June 2025, in Round 5 of 6 application rounds at London Business School, I was offered admission into the prestigious Masters in Finance (MiF) program.
August 2025, I started the program. It will take me two years to complete as I am studying part-time.
From thinking about attending LBS, to submitting my application, going through the interview process, receiving the admission decision, and then being awarded a merit scholarship — I’ve been the happiest. I’ve looked forward to going back to school for many years, and I couldn’t be more proud to be attending the best business school in Europe and the best MiF program in the world.
Right now, it’s like “elẹ́ gùn ẹṣin nínú mi”¹ — that’s exactly how I feel.
I’m writing this article not to reminisce about how I feel, but to answer a critical question: why I decided to attend a Masters in Finance programme and not an MBA.
You see over the last ten years, I’ve dreamt of doing an MBA programme, and within my professional circle over the last seven years, there has probably been no more recurring conversation than, “When are you going for your MBA?” It’s been a common topic among my peers; many of whom have already pursued one, with many more planning to do so.
At the same time, recommending an MBA has been my top advice to people over the last couple of years because it simply makes sense — for the goal they wanted to pursue.
Personally, it’s the topic on which I have sought the most advice from senior colleagues: “Would you recommend an MBA?”, “What’s your take on the ROI?”, “How can one get into the best MBA programmes?” — and many more questions like that.
As a result of the above points, I believe it is worth sharing my thought process around that decision. First, with those I’ve been discussing this with over the years, and secondly, with others who might be at a crossroads and could use someone else’s compass to navigate their path.
My thoughts process
Until a few years ago when I moved to the UK, I’d never imagined a life in the UK and as a result was not acquainted with its economy or the labour-levers of the economy. By labour-levers, I mean what gets rewarded vs not vs indifference in a given labour market. On the other hand, I am aware of this for the US — as much as one could from the corners of Ilorin, Kwara state or Ketu, Lagos state. For the US, I knew that getting an MBA from a M7 or T20 school increases your surface area of opportunity — including in a wide variety of industries. So my preference for MBA was largely driven by the US lens.
After moving to the UK, I still remained pro-MBA as the best option for anyone interested in switching careers (top reason why people do MBA) or interested in the business of businesses (another top reason). A critical turning point came when I decided that, in the foreseeable future, I’d like to remain in the UK rather than move to another country — the US. As a result of that decision, I focused my eyes on the UK and started paying attention to what the labour-levers are and which levers would help me achieve my goals of wanting and investing in higher education.
So what are my goals?
- I wanted a career in the asset management industry. What specifically that should be, I don’t know. So I hoped, first, that the programme I opted for would help me figure that out and be instrumental in helping me enter the industry.
- I wanted something very technical—again, with the aim of serving my first goal. By very technical, I meant something that would give me a deep foundation in finance, broad enough to cover a wide range of areas but with enough rigour to support my ambition in asset management.
- I wanted a programme that limits my optionality to exactly what I outlined in point one as my primary goal. I wanted to optimise for focus, not broad choices.
- I wanted a programme that would immerse me in the London asset management ecosystem. By this, I mean one that offers opportunities to learn from what others are doing, to connect with them, and to share in a sense of professional camaraderie.
- I wanted time flexibility—a priority I only recognised later, but one that became important to include. By this, I mean having the space to fully digest the four points above without the added pressure of immediately securing a new job or financing the program. Being already based in London, the city of my program, gives me a natural advantage in easing that pressure.
With such clear goals, I did a deep dive into the employment report of the best MBA program in the UK. And the next few paragraphs explained what I found.
Typical MBA Outcome — in the UK
Using LBS class of 2024 as a case study.

There were 504 admits, of which 482 sought employment after completing their programme. What was their professional background, and where did they find employment post-MBA?

The broad split shows an increase in the percentage of those who took up positions in the consulting industry—42%, compared with 26% who had a consultancy background—a near 80% increase. Meanwhile, those who took up positions in the financial services sector showed a slight drop from 27% to 26%. The broad split obviously hides a nuance, which is those who moved sectors. So I took a closer look at consultants who switched to finance.
About 75% of those with a consulting background went back into consulting. Of the remainder, a few ended up in finance and the rest elsewhere. This category was important for me because if I had been in this cohort, I would have been categorised under consulting, considering my pre-MBA experience was predominantly at PwC and EY. One could estimate that less than 20% of this cohort of graduates took up opportunities in finance.
The next group in this analysis is those who eventually ended up in finance. A quick look at the above graph shows that the 27% with a finance background make up more than 50% of the 26% who ended up in finance post-MBA. As what matters most to me is this section, it was worth taking a deeper look. So I examined the 26% in greater detail to understand what it meant.
Finance sector breakdown

By my definition of asset management—which includes private equity (PE), investment banking (IB), and investment management (IM)—only 18% of graduates had a post-MBA outcome in that industry. If I exclude PE, given how selective it is and the extent to which pre-MBA finance background (which I don’t have) plays a significant role, we’re looking at just 10%—about 48 individuals out of the 482 who sought formal employment after the MBA.
There’s also the question of employment density, and the next set of data helps illustrate that. But before getting into the numbers, it’s worth explaining why I believe density matters in the context of MBA outcomes.
Employment density indicates how concentrated hiring is within a particular industry or by specific employers from a given MBA programme. A high density suggests that employers view the programme as a reliable and strategic pipeline for talent—one they return to consistently and from which they source a large part of their associates. It reflects alignment between the curriculum, the network, and what the industry values (this is the most important for me, does the industry that I am interested in value it?). On the other hand, a low density might indicate a weaker connection between the programme and/or that industry—possibly due to limited exposure, weaker alumni presence, or insufficient technical alignment.

For the Class of 2024, Morgan Stanley was the top employer in the Finance sector and it recruited only 4 students. The next two top recruiters, BII and PIMCO, employed 3 each and remaining top employers employed between two and one candidate of the total ~125 (26% of 482).
What are you thinking?
Looking at the data I have presented so far, do you think MBA is best placed to help me achieve my stated goals for wanting a higher education? I hope the data was sufficient to convince you, as it did me, that the answer is no, it is not sufficient and that I needed to look somewhere else.
Also, I hope you do not take out of that a notion that the MBA program isn’t great, because it is — considering the MBA outcome. It is only that I do not believe it helps achieve my goal. For further research on LBS outcome, see the employment report.
Now, before I go into similar number-crunching for the MiF, let me share three anecdotes that factored into my decision.
1. Conversation with Corporate Finance Colleagues at EY and the response (spoken and unspoken) to that.
When MBA was still the top choice for me, I spoke to a colleague in the Corporate Finance team to understand what day to day looked like for him. During the conversation I mentioned that I was going to pursue an MBA for the pivot. He was startled, taken aback and paused for a moment. Then he said “that’s not a thing within the team.” He continued and said “if any education was relevant that he was aware of, it would be CFA. CFA is what we all are doing or planning on doing,” he added. During this conversation, I could also hear what he wasn’t saying out loud, “a MBA won’t give you an advantage here”. Truth is that I also left the call wondering why no one is doing MBA in all the corners that I turn to speak with those in my target area.
2. Random tweet on my timeline.
One day, while reflecting on the idea that you can’t just pursue an MBA for its own sake—or simply to fulfil a long-held dream that may no longer align with your immediate goals, especially given the significant investment of time and money—a random tweet popped up on my timeline. It struck a chord.

The point became even more compelling when the author, whose views I respect, revealed that the person receiving this advice came from a public sector background.
3. Encounter during job interviews.
When I started interviewing for new opportunities in January of this year, I had another encounter. First of all, I noticed very few higher degrees among the leadership of the companies I was interviewing with. On the occasions that I did, MBAs grouped together did not dominate over other forms of master’s degrees, it was all quite random. But one interview convinced me further that the MiF could be a great option. I met an interviewer who had done the programme, occupied a position I see myself in in the future, and had great things to say about it, even many years later. He was also very kind, we spoke a bit about the MiF programme and I admired him.
I’m not sure what anyone else reading these anecdotes would take from them, but I concluded that the MBA may not be right for me and that the MiF might be a better fit. Now, let’s take a look at the numbers behind the MiF as we did for the MBA.
MiF Outcome
All numbers from the MiF brochure points to an easy conclusion that MiF would be a better option towards achieving my goals.
- The class of 2023 (FT) had 141 students in its cohort. The following data is based on the outcome from this group but which can easily be used to estimate potential outcomes for the PT cohort as well since the curriculum is the same and similar resources are available to both.
- 79% have a finance background and 10% have a background in Consulting.
- Only 4% with a background in Consulting (12%) returned to Consulting. (Note: these percentages are based on those who reported back to LBS on their post-graduation outcome.)
- 82% took up positions in the Finance sector post-program. Note that more than 90% of this cohort were international students and about 50% remained in the UK after graduation.
- 82 companies recruited the graduates which equates to an average of about 2 graduates per employer.
- Compared to the MBA where MBBs dominate the employer category, only McKinsey featured as an employer for MiF graduates.
- The LBS MiF curriculum also shows a list of courses (core and electives) with potential to give sufficient technical depth. Actually I got an interesting anecdote to add to this. When I went for my interview for the programme, the interviewer, a portfolio manager and an alumnus, mentioned that a class he took on Insurance Accounting came handy at one of his deliverables that further convinced him of the value he was getting.
In addition to the above, from the brochure, the concept of a sub-sector within Finance was also highlighted. As the image below shows, there are a number of these and while investment banking dominates, there are also many other sub-sectors where the graduates have gotten employment.

Note: The PT program usually has about 40 in its cohort per year. All with existing presence in the UK and all mostly working in the Financial Services industry.
Again, what are you thinking?
I listed five expectations above for what I’m looking for in a programme I’m investing in. The data above shows that three of these—awareness of options, technical depth, and a limited number of options—are well covered if I choose the MiF. Clearly, the MiF helps me fulfil those criteria.
To paraphrase a classmate from the welcome event, referring to the broadness of the MBA program vs the limited scope of the MiF, she said, “I don’t want to do a course in Marketing; Finance is what I want.” That’s exactly how I feel. The MBA curriculum offers a broad range of topics that I don’t believe I need at this point. The MiF, on the other hand, has the focus I’m after—all courses are centred on Finance. Even the data analytics course is taught as Data Analytics for Finance, not for operations management or marketing optimisation. My cohort is also filled with people working across various sectors within the Finance industry—hedge funds, sovereign wealth funds, private equity, investment banking, and so on.
As for the remaining two goals—immersion in the London asset management industry and flexibility—these are achieved because I opted for the part-time option instead of full-time.
The full-time data shows that 99% of the class are international students, which means, at best, the industry insight I would gain would be based on their home countries. With part-time, however, everyone is already based in the UK and works in the industry here, even if they originally come from different countries, as I do.
And the flexibility is pretty clear—I’ll be spending two years on the programme instead of ten months. This means I don’t have to quit my current role and can hopefully apply some of what I learn immediately at work.

That’s it!
This is really what I’ve spent the last couple of months thinking about, analysing data for, and ultimately deciding on.
To everyone I’ve reached out to on this topic and who generously shared their time and insights—thank you.
For those I’ve previously encouraged to pursue an MBA, I hope you can see that I’m not against doing one; it just doesn’t seem like the right fit for what I want to achieve right now.
And to anyone else reading this, I hope it serves as a useful data point to help you as you navigate similar questions in your own career.
¹ “Elẹ́ gùn ẹṣin nínú mi” is a Yoruba expression meaning “a rider has mounted a horse inside me.” It’s a vivid way of describing a powerful surge of emotion — in this case, overwhelming joy and fulfillment.