Should I pursue MFE?

[finguy]

Hi, I work as a Trading Analyst for a BB in India. While I can't trade, I practically do everything else apart from just the final step (clicking some button on the screen). I can move to their London office in a year or so as a Trader. Should I stay put here or go for MFE? Pros of MFE are that I get a thorough academic background + I get access to US Job Market, + Alum network. The cons are that I will have student loans, + I will probably get the same starting salary as I'd get if I moved to London even after graduating from MFE.

What do you guys think?

 

[hmmashmmm]

London calling

 

[hmmashmmm]

Btw i am student from India and would love to connect on LinkedIn maybe?

 

[quanthopefully]

Obviously not.

 

[SD_]

Hi, I work as a Trading Analyst for a BB in India. While I can't trade, I practically do everything else apart from just the final step (clicking some button on the screen). I can move to their London office in a year or so as a Trader.

Are you sure they are going to send you to London? Indian employees are told these things to keep them from leaving.

Should I stay put here or go for MFE? Pros of MFE are that I get a thorough academic background + I get access to US Job Market, + Alum network.

The first pro is more than enough to answer your question.

The cons are that I will have student loans, + I will probably get the same starting salary as I'd get if I moved to London even after graduating from MFE.

If you think you will be getting the same salary in London as a quant after relocating from India vs getting into a proper quant role in the US after an MFE, you need to research what does an associate earns in the US vs the UK.


If they were sending you to the London office right now, I would've suggested maybe wait and see, but that promise to send you to London after 1-year thing is just not worth it in my opinion. If you are in your desired role, then no reason to go for an MFE. You can learn things on the job. If you think you lack understanding of the concepts which are stopping you from getting better at what you do and it would not be possible to develop the academic background while working. MFE!

Please also take into consideration, the current economic situation of the UK, and 2023 recessionary environment of the US. It would be better if you are studying full-time in 2023 and graduating in or after 2024 as things are expected to get better by then.

 

[fkingloser]

If they were sending you to the London office right now, I would've suggested maybe wait and see, but that promise to send you to London after 1-year thing is just not worth it in my opinion.

Echo this. There are so many IB regional offices that are gaslighting the employees that they will send ppl to the regional HQ, or some other global office if you work well for 1~2 years. but 90% of the time that's bullshit. Although not in India, I also had a same experience, and it took me 6 month to figure this out for myself. Not trying to say ur manager/HR promising falls to this 90% case since I don't have any contextual info, but you should always maintain a critical view on that kind of promise. It's really common in this space.

But if they actually offered you some very specific conditions, contract paper, some evidence of cross-border communication regarding ur status, that would be quite a different story though.

 

[bigbadwolf]

I can move to their London office in a year or so as a Trader.

Britain is in seriously bad shape. Your bosses won't be doing you a favor by moving you there.

I would stay on in India. The grass always looks greener on the other side.

 

[finguy]

Are you sure they are going to send you to London? Indian employees are told these things to keep them from leaving.


The first pro is more than enough to answer your question.


If you think you will be getting the same salary in London as a quant after relocating from India vs getting into a proper quant role in the US after an MFE, you need to research what does an associate earns in the US vs the UK.


If they were sending you to the London office right now, I would've suggested maybe wait and see, but that promise to send you to London after 1-year thing is just not worth it in my opinion. If you are in your desired role, then no reason to go for an MFE. You can learn things on the job. If you think you lack understanding of the concepts which are stopping you from getting better at what you do and it would not be possible to develop the academic background while working. MFE!

Please also take into consideration, the current economic situation of the UK, and 2023 recessionary environment of the US. It would be better if you are studying full-time in 2023 and graduating in or after 2024 as things are expected to get better by then.

Thanks, Sudhansh, for your detailed reply.

I'm 90% positive that the move will materialize for me due to multiple reasons, which I won't discuss here; otherwise, I might get identified. But I know the carrot approach you're talking about that Indian Managers generally use to keep folks from leaving. I am sure that my case is very different.
Coming back to the skills and role part -> I want to be a trader (ideally trading flow products but don't mind structured). I do believe there are gaps in my understanding, but my question regarding MFE stems from the fact that only a handful of graduates end up in trading positions v/s me here, who'll move into a trading role directly. Should I drop my prospects with my current employer to try for an MFE when my end goal is trading?

This UK situation is real since I'll have pnl targets to meet once I join. But again, I'll mostly have 1 year period where I won't have hard targets on pnl which will bring things to 2024 when the economy is supposed to improve.

 

[finguy]

Britain is in seriously bad shape. Your bosses won't be doing you a favor by moving you there.

I would stay on in India. The grass always looks greener on the other side.

Unfortunately the markets in India are not that "deep" compared to developed markets.

 

[hmmashmmm]

Unfortunately the markets in India are not that "deep" compared to developed markets.

How's that?

 

[finguy]

I'll speak from FIC perspective since I'm familiar with that domain. On the bonds side, the trading primarily is constrained to GSecs, the bond markets don't have much activity and the participants aren't as highly sophisticated as the DM counterparts.

 

[hmmashmmm]

I'll speak from FIC perspective since I'm familiar with that domain. On the bonds side, the trading primarily is constrained to GSecs, the bond markets don't have much activity and the participants aren't as highly sophisticated as the DM counterparts.

Ahh cool thanks for information!

 

[SD_]

Thanks, Sudhansh, for your detailed reply.

I'm 90% positive that the move will materialize for me due to multiple reasons, which I won't discuss here; otherwise, I might get identified. But I know the carrot approach you're talking about that Indian Managers generally use to keep folks from leaving. I am sure that my case is very different.
Coming back to the skills and role part -> I want to be a trader (ideally trading flow products but don't mind structured). I do believe there are gaps in my understanding, but my question regarding MFE stems from the fact that only a handful of graduates end up in trading positions v/s me here, who'll move into a trading role directly. Should I drop my prospects with my current employer to try for an MFE when my end goal is trading?

This UK situation is real since I'll have pnl targets to meet once I join. But again, I'll mostly have 1 year period where I won't have hard targets on pnl which will bring things to 2024 when the economy is supposed to improve.

If you will already have a good experience and will be filling the gaps in your understanding while pursuing an MFE, no on can stop you from getting your desired role.
You can work in London for an year as a Trader, network with US traders and PMs, and apply for an MFE, if needed.

 

[finguy]

If you will already have a good experience and will be filling the gaps in your understanding while pursuing an MFE, no on can stop you to get your desired role.
You can work in London for an year as a Trader, network with US traders and PMs, and apply for an MFE, if needed.

Thanks Sudhansh. Think I'll just hedge my risks. Applying for MFE anyway has no downside.

 

[SD_]

Thanks Sudhansh. Think I'll just hedge my risks. Applying for MFE anyway has no downside.

True !!

 

[Deependra]

Btw i am student from India and would love to connect on LinkedIn maybe?

Hey i am also from India. In last year of masters in physics and trying to become a quantitative analyst.
Would you like to connect on LinkedIn?

 

[finguy]

Alright guys- I messed up the applications so got rejected. Should have put more effort into them tbh.On the brighter side, have been offered the position of a trader at a BB in London!

 

[MikeLawrence]

Congrats