Banking: Work vs. Masters?

spaniel

I'm a final year student expecting a good (1.1) degree in financial maths & economics looking to get into banking, tried applying for a few graduate programmes but didn't get in (still waiting on AIB but not crossing my fingers!)
Can anyone tell me if I'd be better off doing a masters (eg. economics, quantative finance) or just taking at an entry level position in a bank and trying to work my way up? that's assuming some-one'll have me! :-) Thanks!

AARRRGH

If I were in your shoes, I'd do the Masters. You have the rest of your life to build your career...

boomboombazza

i know people in graduate programmes with just a 2:1 b comm so i dont think the academics are what your missing. maybe its intervew technique? with a 1:1 in financial maths and economics you should be a shoe in for these jobs. I dont see whatt more academics will do for you-obviously it wont hurt to do one but as far as jobs go you should have enough with your 1:1 so i'd say work on your interview technique

MIN2511

OP, you do need work experience. The master is a good idea but after the masters + no experience = not so good a salary as masters + experience....
Don't also depend on graduate programs, they are not the best! Apply directly to companies, these days most companies are looking for a package (degree, good personality e.t.c.) maybe you are not selling yourself enough.

AARRRGH

Yeah don't focus on the graduate programmes. Most companies don't have graduate programmes but might need staff...

Eoin

MIN2511 wrote: »

OP, you do need work experience. The master is a good idea but after the masters + no experience = not so good a salary as masters + experience....
Don't also depend on graduate programs, they are not the best! Apply directly to companies, these days most companies are looking for a package (degree, good personality e.t.c.) maybe you are not selling yourself enough.

I'd say it's probably easier to get the Masters over and done with now, especially if it's just another year. It will be easier to do it full time now, than part time later on I'd think.

jackbhoy

eoin_s wrote: »

I'd say it's probably easier to get the Masters over and done with now, especially if it's just another year. It will be easier to do it full time now, than part time later on I'd think.

I agree with this. I was offered Masters and a Grad Programme place on same day. I took the job as I wanted to clear debts etc and it was one of better grad programmes in country, I said I'd go back and do masters part time and work even offered to pay fees/exams, give study leave etc but just don't have time or motivation to go back to study.

If you do take a job and want to do masters part-time then do it as soon as possible after starting work as, in my experience, the longer you leave it the harder it is to go back.

spaniel

thanks for all the advice! my course is actually a 4-year course which covers alot of subjects at a masters level (in fact we take many subjects with masters students) so I was kind of leaning away from it! It's great to know that it's ok to take a job not on a graduate programme, from the impression I was getting I would never be successful if I didn't get on one! You're definately right about working on my interview technique though, I tend to get very nervous and mess up!!

MIN2511

jackbhoy wrote: »

I agree with this. I was offered Masters and a Grad Programme place on same day. I took the job as I wanted to clear debts etc and it was one of better grad programmes in country, I said I'd go back and do masters part time and work even offered to pay fees/exams, give study leave etc but just don't have time or motivation to go back to study.

If you do take a job and want to do masters part-time then do it as soon as possible after starting work as, in my experience, the longer you leave it the harder it is to go back.

I don't agree with this, but as they say different strokes for different folks. I am finishing my degree (Project work) and also working, i have nearly 2years experience in my field (IT). Even though i don't have a masters yet, I stand to have a better paid job and package than someone who comes out of their masters with a 1st.
Don’t get me wrong it’s a good idea to do the masters but I think it’s too soon.

nesf

eoin_s wrote: »

I'd say it's probably easier to get the Masters over and done with now, especially if it's just another year. It will be easier to do it full time now, than part time later on I'd think.

Yeah, it's only a year and really it's a lot harder to do it in five years time when you've gotten used to getting a nice salary every month. Plus fewer commitments (most likely no kid, mortgage if you're finishing your degree) etc.

A year might seem a long time now but really in the long term it really isn't.

Electric

I would definitely say that you are better off getting some work experience right now.

As other posters have said the Masters can come afterwards and alot of companies have training schemes where they will pay your fees or give study leave.

I work in a Bank and in the last position that became available we turned down a couple of candidates that had gone straight on and done their Masters. It was purely on the basis that they have no experience and while their academics might be excellent if they can't do the job there is no point in hiring them

nesf

What experience could he get straight out of the degree that he couldn't get after doing the Masters? A Masters doesn't substitute for experience, it complements it.

