Not interested in being a Quant, but want a MFE...

[Vince]

Hi everyone,

I just graduated with a Finance degree from a top school in Canada but unfortunately I haven't found a job yet.

I know I want to pursue a career in Banking but I'm really not interested in being a Quant. However I really want to do a MFE for intellectual reasons (i.e to better understand structured financial products, models, etc)

I think that having only an undergraduate degree does not really prepare you for the real world... That's why I want to get the MFE... (I'm doing the CFA as well)

So here are my questions:

- Am I wasting my time doing the MFE?

- Would it be negatively perceived by employers? (like why I wanted to it in the first place if I don't want to be a quant...)

Give me your advices...


Thanks!

 

[Andy Nguyen]

You can do MFE for intellectual reasons if you can spend serious money and commitment. You can always learn math without doing a PhD.
A similar thread MFE Just For Fun? - QuantNetwork - Financial Engineering Forum

Click on the reading list in my signature and get the career guide on the top. Without knowing what you want to do in finance, it will be a very long and expensive road ahead. MFE will not always work as quant. Many end up in risk management and other mid office type jobs.

 

[RussianMike]

I think I'm a good example of what the quant program can do for you(even if you havent finished it). I started working when I was 18(went to school part-time and graduated in 4yrs). After a few years out of undergrad I began to feel a void i.e. I felt I was underpaid. In 2006 I started Baruch MFE and switched jobs a few times already(not planning on doing this for a while now unless circumstances warrant it). I upped my salary by 66% from the time of starting program to now. The reason why I'm telling you all of this is that to me this is a much better program(especially Baruch if you're part-time) than an MBA

 

[Yan He]

It's your own choice if you can put that serious money/time/energy for MFE for "intellectual reasons"

MFE is not the only way to Quant, and Quants are not just MFE. As a matter of fact, most real quant positions requires a PHD --- at least the "real" quants I see on our floor.

Many sides of banking you can do with or without MFE: operation, transaction, finance.....