Is an MFE a good idea for a Math PhD?

[CuriousWaters]

I am trying to get into the finance field, and I am looking for a career in quantitative finance. I will complete a Ph.D in pure math in May, and I am wondering if it is worth it to apply to some MFE programs, or if I should try to move straight into a job.

I have been studying finance independently for a few months. I have read through Hull's Options, Futures, and Other Derivatives, and I have been reading through a few different texts on stochastic differential equations. I don't have very much experience in programming.

Is there anyone that has been in this situation, or has any advice about what you would do in this situation. Thanks for any comments or advice!

 

[Andy Nguyen]

Lot of people with PhD did MFE to get into the field. It works for them, may or may not work or be worth it for you.
PhD does not give you key to open any door. You still have to pass the muster at the interview and impress people to get a job.

Getting that interview is the key. Why not try to work with recruiters, go out there and test the water. You can only see what you don't until you interview.

Do that first before jumping into the MFE wagon.

 

[HyperVolatility]

As Andy rightly said the fact that many people did a MFE does not mean it will work out well for you too.

However, as a piece of advice, if you look for a career in quant finance you dont need a MFE if you have a PhD in Math.
Most job posts in High Frequency Trading or Quantitative Analyst do not require any knowledge of finance whatsoever.

You might get problems to obtain FO positions such as traders or fund managers because in that case you should know what finance is about.

you could try to get into derivatives princing or products structuring.

However, as Andy previously mentioned, you'd be better off testing the water first

Good Luck

 

[alain]

BTW, this question has been asked multiple times on QN. Do a search and you will get all the answers.