MIN2511

He can always do a Masters program while working or take a year out and go back to school.
OP, we are only talking from experience but at the end of the day apply for both. If you don't get a job you do your masters and if you get both you come back and ask us to weigh the pros and cons

stepbar

Do not take an entry level job in a bank!!!! You'll only end up killing yourself to get promoted and for what? If you want to work for a bank for god sake make sure its not a sales orientated job.

Don't make the mistake I did.

(BTW I have a Masters and I joined the bank on a grad programme but am now faced with the realisation that my job is sales orientated. I was duped to be honest .)

Hitchhiker's Guide to...

There's a good new Masters in Finance starting in Trinity this year; also the amazingly popular (with employers) MSc in Investment and Treasury (i think) in DCU.

I started working in finance after a degree and a masters in the subject, and i don't think it made all that much difference to the job i got.

I'd take a job now if you're offered one, would be my personal advice.

Electric

nesf wrote: »

What experience could he get straight out of the degree that he couldn't get after doing the Masters? A Masters doesn't substitute for experience, it complements it.

There is plenty of experience to be had. For a start he might find an area to specialise in which could dictate the kind of Masters he would apply for.

The point I was trying to make is that I work for one of the largest banks and we have consistently preferred those candidates with work experience over those who have gone straight on and done their Masters.

Plus there is always the fact that Masters are expensive and a lot of employers are willing to fund them

justfortherecor

Why not have the best of both worlds OP and do an internship this summer before starting a Masters?

Last year I was in a similar situation to yourself but I also knew I would like to do a masters while I still had the opportunity. Got my Masters organised first and then I looked at internships in banks for 10 weeks during the summer (ie period after the I finished the undergrad and before starting the masters.) Coming back to the Irish market with an internship and a 1.1 degree should put you in good stead for a grad programme.

And with a 1.1 in Fin Maths and Economics I wouldnt consider doing entry level at a bank as it would most likely bore you to death. Maybe the work experience is indeed the missing link but also ask your careers office or friends for advice as to whether your interview technique is holding you back as well perhaps?

nesf

Electric wrote: »

There is plenty of experience to be had. For a start he might find an area to specialise in which could dictate the kind of Masters he would apply for.

The point I was trying to make is that I work for one of the largest banks and we have consistently preferred those candidates with work experience over those who have gone straight on and done their Masters.

Plus there is always the fact that Masters are expensive and a lot of employers are willing to fund them

All very true. My point was more that doing a Masters won't disadvantage a person and that comparing a graduate with a masters with a graduate with a year's experience is the wrong way of looking at things.

ixus

spaniel wrote: »

I'm a final year student expecting a good (1.1) degree in financial maths & economics looking to get into banking

What's a bad 1.1 like:D

What university are you in? What masters classes did you cover?

IMHO your expected grade should render you above any Irish grad program, snobbish I know. Did you look at London?

I'd recommend doing an MSc above a regular Masters given your grading and interest. Start applying now and you should know whether you get in soon enough. You can keep applying for jobs anyway.

Banking is a broad discipline, there's securitisation, capital markets, treasury, sales, corporate finance etc. All require different skill sets. From your brief background, you look like you're interested in quants and maybe trading? No Irish grad programme I know would set you up for this, you need to get straight into a focused job.

Masters courses I know of that would be suitable for your discipline are:

DCU : MSc in Capital Markets (full time)
DCU : MSc in Investment & Treasury (part-time)
Trinity : MSc in Financial Services (new)
NUIM : Masters in Financial Engineering (full& part time)
UL : MSc in Computational Finance (full time)
UL : MSc in Financial Services (full time) - I'm doing this one.

Dudess

OP, in my opinion you should DEFINITELY do the masters. A masters is a highly respected qualification. E.g. I did mine in journalism up in DCU after completing an arts degree in UCC. There is more regard for this masters in journalism than the BA in journalism at the same college.
Also, if you get the marks to go on and do a postgrad, why not? You may as well top up your degree - particularly when it's only a year.

