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.
Bump. I want to see answers to this.
I am facing similar dilemma. Pls can someone throw some light here?
Ultra bump
MFE is highly regarding more of a critical thinking degree. Candidates stronger in math.
MFE Worth it if Already Have JPM SA Internship? (Originally Posted: 02/11/2014)
Hi guys, last month I accepted an internship offer from JP Morgan Sales and Trading, but since I'm on track to graduate a year early from UG, I also applied to some MFE programs. I've gotten interview offers from two of them so far, but now that I have the SA internship, it seems like it might not be worth it, especially with the cost. For example, the MIT MFin program costs 100k for just one year.
What do you guys think? Would appreciate any insights.
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.
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.
Masters in Finance / MFE as a way to kickstart career - Chasing a pipe dream? (Originally Posted: 05/14/2012)
I am a corporate banker (6+ work experience). Have worked with a few big name banks, but recently quit because I was bored and my career seems to have been derailed.
I am looking at getting into IB / Asset Management - of course, into the top firms (who doesnt?). I already hold a management diploma (it s the equivalent of an MBA). Being from an Asian college, it doesnt have the cachet of a US / UK school, but is still well regarded.
Would a Masters in Finance or MFE help me move my career along? Or am I chasing a pipe dream?
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.
^sorry just to clarify. so MFin/MSF = good for S&T?
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.
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.
Quant MFE Opportunities (Originally Posted: 06/17/2016)
Hey guys. I am an Applied Math and Computer Science major from a large-medium state school in North Carolina with a minor in finance. I am almost done with my degrees and was wondering about a few things.
GPA total: 3.675 GPA majors: 3.8
I also have a few personal projects of mine that deal with mathematical analysis of investments and instructor recommendations.
1.) Would an Master's in Financial Engineering be a solid bet for getting a quant position? If so, from what schools?
2.) What are any viable alternatives to an MFE degree if one desires to become a quant? I heard PhDs and Masters in Mathematical Finance or Applied Math are good substitutions. Can anyone confirm?
Bump
Does MFE (Masters in Financial Engineering) help in getting a job in IB? (Originally Posted: 01/02/2008)
I am major in Computer Science and have working experience in IBM. I think the background will help if I apply for a MFE. If I want to get a job in IB, typically say buy-side trading, is it more valued than a finance master degree from B-school? (MFE is not from B-school in some colleges)
buy side trading is not IB. trading in general is not IB. If you want to be a trader then MFE will help you get a quant trading position.
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?
nvm, just realized the thread was from 08... lol sorry...
could anyone help me? I just have questions about MFE graduate programs.... (Originally Posted: 03/06/2012)
Hi,
I am currently a junior at an average college (ranking within 100) with double majors of Math and Finance, and I really want to go to the MFE graduate programs directly. Can anyone that is currently in the program kind of help me out here? I just want to see where I stand.
Here is my information:
Cum GPA: 3.8/4.0 courses taken: Math: real analysis I and II, abstract algebra I and II, ODE, game theory, multivariable calculus, linear algebra, number theory, object-oriented computer programming, stats I am planning on taken stochastic process and PDE Senior year first semester. Finance: international financial management, investments, corporate finance I will be taking options and portfolio management senior year first semester.
Internships: I had two interns with two large banks in China ( I am an international student from China), but they are very general ( one at sales department and one at international banking department). And this summer I will be interning at a pension fund in Chicago, working at Asset Management.
Please can someone just help me analyze what is my chance of getting into a good MFE program? such as CMU, NYU, columbia and cornell? I will really really appreciate any advice; I am just getting so lost regarding graduate schools and I am panicking over the fact that I do not have a place to be after graduating.
Thank you!!!
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.
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?
Looking to get MFE in New York, need help! (Originally Posted: 03/13/2014)
So I graduated with an Economics degree in December of 2012 and I've been working as a budget analyst ever since. I want to get into the quant field so I've been studying for the GRE to get into grad school for a MFE degree.
I've been looking at Stevens Institute of Technology in NJ which I heard was a decent engineering school but they have no minimum requirements for the GRE which is kind of tough.
Can anybody recommend any other schools in the NYC area or even any online degrees that are worth it (don't think there are any but I'll ask anyway).
Thanks!
Baruch comes to mind
Also Columbia, NYU Poly
If you can get into Columbia go there, else just go to Baruch
Yeah my biggest issue about some of those schools is the price. The only one that's "affordable" is Baruch and their acceptance rate is ridiculously low.
I'm guessing you want to be a quant?
How useful is the MFE for non-quant and trading roles? (Originally Posted: 04/03/2010)
Is there any point in getting an MFE if you don't want to be a quant or trader? More specifically, what are the benefits of getting an MFE if long-term you want to work in investment management as a financial analyst or portfolio manager? I'm especially curious when it comes to the usefulness of the MFE for investment management roles in fixed income, because I've heard that fixed income is more technical than other areas of finance; so I'm wondering if that means a finance degree heavy on the quantitative stuff is pretty beneficial?
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.
bump*
Oxford MFE for career changes (Originally Posted: 05/11/2012)
I just got an offer for Oxford's MFE program. I'm lawyer who is looking to move into economic/financial research. I don't have related experience and I am almost 30. Given the shitty economy and my non-trad profile, I'm not sure whether i should take the offer. Can any one here with more familiarity with the job market and program give me some advice? Thanks!
bump
im in a similar boat, applied round 3, interview coming up. from what ive read though, the program has top notch placement for finance. i dont think you can go wrong with it.
what kind of WE do you have?
check your pm box
mfe to ibd (Originally Posted: 11/13/2010)
Can master in financial engineering grads get into investment banking department aka m&a non-quant jobs?
Hope not, too much competition is risky business for us non-quants ; )
MSF tends to be a better fit. I am sure you could probably spin your story to make an MFE fit, but you would be pretty bored in banking if high level math and programming is your passion.
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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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