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A realistic look at the MFE

grandunification said:
At any rate, salaries don't mean anything to me. I wanted to become a quant, developing sophisticated pricing models with advanced mathematics, and it's never going to happen with an MFE. I just wanted to inform other prospective students about this if they had the same feelings that I had.
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This is true. If you wanted to do pricing model research you should have done a PhD. It's that simple.

But I don't think most people here want to do pricing model research, and they don't consider that to be the definition of a quant job.
 
Master degree to me is useless. I love theoretical stuff. I am just taking theoretical PhD classes at a college close by.
 
mhy said:
Base 80k + bonus can easily break 100k, and 150k all-in is not unreasonable at certain firms

In NYC a base of 150k is nothing
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If 150k base is nothing, there are a lot of people making nothing in NYC....
 
yo yue said:
Thx for sharing... I thought that will be like a Bachelor's compensation... maybe I am too optimistic ...
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A lot of analysts on Wall St are making 80k now, and some of that figure can even include the bonus.

yo yue said:
is that in NYC though... my friend intern salary at NYC is like 65K - thats not even front office position... maybe my data point is too skewed...
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Interns typically get paid pro-rated from a fulltime salary, from my experience.

65k is more typical for a finance job in NYC, but just because you're front office doesn't make you 100k all of a sudden. 80-90k is more likely for front office.
 
I wonder if there is as much talk about compensation in medical doctors circle as there is on this forum.
I feel like there is a bit too much obsession with it, my 2 cents. :eek:
 
TehRaio said:
I wonder if there is as much talk about compensation in medical doctors circle as there is on this forum.
I feel like there is a bit too much obsession with it, my 2 cents. :eek:
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Sorry to have contributed to that feeling! :) Work environment and culture is very, very important. People here don't really talk about that versus salary, but that's the general tendency on Wall Street.
 
C S said:
If 150k base is nothing, there are a lot of people making nothing in NYC....
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I meant a base of 150k in the financial industry is nothing special. Back-office VPs make 150k
 
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