Masters degree for hedge fund?
Hello monkeys,
I am currently a senior at NYU getting my undergrad degree in finance. I want to work at a hedge fund hopefully as a trader, a quant, or a analyst here in NYC. Should I wait two years and get a masters? what would be better, a MBA or a masters in statistics? or neither? My grades are good enough to get into a target if i choose to stay in school. If I don't get a masters will that bite me in the as* later in my career? How much would the difference be in my pay?
Thanks for all responses.
Quant your looking at a PHD from what I have seen recently on the job market. Trading is more about killing it then your mba.
appreciate it man
Given that Stern is a target...im gonna assume that OCR didnt go to well
I would most likely be able to stay here if i wished. I was just also looking into Sloan and Wharton
MsF vs. MsEcon for Hedge Funds (Originally Posted: 04/04/2011)
To become an analyst/hedge fund manager, which is more beneficial, a Master's degree in Finance or Economics? It seems like economics is very crucial for understanding the market and developing stronger convictions. What would be more attractive from a hedge fund manager's perspective: a CFA candidate level 1 with a Masters degree in Finance or a CFA candidate level 1 with a Masteräs degree in Economics?
Depends on the type of fund. For a macro fund, a master's in econ will be looked upon more favorably. For the more quant ones, definitely a master's in finance.
In terms of recruiting opportunities, a top MBA (HBS/Stanford/Wharton/Booth/Columbia) trumps all when it comes to hedge funds.
Ideal analyst: top tier undergraduate program, CFA (CAIA for HFOF) / or top tier MBA
HF mgrs vary across the spectrum. Depends on the strategy.
Neither of the degrees you provided really prepares you for analyst work at the HF level. Econ gives you a foundation but is just a building block. Terms and overall business functionality of the HF world would not be discussed in either. As far as the MS in Fin goes, again, that's geared more toward the IB / S&T side.
This seems right. If you look at Princeton master's finance placement, the vast majority end up at S&T role at i-banks. Not too many end up at hedge funds.
I know that at wharton and booth this year, they got on-campus presentations and recruiting from paulson, soros, Citadel, DE Shaw, SAC, Bridgewater, AQR, and many more. That is your best chance of breaking into one of these funds if you don't have prior experience.
I would argue that a master's (non-MBA) will do nothing to help you get a job. Either an undergrad from a top school, or top MBA, or a real PhD (like physics from Princeton) - everything else is a waste of time and money
MSF break into Hedge Fund-Please Help!!! (Originally Posted: 12/11/2014)
Recently got admitted by Baruch, DePaul University and Notre Dame (fresh new program since this year), all three are MSF programs.
My profile: 1. double-majored in Finance and Sociology in undergraduate, took 8-plus graduate level Finance courses including hedge fund strategies, investment and modeling classes and quitted for work. 2. interned in a Hong Kong hedge fund for 3 months and a Baltimore based Asset Management firm for 5 months. 3. skills include modeling,valuation and equity research, now self-learning Matlab and SAS, SQL
My Career path is really focused on HF, possibly long/short equity fund but I'm open to others. Is Baruch MSF a realistic goal to break into a shop in NYC? Baruch's reputation is good on street but this program is new. ND is also very new but school brand is pretty good. Really need some school picking insight here, really apreciate.
PS: what skills and qualities are valued greatly in a HF that I can develop and improve during my school time? Really appreciate, any insight is welcome. Please!!!!
I think the best option is Notre Dame. I would not go to either of them, but your best option is Notre Dame.
Perhaps you should message TNA and ask him directly. @TNA maybe you can comment on this.
MSF break into Hedge Fund-program choice (Originally Posted: 12/11/2014)
Recently got admitted by Baruch, DePaul University and Notre Dame (fresh new program since this year), all three are MSF programs.
My profile: 1. double-majored in Finance and Sociology in undergraduate, took 8-plus graduate level Finance courses including hedge fund strategies, investment and modeling classes and quitted for work. 2. interned in a Hong Kong hedge fund for 3 months and a Baltimore based Asset Management firm for 5 months. 3. passed CFA level one, skills include modeling,valuation and equity research, now self-learning Matlab and SAS, SQL
My Career path is really focused on HF, possibly long/short equity fund but I'm open to others. Is Baruch MSF a realistic goal to break into a shop in NYC? Baruch's reputation is good on street but this program is new. ND is also very new but school brand is pretty good. Really need some school picking insight here, really apreciate.
