Masters in Mathematical Finance
How helpful would it be to obtain a masters in mathematical finance or masters in financial engineering to become some type of trader. I am currently in my undergrad and want to trade something like commodities or derivatives. How helpful would a masters from a top university help me to get a job at a prop shop or hedge fund that trade stuff like this?
This is one of those unquantifiable questions, for which there exists a lot of good information via the search bar or google...
It'd certainly be helpful, especially if your undergrad recruiting opportunities are limited.
I'm currently in the same shoes as you. From the research that I've done so far looking into firms (for the most part prop shops) and what candidates they look for, a lot of them have internships specifically available for students pursuing a MS or PhD in a quantitative field. And for FT positions, having one of those said degrees can sometimes act in lieu of actual work experience.
That being said, I'll probably end up applying to all sorts of FT positions along with grad programs just to cover my bases, but i'd choose a program I truly enjoy. I don't think doing a grad program just for the sake of trying to get a trading position would be the wisest option in case you don't get a FT offer and then you're out a good chunk of money and time.
studdard, this is getting ridiculous, you have literally posted 20 threads on this exact topic. give it a rest. enjoy "missouri university"...ugh.
You'd be better off doing graduate work in general math as a hedge to not being able to get into finance - these mathematical finance/financial engineering programs are really just big profit centers for universities. The street is flooded with quant types - I have PhDs routinely applying for entry-level trading positions.
this is the truth. i looked into getting an MFE. realized it was stupid compared to getting a real math centered engineering degree, since you cover the same breadth of topics with a broader understanding of the underlying principles.
protectedclass.....get fucked, and ummm I think I go to Mizzou so I would know what to call it. Every website or anything registered under Mizzou has their little "MU" stamp at the top left of the page. I wonder what MU could stand for.... So I think either using Missouri University or University of Missouri are fine with the school. Also how does me posting many topics over the same subject inconvenience you at all? Your just inconveniencing yourself by writing worthless stuff on my post. It looks like some other people got information from this post. So therefore you are dumb.
We have given you the correct information in every single one of your posts. You are obviously too dumb to follow it. To be a trader, you have to be 1) decently smart and 2) a quick learner. You have shown with posting the same thing over and over again that you are neither. Good luck with your career, as the only way you will ever trade anyone's capital is if you plunk down 10K and join an arcade.
And for the last time, my dad, my grandfather, my great grandfather, and my sister are Mizzou alumni. It is not called "Missouri University" by anyone except KU fans when they are making fun of MU, and actually it is written in Missouri state law that the Columbia campus be referred to as "The University of Missouri". Personally, I hate Mizzou, but it makes you look a jackass, so I tried to help you, but once again, you dig yourself even deeper into looking like an idiot.
There are dozens of trading firms and hedge funds that provide an entry level trading position that doesn't require any sort of graduate degree. Most firms have a year long training program, during which you're an assistant trader or a trading analyst; upon successful completion of the program, if they like the work you did, you'll become a full blown trader. At some of the better firms, you're paid a salary even as an assistant trader, even though presumably, you know little to nothing about trading. Some trading firms like Jane Street will pay you a salary of 100k to essentially learn trading and eventually trade their money. There are several others, with similar salary potentials. You would need to be unbelievably strong in math to get hired by these firms. Other firms will have entry level positions for quantitative analysts, which will usually encompass a larger programming component. These are also available for applicants with only BS degrees.
Okay so if you guys are saying that it may be better to get phd in mathematics, then what are some of the top programs for these types of programs.
Getting a PhD in mathematics takes a lot of time and you really have to love math. The best programs are Harvard, MIT, Stanford, Princeton, and Berkeley. Prob&Stat and/or PDE would probably be the most applicable fields. However, Berkeley says the median MFE graduate made $144,000 in their first year in 2011. So why the PhD?
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