MSc in Economics to get into S&T
Hi everyone, hope you all are doing well.
My question is: is attending a 2 years Msc in Economics a good path to get into Trading? Since the Master is a quantitative one (a lot of econometrics, calculus, machine learning, stats, programming etc.) and it is focused on macro and microeconomics plus a couple of finance (markets) exams and monetary policy is it a good way to pursue a trading career in Fixed Income/FX given that I should know a lot about macroeconomics and monetary policy? If you have some other trading divisions where you think is it possible to get into let me know and let me know your opinion and if you'd like to see the entire programme too.
Would like to hear some opinions as well.
Anybody?
I think as long as the program is at a target school, you will get interviews. The major doesn’t really make much of a difference as long as it is somewhat related to economics/finance/International Business. Just my 2 cents. I personally got an summer asso offer in S&T at one middle tier BB. Good luck.
Thank you. I was thinking if is it better to get an Economics MSc or a Quant Finance one. If I can’t get into S&T my second option could be apply at the ECB and then (after 2/3 years) try to apply to a S&T position somewhere. Regarding the degree, if I will pursue the Economics way, there is the possibility to do a semester abroad at UC Berkeley, do you think this opportunity could somehow boost my career?
If I have to name some master degrees that could give you a ticket to the secondary-market part of business in BB, Top 10 quant finance degrees are good ones. Banks nowadays love to hire people from these programs as quants or quant trading guy within s&t. Among all types of quant roles, I hear a quite amount of desk quants switch their role to trading side internally even if they don’t start trading in the beginning. For the primary-market business such as IBD, ECM, masters don’t help much because your undergrad background dominates the competition in job hunting. Basically these are the situation in NYC. If you want to try Hong Kong, then the requirement for your university background is less harsh and most ivy school masters would be able to earn you interviews in ibd and s&t.
Personally, I think it’s overkill and this is how I would explain it: it’s like thinking a degree in Nutrition will get you drafted by an NFL team. Its a nice complement to have but it’s not the reason you’re going to get into S&T. I do think that you should go for it though because a Masters degree is useful and will strengthen your CV worst comes to the worst. I would also say however, that a degree of this kind would be more useful in applying to a research division, both buy- and sellside. Also, working for the ECB and S&T are two vastly different goals, the former would also be a better fit for this type of degree
Ok pefect, thank you. So you think that a MSc in economics may be better for work in a research division (like Goldman Global Investment Research?) or for the ECB, right? And regarding the Quant Finance one, is it a good degree to work as a trader or should I look for something different?
I think both economics and quantitative finance as masters degrees are better suited to prepare you for research and other analytical roles. Sales and Trading is immensely “hands on” and while a Masters in these subjects will grant you far better knowledge than most in these seats, it will do very little (if anything) to prepare you for the day to day which is (sadly) what people are more concerned about when making junior level hires. Also, a key difference between these and the classic MFIN is the perception people have the different masters programs. An MFIN for the most part is undertaken by kids straight after their undergrad or 1-2 years removed and is characterized by candidates of a younger age and serves as a stepping stone to getting into any finance related role. An economics and quant fin master is, from my understanding, much more focused and seen not as a stepping stone, but rather as a goal in and of itself. Also, I would assume the age range of candidates to be more spread out. Due to this if you do get interviews I guarantee you the first question you will be asked is “if you want to get into S&T, why did you pursue this course and not an MFIN?”. These will be perfectly good for landing in research, at a fund or at the ECB but I wouldn’t put all my eggs in this basket if your true goal is S&T
Omnis tempora culpa dolores dignissimos nemo quo id et. Neque beatae adipisci eligendi id omnis reiciendis voluptate ullam. Qui nulla illum quas at officia qui. Sint architecto molestiae molestiae qui consectetur.
Fuga cumque temporibus sit placeat sed porro. Qui et qui deleniti ducimus et eaque. Blanditiis quo veniam et laboriosam tenetur omnis rerum sit. Dolorem ut at temporibus sequi placeat.
Voluptatem numquam velit iste laudantium. Numquam nihil dolores natus quae vel. Earum qui consequatur corporis aut voluptatum hic. Maiores perspiciatis fugit earum qui quis eum. Quam magnam fuga est.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...