Cambridge Part III Stats vs Imperial MathFin?
I'm a macro trader with 4-5Y experience at a BB bank, looking to pivot into Quant Trading. For various reasons I have decided to do a Masters next year and apply for grad full-time roles.
Currently debating between Cambridge Part III Stats and Imperial MathFin - the main objective is to get through CV screening, so was thinking Part III might look better. The "downside" is that I expect it to be a much harder course, and not sure if the extra effort is worth the marginal improvement in appeal.
I'm confident in my ability (undergrad was Cambridge maths with a first) but going back to studying after 5 years might be tough! Given my circumstance however - was thinking it might be a safer bet since I might be a bit disadvantaged vs a typical grad (look too experienced/hard to train etc.)
Would appreciate any thoughts. I also considered Oxford MCF but it looks very expensive
Based on the most helpful WSO content, here's what you need to consider:
Cambridge Part III Stats: This program is highly prestigious and recognized globally, especially in quantitative and mathematical fields. Given your background in Cambridge Maths with a first, this would align well with your academic strengths. It will likely stand out on your CV for Quant Trading roles, as it signals strong theoretical and technical expertise. However, as you mentioned, it is an intense and rigorous course, which might be challenging after a 5-year break from academia. If you're confident in your ability to handle the workload, it could be worth the effort for the added prestige and appeal.
Imperial MathFin: This program is more applied and directly tailored to financial markets, which might make it more practical for transitioning into Quant Trading. Imperial has solid placement in London finance roles, and the course is known for being rigorous but not as theoretical as Cambridge Part III. It might be a smoother transition back into studying and could still provide a strong boost to your CV.
Key Considerations:
Oxford MCF: While it is a strong program, the high cost might not justify the investment compared to the other two options, especially since you already have a strong academic and professional background.
In summary, if you're confident in handling the rigor and want the added prestige, Cambridge Part III Stats is a safer bet. However, if you prefer a more applied and industry-focused program with a smoother transition back to studying, Imperial MathFin is an excellent choice. Both will serve your goal of pivoting into Quant Trading effectively.
Sources: https://www.wallstreetoasis.com/forum/school/uk-master-in-finance-advice?customgpt=1, MBB vs Quant at IBank, https://www.wallstreetoasis.com/forum/school/dilemma-quantitative-finance-vs-finance?customgpt=1, Profile Evaluation: MSc in Finance at LBS, LSE, Imperial, Said or MIT, HEC Paris / Cambridge / Imperial
I can only share my two cents based on what I have heard about Imperial's program which is nicely summarised here if you have not heard of QuantNet before: https://quantnet.com/uk-rankings/
Overall, I think both will get you interviews at the grad level so I think the focus should be on what will be most useful for the role and interviewing. I would say the larger stats focus on the MASt course would better there.
Hi, may I ask why did you want to change to the quant trading track from macro trading at a bank? Based on what I've understood as long as the macro product is flowy, if you are good at taking directional bets you can still make huge money and change to a hedge fund / pod to be a pm. Is this track not better than quant trading?
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