Studying masters in Banking. Worth it?

myright

Okay guys

I have a degree in Business in which I did quite poorly (scraped a 2:2) back in 2004. Slightly outdated now to say the least lol.

I am currently studying for my Cemap, whilst doing abit of bank cashiering aswel Part time, just to get some exposure in the industry.

I have a YEAR to do something productive like studying. So I am thinking of doing a Masters in Banking via distance learning. I have learnt from my past mistakes, So I do plan to work extremely hard and I am aiming for nothing but the top marks.

What do I hope to achieve from this? Well getting into the line of Management. In which area? I'm not too sure yet.

What do you guys think? Am I wasting my time? is there a better route you guys recommend? and yes in this year I do want to study more than anything else as I wont get another chance to do so.

John1993_2

It's not a qualification that I'd be interested in, as someone who recruits in investment banking. We prefer academic degrees (physics, maths) or economics.

I've no idea if it would help in retail banking, sorry.

Archi_Bald

myright wrote: »

What do I hope to achieve from this? Well getting into the line of Management. In which area? I'm not too sure yet.

To be brutally honest - you should get full answers to where you want to be, career-wise, in - say - five years' time, and then take it from there.

Goldiegirl

In retail banking, in my experience, most of the managers have come up 'through the ranks'

Some years ago there were occasionally fast track schemes for graduates, bit I don't know of any banks do them now.

myright

so is it pointless?

Goldiegirl

It's not pointless if you want to do the studying for your own personal development, but it probably won't give you a big leg up the retail banking promotion ladder.

Gromitt

I'd say that if your doing it to jump straight in at managerial level then your going to find it difficult.

However, If your willing to start at the bottom and work up, then the knowledge will definitely be helpful.

Its up to you if you want to go for the qualification as well. I'd say that was more of a personal thing.

myright

thanks for that.... yes I have a chance to spend a year studying now whilst I'm working. I dont want to waste this last opportunity.

when you guys say start at the bottom. Do you mean like in customer service etc?

I made mistakes in the past with my life/ career/ studies etc. I dont want to anymore. I have also learnt that choices are not always about what you 'enjoy' the most. I have done some horrendous jobs over the years due to bad choices. All i want is something that will help me earn more money when I put effort in. My enthusiasm, drive coupled with my maturity will be the key factors in a succesful career.

All I need is some real advice which I am lacking in my life, as to where I should I go. What I should do in the Year I have that will boost my career opportunities. It doesnt have to be just in banking although I thought it was a good career path to follow. it could be in anything, I am willing to give it a shot and I will make it happen.

Caladan

I'd say a Masters in Banking is a waste of an opportunity. It's only going to appeal to one sector, and more generalised degrees are probably more attractive, like John1993 posted.

I've never met someone with a Masters in Banking and I have some experience in the industry.

Economics, Sociology and Psychology are all good choices for keeping your options open.

I'm not an adviser - This is just my opinion.

Some banks do still have fast track schemes for Graduates, but don't expect to start off in Management. No matter how good your qualifications are, if you don't have experience in the industry you just plain aren't as good as people who do, even though your overall potential may be better.

If I were a hiring Manager I wouldn't want to employ somebody in a Managerial role if they couldn't jump right into the job and get results pretty quick, no matter how good their academic acheivements, something that (generally speaking) only someone with previous Managerial or in job experience can do, if that makes sense.

myright

Sorry for any typos in advance im using my phone to reply. I understand where u are coming from. I dont want to be doing a 'general' degree as I have already have a broad knowledge on things like economics already due to my previous degree and A Levels. With my masters this time I want to specialise in something this time. Even though I am entirely sure what it is. Thats why I thought banking may have been decent option. Clearly not.
I just need advice on career . What to pursue etc? I have had my share of bad choices , difficulties etc. I have 1 year to get it right. I have the determination, the will power. All I need is guidence.

ahxcjb

No, total waste of time. Can't say it more succinctly than that. If you want to do an MA, do it in a traditional subject at as prestigious a university you can find. That might make up for the drinkers degree, if the university lets you in (which they should do if you have the funds)