Did you already get an MSF to go along with those 8 grad-level courses?
Do Hedge Funds recruit from MSF? (Originally Posted: 04/10/2016)
Just curious as to whether hedge funds recruit from MSF programs?
Might have some regional ones, but most likely no.
Probably not on campus, but if you're networking I highly doubt it's not possible to get an interview.
I believe from what I understand, MSF serves as an entry level "ticket" to get an Analyst or Associate role in IBD. Hedge Funds do not recruit(?) from newly MSF graduates. It does take some experience and networking involved to land an interview and possible offer.
If not, just cold call and ask. Doesn't hurt to try, right?
Doing a Masters in Mathematics to increase my chances to work in a quant HF (Originally Posted: 05/23/2016)
Hi all, I'm currently working as a software developer in a Fortune 500 company in the UK. I'm looking to change careers into finance, specifically in a quant HF - I've applied through a recruiting agency and I already had an interview with a London based fund (passed first round, not second one unfortunately), and I'm lined up for another interview with a different fund. A few months ago I applied for a masters in mathematics in Cambridge and I've been admitted (my first choice of college wasn't one of the popular ones so I got a place there easily). On my interview I felt that, from the programming side of things, I am quite solid, but I feel my weakness was mainly on the maths questions and I feel like maybe quant HFs are generally looking for more mathematically adept people than myself. Do you think I should do the Masters and try to find a job after that, or should I just continue re-applying, keep my current job and educate myself on my own in all the relevant topics (I know which ones they are)? Pros of the Masters include: Cambridge sounds nice on paper, networking with people who will also end-up in finance in one way or another, and obviously gaining a depth of knowledge I wouldn't have the time for if I was working. The negatives are quite big though: uncertainty, no income for a year.
I would go with the Masters. Not only for the impressiveness of the extra degree at Cambridge, but because the skills you pick up will be helpful not only in passing the interview process, but for on the job as well. Most people in the quantitative hedge funds seem to have degrees in higher education unless they were absolutely stellar coming out of undergrad
Masters in Financial Engr -> IB/HF? (Originally Posted: 06/14/2007)
Hi everyone I have 2 yrs exp in an actuarial analyst position. Very strong quant background, Ivy undergrad, 780 GMAT Is the MEng Financial Egr a good way to break into IB? Or am I better off going for an MBA?
Also would I start as an associate or analyst? (after a MFE) thanks
MFE would be much better suited if you were looking to go into derivatives trading/structuring/a quant-focused hedge fund.
i agree with jotah
and why do you want to get into ibanking with your talents? hours are better and pay can be similar or better in trading/structuring/hedge fund, and the MFE have excellent placement records into those type of jobs.
if you are looking down the road at a C-level position [which i think ibanking would give you a better background for], then a MBA might make more sense, in terms of being aligned with your interests and your goals.
go to a quant type school for your mva...although you seem like a great canddiate for masters of finance at princeton
breaking into a HF through MSF - viable? (Originally Posted: 05/08/2013)
I am 25 and I have an engineering degree from an engineering college in California. I am finishing up a biomedical research fellowship at the National Institutes of Health and am interested in breaking into the buy side. The end goal being a job at a mega fund HF.
The problem is I have a very technical science and engineering background and I don't know that much about quantitative finance, more specifically, how to get into the industry (e.g. recruitment windows, networking, selection process, etc). I don't have any finance internships or other experiences in the area. I am thinking about getting an MSF but am unsure which programs are the best. I have been thinking about MIT and Princeton. What other programs are good?
Is it viable to get a job at a HF immediately after getting a masters in financial engineering without any background in investment banking? How do I maximize my chances of getting into a HF?
If not a HF then what alternatives can you suggest? What about PE?
Lot of acronyms being throw around here.
MSF - Banking or F500 type placements. If you wanted to do an MSF (MIT type program) than your best bet with HF being a goal is to get into banking, do your time, and then try for a hedge fund.
MS Financial Engineering/Computational Finance - Trading, maybe HF. I'd aim for CMU, Princeton, etc etc. Quantnet really knows this space.
