Changing careers shortly - would appreciate advice...

[RUSOE]

Hi all,

I am a long time reader, first time poster. To give you a quick professional background. I graduated from a good engineering program (and at the top of my class, 3.9+) with a B.S. in Electrical and Computer Engineering. I gave the traditional engineering role a shot because I studied it and wanted to give it a chance. I started a minor in economics but had to give it up to pursue a big research opportunity. I currently work at one of the largest defense companies in the world where I am an engineer (design/research work). I am very familiar with Matlab and C++ (and obviously have a very quantitative background).

I am interested in pursuing finance (more-so quantitative finance). My company will pay for my degree without the stipulation of remaining with them after I am done (yes, rare). The only school I can attend right now is Rutgers or schools in Philadelphia due to their location. I am going to attend Rutgers. I would be going part-time.

I am looking at the MQF program at Rutgers. I spoke to an individual closely involved with the career office and I was told that Rutgers isn't a target school (at all) for finance companies which to me implies that it will be heavily up to me to secure a finance related job as opposed to having an opportunity via the career office. But, the MQF website lists some top-notch companies (along with some which I don't see the relationship to a MQF degree). Does anyone out there have an idea of how I could possibly fare if I go into the MQF program. Don't get me wrong, I don't expect to walk into GS and be given the red carpet here, but I hope I don't get the degree and than completely struggle finding a job.

Some other options I have considered is the MSMF program (apparently an excellent placement record at Rutgers) or trying to make the transition now (I am assuming quite unfeasible to be honest, but could be wrong, I don't know).

If anyone could comment on the MQF program at Rutgers or if you think I would be better off with my other options, I would greatly appreciate your feedback. Sorry about the long post...I guess I'm making up for the extended period where I have always read and not posted...ha. Thanks.

 

[Andy Nguyen]

Rusoe,
Thanks for finally posting.
I don't have first hand experience with either program at Rutgers but there are more chatter about the MSMF program than MQF so I would take that MSMF is a better known relative to the MQF.
Most financial engineering program will have their own channel/method/procedure to attract potential employers so the "target school" is a bit misleading. "Target" is more relevant at undergrad level and for business school. Niche major like FE, there is not an established program for most big bank to go about this.
In any case, just keep in mind that you will do much of the groundwork when it comes to finding a job. And studying in a relatively lesser known, remote program would make it a bit harder.

Plus side, you get the education and degree for free. You can't beat that.
I assume the reason you choose MQF over MSMF is because of the location?

 

[RUSOE]

Hi Andy,

Both programs are offered at the same location. So, I really do have the choice between either one.

I was focused on the MQF program because it seemed to have a good reputation at Rutgers and within industry (so it 'seemed' from some recent news articles and their recent employer website, but I don't know how valid that statement is). The MQF program has a stronger emphasis on the programming aspect, which I found appealing. Although, the MSMF program has there own dedicated career services department which is very unique.

I understand that finding a job will be mainly up to me. I just don't know which program would give me the greatest opportunity to go into the field. I also don't know the reputation of either program at Rutgers according to industry professionals (I assume these are the individuals that would hire me and if they don't feel the programs are up to par, that would be a major problem).

(I have also considered the Rutgers MBA, but I am under the impression that it would be difficult to land a finance job because (back to the target school statement) finance companies don't target Rutgers; it is not a "core" finance school.)

 

[marilapi]

Hi RUSOE,
I'm from Rutgers and too was considering going for their MSMF. The thing you should know is (you probably do) that the MQF program requires 48 credits for completion. The MSMF only requires 36. 12 credits doesn't sound like much but in a part-time setting it could be about a year. Now that and the assumption that MSMF is better known should point you towards the MSMF. But it really just boils down to whether time is an issue or not and which program has more interesting courses. Would you rather learn about Math or Finance (I know, stupid question but check out the curriculum)? It seems like there's ALOT more finance in the MQF than MSMF.
Rutgers Business School : Curriculum
Degree Program Mathematical Finance at Rutgers
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