Hi,
I intend to apply for MSc Finance in LSE and need to write a personal statement.
A personal statement that describes your academic interests and your purpose and objectives in undertaking graduate study. If you are applying for a master's or diploma programme this is your opportunity to introduce yourself to the selectors. The world limit is 1000-1500 words.
English is not my first language so can I please receive some feedback on my writings? Any suggestions on ways to develop my personal statement is more than welcome.
Thanks in Advance.
Here it goes:
The reason I chose BSc Economics, Finance and Management as my undergraduate degree in Queen Mary University of London was that I had keen interest in understanding the behaviour of agents: people and firms in an economy from various perspectives, namely: economic, financial and managerial. Global economies are changing rapidly; there have been shifts in the power from the west to the east. Whether we believe it or not we are all affected by this transition. Hence I believe it is the perfect time for me to deepen my knowledge in finance, as it is the financial sectors that are playing important and influential roles in changing global economies.
I became extremely interested about finance during my second year when I had to deal with two finance modules; Financial Markets & Institutions (FMI) and Capital Markets. While the former taught me about the complex structures and operations of different types of financial institutions and their instruments, the latter provided with a rigorous training in the theory of investment and capital markets and showed how firms, individuals and institutions take decisions about optimal investment, and to examine the behaviour of the capital markets in which these decisions are taken. I am always keen to learn more about finance so I have picked more finance based modules in the final year of bachelors. I picked two Corporate Finance modules, hoping to enhance my understanding of finance by means of capital budgeting including investment decision rules and risk management and capital structure including the Modigliani-Miller theorems, optimal capital structure when taking taxes and bankruptcy costs into account, corporate governance, asymmetric information-related topics and mergers & acquisitions.
Microeconomics might be a possible explanation of my keen interest in finance as both microeconomics and finance revolve around a common phenomenon- solitary decision making. As I came across a couple of accounting modules I realised the fact that fields of accounting and finance are closely interlinked in the sense that quite a handful number of financial decisions are taken based on the financial statements of firms. In other words, my accounting modules have helped me to a greater extent in understanding finance through various numbers of ratios and financial statements.
Financial analysis requires rigorous data analysis and bearing that in mind I have decided to go for an Econometrics module as well; so as to master data analysis through extensive usage of different kinds of linear regressions and the Eviews software. In addition to that, two of my previous statistics modules have also provided me with opportunities to learn about hypothesis testing and time series analysis, which I believe are of significant importance in terms of data analysis. My undergraduate degree thus exposed me to various situations which required quick decision making, innovative thinking and of course finely honed analytical skills. All these factors helped me to create a very strong foundation, capitalising on which I intend to pursue an MSc in Finance as my postgraduate degree.
Due to my interest in finance I have successfully accomplished an internship in Bangladesh. It was in Grameen Bank and my experience regarding Microfinance was far more than enlightening. I experienced how the total Microfinance system works from the very root level and what are the complex financial procedures and statements the bank uses. As a part of the internship, all the interns had to go for a village trip of one week to experience the first hand field work of the bank. Here I not only acted as the team leader of a group of fellow interns but also carried out the role of an interpreter to overcome the language barrier, since all of them were from Europe. Accordingly, I learned more maturity and fully understood the significance of being responsible for given tasks, including working with a team to provide desired results.
This internship experience gave me an insight so as to how finance can be a very strong weapon to overcome poverty and to change the lives of millions of people. My career plan has since then improved: witnessing finance as a tool of providing viable solutions to different individuals according to their needs made me realise that I want to work as a solution maker instead of a solution taker. Initially, I want to start as an analyst in a firm that specialises in finance and investments, as within the field of finance I am most interested in portfolio management. Thus, this would be the best position for me to implement my academic skills and subsequently by getting an overview of the financial field it will be much easier to make the specialisation decision later. Regarding my long-term goal, although it is difficult to predict the future but one thing is for sure: I intend to contribute in the development of the financial sector of my country and hence I plan to take as much financial experience as I can from London, which is considered to be the world's top financial heart, and then to use this as a tool to improve the underdeveloped financial markets and institutions of Bangladesh. Thus, I can not only benefit myself from the knowledge gained from this degree but also contribute to the society bringing about positive impacts. This is where LSE comes in, as I believe the MSc Finance of London School of Economics and Political Science will not only provide me with the perfect setting to understand the world of finance in a meaningful way but at the same time will greatly impact my future career.
The MSc Finance course in LSE combines rigour and relevance; rigour in terms of academic depth and relevance with real world applications. Furthermore, this course will also open up an opportunity for me to learn and share simultaneously different thoughts and ideas of finance with similar or better minded individuals from diverse backgrounds. Thus, requiring me to take up various diverse roles, which I believe I am capable of. I am always intrigued by the wave of challenges faced in adapting to a new environment and was very enthusiastic about my undergraduate degree in London. Apart from adjusting to a second new home, I balanced studies and other responsibilities in my department to make my stay worthwhile and consequently developed my organisational skills, adaptability skills and realised my flexibility in relocating to a new home and different style of living. The pressure of studying in Queen Mary was never an obstacle in my way to take part in extracurricular activities.
Representing my department to all the international students from Bangladesh through the International Student Ambassador (ISA) scheme gradually taught me to be concise and coherent, thereby flourishing my communication skills. In addition, being a student helper in my department allows me to act as a mentor for the first year students and to discuss viable solutions to any problems they face, even if it is the smallest one: this position is working as a bridge for the first years to learn from my academic and non-academic experiences of London. I am not only a helper to the students but to the university as well. My responsibilities also include helping the School of Economics and Finance in Queen Mary on open days and many other events; to give an example, I was a helper in a lecture conducted by Lord Richard Layard from LSE, which was purely based upon "happiness". He is right; we should be happy with what we have rather than desiring more to be happier. But then again, human nature is insatiable.
Considering myself as a result driven person I always strive to succeed; my average mark increase of 70.6% in year 1 to 74.5% in year 2 is working as an incentive for me to achieve higher scores in my final year. Unsurprisingly, the highest marks that I have scored up to now are in modules that specialise on microeconomics and finance, making me an appropriate candidate for the MSc Finance. All in all, through the international student experience in London I not only developed myself as a responsible individual but also became independent in terms of my goals and choices and I truly believe this is exactly what LSE expects its students to be- independent thinkers.
Simply put: I see the MSc Finance of LSE as a stepping stone to fulfil my goals and ambitions, it will surely be a privilege for me to enjoy the LSE experience. LSE is definitely my first priority and I can guarantee the fact that this thirst for achieving the very best will never end.
Hello,
you mentioned "Due to my interest in finance," "My keen interest," "Corporate this," "Corporate that," wayyyyy too much in this statement of purpose. You really need to simplify this statement and streamline it. There is way too much clutter or "noise" in this essay. For instance you write "Financial analysis requires rigorous data analysis and bearing that in mind I have decided to go for an Econometric module as well; so as to master data analysis through extensive usage of different kinds of linear regressions and the Eviews software." -- Do you really think that enhances your statement at all? LSE staff know that Financial Analysis requires rigorous data analysis. There is no need for you to remind them of this. Think of your essay as prime real estate. Every word should be impactful. Ask yourself - Does this statement bring value? If you cannot answer with a definitive YES you should remove it. As for this statement simply state a little about your background and then what you wish to gain from this program. The use the last portion of the essay to connect how LSE will help you achieve this desire. Speaking in circles (as you have done here), will only confuse the reader of this statement. Keep it clear and focused. -AAO
Hope this helps
