Which one? master in finance or master in FE

[GoodGirl]

Hi to all.
I have a bachelor and a master in Industrial Engineering and I want to switch to the field of finance for my phd studies. I mean, I'm interested in different aspects of the field of finance and want to pursue a phd in this area so I can have an academic career in it. So, I don't want to work only in financial institutes or banks or financial markets. I intend to concentrate more on an academic career as a teacher in a university. I have decided to get another master in the finance field to be more familiar with this area and have a better chance of getting accepted in outstanding universities of US for phd.
Now, which one do you think is more appropriate for me? a master in finance or a master in FE, math. or quant. finance ? Which one can help me more for a phd program?
I should mention that I have enough math and computer programming background that universities need to apply for FE, math and quant. programs.
another thing is that I havn't worked in the field of finance ever and my knowledge about finance is limited to a 1-semester financial engineering course and a thesis related to financial time series. please help me decide more precisely.
thanks

 

[Andy Nguyen]

MFE is a professional degree whose goal and curriculum are designed around practicality and technicality. If your goal is academia, then try to find a Master Finance program where it provides you with a broad and theoretical training.

 

[Connor]

Building off of what Andy said, I would recommend trying to talk with students/faculty of your potential programs to gauge the curriculum and goal of the program. I say this because I am currently studying a MSc in Finance and Investment and the program is considered a professional/vocational degree.

 

[financeguy]

First of all keep in mind that just because something is named "Master of Finance" doesn't mean that it's not really, for all intents and purposes, a MFE degree. What I'm saying is you should look at the structure of and courses in the program and decide what best suits your interests and what would prepare you most for what you want to do. There really is no right answer.

Also more importantly is that you don't need a masters in FE/finance to get into a great PhD in Finance program. You can apply to a PhD in Finance program right now with your current qualifications and obtain your masters in passing through your first/second years' coursework. Some programs won't offer a masters in passing but who cares as long as you're getting that PhD. You just need a great GPA, standardized test scores, and letters of recommendation - which you'd need anyway for a MFE/Finance.

 

[GoodGirl]

Thank you very much guys. Your answers helped me alot.
I decided not to apply for another master degree and spending 1 or 2 more years on it, but wait until next year and improve my resume during this time, I mean by publishing the working papers and finishing my thesis, and gaining some work experience in the field of finance. So I will have a better chance to get admitted in a very good university in US for a PhD.
It seems reasonable doesn't it?

 

[financeguy]

Yep seems very reasonable. If you can land yourself a good job in finance right now that's probably the best way to learn for you, more so than an MFE program since you already have all the background you need except for financial knowledge. Otherwise I think you really could just apply to PhD programs now and if they reject you just try again next year as well after beefing up your resume.