Top 10 undergrad on a gap year. Need advice

Hi,

I'm a top 10 uni undergrad (think MIT, stanford, ivies), currently on a gap year. I'll be a senior this fall onward. I'm interested in finance, which is one of the reasons I took a year off. I'm a math major. I am interested in working for a hedge fund after graduation. I came across princeton's MFin program, and it seemed really interesting. A lot of grads went on to work for top hedge funds, according to their placement reports. So, I'm confused a bit as to what I should do. I'm super interested in math, but at the same time, I'm also interested in finance. So, is joining princeton's MFin program after graduating a good choice? (In this case, would the pay off from princeton's program be worth it? I mean, would I get enough $$$ on graduating from princeton's MFin program to pay off the money I spend on the program?) Or should I stick with my interest in math and apply for PhD programs? I don't see myself in academia in the future and am interested in working in finance.

So what should I do, based on what's written above. And from your experiences, what would be better if I am interested in math and finance (and, of course, want to make $$$)
1. graduate, then go to princeton for MFin (assuming I get in), and then do a MBA from a M7 (again, assuming I get in. Or should I not do a MBA?)
2. graduate, then go to some top math PhD program.

My academics are pretty solid. I did fairly well on the putnam and have a couple of research publications as well. I also have interned at a couple of places (BB as a summer S&T intern and at a hedge fund).

Also, a side question is getting an MBA (from a M7 school) after working a couple of years (after getting a math for fin master's or MFin degree) a good idea if I'm looking for a pay jump or change of fields?
Thanks!

NOTE: I'll definitely work hard to get into either of the programs, so please don't say "first get into the programs and then ask over here".

 

Why not just try to get a job in Finance to see if it's the career you really want to pursue? If you're at a top 10 school there shouldn't be any issues w/ recruiting provided you do the requisite amount of networking.

Princeton's MFin program has got an admit rate

 

I do know that finance is something I want to pursue. But at the same time, I also want to do math. So I'm just confused as to whether I should apply to PhD programs or just do something like a MFin, and then get into finance ( I'm just concerned whether a phd would reduce chances of getting a finance job or not)

I'm not banking in princeton - that was just an example.

Thanks!

 
Best Response

If you don't see academia in your future than the PhD would likely be overkill. I'd rank your choices as such:

1) Work in Finance. You'll learn hands on, transferable, marketable skills, make some money, and get attractive work experience for any next step you want to take, whether it's an M7 MBA (where work experience is a must) or a better job (or both).

2) Go for a top MFin. You can still work your quant muscles, and the top programs like Princeton, CMU, MIT, etc. have pretty good job placement records. If you don't mind another year of school or the expense, the option is viable (provided you gain admission).

3) PhD. If you discover that your passion is being immersed in math, then yeah, go for it. But you have to REALLY want to be in academia (which is already brutal breaking in) for this option to make any sense.

Hope that helps.

 

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