions about what to study or, consequently, be able to impress a potential employer with it enough for them to offer you a job when they wouldn't before you did it (professions that just require you to have a Master's aside). It's not even really the case that employers would see having a Master's as singling someone out as particularly clever or dedicated anymore, as it's become increasingly common and spinning your wheels doing a generic and unfocused Master's, often in exactly the same subject as your first degree, is a well-known Plan B for anyone who cares pay for it.

In those circumstances, rather than spending a lot of money doing a Master's that might never be of any benefit to you other than giving you another lovely year at university, you would be better off working for a while (it wouldn't have to be years and years) to allow you to determine whether a Master's would benefit you and, if so, what kind of Master's, in what subject and where. It might turn out that having a Master's is indeed beneficial in itself, it might turn out that a more specialised Master's would be more beneficial, or an MBA, or only an MSc from certain places, or some kind of non-Master's training. You can then do one of these things based on the specific knowledge you have of what will actually help your career rather than just vaguely hoping that unspecified employers will in some way value something to some unknown extent which, in your DS's case, he doesn't see the value in himself because he can't see how it would help him to do what he wants to do.

Calllalllama · 12/04/2024 21:37

My son is doing a masters at LSE in economics. He has a job and is doing the course part time. He has loved it and thinks that it has been very valuable in terms of career advancement etc etc. There is also a full time course but is very competative and has a lot of students from oversees paying very high fees.
The average age on his course is around 25 after a few years working in a job in the City and the job has to be fairly local to do the part time course.
Some of the other graduates from his Uni did do postgrads and some of them 'upgraded' their Uni to one further up the lists and I think that would be helpful but only as a way to get on one of the better grad schemes, if your son can get on one anyway then just do that.

Sooooootired01 · 12/04/2024 21:50

I got my undergraduate degree (Bsc Hons - Psychology) when I was 23... returning to do a Masters 20 years later at the age of 43. Honestly can't wait! 😀

paddingto · 13/04/2024 10:12

Calllalllama · 12/04/2024 21:37

My son is doing a masters at LSE in economics. He has a job and is doing the course part time. He has loved it and thinks that it has been very valuable in terms of career advancement etc etc. There is also a full time course but is very competative and has a lot of students from oversees paying very high fees.
The average age on his course is around 25 after a few years working in a job in the City and the job has to be fairly local to do the part time course.
Some of the other graduates from his Uni did do postgrads and some of them 'upgraded' their Uni to one further up the lists and I think that would be helpful but only as a way to get on one of the better grad schemes, if your son can get on one anyway then just do that.

What MSc is he doing? I'm on the LSE website and can't seem to find a part time economics masters

https://www.lse.ac.uk/study-at-lse/Graduate/degree-programmes-2024/MSc-Economics

Is he doing a joint master's? Economics & finance perhaps?

MSc Economics

Gain the tools of the professional economist, whether you intend to work in government, central banking, international organisations or private sector firms.

https://www.lse.ac.uk/study-at-lse/Graduate/degree-programmes-2024/MSc-Economics

OP posts:
MarchingFrogs · 13/04/2024 16:12

paddingto · 12/04/2024 14:03

Yes I am thinking about financial careers.

But is your DS?

ArchaeoSpy · 13/04/2024 16:16

personally if i had the ££ then id do it at university so i could devote my full time to studying for it.

paddingto · 13/04/2024 17:49

MarchingFrogs · 13/04/2024 16:12

But is your DS?

No. He's put off by the hours.
But the career is very lucrative.

Am not forcing obviously, but trying to gently encourage.

OP posts:
Dearover · 13/04/2024 18:51

Please don't. There are many ways to be happy in life. Being forced into a "lucrative" career because your mum want you to isn't one of them.

Justkeepingplatesspinning · 20/04/2024 22:42

It's definitely worth doing one if it means you can specialise in something that you enjoy about your subject.
I'd suggest getting a job as you'll maybe find that your employer will fund either the course fee or give study time (or both). I found mine helped me on the career ladder.

paddingto · 29/04/2024 07:12

Had a chat with DS. Realised I was in the wrong the whole time.

He wants to take a year out and apply to master's degrees with his final year grades. I will support him with this. But as he doesn't have a job lined up, what can he do in the mean time?

OP posts:
TizerorFizz · 29/04/2024 07:21

Apply for jobs! He can surely get something. Go to an agency. Look on line. Look at local companies. Work in a shortage area, eg hospitality? Lots of options.

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