Career in data science or quantitative finance?

Pursuing a career in data science or quantitative finance?

  • data/business analyst

    Votes: 11 35.5%
  • quant

    Votes: 20 64.5%

  • Total voters
    31

Qing Li

New Member
C++ Student
I'm currently considering my future career path..two options - data/business analyst or jobs like quant, portfolio management, risk management. Which one do you think is more promising in the next few years?

I get confused because I have been admitted by both the program focusing on data analytics and the mfe programs. To be specific, I have been admitted to CMU, master of information system management, business intelligence and data analytics track, and a few mfe programs, like Columbia MSOR and Chicago MAFN. Also, I am hoping that I could be in NYU mathematics in finance program.

Could you please describe the following job positions:
(1) data/business analyst
(2) quant (expect the desk quant)
(3) risk management
(4) software engineer (some mism students went for this)

What are the average working hours? The payment (including bonus)? the chance of promotion? And any other considerations.

Thank you guys for your suggestions!
 
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Qing Li

New Member
C++ Student
Columbia MSOR is not MFE
I know that Columbia MSOR is not Columbia MFE, but I could choose the similar courses if I'm gonna work as a quant...
As far as I'm concerned, MFE and MAFN are alike in many ways, and Columbia MSOR is just one of them due to its flexibility in curriculum.
 

pingu

Well-Known Member
I know that Columbia MSOR is not Columbia MFE, but I could choose the similar courses if I'm gonna work as a quant...
As far as I'm concerned, MFE and MAFN are alike in many ways, and Columbia MSOR is just one of them due to its flexibility in curriculum.
Keep thinking that way and I have a bridge to sell you.
 

Blue Berry

New Member
I have a similar decision to make. I have 8 years of experience in analytics in banking, and I have been offered admission to three 12/15 month FT programs - Berkeley MFE, Northwestern MS Analytics and Stanford Masters in Management Science and Engineering. I'm looking to pursue a quantitative role (as a Data Scientist, for instance) involving Machine Learning in a bank or any reputed organization, and I'm not interested in a trading role.

I'm currently leaning towards the Berkeley MFE because of its strong placement record, but I find the curriculum in the other programs more interesting. Any suggestions?
 

pingu

Well-Known Member
I have a similar decision to make. I have 8 years of experience in analytics in banking, and I have been offered admission to three 12/15 month FT programs - Berkeley MFE, Northwestern MS Analytics and Stanford Masters in Management Science and Engineering. I'm looking to pursue a quantitative role (as a Data Scientist, for instance) involving Machine Learning in a bank or any reputed organization, and I'm not interested in a trading role.

I'm currently leaning towards the Berkeley MFE because of its strong placement record, but I find the curriculum in the other programs more interesting. Any suggestions?
don't go to the MFE, concentrate on the other two programs.
 

Blue Berry

New Member
Would you elaborate on your reasons for the suggestion? The Berkeley MFE program has higher average starting salaries and from what I gather, a very strong reputation as well. A few students have also been placed as data scientists in companies such as Facebook and Twitter post the program.

Which program would you recommend between Northwestern Analytics and Stanford MS&E?
 

RavelS

New Member
Would you elaborate on your reasons for the suggestion? The Berkeley MFE program has higher average starting salaries and from what I gather, a very strong reputation as well. A few students have also been placed as data scientists in companies such as Facebook and Twitter post the program.

Which program would you recommend between Northwestern Analytics and Stanford MS&E?
Similar problem here. I am currently considering NWU analytics but have some conserns. The program seems not technical enough to support a future career as data scientist in tech company.
 

pingu

Well-Known Member
Would you elaborate on your reasons for the suggestion? The Berkeley MFE program has higher average starting salaries and from what I gather, a very strong reputation as well. A few students have also been placed as data scientists in companies such as Facebook and Twitter post the program.

Which program would you recommend between Northwestern Analytics and Stanford MS&E?
Berkeley is an MFE program, banks tend to pay really well. That's your average. It's not the average of the Data Scientist. I would bet those people had already some experience in the field.

PS - If you want to make tons of money with a high probability of happening, go to medicine or dentistry. It seems that's your main concern.
 

mhy

Active Member
Berkeley is an MFE program, banks tend to pay really well. That's your average. It's not the average of the Data Scientist. I would bet those people had already some experience in the field.

PS - If you want to make tons of money with a high probability of happening, go to medicine or dentistry. It seems that's your main concern.
It'll take up to 10 years to go to med school and then do internship/residency before finally finishing training and becoming a physician. Those 10 years of lost / significantly reduced income (plus loans) could negate the potential future earnings...you should only do medicine if you're really passionate about it, and not for the money.
 
Last edited:

Blue Berry

New Member
Do the techniques commonly used in Analytics/Data Science (Linear/Logistic Regression, Random Forests, Gradient Boosting, PCA, Clustering, etc.) find use in Finance? Or, do the quantitative techniques in the industry largely revolve around Monte Carlo simulation/Stochastic Calculus? I'm trying to get a sense of the transferable skill-sets between the disciplines.
 
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