I have been working for about 6 years in the banking industry. Should I further my studies by taking a masters in applied science to future proof my career? - Seedly

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Asked by Anonymous

Asked 2w ago

I have been working for about 6 years in the banking industry. Should I further my studies by taking a masters in applied science to future proof my career?

Looking forward to hear some advice from the community. Thank you!

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Answers (6)

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Just wondering are you more interested in applied science or future proofing your career? There's difference between the 2 when you make your decision.

If you were to further your studies, would you prefer to do it full time or part time? Some of my friends do part time with consideration that they want the income as they study. Others felt that they want to switch industry and have stopped work altogether to engage in their studies. But the reason for further studies isn't exactly future proofing, but rather for the love of their work and/or to get better paying jobs.

Future proofing your career isn't only about furthering your studies. Having an additional paper qualification doesn't mean that you'll be any less vulnerable to retrenchment. Because retrenchment doesn't select people, it selects industries.

To future proof your career, you need to have 2 rights and a must: 1) right mindset to adjust and adapt to salary vs work expectations in down times 2) right attitude towards work, performing your best and always learning new things (not referring to further studies here) 3) must have confidence in yourself that you are relevant in the workforce. Employers look at your confidence to do work when they hire you, not your school results or past work experience. Do not be afraid or discouraged when the door closes.

In order to future proof your career, you must enjoy your work.

I hope this advice inspires you and gives you some direction!

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Yeap Ming Feng
Yeap Ming Feng

1w ago

This is so helpful! Addresses some of my problems as well.
Fergus Tan
Fergus Tan
Level 3. Wonderkid
Answered 2w ago

Do you mean masters in applied finance?

It depends on your objectives.. Do you plan to continue in banking? What areas of banking interests you the most? If it's back office or compliance related, then perhaps not.. If it's middle office like risk management and treasury, then it's worth considering. If it's front office, then having accreditation definitely helps. I would also think age plays a part.. If I was in my 20s to maybe early 30s, I would consider MAF. If I'm in mid/late 30s, I think MBA might be better, because as you get older, you tend to move into managerial roles where resource management, strategic planning is a bigger required skillset

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Thomas Koo
Thomas Koo
Level 3. Wonderkid
Answered 2w ago

Hi QP,

Master of Applied Science is an academic degree. Unless you intend to be an academic or data analytics researcher, else it does not value add to your banking career.

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S
Shieleen
Level 3. Wonderkid
Answered 2w ago

Suggest you to go ahead if:

1) Can juggle / manage between work and studies

2) Intention (likeliness) to switch career

3) Able to finance yourself through the course if it’s self-sponsored

Curious what motivates you to take up this masters course? Are you really interested and keen in this course or taking this up due to FOMO?

And why not other courses or one that future-proof your banking career e.g. data analytics, fintech etc?

Anyway it’s always good to learn new skills!

All the best.

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Dousa Moobee
Dousa Moobee
Level 2. Rookie
Answered 1w ago

I took masters in financial engineering and it was a very poor decision. Unable to find a similar paying job, not to mention the sunk costs and fees.

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Darius MC
Darius MC
Level 1. Freshie
Updated 1d ago

Speaking as a tech guy, future proofing - hell yes; masters in applied science - not so sure. first principle thinking - if u want to stay in banking and future proof yourself against the future of the industry (what would eat it?), where would u go? Grab. Go join Grab. (or Ant, or something like that) (or if you work for blackrock, GIC Real Estate, etc - come join us at 99.co)

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Darius MC
Darius MC

1d ago

For all other job openings - https://go.99.co/careers