eFinancialCareers

Armed with a Masters in Finance degree and industry experience, Western graduates from the class of 2008 are looking to the Middle East as an increasingly attractive option. Should you be worried?

The cost of a Masters in Finance (MiF) at London Business School comes in at a hefty £29.7k ($59.4k). After such an investment, and with a dearth of job opportunities in the West, it’s understandable that graduates should be looking further afield.

“Private equity, asset management and investment banks from the Middle East are targeting students,” says Lara Berkowitz, associate director of the LBS careers service. “The students are showing a growing interest in the region.”

Of the class of 2007 at LBS, 50% went into investment banking, 8% into asset management, 8% into private equity and 7% into commercial or corporate banking. The remainder entered other financial or management sectors.

The MiF is generally undertaken by those who already have a few years' industry experience, so what does it actually add to your CV?

Milan Sharma, a MiF student at LBS, says: “It equips you with the analytical skills to work on some of the most tricky areas in finance, such as derivative pricing and valuation of companies. It has opened doors for all the areas of finance like derivatives, hedge funds and private equity that would never have been possible without this degree.”

But with more looking to the GCC, will employers welcome them with open arms? Headhunters in the region think not.

Peter Jones, director at recruiters MRK, says: “Now, more than ever, bankers from across the world are moving to the Middle East. While qualifications are important, regional experience is the most important thing. You need to understand the culture and the way business is done out here.”

James Mackenzie, managing director of Mackenzie Executive Search, agrees: “I don’t come across a great demand for that particular qualification. If you have a solid academic background and regional experience, this is more likely to land you a position.”

The average salary for a MiF student graduating in 2007 was $127.3k, with a $36.1k sign-on bonus and a $33.9k end-of-year bonus, according to LBS.