Decision between Oxford's MCF and EPFL's MFE

[ram_havya]

Hello everyone,

I’m a quantitative researcher with nearly two years of experience, and I’ve applied to several master’s programs this year. Last month, I was offered a place in Oxford's Mathematical and Computational Finance (MCF) program, and I’m in the process of arranging funding (around £70k). However, just a few days ago, I also received an offer from EPFL for their Master's in Financial Engineering (MFE) program, which comes with an Excellence scholarship covering nearly all tuition and living expenses.
Both programs offer courses that align with my career goals, and I’m particularly interested in pursuing a role in high-frequency trading (HFT) in Switzerland, the UK, or the Netherlands. Oxford’s MCF is a one-year program, while EPFL’s MFE is a two-year program, which also includes a six-month internship.

Currently, I’m leaning toward Oxford, primarily due to its global reputation, which I believe would provide more post-graduation opportunities, particularly in top HFT firms and also I believe mathematics at Oxford is the best in the world. However, the financial burden is significant, and I won’t know until the end of May whether I’ll receive any scholarship support, which may require me to take out a substantial loan. The longer duration of the EPFL program is also appealing, especially in terms of adapting to a new country by taking my time and gaining real-world experience through the internship before graduation.

Given that my goal is to work at a top HFT firm in Europe, I would appreciate any insights on whether the reputation and network of Oxford would offer a clear advantage in securing interviews and job opportunities with leading firms. If EPFL offers similar opportunities in terms of recruitment and networking with top HFT firms, the financial benefits of EPFL would make it a more attractive option for me.

I’d be grateful for any advice or insights from those with experience in these programs or in the HFT field.

Thank you in advance!

 

[Andy Nguyen]

Congrats on the offers @ram_havya
They are two of the most competitive programs to get admitted in the European continental. I would ask that you kindly share your profile and application timelines on the Tracker. We don't have as much data points from those programs compared to the US programs so your contribution is highly appreciated.

I can see why it's hard for you to make a decision. There is no clear cut winner in your particular situation. How long is your career projection to get into the ideal job may dictate your choice.

EPFL MFE if:

• You value financial security and want to avoid debt.
• You're targeting Switzerland or continental Europe.
• You want a slower ramp-up into recruiting and appreciate the built-in internship.
• You’re willing to build your own brand and network from a slightly lesser-known program.

Oxford MCF if:

• You prioritize brand prestige and believe it will give you a stronger edge in elite HFT recruiting pipelines.
• You have or are likely to secure funding and can manage a short, intense program.
• You are focused more on London or international roles.

 

[ram_havya]

Congrats on the offers @ram_havya
They are two of the most competitive programs to get admitted in the European continental. I would ask that you kindly share your profile and application timelines on the Tracker. We don't have as much data points from those programs compared to the US programs so your contribution is highly appreciated.

I can see why it's hard for you to make a decision. There is no clear cut winner in your particular situation. How long is your career projection to get into the ideal job may dictate your choice.

EPFL MFE if:

• You value financial security and want to avoid debt.
• You're targeting Switzerland or continental Europe.
• You want a slower ramp-up into recruiting and appreciate the built-in internship.
• You’re willing to build your own brand and network from a slightly lesser-known program.

Oxford MCF if:

• You prioritize brand prestige and believe it will give you a stronger edge in elite HFT recruiting pipelines.
• You have or are likely to secure funding and can manage a short, intense program.
• You are focused more on London or international roles.

Thank you, but this advice didn't help much cause the points you've listed are the reasons for my dilemma, I have to make a decision in under 10 days for EPFL, It would help me a lot if you say anything particularly on this part "Given that my goal is to work at a top HFT firm in Europe, I would appreciate any insights on whether the reputation and network of Oxford would offer a clear advantage in securing interviews and job opportunities with leading firms. I want to know if EPFL offers similar opportunities in terms of recruitment and networking with top HFT firms"

 

[souhil.sk]

Hey man, can't really give advices or comparison between the two in term of career opportunities as I'm still undergrad, but as a student from Lausanne I can just tell that living and studying here is a real pleasure compared to other campuses I've been to ! Regarding your question you probably want to ask EPFL alumni, you can find them on LinkedIn or some names here. You may also want to check this link, this may give you an idea of firms recruiting from EPFL. Good luck!