And yes, entry level in the bank - don't sell yourself so short if you can avoid it. I got a permanent position in a large branch of AIB (Munster headquarters) when I dropped out of college years ago - I had a typing cert to my name! Ok I was out in the back office and it was more the administrative/clerical side of things I was involved in, but my title was still bank official rather than administrative support, and I was still doing actual banking duties - such as taking account queries, tracing missing cheques, processing corporate lodgments etc.
It was only a stop-gap for me for 18 months - I never had any interest in working in finance so I don't know much about the area, but maybe you'd be better off going for investment banking rather than branch banking. How about applying to Citibank? (After your masters!) That's supposed to be a good place to work, in terms of salary anyway.

johnnyflav

I'm starting a banking grad programme next year. There was the option of doing a masters before starting the job, but my future employers advised against it.

They were far more encouraging of doing an MBA (on them of course) after working for a couple of years.

btw, depending on the bank they'll have different proirities on assessing you. Grades for some places are number one and others give more importance to extra-curricular, work experience, personality etc.

If you're still having difficulty getting a place on grad, do an internship. They're often easier to get and can lead to a full time position if they like you.

spaniel

ixus wrote: »

What's a bad 1.1 like:D

What university are you in? What masters classes did you cover?

I'm in NUI Galway, and we study alot of economics subjects such as Economics of Financial Markets at a Masters level plus a few maths subjects (stochastic processes, numerical analysis etc). I was thinking of going into Risk Management but I don't know how to get started in that sector?
I know employers look for more than grades but I've had alot of part-time jobs (including two summers abroad) and have a good few extra-curriculars.

ixus

Ok, I had a look at the spec online and it's pretty impressive stuff. The only issue I would see with it is you're missing some business orientated subjects. For example, on my course we cover portfolio theory, financial analysis, corporate finance, taxation etc. Have a look at the spec. Maybe you are too specialised on your course?

Anyway, job wise, here are a couple of links:

Have a look around recruitment sites and just put risk in the search and see what happens. Plenty of junior quants & risk etc. It's your best place to start if you want a job, a couple of contracts to get the feel for the job type.

I worked in back office after college and went back to MSc after 2 years, all I got from the work was a bit of money (not much mind) and a desire to better myself.

Don't even think about an MBA, you're way too young/inexperienced IMHO. Look into the Certified Financial Analyst (CFA).

Ixus

IrishMike

spaniel wrote: »

I'm a final year student expecting a good (1.1) degree in financial maths & economics looking to get into banking, tried applying for a few graduate programmes but didn't get in (still waiting on AIB but not crossing my fingers!)
Can anyone tell me if I'd be better off doing a masters (eg. economics, quantative finance) or just taking at an entry level position in a bank and trying to work my way up? that's assuming some-one'll have me! :-) Thanks!

What area of banking are you interested in? Its a diverse field.
If equties are your thing you really should look at becomming CPL qualified
rather than doing a post grad or a degree. Internationally recognised, self
thought and is a huge advantage in going for jobs.
Also the MSc in Investment & Treasury in DCU is a fantastic course and
has a great reputation in the industry

gerry87

You said quantitative finance in the first post, is that the MSc in Quantitative Finance in smurfit? If not, have you looked at it? It's three semesters long, one year, then for the summer they help you get an internship before the final term, which would help with experience. It looks pretty good, intense but good.

I haven't done it now, i'm going to apply to it, so all i know about it is what they've said in the talks, which is obviously a tad biased. Does anyone have any experience of this?

justfortherecor

I know that Pioneer Asset Mgmt have a strong link with the above course and employ a number of the graduates every year I think. Fantastic place to get a job in as well; its not just back office they have in dublin, their HQ is here too so they have some very good positions available.

ixus

IrishMike wrote: »

you really should look at becomming CPL qualified
rather than doing a post grad or a degree. Internationally recognised, self
thought and is a huge advantage in going for jobs.
Also the MSc in Investment & Treasury in DCU is a fantastic course and
has a great reputation in the industry

@IrishMike, what's a CPL? I had a look but can't find anything on it regarding finance.

With regards a part-time course OP, your issue is this:
You're coming straight out of college and to look for a company that will be happy to employ you in a capacity that will allow you to attend such a course would be extremely difficult (these courses would require leaving work early). You would have to prove yourself over a year or two at least before any company would look at this IMHO.

My advice would be this, apply for those MSc courses you think would be interesting and would add to your skill set. Try and have a short term (3month) contract lined up in risk (something like i linked above) and see what you think of it. You could work June-August or July-September as most courses wouldn't start until late September. I think this would give you a great idea of where you want to head.

damnyanks

With a 1.1 in a financial maths degree you're better off going through a recruitment agency in London. Graduates scams... I mean schemes are programs designed to limit what you're paid with the promise of a few months training and a couple of extra short term drinking buddies You'll lose them due to work commitments.

