Is a master's degree worth it? | My LLM experience
TLDRIn this video, the speaker reflects on the value of their Master's degree in banking law and financial regulation from the London School of Economics. They compare the educational experience to their undergraduate studies, discuss the relevance of a Master's to their work as a corporate lawyer, and consider its impact on career prospects. The speaker also shares insights on the social and networking benefits of the program, the lifestyle of a Master's student, and the financial aspect of pursuing a Master's degree. Ultimately, they conclude that the worth of a Master's is subjective and depends on individual circumstances and goals.
Takeaways
- 🎓 The speaker's Master's in banking law and financial regulation provided a more specialized and focused educational experience compared to their undergraduate studies.
- 🚀 The Master's program allowed for deeper exploration of specific topics, such as the detailed study of the 2008 financial crisis, which was not possible at the undergraduate level.
- 💼 While the Master's degree was not directly impactful on the speaker's daily work as a corporate lawyer, it did contribute to a better understanding in certain areas, like derivatives and economic concepts.
- 🌐 The diversity of the Master's class, with students from various global regions, enriched the learning experience and offered a broader worldview.
- 📈 The Master's degree did not significantly impact the speaker's job hunt or career prospects, as they already had a contract with a firm before starting the program.
- 🔍 For some classmates, the Master's degree was a means to find jobs in London, highlighting its potential role in career opportunities, especially for those seeking to work in a different jurisdiction.
- 🤝 The social and networking aspects of the Master's program were valuable, with classmates from different jurisdictions later collaborating on transactions or referring each other for legal services.
- 🌍 Studying abroad during the Master's program provided a mature, adult-like experience with more freedom and flexibility in lifestyle compared to undergraduate studies.
- 💰 The financial aspect of a Master's degree is a significant consideration, with costs adding up, especially when studying in a foreign country.
- 🤔 The worth of a Master's degree from a financial perspective depends on individual circumstances, career goals, and the potential for increased earnings or career advancement post-graduation.
Q & A
What type of Master's degree did the speaker complete?
-The speaker completed a Master's degree in Banking Law and Financial Regulation at the London School of Economics in the UK.
How does the speaker describe the educational experience of a Master's program compared to an undergraduate degree?
-The speaker describes the Master's program as a better educational experience, with more specialized and honed-in courses focused on specific topics of interest, as opposed to the more generalist nature of undergraduate programs.
What was the speaker's personal example of a specialized course they found interesting?
-The speaker found the course 'International Financial Regulation,' which detailed the 2008 financial crisis from its pre-crisis regulations to post-crisis evolutions, particularly interesting and beneficial for understanding the financial system.
How did the speaker's Master's degree impact their work as a corporate lawyer?
-The speaker found that the knowledge gained from their Master's was not directly impactful on their daily work as a practicing lawyer, which was more about hands-on experience and learning on the job. However, certain aspects, like understanding derivatives and having a broader economic perspective, were beneficial in specific contexts.
What was the speaker's experience with an elective course outside of their law faculty?
-The speaker took an economics course at the London School of Economics, which significantly enhanced their general knowledge and understanding of market dynamics, aiding them in advising clients with a better grasp of commercial realities and challenges.
How does the speaker view the relevance of a Master's degree for barristers versus solicitors in Hong Kong?
-The speaker suggests that a Master's degree might be more relevant for barristers, as their work is more academic and technical, whereas solicitors primarily deal with drafting contracts and advising clients, which may not require the same level of specialized knowledge.
What was the speaker's perspective on the career prospects enhanced by a Master's degree?
-The speaker indicates that while a Master's degree can show interest and dedication to the field, it was not a significant factor in their own career progression since they already had a job lined up. However, it could be beneficial for those seeking to apply for jobs in a specific jurisdiction or needing specialist knowledge for certain industries.
How did the diversity of the speaker's Master's classmates contribute to their experience?
-The diversity of the speaker's classmates from various global regions enriched their experience by exposing them to different perspectives and stories, which led to lasting connections and potential networking opportunities.
What lifestyle benefits did the speaker enjoy as a Master's student in the UK?
-The speaker enjoyed a more flexible schedule with less class time compared to undergraduate studies, allowing for more control over their study, social, and leisure time, contributing to a more adult-like experience.
What was the speaker's take on the financial aspect of pursuing a Master's degree?
