Any chance of self employment?

[KingVlad]

Originally, this site gave me a bad taste in my mouth about this career path and some salaries I've seen of MFE's. Which sucks, because I'm great with computers and so very interested in finance. Plus an MBA sounds like a drag. But after reading California - Berkley's placement reports and their site I've became intrigued with this career. But I've often thought. Since a lot of MFE's manage portfolios and trade. Could they become self employed? Work for themselfs? Because on the placement reports I've noticed, not all the students look for jobs! Seems crazy. So I had this thought.
Thanks for any input in advance!

 

[goldmanta]

Most of the MFE curriculum pertains to derivatives pricing. This means that a lot of what you'll be studying will not be related to learning how to manage your own portfolio. If you really want to learn how to invest and manage money on your own, you will probably be better-off embarking on a rigorous self-study regimen.

 

[Andy Nguyen]

Originally, this site gave me a bad taste in my mouth about this career path and some salaries I've seen of MFE's. Which sucks, because I'm great with computers and so very interested in finance. Plus an MBA sounds like a drag. But after reading California - Berkley's placement reports and their site I've became intrigued with this career.

A more realistic salary database would be this QuantNet Salary Database

Since a lot of MFE's manage portfolios and trade.

I wouldn't say a lot. Most people don't move up to that role.
It takes special personalities and talents to go independent. Most MFE grads would be wedded to their jobs for years due to H1B issue.
Some MFE grads go for PhD and do something else.

 

[KingVlad]

It takes special personalities and talents to go independent. Most MFE grads would be wedded to their jobs for years due to H1B issue.
Some MFE grads go for PhD and do something else.

Could you please explain the talents and the personality? And I could not figure out what is the H1B issue.

 

[Yike Lu]

Immigration. Being able to stay in the country.

H1B issue.

 

[KingVlad]

If you really want to learn how to invest and manage money on your own, you will probably be better-off embarking on a rigorous self-study regimen.

This sounds like good advice. I don't really want a job, I don't have a family to support and I can live on very little. I just know I'm going to take risks with my money. But what subjects would be good for learning how to invest on your own? I've read some books, they don't really say much more than common sense. I just thought understanding MFE material would give me confidence in taking risks.

 

[IlyaKEightSix]

"If you want to learn how to write strategies, start by writing strategies."--a DV algo trader, to me.

 

[Ian Kaplan]

A more realistic salary database would be this QuantNet Salary Database

As a computer science person in a quant master's program, I'd say that if you're smart enough for a quant program, you can definitely do well in a computer science program.

Those quant salaries are pretty depressing. In general they are not that much higher than software engineering salaries. And if you factor in geography, cost of living and quality of life, the software engineering salaries come out ahead. So you better really like finance, since it could be that love of the topic is the only strong reason to get the degree.

 

[vman]

... I could not figure out what is the H1B issue.

For international students to stay in the US after graduation, they must have working visa -H1B visas that are sponsored by their employers. If they change their employers then they must have their new employers sponsor them and reply for new H1B visas. The applying process takes long time and costs money so H1B people rarely change their jobs until getting greencards.

 

[KingVlad]

For international students to stay in the US after graduation, they must have working visa -H1B visas that are sponsored by their employers. If they change their employers then they must have their new employers sponsor them and reply for new H1B visas. The applying process takes long time and costs money so H1B people rarely change their jobs until getting greencards.

Oh. Doesn't apply to me.

 

[Lyosha]

As a computer science person in a quant master's program, I'd say that if you're smart enough for a quant program, you can definitely do well in a computer science program.

Those quant salaries are pretty depressing. In general they are not that much higher than software engineering salaries. And if you factor in geography, cost of living and quality of life, the software engineering salaries come out ahead. So you better really like finance, since it could be that love of the topic is the only strong reason to get the degree.

I know of at least one senior programmer that decided to not become a quant after graduation from an MFE because he didn't want to more than halve his salary for the first X years.

 

[KingVlad]

As a computer science person in a quant master's program, I'd say that if you're smart enough for a quant program, you can definitely do well in a computer science program.

Those quant salaries are pretty depressing. In general they are not that much higher than software engineering salaries. And if you factor in geography, cost of living and quality of life, the software engineering salaries come out ahead. So you better really like finance, since it could be that love of the topic is the only strong reason to get the degree.

My reason for getting the degree would be for the knowledge of using my own models to invest with. But it seems like quants are just number crunching people who never get what they deserve. I'm not sure what to get a masters in now. I just did CS for pure knowledge. Maybe masters in finance? Write some finance programs or something.. So lost.

 

[Lyosha]

But it seems like quants are just number crunching people who never get what they deserve.

You hurt my feelings

I just did CS for pure knowledge.

I don't think my CS degree coursework expanded my knowledge by that much. It was just good coding practice really. And some basic philosophy...

 

[KingVlad]

You hurt my feelings

I'm sorry. But since (I'm assuming) you're a quant and you did CS. Was the masters degree worth it? Do feel like you have the confidence to invest properly with your knowledge? I.e. Could you buy stock using your own models successfully? Or something simple like real estate?
California Berkley's chart basically said its a PhD in finance with practicality. So I thought you'd have the know how.
If it seems like I'm coming off arrogant, I'm really not trying to. I'm just so very curious.