 

[ram_havya]

Hey man, can't really give advices or comparison between the two in term of career opportunities as I'm still undergrad, but as a student from Lausanne I can just tell that living and studying here is a real pleasure compared to other campuses I've been to ! Regarding your question you probably want to ask EPFL alumni, you can find them on LinkedIn or some names here. You may also want to check this link, this may give you an idea of firms recruiting from EPFL. Good luck!

Thank you for the EPFL job posting link. This helps, and yes, I will text a few people on LinkedIn. Did you live both at Oxford and EPFL, and love the experience in Lausanne?

 

[MikeLawrence]

Oxford is definitely better regarded. You already have work experience, and it would be easy to turn around afterwards and start paying off the debt. Especially as you already have work experience, it should be a fairly simple extrapolation of whatever your current pay was and then whatever you can expect to make when exiting the program to pay it off.

Oxford MCF should probably get the nudge, but my heart would be at EPFL. The long internship at EPFL is a major draw. You can also replace your thesis with more paid company work.

Make a list of all the programs who match your preferred specifics and offer 6 month internships- I know QRT/Cubist offers these, and then you'll have a good idea of who you could work with (and get a return offer from) for that duration. EPFL is also a wonderful school, and will set you up very well, but does lack the branding punch of Oxfords MCF.

 

[souhil.sk]

Thank you for the EPFL job posting link. This helps, and yes, I will text a few people on LinkedIn. Did you live both at Oxford and EPFL, and love the experience in Lausanne?

I never lived in Oxford no. But I've visited a friend who used to live there. I've lived in Switzerland (Geneva and Lausanne), Singapore and London. Idk about Oxford's university campus, but I feel like Switzerland is sunnier and more enjoyable to live in (please Brits don't come at me this is my personal opinion completely biased by the fact that I'm Swiss). I've also been to Singapore (NUS), UoGeneva and a few other campuses, and I can attest that Lausanne has the most beautiful campus with absolutely top notch ressources (I'm writing this while studying my Macroecons midterm from EPFL's Rolex Learning Center with view on the Swiss alps :P). A big downside about Switzerland is the cost of living, esp. compared to Oxford. You may want to look at this and consider it while assessing your choice of master.

Lastly, again I can't really give you a clear comparison about the differences between both masters, but I've discussed with a PhD in finance from University of Lausanne who told me EPFL's and ETHZ masters are amongst the best in Europe in terms of education (he comes from Imperial). I'd say both Oxford and EPFL will give you top-tier education, interviews and best job opportunities in Europe. If I'd be in your situation, I'd look at my financial situation, both curriculum and job location of alumni and make a choice out of this.

Again, congrats on your acceptances and good luck! If you end up taking Lausanne's offer, you can pm me I'd be more than happy to help.

 

[erood]

Oxford.
Don't bother to consider any other place you may think as an option, which isn't.
Sounds harsh but that's what it is.

 

[ram_havya]

Oxford.
Don't bother to consider any other place you may think as an option, which isn't.
Sounds harsh but that's what it is.

Could you please explain why? I have to consider EPFL because they are giving me a scholarship covering tuition and my living expenses, I can't reject it so easily unless Oxford has a major advantage, considering I need 70k pounds to attend it unless I get a scholarship next month.

 

[the_bolt_the_lightning_the_thunder]

Take that full scholarship. Both EPFL and Oxford are good enough to get you interviews, the rest is on you. Not having financial stress will help you focus on your study and other life aspects.