Dudess

Very good point. I was on a journalism training course with a newspaper for a while. It was on-the-job training with the piddliest pay (well below minimum wage) and the trainees were still writing major page 1 stories.
It was just a way for the newspaper to employ staff for next to nothing.

Nilo

damnyanks wrote: »

With a 1.1 in a financial maths degree you're better off going through a recruitment agency in London. Graduates scams... I mean schemes are programs designed to limit what you're paid with the promise of a few months training and a couple of extra short term drinking buddies You'll lose them due to work commitments.

I don't think this applies to the banking industry (or at least to the investment banking industry). If the OP is looking to get into risk management then an investment bank graduate scheme is probably the way to go about it. And the point about people on grad schemes being a cheap source of labour isn't exactly true - they're cheap relative to associates/MDs/VPs, but that's because they lack experience. And "cheap" means that they "only" get £40k basic (plus bonus) as opposed to £80k (plus a multiple of basic salary as bonus - depnding on individual, industry and firm performance).

So, if at all possible, try to get onto a grad scheme. It's not the end of the world if you don't get on one (and IIRC the closing dates for most will already have passed) - but if you do go on to do a masters you can always start applying to them again in August/September this year. Ideally you would have an internship lined up for this summer, but again it's not completely vital. If you are thinking about going onto an investment banks grad scheme (London based) then seriously consider doing a masters in one of the UK target unis (although be prepared for the hefty course fees - £20k+). Failing that, have a look at some of the courses in Smurfit or Quinn. They won't be anywhere near as targeted as the London unis, but they're significantly cheaper (for both course fees and probably living costs). Once you go outside these two Irish unis then you're probably taking a fairly big drop in terms of how the unis are targeted (in terms of investment banks).

All of the above is assuming that you don't mind leaving Ireland and going to work/study in the UK. Sticking with the banks in Ireland, you'll probably be severely limiting the amount of places that have risk management departments that would be hiring grads straight from college, or even hiring people at all. I can't see the likes of AIB or BOI taking on more than 2-3 risk management people each year.

Pythia

OP, you are selling yourself so short.
I was in a similar position to you last year (I did basically the same course but in UCD, also got a 1st). I work in risk management now.
PM me if you want any help.

You can do whatever you want with a degree like that. It is probably how you come across in interviews and what you wrote on your CV.

damnyanks

Nilo wrote: »

I don't think this applies to the banking industry (or at least to the investment banking industry). If the OP is looking to get into risk management then an investment bank graduate scheme is probably the way to go about it. And the point about people on grad schemes being a cheap source of labour isn't exactly true - they're cheap relative to associates/MDs/VPs, but that's because they lack experience. And "cheap" means that they "only" get £40k basic (plus bonus) as opposed to £80k (plus a multiple of basic salary as bonus - depnding on individual, industry and firm performance).

So, if at all possible, try to get onto a grad scheme. It's not the end of the world if you don't get on one (and IIRC the closing dates for most will already have passed) - but if you do go on to do a masters you can always start applying to them again in August/September this year. Ideally you would have an internship lined up for this summer, but again it's not completely vital. If you are thinking about going onto an investment banks grad scheme (London based) then seriously consider doing a masters in one of the UK target unis (although be prepared for the hefty course fees - £20k+). Failing that, have a look at some of the courses in Smurfit or Quinn. They won't be anywhere near as targeted as the London unis, but they're significantly cheaper (for both course fees and probably living costs). Once you go outside these two Irish unis then you're probably taking a fairly big drop in terms of how the unis are targeted (in terms of investment banks).

All of the above is assuming that you don't mind leaving Ireland and going to work/study in the UK. Sticking with the banks in Ireland, you'll probably be severely limiting the amount of places that have risk management departments that would be hiring grads straight from college, or even hiring people at all. I can't see the likes of AIB or BOI taking on more than 2-3 risk management people each year.

My friend joined a bank in london as a lateral hire from college with similar qualifications. He started an extra 5k basic salary and an uncapped bonus (Your bonus is capped as a grad). He worked in exotics which is tricky to find good people in. Proved himself and his salary was doubled. I started recently after doing an internship went straight in as a lateral hire and have a good few extra K on my salary. Also know my bonus was a lot more then grad's doing similar roles.

