Quant Degree for non quant job

[SoMeOnE]

Hello everyone!

I am currently a senior who did a BB S&T internship this summer. I really really loved the experience and the desk I was on really thought I was a good fit for them and S&T in general. However my bank started laying off people, including my desk, like crazy and I was unable to get an offer.

Anyway FT recruiting didnt go too well and I was wondering if it would be a good idea to apply to one of those mathfin/mfe programs and try again for an S&T or any markets related job. I would really like to learn more about quant finance however I really dont have much interest in becoming a quant. I was thinking about the columbia math finance program. I understand many ppl on this board dont seem to think it is a very legit program but would it be a good idea to try and get into the program and then recruit for S&T? I dont really care too much about hte programming aspect of hte program anyway, just the OCR. Thanks!

 

[TBeas]

Why not go for a regular MS in Finance or go for an MBA?

 

[roni]

If you can get into a masters in finance program, you will be good. The thing is there are only 2 such good program, MIT and Princeton... at least these are the ones I'm aware of.
If you can't, MFE is a good option. A lot of people from these programs end up in trading and front office jobs.
Many trading desks hire technical people.

 

[Andy Nguyen]

would it be a good idea to try and get into the program and then recruit for S&T? I dont really care too much about hte programming aspect of hte program anyway, just the OCR. Thanks!

Sounds like a bad idea. I would caution that the career services (at least the S&T recruiting as you seem to mention) at target schools are available to undergraduates and MBA students, not to master programs such as MFE/MathFin.
Before you make a decision, investigate the dedicated career services available for Columbia MAFN students.

 

[Joy Pathak]

I would have to repeat what is said above... S&T programs usually target undergrad programs almost always. For associate they target only MBA programs of top business schools. It is very hard to get into an S&T program from an MFE. It is possible to get into a quant program in S&T but not the trader-in-training programs. For associate programs through an MBA you have to have atleast 2-3 years of experience.

 

[SoMeOnE]

Thank you so much for your replies.

The reason I wanted to go to grad school right after graduating is well...I am not having much luck in finding a job The idea I basically have is to go to grad school for like a year or 3 sem program, let the job market recover and then try to get an S&T position (or anything fairly markets related). I feel I would have a decent shot at this due to the S&T gig I did this summer in addition to my previous internship experience.

Thank you for pointing out that career services might be different for MFE students as for MBA and undergraduates. I actually go to a school which has one of the most well known quant finance programs in the country and there were 2 math finance students in my BB doing S&T with us as analysts and thats kind of why I thought that the career services would be the same. But I will ask around and check, esp for columbia since I really want to stay in nyc.

I am an ok student with around a 3.5 gpa cumulative so I dont really think I have much of a shot at getting into Pton or MIT masters in finance. However I have taken a decent number of math classes upto ODE and Mathematical Modeling (not a math major , majoring statistics and economics) so I was hoping I could try for a math finance degree which would provide me a brand name which I could use for recruiting and at the same time would not be ridiculously impossible to get into. I think I am really good at writing convincing and interesting essays so I could spin my academics and work experience to match the program but theres relaly nothing I can do about my gpa anymore .

Would love to hear anymore feedback or comments you guys have. Thanks again!

 

[roni]

Thank you so much for your replies.

The reason I wanted to go to grad school right after graduating is well...I am not having much luck in finding a job The idea I basically have is to go to grad school for like a year or 3 sem program, let the job market recover and then try to get an S&T position (or anything fairly markets related). I feel I would have a decent shot at this due to the S&T gig I did this summer in addition to my previous internship experience.

Thank you for pointing out that career services might be different for MFE students as for MBA and undergraduates. I actually go to a school which has one of the most well known quant finance programs in the country and there were 2 math finance students in my BB doing S&T with us as analysts and thats kind of why I thought that the career services would be the same. But I will ask around and check, esp for columbia since I really want to stay in nyc.

I am an ok student with around a 3.5 gpa cumulative so I dont really think I have much of a shot at getting into Pton or MIT masters in finance. However I have taken a decent number of math classes upto ODE and Mathematical Modeling (not a math major , majoring statistics and economics) so I was hoping I could try for a math finance degree which would provide me a brand name which I could use for recruiting and at the same time would not be ridiculously impossible to get into. I think I am really good at writing convincing and interesting essays so I could spin my academics and work experience to match the program but theres relaly nothing I can do about my gpa anymore .

Would love to hear anymore feedback or comments you guys have. Thanks again!

3.5 from a top school is equivalent to 4.0 from a so so school, especially if your 3.5 is in engineering/math/cs etc. ... so I would apply to MIT/ Princeton... you have nothing to lose... I think your GPA is just about the average or a little below. I don't think it will make a difference.
You are right about MFE students end up in S&T analyst positions. It is the same in my program. In my school (I'm sure it's the same in Columbia) you can email the OCR recruiters directly. So, if there is a job targeting undergrads/MBAs, you can shoot them an email with your resume. I'm sure they would like to have an MFE on board rather than an undergrad for the same pay (obviously if you are a good fit).
I haven't applied for any S&T analyst positions, but I know people have done this and it worked out for them.
I also heard that some MFEs went straight from their summer programs to 2nd year trading analyst positions... don't know how true this is... sounds a little skeptical but don't know.
I think your best shot is to email the students and see what kind of jobs they are getting.