Deciding between MBA/MFE - would appreciate advice

[mhy]

Hello,

Just joined QuantNet today. I'm really impressed by the quality of people/information here and I've already spent hours reading some of the threads.

For a bit of background, I have an undergraduate computer science degree / mathematics minor and I work as a software developer in NYC. I worked for a large investment bank for slightly over a year and then moved to doing middle office technology in the hedge fund industry (not a hedge fund). I have been interested in computational finance since college and actually interviewed at several quantitative hedge funds (although not for quant roles) but that is as far as I went.

I wanted to ask for advice regarding the following:

1) MBA/MFE? I am also interested in an MBA as I think it would nicely supplement my technical background, but I'm kind of torn in between at the moment. Would there be any point in doing an MFE over an MBA if I later decide to move to CTO/CIO type strategic roles?

2) I want to do something closer to the business but I don't want to be a trader or investment banker (thinking more like quantitative risk management, modeling, etc where I would still be able to do programming while being involved closely with the business). Is the MFE a clear winner here? On the other hand what kind of positions would I be looking at if I went for an MBA instead?

3) Does one degree have a definite edge over the other in terms of compensation assuming similar titles/corporate hierarchy level or is this too subjective a question? (I ask this because a Masters is very expensive and I'd ideally want a good ROI from doing it)

4) What other qualifications/certificates/activities could I work on in the meantime to improve my candidacy?

I would really appreciate any advice and am looking forward to learn more about this part of the industry. I apologize for the lack of knowledge in the area as I'm quite new to it all. Thank you.

 

[Ken Abbott]

Those are very different degrees that will take you in different directions. If you want to do risk, consider the MFE. If you want to focus on transactions, the MBA is probably more useful. It's hard to say which which will ultimately pay better. The quant finance party is over with respect to trading. There are too many people chasing too few jobs. That said, math skills are very important in support functions.

The most important thing you can do now is narrow your focus. Talk to people and see if what they do seems interesting. Read the press and see what you like.

 

[mhy]

Thank you, Ken. I'm currently leaning toward the MFE but I will talk to some people I know to get a better idea.

mhy

 

[Tianyu Li]

IMO if you want to be a CTO/CIO in the future, an MBA in a business school with strong IT background would be a great choice. For example Stanford and CMU