MSC HEALTH ECONOMICS OR A “BIG 4” FIRM JOB?
Good day Jarus, I have always admired your intelligence and career experience from afar after reading a couple of your posts on Nairaland. It is not until recently that I discovered you have a site as wonderful as this. Good work I must say.
I am Ade, a serving corp member, graduated 2014 with a 2.1 in Economics and statistics from a Federal University I’m 21. I’m presently at a crossroad in making one of the most important and sensitive decisions in my life.
To be sincere I have always nursed the plan of acquiring a CFA(while working though) and build a career path in investment banking, I intend to start ACCA while serving(even though financing has been an issue, so I doubt if I can successfully complete it, although I still have faith, miracle still happens). I have been making plans and strategizing on getting into the “Big 4” which would give me an obvious edge in breaking into IB.
But there is a fresh offer for a scholarship in a federal university in Nigeria in Health Economics (Msc). It sounds good. But I have no idea of the relevance of health economics in Nigeria, how a graduate can break into the industry, and which industry are we talking about here? How much is the average annual salary of a fresh graduate entry level, and will I be promoted soon enough?
In short, do you think it is worth it? Do I have to do any MPH to be adequately qualified after my Msc?. Please the Msc form closes soon. I need to be educated and mentored please. God bless your good work!
Ade
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Dear Ade,
Health economics is an evolving field, especially in developed economies. It is a decent field, but still far from being popular in this part of the world. I guess the school offering scholarship in it are being futuristic and encouraging the popularization of the field.
You don’t lose anything by applying for and getting scholarship – in any field.
However, at 21, you are still very young and this is a time to make hay – time to apply to Big 4 and other good companies. If it happens that you complete the Msc and couldn’t get a job, you may have passed the 24-26 years age mark of many companies, including the Big 4, IBs and other dream companies. Msc can always wait.
If I were in your shoes, I would:
- Apply for the Msc and the scholarship.
- Throw my CV to openings in Big 4 or even any small investment institution.
- Do the two simultaneously.
- Whichever comes first, I will opt for.
- If both come around the same time, I would take job in a Big 4 over Msc. Msc can always wait. In fact, I have a friend that studied Microbiology in school but got job in a Big 4 shortly after graduation. After working in a bank and a Big 4 for 4 years, he got scholarship for Msc in a branch of biological science in a Norwegian school. He took the scholarship. Guess what is the advantage? He can decide to continue with his science field after his Msc, or if he decides to go back to industry, his 4 years prior experience in a Big 4 will still get him a good job in the line of his Big 4 experience and nobody will care about his age again as he will be coming as an experienced hire. This means he has 2 options – to either use his Msc or his Big 4 experience. Compare that to if he had gone for his Msc straight and before he came back, he was above the entry level age for a Big 4.
As for your questions on salaries, promotions and all of that, I’m not in a position to answer. And it’s actually not a great question. Pay is not by course. Two graduates of economics working as Health Economist in two different organizations can earn something as different as 10% of the other’s.
I wish you all the best.
Jarus
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As rightly said by Jarus, getting into the big four is more advantageous than Msc for I know not a few people roaming the street even after their second degree with a very intimidating grade for that matter.
Also, health economics is just evolving in Nigeria as we have few people in the field.
The big four experience will be helpful as you can always do your masters later.
All the best.
I concur with Jarus. Masters is going nowhere! Even after 5 years of work, you can still come back for it. Do not throw away any opportunity to work with the Big 4 or any other well structured organisation in Nigeria. Your age is a BIG plus. In fact, in this present situation Nigeria has found herself, I am tempted to say it is one of the biggest plus you have as a graduate because companies will rush for you if you are good at what you do or very smart. Do not be surprised that even by now, people who know you have forwarded your name to notable banks and companies.
Good work Jarus. Respect sir! God bless you.
Pls sir, I realy need ur help. I credited all my art subject, I wanted to read law but my parent denied. Am confused which course to choose again. They wanted me to read agric, but its nt possible with my subject. Pls I need u to list courses, best uni, subjects combination. This is my result.
Eng – B2
Maths – C5
Bio – B2
Econs – A1
Agric – B2
Govt – B2
C.R.K – B3
Lit..in..Eng -C6
Chem – C6 (I used it to replace language). Am an student. Pls jarus I need real help. I want to buy 2016 jamb form but am confused. (crying)
Hi Austin,
Can you try and convince your parent more to let you study Law, which is your desired course?
Do you have any other course on your mind? Without Physics, I don’t think you can study engineering, but you should be able to study Agric Economics. That is if you must study Agric. If you don’t want Agric, what are the other courses you like apart from Law? There are thousands of courses, so I can’t pick one from the air, except you narrow down your courses of interest.
That said, you had A1 in economics, can you consider studying Economics? It’s a very good course. I als0 studied economics.
Jarus