Job in Trading or Higher Education

[kuberkhan]

I got a job offer in Commodities Trading through a friend of mine (I worked with him to publish a paper on volatility trading but that did not go to completion). I asked him if the job is like a Quant developer. He said, 50% of the time, you'll be trading and the other 50% will be working on writing code for algorithmic trading. They need someone urgently, who can learn Volatility trading and perform and who has programming experience. Now I have a couple of interviews scheduled with them in the next few weeks. My ultimate goal is to work in Front office which I'm getting right away. Should I defer my admit by an year or two and join the company? I'll get work experience which is of greater value than a degree from a premier college.

Pros:
1) Work experience in Trading and market making
2) Save a huge tuition fee

Cons:
1) This is my final attempt at MFE education.
2) My back ground is Engineering and worked in IT most of my career. Should I get proper finance education before I venture into markets?

 

[Steven]

Cons:
1) This is my final attempt at MFE education.
2) My back ground is Engineering and worked in IT most of my career. Should I get proper finance education before I venture into markets?

The best education is get into the market.

But you said you got a job offer and still needs interviews? What do you mean "final attempt at MFE education"?

 

[IlyaKEightSix]

^ This.

At work, you know what actually works. In academia, you get taught by professors who can preach it, but if they truly knew it, wouldn't they be out there in industry making a killing themselves?

Unless they come to teach so they could interview an entire class for 15 weeks and hire the best students to their own companies ala Sylvain Raynes (sp)

 

[kuberkhan]

The best education is get into the market.

But you said you got a job offer and still needs interviews?

Sorry or wrong wording. He offered me a position to work with him directly and he knows that I'm applying for MFE. It's a 50:50 right now. There will be F2F interview. I'll request you guys about interview tips when I get till there

What do you mean "final attempt at MFE education"?

Well, I'm 27 and have other personal commitments lined up which will make logistics slightly difficult for academics.

 

[Ohad]

Sorry or wrong wording. He offered me a position to work with him directly and he knows that I'm applying for MFE. It's a 50:50 right now. There will be F2F interview. I'll request you guys about interview tips when I get till there

Well, I'm 27 and have other personal commitments lined up which will make logistics slightly difficult for academics.

In general I'll go with the job, you don't have to completely abandon one if you try for the other right?
You can still try to admit to a MFE program and if you get the job simply forget about it, getting the job or not will be known in a matter of weeks so this shouldn't be a problem.

Also, as it have been mentioned, nothing beats the real world, it will also give you a much better perspective on what/if you want higher education.

You can always get back to school part-time, many programs offer that so I really see no downside for taking the job now.Higher education will not disappear yet this opportunity might.

 

[roni]

I was in a kind of similar situation this week.
To make a long story short, I found an iPad a few months ago, I returned it and asked the person if he could help me with internship/job hunting. Earlier this week I received an email from a top bank's trading desk. It wasn't a job offer (some kind of informal meeting) but I told them my situation and that I'm starting grad school.
I think it depends on you. as far as I know myself, I wouldn't be as determined to get into MFE in a few years as I am now.
Plus, I think the grad school will help me in the long run in a better way than having a job now.
And, there were a few minor personal reasons why I preferred grad school.

 

[Barny]

Sorry or wrong wording. He offered me a position to work with him directly and he knows that I'm applying for MFE. It's a 50:50 right now. There will be F2F interview. I'll request you guys about interview tips when I get till there

Well, I'm 27 and have other personal commitments lined up which will make logistics slightly difficult for academics.

That still makes no sense. Do you have a job offer or not? If you have yet to have an interview, it's not a job offer. Anyway, the purpose of an MFE is to get a job, so if you get the job before the MFE, then the answer should be obvious.

 

[Baller]

^ This.

At work, you know what actually works. In academia, you get taught by professors who can preach it, but if they truly knew it, wouldn't they be out there in industry making a killing themselves?

Unless they come to teach so they could interview an entire class for 15 weeks and hire the best students to their own companies ala Sylvain Raynes (sp)

Wow man - you couldn't be more off. I wont go more into it - since there is no point. But not everyone jsut wants to make a killing, people have other goals, and trade offs that they choose. There's excpetions to every rule, but there are plenty of professors who can do what you call "making a killing in the industry" but choose not to for many reasons.
It's a different job, some people prefer one over the other.
If you ask me, what you said is quite juvinile

 

[Baller]

That being said, if you want to work in the industry, I would jump to that job

 

[Lin]

where do you have admits from?

 

[kuberkhan]

That still makes no sense. Do you have a job offer or not? If you have yet to have an interview, it's not a job offer. Anyway, the purpose of an MFE is to get a job, so if you get the job before the MFE, then the answer should be obvious.

Hi @Barny,
Thanks for the response. What did not make sense?I do understand that if you have to interview you still are not an offer holder. I wanted to learn from members who were in similar situation so that I do not snub them later, if I got selected.
My question is whether to even interview for the job. It's offered by a friend of mine. So, If I say yes and get into the job, I cannot quit for at least 2 years.

 

[kuberkhan]

where do you have admits from?

Got admits from Imperial College RMFE, Univ of Michigan MFE and NCSU Fin Math

 

[kuberkhan]

I was in a kind of similar situation this week.
To make a long story short, I found an iPad a few months ago, I returned it and asked the person if he could help me with internship/job hunting. Earlier this week I received an email from a top bank's trading desk. It wasn't a job offer (some kind of informal meeting) but I told them my situation and that I'm starting grad school.
I think it depends on you. as far as I know myself, I wouldn't be as determined to get into MFE in a few years as I am now.
Plus, I think the grad school will help me in the long run in a better way than having a job now.
And, there were a few minor personal reasons why I preferred grad school.

Hi @roni,
That was great. My position is that I do not have finance work experience. But he suggested that you'll learn more in the job than you would in your masters. As other members suggested, the best way is to pick a book and learn wherever you think you're lagging behind.
Do you have work experience in financial industry?