<p>Hey everyone,</p>
<p>I have an offer from LSE for my second choice. Unfortunately, I sent my application in March; my first choice program closed one week after my app was "under consideration" and I was rejected. I believe if I reapply for the next academic year as soon as LSE starts accepting applications, I'll have a better chance for my first choice.</p>
<p>So I'm thinking this: defer this year, and reapply for my first choice. Aside from getting another shot at my first choice, I wonder if an economic recovery during the 2010-2011 academic year may help me take advantage of the incredible work opportunities and internships in London were I to defer. This assumes that the current economic turmoil has negatively affected the work opportunities and internships available to LSE students while they study. Is this a fair assumption? Any people in London or LSE students that can speak to this?</p>
<p>Also, I've read that professionally oriented LSE students start applying for jobs/internships/etc at the beginning of their M.Sc. course, even before their program begins in some cases. But given this economy, I feel many of the opportunities that would normally exist may not now. Would the upcoming 2009/10 LSE postgrads face an unusually tight market given this economy? Would 2010/11 students face better chances at securing work opportunities (by opportunities, I'm referring to the part-time jobs/internships for students while they study <em>and</em> employment prospects after students graduate). </p>
<p>Your comments are greatly appreciated.</p>
<p>Cheers</p>
<p>What subject area are you trying to get work/internships in?</p>
<p>I’m an LSE student and would be happy to answer your ?s…</p>
<p>Thanks for the reply Noble. I sent a private msg to you. </p>
<p>As for the type of work/internships I’d like to have, I’d like to get some experience in international business oriented sectors. I’m particularly interested in consulting. Research analyst type stuff in banking could be appealing, too. Anything really where I can do some research, apply critical thinking, and deliver a compelling proposal.</p>
<p>The problem with my background is I really don’t have any private business experience. I figured attending LSE would help me fix that.</p>
<p>I’d also be interested in working with think-tank policy type organizations. Or non-profit international ngos.</p>
<p>Since the economy is terrible right now, I wonder if everything has turned hyper competitive for the spots available. Have businesses scaled back internship programs/part-time opportunities for students? Have spots in general been drastically curtailed? Funding cuts for ngos, think tanks, etc? </p>
<p>I’ve heard that when interviewing for positions in London, the subject of one’s postgraduate degree isn’t as important as the “LSE” on your resume (is this true?), but are employers being much more discerning now?</p>
<p><em>bump</em> Anyone?</p>
<p>Actually I am interested in this too. Would be good to hear some opinions. </p>
<p>I did get into my first choice at LSE (and at another top school), but am still thinking of deferring b/c of the economy.</p>
<p>I too! Got into LSE (and two more) but am thinking of deferring. I’m not sure whether they’ll let you defer though - they don’t have to. Did anyone inquire about this already?</p>
<p>I don’t get it. Why would you defer because of the economy? Wouldn’t you have to find a job if you don’t go to LSE?</p>
<p>Momwaiting,</p>
<p>I’m assuming that during the deferral year, I have a job. The point is that typically Lse students typically have great professional opportunities while they study and after. But these are atypical times, so waiting another year may allow students to fully take advantage of professional opportunities in a better economic climate.</p>
<p>Since a lot of people are interested, I will reply here:</p>
<p>Basically, I don’t think it will work to say you’re deferring “because of the economy.” Everyone is affected by the economy, and if anything, poor economic times are when people leave their jobs and enter graduate programs. Additionally, a side effect of this recent crisis has been that the US Dollar has become a lot stronger. A lot of Americans can now afford to come to LSE more so than they could 2 years ago when the economy was booming. If you want to try this approach, I’d emphasize the personal economic factors that are affecting you (i.e. if you just lost a job or are having to support others financially, etc). The macro turmoil affects everyone and it will be unlikely to convince them that you have a compelling personal reason to defer.</p>
<p>That said, if you really don’t want to come to LSE next year or are unhappy with your program, I think it would be pretty safe to just decline the offer and re-instate your application again in the next cycle. Admissions to LSE (even in postgrad) is incredibly numbers based and standardised – if you’ve been admitted to a program once, you are likely to be admitted again because your academic record likely won’t have changed much if at all. One of my friends was going to come last fall, but she was a little apprehensive because her first choice program had closed and she was admitted to her second choice. She waited a year and now has been admitted to her first choice and seems happy about it. Additionally, applying earlier in the cycle always helps. If you want to be extra careful, you can include a handwritten note to the program coordinator and explain that you’ve had to decline this year but are planning on re-instating your application in the fall.</p>
<p>Generally, although these are tough economic times, the LSE Career Center seems to be doing well at placing students at top consultancy firms, i-banking jobs, etc. I am studying Politics and Communication, though, so I kind of only know this second hand from talking to friends. But the good reputation that LSE has with employers is very true and still exists.</p>
<p>Personally, I would not defer due to the economic environment unless you already have a job lined up or are very, very sure that you will secure employment. I currently work at a multinational management consultancy firm, and the firm (like it’s competitors in the industry) is hiring very few individuals right out of undergrad and/or without previous consulting experience. Their focus is on strategic hires, individuals with graduate level education with significant subject expertise, and/or individuals with significant targeted work experience. My feeling is that individuals with a masters education have a better chance of being hired. Just my opinion.</p>