Whats the average age?
- Thread starter Sanika
- Start date
- Joined
- 5/2/06
- Messages
- 12,247
- Points
- 273
It's hard to say. I got a sweet ROI with my MFE at 32 but I know plenty of folks that got negative returns regardless of their age.
I did MFE years ago and it can be argued that MFE is no longer a good investment.
I did MFE years ago and it can be argued that MFE is no longer a good investment.
alain
Older and Wiser
- Joined
- 3/29/04
- Messages
- 2,767
- Points
- 93
I did my MFE with Andy. I was 33 and it was a great experience. However, I agree with Andy's last sentence.
- Joined
- 1/27/10
- Messages
- 1,038
- Points
- 173
As I recall, someone wrote an article on QN a few years ago about the coming glut of financial engineers...
- Joined
- 7/2/12
- Messages
- 119
- Points
- 38
I have a background in software engineering. A couple of recruiters I talked to ask why I was pursing a MFE (as in "why would you want to do that"). Its definitely not a path to take unless you are really interested in finance. All this said, I hope that things are what you make of them. An MFE may not be a fast track to big money right now, but I think that it depends on what you do with it and your passion. Or so I tell myself...
- Joined
- 2/7/08
- Messages
- 3,261
- Points
- 123
And how right he was.
- Joined
- 5/2/06
- Messages
- 12,247
- Points
- 273
The referenced article https://www.quantnet.com/threads/the-coming-glut-of-financial-engineers.5233/
Diverting from the topic a little, given the current trend of laying off at Citi, BoA and others, how much this is going to effect the job scenario a couple of years later. Until the efficiency of operating the firms reaches a desired ratio ; and if the market doesn't improve , i fear that cuts would continue..
- Joined
- 5/2/06
- Messages
- 12,247
- Points
- 273
Apparently, if you enter "age" into the search box (top right) and select Search title only, the results would be the exact answer you are asking for.
I am 42 (this week) and the age is a big concern. Specifically, till what age can you be productively employed as a financial engineer? I am seeking this new path, in part, because my current career in business valuations seems limited. Expecting to work till mid/late 60's, 20 years is too long to be stuck with limited career options. Can anyone share any thoughts the age financial engineers work till and their career transition strategies once they get older?
- Joined
- 7/2/12
- Messages
- 119
- Points
- 38
I am a decade older. I'm getting my Master's degree at the University of Washington in December. I also have a background in computer science. There is a lot of age discrimination in Silicon Valley where many companies are founded by people in their twenties and thirties. Like you I would like to work into my late 60s or even beyond. I love computer science and finance.
I have had a couple of phone interviews with finance companies, but that's it. They're big in brain teasers and I'm not always very good at these. Right now they can pretty much find what ever they want, so they can ask crazy things to see "how smart you are". At one options firm one of the options guys was an ex physics professor at MIT.
Even with the age discrimination the job market is much better in software engineering. Much as I love finance and I been fascinated by what I have studied, the comment that this was probably an investment with a negative return resonates for me. If you have a CS background I'd do a Masters in machine learning. Although who knows, in two years it might not be a hot area.
If you don't have solid software skills you are going to have a hard time getting a job in finance, by the way. All of the jobs that I've seen require solid skills in C++ and/or Java.
I have had a couple of phone interviews with finance companies, but that's it. They're big in brain teasers and I'm not always very good at these. Right now they can pretty much find what ever they want, so they can ask crazy things to see "how smart you are". At one options firm one of the options guys was an ex physics professor at MIT.
Even with the age discrimination the job market is much better in software engineering. Much as I love finance and I been fascinated by what I have studied, the comment that this was probably an investment with a negative return resonates for me. If you have a CS background I'd do a Masters in machine learning. Although who knows, in two years it might not be a hot area.
If you don't have solid software skills you are going to have a hard time getting a job in finance, by the way. All of the jobs that I've seen require solid skills in C++ and/or Java.