If you go down the route of a MSc look at either HEC or ESCP - EAP. They are far better then UK Uni's as far as being targets is concerned as in France you need to do a work placement at the end of your studies. This means they have far better links.

Nilo

damnyanks wrote: »

My friend joined a bank in london as a lateral hire from college with similar qualifications. He started an extra 5k basic salary and an uncapped bonus (Your bonus is capped as a grad). He worked in exotics which is tricky to find good people in. Proved himself and his salary was doubled. I started recently after doing an internship went straight in as a lateral hire and have a good few extra K on my salary. Also know my bonus was a lot more then grad's doing similar roles.

I would think that this route is very much an exception rather than the norm in terms of graduate recruitment. I always thought (and everything I researched seemed to agree) that lateral hires were generally experienced hires, normally going in at associate level.

If there are "lateral hire" opportunities for the OP, then obviously investigate them, but I wouldn't put any less weight on the usefullness of structured graduate programmes. In the two years of a graduate programme your bonus will be capped - but in a non-revenue-generating position like risk, bonuses aren't going to be multiples of your salary (and in the first year your salary should be about the same as other grads in the bank). A key part of a banks graduate programme is the networking opportunites - the big IBs in London will have a massive amount of networking events and continuous training - you may be missing out on some of the short-term cash benefits of being a "lateral hire" (although most grad programmes have a bas of £30k minimum, generally around £36k+), but the experience is invaluable.

OP, are you looking to get into an investment bank or something along the lines of AIB/BOI/Anglo, etc? The difference in competition for jobs (and salary, hours, benefits, etc) will be massive between the IBs and the more retail/business-orientated banks.

spaniel

Nilo wrote: »

OP, are you looking to get into an investment bank or something along the lines of AIB/BOI/Anglo, etc? The difference in competition for jobs (and salary, hours, benefits, etc) will be massive between the IBs and the more retail/business-orientated banks.

Yes I've only applied to AIB/BOI/Anglo etc, to be honest that was more my own stupidity as I missed alot of the deadlines for the investment banks. Having said that I want to get into risk management and AIB is the only place I could find which does a specific risk-management graduate programme. (RBS does aswell but I didn't get past that telephone interview) I sat the interview for AIB 2 weeks ago and won't hear for another 2 weeks but I severely under-performed at the intervew (lost my purse directly beforehand, was a nervous wreck at the actual interview) so I'm not crossing my fingers.

Thanks to every-one for all the advice, I've pretty much decided against doing a Masters and am going to try and get a job in June directly after finishing my exams. Even if it's just entry level I will get some experience and save some money for paying for my Masters if I decide to do one a year later. Does any-one know is the competition for back- and middle-office jobs in investment banks as fierce as it is for front office?

damnyanks

I would think that this route is very much an exception rather than the norm in terms of graduate recruitment. I always thought (and everything I researched seemed to agree) that lateral hires were generally experienced hires, normally going in at associate level.

If there are "lateral hire" opportunities for the OP, then obviously investigate them, but I wouldn't put any less weight on the usefullness of structured graduate programmes. In the two years of a graduate programme your bonus will be capped - but in a non-revenue-generating position like risk, bonuses aren't going to be multiples of your salary (and in the first year your salary should be about the same as other grads in the bank). A key part of a banks graduate programme is the networking opportunites - the big IBs in London will have a massive amount of networking events and continuous training - you may be missing out on some of the short-term cash benefits of being a "lateral hire" (although most grad programmes have a bas of £30k minimum, generally around £36k+), but the experience is invaluable.

OP, are you looking to get into an investment bank or something along the lines of AIB/BOI/Anglo, etc? The difference in competition for jobs (and salary, hours, benefits, etc) will be massive between the IBs and the more retail/business-orientated banks.

Well then you're research is wrong. Lots of people come in as analysts without going through the graduate program. It's more difficult as a position has to be open as opposed to you just dropped your CV into grad recruitment. (Handy thing is you don't need to do the lotto which is a HR designed recruitment process)

As the guy was asking should it be a masters or just get his foot in the door I'd favour foot in the door. By risk management I'm assuming he means market risk which his degree would be great for. Lots of opportunities in that area especially given the recent movements in the market. If he is going to check out a grad program he has to wait until next year (When its going to be more competitive as most banks are taking less grads).

