Help choosing UK programs

[ruimiguelribeiro]

Im an applied mathematics students with a specialisation in economics. Recently, I have been looking for master programs in Europe related to stats, quant fin and risk management. I narrowed down my choice to these programs: Imperial statistics (financial statistics), Imperial Math and fin, LSE statistics (financial statistics), LSE Quant methods for risk management.

Im not looking for a real quant position because I don’t really enjoy hardcore programming that much (at least that’s what I think, I’ve only had 1 programming course and it was C++, I did well but i didn’t feel comfortable when doing it), I think I would enjoy a lot more roles with softer programming needs (statistical programming in R or SQL, python). This why I’m reluctant regarding the math and fin program at imperial (it has C++ module and I think it will lead me to roles with heavy programming), I enjoy every other module form that program.

With that being said, I really enjoy risk management, however I’m afraid that by doing the LSE QMRM master will narrow my future career choices. The other 2 stats programs are relatively similar (the imperial stats has a little less elective choices) and have modules that I really look forward to.

I would love to ear your opinion and thoughts about what I said.

Thanks!!

P.S - Im not looking to work in the UK, at least right now. My intentions are to work in Portugal.

 

[SD_]

There are some core modules in MFE programs which definitely include programming. Having C++ in a core module doesn’t mean that you will only be picked as a Quantitative developer. With just one C++ module you may not be able to compete with the MSCS students who were eyeing Financial Services instead of Tech.

It would be a red flag for me if the MFE program doesn’t have intensive programming. You can always choose electives based on your career aspirations.

Since you want to work in the Risk Management space( eg: Model validation/development) they do require coding skills, mostly Python/R nowadays.
However they usually care more about Math/Stats (stochastic calculus, Time series Analysis, VaR, Expected Shortfall, BSM & Derivative valuation, etc…).

 

[SD_]

I think Imperial Risk Management and FE has a good curriculum. There doesn't seem to be any C++ (or any other hard-core programming) course in their core modules (only in electives). Why not check this out?

MSc Risk Management & Financial Engineering

A Master's in Risk Management & Financial Engineering, certified by PRMIA, prepares you to succeed in today's financial firms.

www.imperial.ac.uk

 

[ruimiguelribeiro]

I think Imperial Risk Management and FE has a good curriculum. There doesn't seem to be any C++ (or any other hard-core programming) course in their core modules (only in electives). Why not check this out?

MSc Risk Management & Financial Engineering

A Master's in Risk Management & Financial Engineering, certified by PRMIA, prepares you to succeed in today's financial firms.

www.imperial.ac.uk

Thank you for the answers!

I have already seen this degree and I found it interesting. However, the reviews are really bad and the salary of graduates is 1/3 of the other imperial degree

 

[SD_]

- Risk Management jobs pay less compared to Trading, PM, and research.
- Big4 has model validation/development roles and they pay so less in the UK that they should stop hiring quants.

So take these above points into consideration as well, because they might impact the average salaries of the graduating class.

 

[ruimiguelribeiro]

- Risk Management pays less when compared to Trading, PM, and research.
- Big4 has model validation/development roles and they pay so less in the UK that they should stop hiring quants.

So take these above points into consideration as well as they might impact the average salaries of the graduating class.

Okay, didn’t know that. From now on I will take it under consideration. Thanks again for the advice!

 

[Westeros]

Thank you for the answers!

I have already seen this degree and I found it interesting. However, the reviews are really bad and the salary of graduates is 1/3 of the other imperial degree

Imperial RMFE'22 alumni here. I think there are several reasons behind this 'rumor':
1) Program doesn't take serious statistics about starting salaries of alumni, so I strongly believe this statistics are misleading
2) Program cohort size is HUGE and many people do not have aspiration to become quant/trader, hence go into back office roles etc. which on average make less. So, average salary does not really represent your expected salary as a quant after this program.

Personally, I was very satisfied with the curriculum (which was very applied) and career services at Imperial.

Most of the people I know from cohort ended up in decent places, and I seriously doubt if people going into trading/quant/sales in our program are earning 1/3 of other imperial programs (I personally know many people who ended up in trading desks and quant at MS, GS, Citi, BNP, prop shops etc.) in this year's cohort.

Hope this helps