Help on deciding about the programs

[bcheema]

Hi All

Just a little backgound, I am 34 years old MBA working for an investment bank in Hong Kong in the middle office Finance department doing the Valuation review work as a VP. 8 years experience in such roles. I cover the equities desk across asia covring the flow as well as exotics products. The work is fairly techincal but not like the Front office quants.

I aspire (aaah) to move in research, quantitative reasearch, analytics, risk management or risk management sort of roles. I have been thinking about doing a Masters in financial engineering (I have bachelors degree in computer engineering so I have studied a fair bit of maths albeit a decade ago). my MBA was from NUS Singapore, a good quality MBA school in Asia but not the "brand" like instead, LBS wharrton havard or top US school.

This time I wanted to do it from a school that helps me break into front office. well I have been thinking for a few years. With 2 kids, this is not an easy decision. Some of the options are here

1. Do it from the likes of CMU, Columbia via the distance learning option. Pros: continue job, cons: high costs and am not sure if I can manage with my current work load. I think i will surve if I go ahead but...

2. Move to NYC (i am indian wife is from US), get a green card and do it from the NYC campus of these school. Pros: US has best opportunities. on campis education with job. Cons; 85k$ fee, moving family and finding Jobs in NY is not easy. a whole lot of changes. I am ok with living in the US but not a die-hard fan

3. Get it from HK. I researched and there is one option from HKUST that striked me. MS in financial mathematics. fee is 20$K only. http://www.math.ust.hk/pg/programs/mafs/
please can you guys have a look at it and let me know. How does it compare to the US programs in terms of the contents. Anything you have heard about the repute in Asia or elsewhere? Again its not a brand, can I really help me get into the above mentioned roles ? Pros: 20k fees, no changes in current setup. cons: no brand

Offcourse I am assuming here that I can get into the above programs (which is a totally different discussion). Please help me with your views on each option (especially about teh HKUST program).

Many Thanks for the help

http://www.math.ust.hk/pg/programs/mafs/
http://www.math.ust.hk/pg/programs/mafs/
http://www.math.ust.hk/pg/programs/mafs/

 

[bcheema]

Hi all
Please can you have a look at my post and share your opinions
Thanks a lot

 

[CasanovaJ]

If there are good opportunities in HK for whatever it is you're interested in doing (your list seems pretty broad), I would probably go with option #3 (Get it from HK)... It will lead to the least amount of disruption in your personal life, and won't set you back $100k for something that may or may not even end up getting you a job.

 

[bcheema]

HKUST seems to be one option in HK. Their MBA is well know but I am not sure about the financial maths program
I have given the link to this program in my post, please can anyone share any information about it, the contents and repute

Thanks a lot

 

[bcheema]

any views........................

 

[bcheema]

Hi All

Andy ? and others ? please can you spend a few minustes to share your views here

thanks a lot

 

[zyz]

I may not be qualified to opine, but here is what I would do:

1) sit down with the wifey and discuss these points in great detail;
2) decide where to live/work and analyse if there are research, quantitative reasearch, analytics, risk management or risk management sort of roles in the chosen area;
3) apply for the schools and see what you can get;

Good luck.

 

[bcheema]

I have discussed this with her. The thing is that the most comfortable scenario is for me to study in HKUST but the program is not very well know I think. I heard that the recruitment scene is also not great (local chinese banks hire mostly) so i thought I'd ask the guys here to see what they say. I think I cna learn from that program but I am not sure if anybody will call me for an interview. I need to break the mould that I have got myself in. Around 9 years of experience in middle office doing valuation control/IPV stuff. Do you think HKUSt will help me?

Other options are
1. Online degree from cool schools like CMU, Columbia. provided I getthe addmission, the problem here is mainly the 90k us$ fees. and the same question whether it can help me jump into something I want to do (the roles I had mentioned before)

2. Goto the US, we are fine with the move obivously that is going to be a big change for us and study part time into one of the school while working. 100k $ fees and finding a job in the US are the hurdles.

Do you realistically think that at 34, I can actually change into one of these fields?research, quantitative reasearch, analytics, risk management or risk management

 

[TBG]

If you're currently doing valuation review work.. that's not too far off from risk management roles in model validation / model review / pricing valuation review. Have you considered pushing for a lateral transfer either internally or to another bank? I would imagine that having 8 years experience with valuation review... you should have a solid understanding of things like dealing with front office systems/feeds/pricing etc that should make you a strong candidate for that.

Though if what you really want is quant research / analytics etc then it might be a stretch.. I don't know much about the HKUST degree - you should probably get in touch with their program director and find out placement stats / admission stats etc if those aren't already available online.. Or check on linked in and see what alumni of the program are doing and that's usually a good indication..

I think switching roles at 34 is definitely possible but it's something you have to push for and make happen yourself. I know of folks who switched from a VP in FIG IBD to VP in S&T eq derivs trading in the same bank.. So it's not unheard of it's possible.

 

[mhy]

With that much experience, I would network rather than spend 100k on a degree.

 

[bcheema]

Hi all

so I tried agressively on networking within my firm around 4 years back. I was 30 back then (2009-2010). At times there were no roles, at times there were roles that required experience and at times there were roles for which they sad I was over-qualified (wtf). anyways so this went on till 2012 and then I kind of gave up and focussed on my family life and new kid etc. 2009-2011 was quite bad with respect to hiring atleast in my bank..

now things have started picking again but in my 7 years here, i havent seen (except 1 guys) anyone move from back office to front office.......

 

[Andy Nguyen]

Moving from BO to FO is much less likely now, thanks to many episodes done by insiders (guys who stole code, hide huge loss from the books, etc).

 

[bcheema]

so i am stuck to this career for the rest of my life? I am not happy (though not miserable too)
any choices/ways out of this while I support my family & kids too

thanks!

 

[pingu]

so i am stuck to this career for the rest of my life? I am not happy (though not miserable too)
any choices/ways out of this while I support my family & kids too

thanks!

get your family to support you while you follow your dream.

 

[bcheema]

they will do as much as they can
but whats the way to my dreams....i dont know...

i just dont want to be stuck here in back office all my life...i want some decent job working on stuff thats more interestin quants analystics, research, amd the ultimate dreams (corporate finance/privat equity/investment management )
given my situation, is there a way out ..........

 

[bcheema]

hello guys
i want to revive this thread...will appreciate your valuable inputs
thanks!