A fishing masterclass Postgraduate Potential. Tanaka Business School Monica Piercy Manager, Career Development Service

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1 A fishing masterclass Postgraduate Potential Tanaka Business School Monica Piercy Manager, Career Development Service

2 What this session covers Introductions Myths and stereotypes The UK postgraduate market-place Postgraduate choices Student points of view Problems Masters students face How to access these students Any questions

3 Introductions Monica Piercy Careers team Tanaka Business School 5 MSc and 4 MBA programmes International, high potential candidates

4 Introductions continued So what is a masters degree? In the UK, Europe and the USA, the Masters Degree stands between a bachelors level degree and the doctoral degree (the PhD or equivalent) Usually 1 year, sometimes 2 years study It assumes a higher threshold of previous knowledge and competence than first degrees Learning is more complex, combining course work and dissertation Its aim is to strengthen knowledge of a subject.

5 Myths and stereotypes Covering up bad first degree Don t know what they want in their career Want to be paid a lot of money No added value over an undergraduate degree Scared to join the workforce Being paid for by parents International students have a poor command of English

6 Contradictions in Myths and stereotypes Technical - Broad brush Not necessary - Provides professional/vocational qualifications Demanding/difficult - Low contact hours/easy All worsened by the fact that research does not systematically separate out masters students

7 The UK postgraduate market place How many masters students are there? Which are the growth areas? What sort of advice do students get? Aggressive marketing? Make up of Masters student population Impact of Bologna process

8 Postgraduate marketplace Increasing numbers Increase in Masters student numbers 2002/3 2003/4 2004/5 2005/6 Total 2005/6: , of which were from the UK

9 Of these a third study Business and Administration subjects Not MBA students Increase in Masters in Business subjects Total in 2005/6: Likely to increase /3 2003/4 2004/5 2005/6

10 UK domiciled postgraduate choices Percentage of graduating cohort 14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% Business studies Computing science Subjects allied to medicine Academic studies in education Management Psychology Politics History English studies Human resource management Clinical medicine Social work

11 Funding shortfalls One of the main ways in which universities will be able to make up their funding shortfalls is through increasing Masters numbers International and National students pay similar fees Leading to aggressive marketing

12 Aggressive marketing If you want a general management qualification, but don't have the work experience necessary for The Warwick MBA, this Master's course from a world-renowned business school can enhance your employability By studying an MSc Management with us, you'll be gaining an edge in today's competitive job market Students will benefit from its wide range of generalist and specialist management modules and be thoroughly prepared for their first entry to a career in management.. This balance is deliberate, as we expect our graduates to gain employment with some of the world's best known organisations The MPhil is conceived of as a graduate conversion course which will prepare students for a professional career

13 Aggressive marketing continued Many students with a Masters degree will go on to complete a Degree of Doctor of Philosophy (PhD), although other students will embark on a career with an additional qualification than can make them more competitive in the market place We expect graduates from the Masters in Financial Economics to join leading private sector and public sector financial institutions. the MFE equips students with the skills to work in any area of investment banking, even the most technical Top companies pursue our graduates for their excellent technical training, and approximately 60% of our most recent students have moved onto careers in investment banking

14 Advice and Guidance Why take a Masters degree? Students often choose to do a Masters degree for several reasons. It is worth noting that students that do take a Masters can broaden experiences in a subject, develop skills and broaden knowledge, widen future job prospects or enable a career change. You may also choose to do a Masters degree for any the following reasons: To make a good investment in your career. To take personal responsibility for career development. To obtain a global focus. To prepare yourself for "during career" specialist changes which are becoming more and more frequent.

15 More advice and guidance Why take a Masters degree? There are a variety of reasons a student may choose to take a Masters degree: A Masters qualification is required/preferred for entry in their chosen profession To facilitate a change of career or specialisation To improve on a poor first degree performance (for example to qualify for a PhD studentship) To obtain a qualification from a UK university to help enter the international job market One reason not to take a Masters degree is to delay entering the work force, or because you can t decide what to do next. Masters courses are expensive and scholarships are rare.

16 What do the students say? Become more employable Differentiate myself increase my value Add to my career choices/broaden my options Become more specialised Be promoted more quickly once inside an organisation Because I enjoy the subject

17 Are there salary differences? There are few scholarships available to them to study so most are self-funded MSc students do feel that they have invested heavily in their studies As has been shown, they have been told it will make a difference However largely there are no salary differentials between UG and Masters, although some European recruiters pay a Masters premium

18 Barriers to entry Masters start earlier than undergraduate students Little awareness of the milkround process Little awareness of companies to apply to MSc students identify themselves as separate to and difference from undergraduates Exam time-tables and rigour of courses makes it harder to take time off to apply Internships harder to access for some masters Self-screening Language barriers

19 Students make mistakes If you have the opportunity to combine UK A levels with country of origin qualifications it will help you If you have the opportunity to study two degrees at once it will help you I will be able to improve my English at university Application without research Poorly informed choices Different careers advice systems in countries of origin

20 Recruitment gaps Some stuff that you know: 55.4% of AGR members expect a recruitment shortfall this academic year Finding enough applicants with the right skills and qualifications are deemed by far the most important contributory factors

21 Destination data masters students

22 Some pointers The motivation to attend a Masters is largely to do with career The generation Y label therefore applies less to this group There are two groups to target specialists and generalist Some students attend specialist courses and then want to move on, just like at undergraduate level

23 Something to do differently Revisit your online application system Feature case studies of MSc or MA successful applicants Refer to MSc/MA pathways within your business Potentially have a later closing date for Masters students Alternatively if you routinely screen and select before your closing date you should state this clearly Engage with MSc affiliations to promote your organisation Consider internships for final year undergraduates with a confirmed Masters place

24 Closing thoughts The trend to Masters is increasing You will need to respond to this pool or miss out altogether View the international experience positively Expand marketing to reach students in EU countries that traditionally attend UK universities such as Greece

25 Thank you Any questions?

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