Kamilla Bakhtieva is in her second year of study for a master’s in Financial Economics at ICEF and earned her bachelor’s from HSE Faculty of Economic Sciences. Topping the ranking of the best performing master’s students, Kamilla is often asked to grade students’ math homework. Here’s how Kamilla chose her master's degree, what she thinks about combining work and study, and what applicants need to be aware of in order to successfully complete their master’s.
Before enrolling in master’s programme
As a student of HSE Faculty of Economics Sciences I had been aware of ICEF and its international degree programmes, and that its master’s degree enjoyed high rankings in its academic field. When it was time for me to choose my master’s programme, I focused on what was available at NES and ICEF. One reason I opted for ICEF was my winning the academic contest Higher League in financial economics, which made me eligible for fast-track admission.
I was one of the strongest students in my class, as was evidenced by my high rating, academic achievements and prizes from Olympiads and projects. Once you have tasted HSE, you will not want to study anywhere else. MSU, for instance, has a system which is very different from the one I’m used to, while NES seems to keep its degrees in finance and economics more academically focused. Going into academia wasn’t really an attractive choice, and because I wanted a business career I thought ICEF would be my best fit.
What applicants need to be good at in order to get enrolled
Good knowledge of mathematics is essential. Many of our courses are highly mathematical, requiring not only excellent numeracy skills, but also a good command of mathematical analysis, logic and algebra. Students with low mathematical background will have difficulty studying the courses such as economics and finance. No less important is your knowledge of economics, for the master’s courses build on the applied knowledge and leave no time for learning the basics. Our first-year courses in macro- and microeconomics, for example, were based entirely on what we learned while studying for bachelor’s in economics. I must say my undergraduate experience had been of great help when I began to explore new topics and models.
What makes this master’s programme special and challenging
One of the obvious challenges is that the programme requires you to have a lot of time for self-studying. The lecturers will, of course, provide you with good grounding, but there’s a lot books to read, seminars to digest, and problems to be solved on your own. The advantage is that you will be able to solve the applied problems of financial nature and gain valuable information on how to conduct economics research, which may come in handy when writing your master’s thesis.
I would note that this is generally a very hands-on programme with many electives that give knowledge of the practical side of finance and economics. Courses like Mergers and Acquisitions, Risk Management, and Data Analysis can benefit you later in your job and are fundamental enough to benefit also those who chose to continue their studies, for ICEF’s master’s programme has among its components multiple scientific seminars, giving students the opportunity to conduct research under the guidance of high-profile supervisors with experience in diverse fields of finance and economics.
How to achieve top rank in class
Academic success is first and foremost a product of responsible attitude.
Excelling in this master’s programme are only those who read all recommended literature, complete all tasks within the prescribed timelines, and get high grades in the exams
Your individual skills and your ability to learn – the latter can be honed and improved with bachelor’s study – will play a role as well. Even if a person spends a lot of time trying to delve into a topic or a task, they may not achieve result because they hadn’t been taught the right approach to learning. In this sense, HSE has honed my ability just perfectly.
Whether combining study with work is worth it
I don’t think combining work and study in your first year is a wise choice. I didn’t. The programme has many core courses and electives to be taken, and it’s essential that you attend all lectures and complete all assignments. Now, in my second year, the courses are less time-consuming, with lectures held on weekdays and seminars on weekends. Most of our second-year courses are electives and are chosen based on our future career plans. I work full-time as an intern in Sibur’s product development.
My job duties deal partly with what I explored academically also as a bachelor’s student – estimating project costs and economic effects. But for the most part they require me to use my analytical skills and general logical thinking skills – the skills that are essential to final decision-making and getting your idea across. When it comes to project reporting, it requires me to exercise my soft skills.
I have little work experience so far – just a couple of internships in audit and taxation and my current role as a product development intern. I have long wanted to get into finance and be a financial and economic analyst at Central Bank, but for now I am in a different field. I like my current duties, even though they aren’t very much related to the degree I’m studying for. I view this period as what can help me finally decide on my career.
Also, as a grader for ICEF students' math homework, I sometimes consider the option of teaching courses to bachelor’s students. I have the experience as a course assistant to lecturers at HSE Faculty of Economic Sciences and had been running tutorial classes.
What applicants to ICEF’s master’s programme need to be aware of
It is very important that you read all materials your teachers give you. Ask questions during lectures and office hours, study scientific literature on your own, never leave assignments till the last moment.
Before you choose to apply for this programme, consider its components and curriculum. Talk to students and graduates, as they already have the experience and can give some feedback on how useful the courses really are and whether it’s worth doing them at all. This programme requires a solid background in mathematics. And since most of its courses have math skills as a prerequisite, it’s wise to improve your math skills while you are bachelor’s student. But you should not panic: year one begins with revision of the basic concepts and everything you need to know in order to succeed in learning fundamental economics courses, although it will not be amiss to improve your math in advance.
