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Does an MFE pigeon hole you?

curiousgeorge

Joined
4/25/13
Messages
10
Points
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Hi guys and gals of quantnet, Im currently debating doing an msf or an mfe and I am trying to decide which one would suit me better and was hoping that you guys can give me some advice. I've read through the guides that Andy has posted and they have been very helpful.

Im 26 years old btw with a econ major from a non-target and I have 2.5 years working in the financial industry.

I am a more quantitative person by nature, knowing this here is what I can say about myself:

1) I don't want to be a trader, trading is like being a professional athlete, its a tough gig and if your algo's dont perform well youre out of job me thinks. I'd like some stability in life and it seems like there are big bucks to be made in trading but its also not a relatively stable path.

2) At the same time I'd love to use math and stats with bloomberg and work with a PM at a macro hedge fund and devise a long term investment portfolio

3) I don't want to do programming or math problems only in my role, I enjoy finance more than standalone math or programming. But I relish the idea of using math to make finance more concrete if that makes any sense.

4) Risk is something that I enjoy, but again not as a standalone job but as a bigger picture understanding of what I am doing. I dont want to be managing the risk of traders all day long, but rather use my understanding of risk to tailor a financial product for a client.

Here are some of my concerns with an MFE:

1) Most of the jobs that I see posted want extensive programming knowledge and most of the jobs posted that the MFE seems to fit, are in a trading role which I dont want.

Question 1: Outside of trading, what else can a person with an MFE really be good for? Can an MFE apply for F500 positions in corporate strategy, or as a fixed income analyst for example? If I do go for an MFE I'd like to know there are other non-trading, non-risk only applications, non-programming only jobs

2) My ideal position would be a buy side portfolio analyst, oil and gas or commodities specifically.

Question 2: My understanding from what I've read is that the MSF has a broader application meaning I'll have more jobs open to me and that a MFE is very specific. Suppose Id like to get into management at some point at a f500 company, and deal with corporate strategy. Would a MSF be better for that type of deal?

I know my questions may seem all over the place but what Im really asking is to get an idea of how limiting an MFE is, because I am leaning more toward the MFE from an intellectual standpoint as I enjoy the advanced math and programming more, but I understand that its application in the real world may be limited to very specific roles like a programmer or trader.

Just need some help, thanks guys
 
In my opinion a MSF fits better your interests. Additionally, I believe a MSF can also be intellectually challenging.
 
wait did someone seriously ask if an MFE pigeonholes you into a career in... trading?!?

MFE is basically a professional degree in the mathematics of finance, which is useful primarily for understanding and management of risk. The typical concerns for MFE students is that they'll be pigeonholed IN risk, not out of it... MFE is exactly the place you should go.

That having been said, your career aspirations appear misguided. If you are working with a PM on strategy, you shelter all the same risk as the PM, but with limited upside.
 
Lyosha said:
wait did someone seriously ask if an MFE pigeonholes you into a career in... trading?!?

MFE is basically a professional degree in the mathematics of finance, which is useful primarily for understanding and management of risk. The typical concerns for MFE students is that they'll be pigeonholed IN risk, not out of it... MFE is exactly the place you should go.

That having been said, your career aspirations appear misguided. If you are working with a PM on strategy, you shelter all the same risk as the PM, but with limited upside.
Click to expand...

Thank you guys for your response.

To clarify things I don't want to be a trader, or a risk professional.

This is my ideal position

http://jobs.efinancialcareers.com/job-4000000001147691.htm
 
... that appears to be the job listing for a "risk professional"...
 
I have the some of the same concerns as OP. But, I think MFE grads can take the jobs available to MSF grads but it is not the other way around. So isn't MFE is a broader degree from 'available jobs' point of view?
 
From a BB recruiting standpoint, there's little difference between MFE, MSF, MQF, MSCF, etc. The question in a (quant) interviewer's mind is "can this person count to eleven with their shoes on or not?" Yes, programming skills can send one down a different path, but generally you're either solving differential equations or running regressions..
 
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