How is MFE valued and what are potential career paths of a MFE in long-term?

Recently, I have been admitted to Columbia MSFE program for upcoming fall. However, as I was preparing for the program, I realized that I do not enjoy coding so much. I can do it if I want to, but I do not foresee myself doing it for next 10, or even 5 years.

Also, I have seen a lot of posts saying that MFE is not regarded as highly as MBA is in the financial industry because they usually are not in the front office.

What I was hoping to get out of MFE program was to find a job that lies somewhere between IBD and quant roles. A mix of quantitative work with decent interactions was what I am looking for. To give you a better idea, I took CFA Level 1 exam and FRM Level 1 exam in the past, and I really enjoyed learning various concepts for the CFA exam.

I am debating on whether I should pursue a MFE degree or not. I do not want to pursue a degree solely for its brand name and realize later that I do not like any type of work MFE offers upon graduation. That will be a dead end for me. Because MFE is so specialized, I need to make a very cautious decision.

If anybody can share how MFE is valued in the street and where they can work in the long-term based on experience or an anecdote, it would be truly appreciated. Thank you so much.

 

If you'll be happy at JP S&T, then hell no don't do any extra school. If you want something else and think an extra year will help, then that's a conversation.

“Success means having the courage, the determination, and the will to become the person you believe you were meant to be”
 

I still think an MFE is a card best played after a couple years of school for a transition to the buyside.

I'm not sure MIT will get you a better job that JPM S&T if you want to be involved in the markets. MIT is a selective program and you very occasionally see MIT place at hedge funds, but you need a program like Columbia, Princeton, or CMU to have some assurance you have a good shot at the buyside or a better role than JPM.

I say preserve your options. Cash gives you options. JPM gives you options. Having the opportunity to go back for a graduate degree gives you options.

Take JPM. Work your butt off this summer. If you hate it, try to lateral over to portfolio research or land a job at a hedge fund.

 

Well, congrats, getting an internship at JPM is really tough to do. But converting S&T internships to full-time is also tough. It can also depend on exogenous factors. So I would suggest continuing with the admissions process. Tell schools you have this awesome internship- it will probably boost your chances. Schools may allow you to defer if you get the full-time opportunity. Presumably, if you were competitive to get admitted with no work experience, you will only be a stronger candidate with a couple years of S&T experience under your belt.

 

Can't speak to an MFin, but I can tell you that a MFE won't help much with IB. S&T, definitely, and it can't hurt with AM/HF (quant ones in particular).

With that said, for an MFE, you will need a certain background in math/statistics to be able to get in and do well in the program. If you post some academic stats and list some math/stats coursework, I can give you an idea of what schools you're competitive for.

-MBP
 
Best Response

I would suggest going for either an MBA or MFE. An MBA would strongly position you for the more people oriented roles found in AM/IB/PE/Consulting/F100. An MFE would position you the quant side S&T/RiskMGT/QuantAM.

In my opinion, an MSF is more of a middle ground between MBA and MFE and doesn't strongly position you in either. MSFs focus on hard-core finance/statistics while not getting into the leadership oriented parts of an MBA or the Stochastic Math/programming skill sets of an MFE.

At your stage in the game, you really should chose one path or another rather than a muddled path to send a strong brand message about your skill set and aspirations. Also, I don't think completing a top 10 US MBA program would be a step backwards because it will give you the opportunity to realign your career.

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xatanic666, a MSF can definitely help you break into banking at the analyst level, but with 6+ years of experience I think that you have too much experience for an MSF, and you'll be way overqualified for any recruiting opportunities out of the MSF program. At this point in your career the MBA would suit you better than a MSF would if you wish to rebrand yourself and transition into banking or asset management. Do your best to crush the GMAT and get into a top MBA program.

 

with your computer science background, a masters in Financial Engineering (which is what I plan to pursue after undergrad) would probably get you a position thats programming intensive. I don't know much about getting into IB with a MFE though. But it would get you close.

 

hi,all, thank you for your reply. Just one more question to Closer, what is IB service in general? like Merger&Acquisition,IPO, or other services on the Corporation side? any postions on the financial market side?

 
sayandarula:
you sound pretty competitive. have you taken the GMAT yet?

I plan to take GRE, because all the MFE programs want to see GRE. I am planning on taking it this summer and early fall, like October the latest. I am not that worried about the quant part since I am already a math major, but because I am a foreigner, I get terrified by the verbal sections.

 
balladechina212:
Why not Princeton? I don't see it on your list.

Oh Princeton and MIT MFin programs are definitely the top of my list of graduate programs, but I am really not that confident whether if I can get in. I sure will try to apply, but I just don't want to set my expectations too high. Do you have any advice regarding the Princeton program?

 

fixed income is a very broad field it can be both fundamental and accounting-based (i.e. 'high yield') or highly quantitative (i.e. 'structured credit'). Education-wise you should study what you enjoy and will do well in.

 

Princeton's MFin is in the nether regions of the MSF. Too much math to be a traditional MSF, not enough programming to be a MFE.

Amazing placements, top tier program though. The best MFin in the USA.

 

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One of those lights, slightly brighter than the rest, will be my wingtip passing over.
 

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