According to the Graduate Management Admission Council (GMAC), 61 percent of students decide to do a Master of Finance by the age of 24.
This bring to the question, is there a right age to pursue a master’s degree? It depends on the course you choose and the career you wish to take after completing your master’s degree.
If you want to build a basic foundational knowledge of finance and explore more about the different aspects of the field, you can pursue a master’s degree in finance.
In this article we will discuss the age limit for a master’s degree in finance and investment banking, the entry requirements and if this is the best choice for your career.
1. Right after your bachelor’s?
Pursuing a master’s in finance can be useful if you:
- You didn’t major in finance but want to enter investment banking.
- You have a strong academic record and relevant coursework or internships in finance.
2. After working for a while?
Timing can play an important role if you have plans to pursue a master’s in finance and investment banking.
Here’s why:
- Career starters: Earning a master’s in finance can provide the knowledge and practical skills needed to aim for various roles such as investment banker, financial analyst, portfolio manager, risk manager, and financial consultant.
An early start in your finance career can help you to get enough experience to take up high positions and better pay.
- Working professionals: If you are already in the finance field, a master’s can deepen your expertise, and might qualify you for senior positions.
Even if you take a career break to pursue a master’s degree, the gap may not negatively affect your return to industry; in fact, it could boost your career progression.
When is not the right time to pursue a master’s degree in finance (investment banking)?
3. Not after a long career gap
The age-old saying “the early bird catches the worm” is quite true when considering a master’s degree in investment banking.
Avoid pursuing a master’s degree in finance (especially in investment banking) after a long career gap.
The finance industry especially investment banking is fast-paced, and industry trends evolve rapidly. A long gap might make it challenging to catch up with industry developments.
While there is no age limit for learning, it is always advisable to pursue your master’s degree in finance by the age of 30.
You might have to start from an entry level and must wait years to get into senior positions (especially if you completely change your career path).
Considering a master’s degree in finance depends on these factors:
- Your career goals: Consider how the degree aligns with your long-term goals.
- Financial considerations: Analyse the cost of pursuing the master’s degree, potential return on investment, and available funding options.
- Course requirements: Understand the curriculum, the duration of the course, and admission criteria.
Remember that the decision when to pursue a master’s degree can have a lifelong impact on your career.
Now pursuing a master’s degree in finance has become more accessible, as there are accredited courses online.
Consider enrolling today!