Thank you Ian -
I am coming for a different direction. All my career is in finance, just less sophisticated. I have MBA, CFA, worked in big accounting firms in valuations and do some of the "complex" valuation, albeit nothing that can't be done with Excel. I make good money where I am at as well. But it is not "career" any long and I am not learning or growing professionally. I would be thrilled with a good risk management job.
I am coming for a different direction. All my career is in finance, just less sophisticated. I have MBA, CFA, worked in big accounting firms in valuations and do some of the "complex" valuation, albeit nothing that can't be done with Excel. I make good money where I am at as well. But it is not "career" any long and I am not learning or growing professionally. I would be thrilled with a good risk management job.
- Joined
- 5/2/06
- Messages
- 12,247
- Points
- 273
upgrade your technical skills. heavy data crunching, sql, C++, big data tools, etc.
- Joined
- 7/2/12
- Messages
- 119
- Points
- 38
I have classmates who don't like to write software (which is a big part of the University of Washington Masters program, although generally the software is in R). The future may not be bright for them, although they have good math skills. So if you really are considering a quant job, even in risk management, I'd get some background in programming languages. The other thing is that these programs are highly mathematical. Linear algebra is used a lot, not only for computation, but also for proofs (which I had not done before).
I did my Masters degree while working full time. The University of Washington program is one of the few programs that supports this. At least for me this required a complete commitment to school. I literally had no free time. If my wife had not done a Masters degree she probably would never have understood. If you did an MBA while working this may sound familiar.
I think that in any field it is a challenge these days to keep working as you get older. As with any group that is discriminated against (women, for example) you have to be better than the younger people.
All of this is ironic because for most people retirement options are limited so we all have to work longer. Yet people will not give us jobs because we have grey hair.
The issue of age has not arisen for me in finance, simply because the job options are so limited. I get lots of interviews in software, just many fewer job offers than I used to. But in finance the problem I've seen is that, despite the degree, I don't have finance experience. And the employers can hire experienced people these days with my level of software background who have worked in finance.
Bank profits have been way up for several years, so you'd think that this might improve the job market. But I have not been seeing this. Perhaps in a few years.
I did my Masters degree while working full time. The University of Washington program is one of the few programs that supports this. At least for me this required a complete commitment to school. I literally had no free time. If my wife had not done a Masters degree she probably would never have understood. If you did an MBA while working this may sound familiar.
I think that in any field it is a challenge these days to keep working as you get older. As with any group that is discriminated against (women, for example) you have to be better than the younger people.
All of this is ironic because for most people retirement options are limited so we all have to work longer. Yet people will not give us jobs because we have grey hair.
The issue of age has not arisen for me in finance, simply because the job options are so limited. I get lots of interviews in software, just many fewer job offers than I used to. But in finance the problem I've seen is that, despite the degree, I don't have finance experience. And the employers can hire experienced people these days with my level of software background who have worked in finance.
Bank profits have been way up for several years, so you'd think that this might improve the job market. But I have not been seeing this. Perhaps in a few years.
Daniel Duffy
C++ author, trainer
- Joined
- 10/4/07
- Messages
- 10,469
- Points
- 648
I am a decade older. I would like to work into my 70's. C++ will be here forever.
As Andy said, don't lose your technical skills.
Playing golf all day is so boring
Last edited:
- Joined
- 4/21/11
- Messages
- 876
- Points
- 73
Playing golf all day is so boring
Shhh!
The President is watching these threads...
alain
Older and Wiser
- Joined
- 3/29/04
- Messages
- 2,767
- Points
- 93
I can say the same thing about COBOL.
Daniel Duffy
C++ author, trainer
- Joined
- 10/4/07
- Messages
- 10,469
- Points
- 648
I knew my remark would get a response, every time
To be honest, such comments are not very constructive.C++ is the engine for many applications and organisations. You may not like C++ which is fair enough but if you nothing good to say about it better not to say anything at all.
Technically, there is no language that equals C++.
We've heard it all before. It's like whipping a dead horse.
Last edited:
