Is it worth it for me to get an MFE ?
Background about me:
I started as a software engineer at a BB this year, but after learning more about the industry I would be more interested down the road as a trader. I'm not sure though if I can make the switch internally, and I've been wondering if an MFE is a good investment. I had interviews at prop shops (DRW/CTC/3Red) but essentially got trashed on the on-sites because I failed to prepare adequately. I also looked at the pedigree of the trading analysts at my bank and their caliber in math/quantitative finance doesn't seem to be anything stellar. With that in mind, is it a good investment to get an MFE? I am thinking about going for the CFA to enhance my finance knowledge, but it isn't going to build my quantitative knowledge. I also had done one of those online quant competitions (like Trexquant) and performed enough to get a part-time offer, but I already started working so I cannot accept or put it as work experience. I definitely find what I struggle with is insecurity, which is probably not a desirable trait for a trader. With that, there are a few points I would like to have addressed:
- What makes a trader successful and will the MFE distinguish me when compared to undergraduate trading analysts?
-Would MFE help more for buyside/sellside trading? What traits distinguish the two? I notice that more MFE's get hired to sell-side trading
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Is it just better off for me to get an MBA? From what I know, computer science majors are definitely seen as a more positive. A good MBA more than likely also has a higher salary than a top MFE. I often see people in quantitative finance switch over to startups.
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Would credit, risk, or structuring be a better career path for me? What I am concerned about is that companies can hire quants at the PhD level, but as a trader if I improve my quick-thinking skills/insecurity then I possibly might make more of an impact as a trader.
MFE is more suitable for risk management roles, rather than traders, quantitative researchers or quantitative developers.
Then what degree usually fills researchers or developers? I'm also trying to understand how a graduate degree might separate a trader from one that only has an undergraduate degree
Quantitative researchers typically have advanced mathematics degrees, whilst quantitative developers have advanced computer science degrees. However, both roles would need good crossover knowledge in both.
Remember - these are very lucrative and difficult roles to get.
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