Should I go for MS or take up job at an IB (top-4) in London?

[bojack_horseman]

Hi - for background, I am based in a 3rd world country and the bank I work for is willing to transfer me to their London office. This would mean a huge bump in pay (and savings) for me, even after considering cost of living in London. But I also have an admit from Columbia for MS in Data Science course, the deadline for whose deposit (2500 USD) is 15th April 2020. I primarily want to go for MS so that I could try going into trading firms in quant based role, which should be moderately achievable target if I go to Columbia - given that there are so many firms in NYC. I did some cost analysis, Columbia will cost me 90k in tuition + living expenses , the summer internship will reduce it by 30k, but if I add the potential savings of 1.5 years work in London, this MS would result in total downfall of 170k USD. I am already 3-4 years experienced so I am expecting total comp of about 120k GBP (including bonus). My current profile is quantitative developer, so its not quant related but I can try in London after 1.5-2 years for trading firms. However, I am afraid if they will consider me (even with reduced pay) for quant roles after my total 3+2 years at a bank in non-quant role.
What do you think? What should I do? Feel free to point out if any of assumptions are wrong.

 

[mez]

follow your passion

 

[IntoDarkness]

find some online or oxbridge part time programs while working in london

 

[Ken Abbott]

Better to keep the job and go part-time.

 

[longgamma]

find some online or oxbridge part time programs while working in london

Take the job man and do a part time course. That way you work towards permanent residence and get paid while studying.

 

[bojack_horseman]

Better to keep the job and go part-time.

Thanks a lot Ken, I am also inclined to do this.

 

[Ken Abbott]

Thanks a lot Ken, I am also inclined to do this.

I did two graduate degrees at night. As a result:

• I had a lot more money in my pocket
• I was able to apply the course material immediately
• I had four more years of experience
• (I met the woman who became my wife)

It was one of the smartest things I ever did.

 

[Nth Root of N]

I did two graduate degrees at night. As a result:

• I had a lot more money in my pocket
• I was able to apply the course material immediately
• I had four more years of experience
• (I met the woman who became my wife)

It was one of the smartest things I ever did.

I have also been down this road and I think this is generally good perspective. I really struggled with this decision back when I was facing it for myself but realized the general rule is pretty simple:

- If the end-goal represents a significant change in career or job path it can be best to dedicate your energy full time and pay for it later when you return to work since at that point it will be all just money.

- If it doesn’t represent a significant change or you plan to use it to build outward from your current work and move internally as it sounds like Ken did then maybe better off not.

Depending on the program, doing a grad degree part time may not be as easy as it sounds in terms of either money or time commitment and it can take quite a while as well.