FT at a 2nd Tier BB (UK) vs Master at Top School (USA)
I have a return offer to start working in S&T in London. I am planning to apply for MFin/MFE programs at top schools (UChicago, MIT, Stanford) in the US. I feel like my undergraduate studies in physics at a top school in the UK (Oxbridge) hasn't taught me enough to give me a real edge when it comes to trading. I eventually want to move to the buy-side and want to have a few more relevant quant skills (ML, Stochastic Calculus, Portfolio theory).
Also, another consideration is the US vs the UK. The UK seems a bit like a sinking ship lately. The salary isn't really that high (60k), taxes are really high (getting higher) and everyone seems to be on strike. Is it worth taking the risk as an international student?
Pretty difficult to get visa sponsorship in the US as an international
Also you’re thinking ahead of yourself, see if you even get a strong offer from the unis first
Can see where you're coming from but you're losing a ton of certainty in the UK to go to a country which is less receptive of giving internationals jobs in the middle of a recession.
That said, kind of sounds like you know what you want to do because, and I say this respectfully, you're kind of clutching at straws on some of your reasoning for leaving the UK opp. Salaries aren't as high as US but you should've known this for years now because it has never been different. Taxes are high and this is a valid point if you have geographical mobility but not sure where you're getting the idea they're getting higher. Strikes are in like 3 industries and don't really affect you. Every country with unions has strikes. Imo the UK is not in a fabulous place but if there's an industry they're going to fight tooth and nail to keep, it'll be financial services.
Regarding the other things, can't really comment but I'd just question whether you need a whole degree to study those things you want (you might, I have no idea), since opportunity cost of that masters will be quite high.
Yah, the recession is the main thing that has me worried.
Regarding the education bit. I'm not sure whether having no formal finance education is a good thing. I interned at the Fixed Income desks at this BB over the summer and the modeling used by these guys was very rudimentary (can easily be automated). When/If a lot of trading mainly becomes systematic (like it has for equities) a couple of years down the line, I'm not sure if I will have any real skills (other than PowerPoint & intutition) that will help me get a new job.
Regarding the taxes, Sunak plans to bring the 45p threshold to 120k :(
I'd argue that having no formal financial education is a great thing. Finance conceptually is not that hard... Thats why no one gives a shit what bachelors you do. They're not idiots, they make the hiring requirements (or lack thereof) for a reason. Even if you have a formal finance education, that still doesn't give you any real skills. Those come from experience. And I'd consider a physics degree a much more real degree than a finance one anyway.
Regarding fixed income automation, I'm not in S&T but I highly doubt we're there yet. Considering there are still parts of equities S&T that are not systematic, I think Fixed income is a little while off. Respectfully, I'd try to avoid thinking you know too much about what you're talking about because there's just always stuff you don't know. Not really sure what PowerPoints has to do with fixed income S&T haha.
Bro you went to Oxbridge and have an offer from a BB. Most would kill to be in your position, and you are literally teed up for a stellar trajectory. Perspective.
Relax and take the job. Can do an MBA later if need.
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