Hello I am in almost the same situation as you. 26, engineering background, not much finance skills/knowledge, strong desire to be in a hedge fund. From what I have researched so far, CFA seems to be the way for me (instead of a masters in this discipline) as its the mostly recognized qualification. But you surely must be looking for some expert opinion here, so lets welcome any other replies :)
Interesting that someone with no "finance skills/knowledge" has a "strong desire" to work for a hedge fund. Unless you're going to be in a programming role, what makes you think you'd enjoy working in a finance and capital markets-focused job? Not trying to be a dick, just curious. If it's just for the money, fair enough.
^ The CFA takes almost 3 years and is an extremely difficult and expensive certification.
I don't think its a real opinion for him at this point. Also only people in Equity Research care about CFA to the point where they'll give you a job over it.
If he does MSF > Banking > HF he'll be at the same place where all the other 22/23 year olds from undergrad going the same route except he's 2/3 years older than them.
You are wrong. A CFA is applicable in AM, WM and ER. It is actually more efficient in terms of ROI. Level 1 isn't that hard, its undergrad finance. Level 2 is where it gets real, but even at that Level 2 candidacy should get you a couple interviews. I say, CFA short term to try and get into AM, then go for an MBA when you have the Work Experience in order to try for a HF
This is some profoundly terrible advice.
The cost of the CFA over the full 3 years is a fraction of 1 year doing a MSF.
1) Read a lot 2) Do CFA 3) Network hard
CMU and NYU would be good.
The CFA isn't easy, whatever level you are taking. The real issue is you need the work experience to actually get the charter. So you grind it out for at a minimum 2.5 years (most likely longer if you fail L2 or L3). That puts you at 28 or older. So now you have all three levels passed, almost 30 and no tangible finance experience. Oh, guess what, boat loads of Indian and Chinese tech guys with CFA's are in the same boat as you.
Personally, I would shelve both the MSF and CFA. You have some interesting work experience. Keep doing that, work on the soft part of you application and do an MBA. You'd be looked at as a non finance candidate, which is good since your experience is pretty cool. You try and do finance now and if you want to do an MBA you will be weaker than other finance applicants. Stay in the non finance basket.
You could also go the quant route which would be the easiest way into a HF. Do the MBA if you want to go into banking.
Why do you have a "strong desire" if you have little finance knowledge? Is it the compensation that attracts you to working at a hedge fund?
Regards
Hedge Fund Career with only U-grad degree? (Originally Posted: 11/21/2010)
Well I am currently an underclassmen at Wharton majoring in finance. I am very interested in the subject, particularly finding price discrepancies/opportunities in various markets. I would like to eventually manage money as a value investor either through my own company or someone else's. However, in order to get to this stage of the game, is it necessary to get an MBA, CFA, MSF, etc?I know that Wharton is fairly prestigious, but I am guessing its weight alone will not be enough to get to where I want to go.
There are quite a few people who are hedge fund managers w/out academic training beyond undergrad. IB (GS/MS/JPM), Trading (BB), PE, or direct HF (Bain Sankaty) internships (all possible at Wharton) are the best way to break in. A second tier internship would be Equity/Credit Research either at a buyside firm like Fidelity/Wellington or a BB.
Everyone I have met in the HF world except the PM who's fund I interned at DID NOT have post grads. I'm not the end all be all in HF networking though, just from my short experiences.
There is no defined path into the HF world really. One of the interesting make ups of the HF industry is the fact that it is all value driven, if you can add it then you are paid for it. If not then gtfo.
I'd love to do jump into the HF scene after my undergrad, but it just isn't going to happen for me. I think a lot of people use the IB/ER/grad school because they really can give you the tools that will allow you to add direct value to a firm the day you start.
I'm a current student at Penn and am considering jumping straight to a hedge fund. I just got back from my final interviews actually. I interned at a convert arb fund and now I'm looking at either going to IB at BB or going to a hedge fund, so the options are there especially at Wharton (jobs are definitely posted through OCR).
You can certainly do it; of the senior people at my firm ~50% have MBAs, 1 has a MS, and the rest have CFAs or nothing. MBA seems much more of a pre-req for PE.
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