Is a target school needed to be a Quant?
Currently interning, considering masters to pivot into Quant. Based in Europe, but all point of views/universities are appreciated.
The question is very simple, is it better to attend a masters at:
Good STEM but NON-Target uni in a super heavy course in smth like Financial Engineering
Target that offers a masters in quant-like degree (ex. LSE MSc Financial Mathematics or St. Gallen Quantitive Finance)
especially considering these quant degrees at target schools, are these program seen as the second option of those who couldn’t get into their master master of Finance in the first place? And what’s their job placement in High Finance for both the Quant side or the IB/PE side?
Thanks
Based on the most helpful WSO content, here's what you need to know:
Target School vs. Non-Target for Quants:
In the Quant and S&T space, the concept of "target" schools is less critical compared to Investment Banking. What matters more is the technical rigor of the program and how well it equips you with the necessary quantitative and programming skills. However, attending a target school can still provide advantages in terms of networking, brand recognition, and access to top-tier recruiters.
Option 1: Good STEM but Non-Target University:
If the program is highly technical and focused on Financial Engineering or a similar field, it can still be a strong choice. Programs like these often emphasize the quantitative and programming skills that are essential for Quant roles. However, you may need to work harder to network and secure interviews, as the brand name of the university might not open as many doors automatically.
Option 2: Target School with a Quant-Like Degree:
Programs like LSE's MSc Financial Mathematics or St. Gallen's MSc Quantitative Finance are well-regarded and can provide strong placement opportunities in both Quant roles and broader High Finance roles. These programs are not necessarily seen as "second options" to Master of Finance programs; they cater to a different audience with a focus on quantitative and technical skills. Placement into High Finance roles, including Quant positions, is strong from these programs, and they also offer a solid pathway into IB or PE if you decide to pivot later.
Job Placement Insights:
Recommendation:
If you are aiming for a Quant role, prioritize the technical rigor of the program. A target school with a strong Quant program (like LSE, St. Gallen, or ETH Zurich) would be ideal as it combines technical training with brand recognition and networking opportunities. However, if you find a highly technical program at a non-target school that aligns with your career goals, it can still be a viable option, provided you actively network and build your profile.
Let me know if you'd like a deeper dive into specific programs or regions!
Sources: European Master in Finance programmes (pre-experience), https://www.wallstreetoasis.com/forum/school/complete-european-master-guide-for-stquant-position?customgpt=1, Complete European master guide for S&T/Quant position, European Masters Rankings, Are top MFins target programs for Private Equity firms?
I'm from the states, but I go to Northeastern and a few kids get interviews every year at quant firms
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