As for the original poster some companies that owuld be particularly interested in your degree are

Man Investments
DE Shaw
Barclays global investors

All of them focus on quant based strategies so like to have number crunching types. Man recruit all the time.

damnyanks

spaniel wrote: »

Yes I've only applied to AIB/BOI/Anglo etc, to be honest that was more my own stupidity as I missed alot of the deadlines for the investment banks. Having said that I want to get into risk management and AIB is the only place I could find which does a specific risk-management graduate programme. (RBS does aswell but I didn't get past that telephone interview) I sat the interview for AIB 2 weeks ago and won't hear for another 2 weeks but I severely under-performed at the intervew (lost my purse directly beforehand, was a nervous wreck at the actual interview) so I'm not crossing my fingers.

Thanks to every-one for all the advice, I've pretty much decided against doing a Masters and am going to try and get a job in June directly after finishing my exams. Even if it's just entry level I will get some experience and save some money for paying for my Masters if I decide to do one a year later. Does any-one know is the competition for back- and middle-office jobs in investment banks as fierce as it is for front office?

Look into any of the credit risk programs at the banks as this is what you're looking for. It's a good time to get into that area as they're eager to get more poeple on board.

You shouldnt really resign yourself to the fact that you've missed the boat on the major banks as still a lot hiring if you look around. Check out ratings companies as well (Fitch) as you basically do research into how well the companies manages its risk to determine its overall rating.

Nilo

damnyanks wrote: »

Well then you're research is wrong. Lots of people come in as analysts without going through the graduate program. It's more difficult as a position has to be open as opposed to you just dropped your CV into grad recruitment.

I think we're probably talking about different things - I was referring more to the BB/MM investment bank positions, where unless you have good contacts (which most Irish people wont have - especially in a uni like NUIG, where, AFAIK, none of the big IBs come to recruit at [bar the likes of Citi's and HSBC's Belfast/Dublin offices]). As I said above, it seems that generally the lateral hire route is geared towards people already working/with experience, while it's fairly obvious who the graduate programmes are geared towards. Like I said, it's a general thing, so there are probably a few exceptions. But from all the people I've met working in IBs, the only people who've come in straight from undergrad positions have either had amazing connections, or previous experience. Internships generally lead to grad offers (as opposed to lateral/experienced hires). But like I said, we're probably talking about very different banks here.

OP, I think even if you aren't very inclined to do a masters next year, you should still apply to one or two just incase. In a few months time you may be grateful to have a position on a masters available to you, along with the option to find a job.

Does any-one know is the competition for back- and middle-office jobs in investment banks as fierce as it is for front office?

It certainly wouldn't be as fierce as FO positions. For a start, there are (generally) more back/middle office positions than there are front office (although not a huge amount) and as they're not revenue generating positions, the bonus won't be as high and as such you don't have thousands of people fixated on making huge amounts of money applying to BO/MO. It'll still be tough though. Once you get past the (sometimes very random) CV/application screening stage then it's all down to how well you perform in the interviews/assessment centres.

Basically, all I'm saying is leave your options open. Have a look for a "lateral" hire position, but also look into applying to at least one or two masters courses (that you'd be willing to do). Think about if you want to work in a smaller bank or be a "cog" in a global IB, have a look at rating agencies and other less obvious places as damnyanks mentioned.

damnyanks

I think we're probably talking about different things - I was referring more to the BB/MM investment bank positions, where unless you have good contacts (which most Irish people wont have - especially in a uni like NUIG, where, AFAIK, none of the big IBs come to recruit at [bar the likes of Citi's and HSBC's Belfast/Dublin offices]).

My point is that you're wrong :P

Seriously though its not about connections. You simply dont apply for a grad role through the grad website. You either send your CV in or give it to an agency. This is at a "BB" firm. The problem a lot of hiring managers have with grad recruitment is that the candidate needs to be vetted by HR and the grad team not by the hiring manager themselves.

Mikel

If you're going into risk management, the more maths qualifications you have the better. True 'quant' roles in Dublin are few and far between, but the more maths skills you have the more quantitative the role will be.
More quantitative = more valuable to the bank = more money and progression.
The danger is that with a Bsc you MIGHT get stuck in a half way house risk job for a couple of years.

If you want to decide what to do, the best thing is apply the financial theory you've learned. PV all the cash flows over your career, you lose one year of salary (30k ish?) and you gain how much??