-The speaker acknowledges that Master's degrees are generally expensive, especially when combined with living abroad. However, they personally found value in the degree due to personal growth, learning, and the positive experiences they had, despite not needing it for career progression or salary increase.
How does the speaker suggest one determine if a Master's degree is worth pursuing?
-The speaker advises that the decision to pursue a Master's degree should be based on individual circumstances, career goals, and the specific industry's requirements. It's a personal decision influenced by factors like the potential for salary increase, the need for specialist knowledge, and the desire for personal development.
Outlines
🎓 Master's Degree Experience and Learning Value
The speaker shares their personal experience with pursuing a Master's degree in Banking Law and Financial Regulation at the London School of Economics. They compare the educational experience of a Master's program to that of an undergraduate degree, highlighting the specialized and in-depth nature of Master's courses. The speaker found their Master's program more engaging and informative, particularly due to the detailed study of the 2008 financial crisis through the course 'International Financial Regulation'.
💼 Relevance of Master's to Career and Job Prospects
The speaker discusses the relevance of a Master's degree to their work as a corporate lawyer and its impact on job hunting. They admit that the knowledge gained from their Master's was not significantly impactful on their daily work, as practical, on-the-job learning was more applicable. However, certain specialized knowledge from their Master's, such as derivatives and economics, did enhance their understanding and performance in specific legal tasks. The speaker also notes that the relevance of a Master's to career prospects can vary greatly depending on the industry and job requirements.
🌐 Networking and Social Aspects of Master's Programs
The speaker emphasizes the social and networking benefits of their Master's program, which included a diverse group of international classmates. This diversity enriched the learning experience and provided opportunities for global connections. While the speaker did not actively network, they acknowledge that some classmates did collaborate professionally and recommend lawyers from their respective jurisdictions, indicating that Master's programs can foster valuable professional relationships.
💡 Lifestyle and Personal Growth During Master's
The speaker reflects on the lifestyle advantages of being a Master's student, particularly the flexibility and freedom in managing one's schedule. They highlight the adult-like experience of living in London during their studies, which they consider among the best times of their life. The speaker encourages students and professionals to seize opportunities for studying or working abroad for personal growth and unique experiences.
💰 Financial Considerations of Pursuing a Master's
The speaker addresses the financial aspect of doing a Master's, acknowledging the high costs involved, especially when studying abroad. Despite the expenses, the speaker believes their Master's was worth the investment due to personal growth, enjoyment of the program, and the lack of financial strain. They also note that for some classmates, the Master's degree was a financial boon as it enabled them to secure higher-paying jobs in London, making it a worthwhile investment for career advancement in certain jurisdictions.
Mindmap
Keywords
💡Master's degree
💡Educational experience
💡Career prospects
💡Networking
💡Personal development
💡Financial regulation
💡Law
💡Economics
💡Study abroad
💡Value for money
Highlights
The speaker reflects on the value they gained from their Master's degree in banking law and financial regulation.
Master's programs offer a more specialized education compared to undergraduate programs.
The speaker's experience with a specialized course on International Financial Regulation provided a deeper understanding of the 2008 financial crisis.
The relevance of a Master's program to one's career depends on the specific job and industry.
The speaker found that their Master's degree was not highly impactful on their daily work as a practicing lawyer.
Certain knowledge from the Master's program, such as derivatives and economics, was useful in the speaker's legal work.
The personal growth and broader perspective gained from a Master's degree can be beneficial in professional roles.
In Hong Kong, a Master's degree might be more relevant for barristers than solicitors due to the academic nature of barristers' work.
A Master's degree can boost career opportunities, especially for those seeking jobs in the country where they study.
The social and networking aspects of a Master's program can be valuable, with diverse classmates from around the world.
The lifestyle of a Master's student offers more flexibility and freedom compared to undergraduate studies.
Studying abroad during a Master's program can be a life-enhancing experience.
The financial value of a Master's degree depends on individual circumstances and potential career advancements.
Scholarships and family support can mitigate the high costs of a Master's program.
For some, a Master's degree may be a good financial investment if it leads to higher-paying jobs or career changes.
The decision to pursue a Master's degree should be based on personal goals and the potential benefits to one's career.
The speaker encourages viewers to share their own experiences with Master's degrees in the comments.
Transcripts
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