Dear Sirs,
I am an italian 27-year-old engineer with 3 years work experience in an engineering company in Italy.
I am really looking for a career change and I have always been interested in finance.
I would like to have your advice on whether to pursue a MSc in finance (2-years) or an MBA (1-2 years), in order to break into a finance role at my "old" age.

I must underline that obviously I have no experience in finance industry so far.
Any suggestions welcomed
thank you in advance

Take a first class MBA. You will be able to take all the courses that a MiF would include, but also an MBA would give you core business classes and access to much higher level internship and recruitment opportunities. MIP and Bocconi are okay but if you can, get out of Italy. This might be useful: http://www.find-mba.com/board/33571

Look at Insead and LBS, and also Harvard, Columbia and MIT.

Duncan, thank you for your prompt response.
FindMBA is really wonderful for prospective MBA applicants, my compliments!!!

My indecision was mainly based on the fact that MiF or MiM have lower fees compared to an MBA, which I can afford without getting massive loans, whereas an MBA would require me to take out a loan for a substantial amount of the fees.
Nevertheless, I am aware my age is well beyond the average for a MiM and MiF program.
In your opinion it would be hard for me to find a job (especially in finance) attending this kind of programs (MiM and MiF), given my age and background?

Thank you once again
Paolo

You get what you pay for. Compare the salaries for MiF and MBA graduates from the top schools. MBA degrees pay for themselves quickly, and that is why it is so easy to borrow for them.

I think a MiF would find it easier to place you than a MIM but, even so, with your experience an MBA with a serious finance pathway would give you a better return. You will be an attractive candidate for MiFs so use the FT rankings.

Just to add to what Duncan has said - when you are looking cost you should really look at the kinds of salaries you'll get when you exit and do the math. For example, NYU Stern grads who go into finance/investment banking/private equity roles make at least $100k per year on average.

That's compared to a ranked masters in management program, like the one at Imperial, which is good, by the way, but graduates make about 2/3rds of the Stern figure - which as you probably know doesn't go a long way if you're in London!