How much does college matter?

[Pixel]

I had a few questions-

1)Is being from an IIT a hard requirement, in this industry?
i am doing computer engineering from the 2nd best college of my state, will good MFE programs consider me?

2) Most people with an MFE don't end up as quants, so what do they do?

 

[tpnv]

I had a few questions-

1)Is being from an IIT a hard requirement, in this industry?
i am doing computer engineering from the 2nd best college of my state, will good MFE programs consider me?

2) Most people with an MFE don't end up as quants, so what do they do?

1. Somewhat yes. If you want to break into quant after Bachelor, recruiter will prefer top schools IIT (India), 985(China) or other top league uni (NUS, ETH, UMelourne, Sorbone, Imperial, etc). If you have good experience in research, intern, good gpa and test score then yes top mfe will consider you.

2. If not quant firm quant or BBB quant:
- MRM (model validation)
- Bank Risk quant (depend on firm and team but most regional bank are not quite doing quant stuff like trading but this is the safe bet and good job security)
- DA/DS
- FP&A (this is more traditional finance than quant)
- Finance Engineer (mostly at mortgage company and work toward research and trading bonds/fixed income)
- OR continue pursue PhD at top league uni for better chance in quant.

 

[Pixel]

1. Somewhat yes. If you want to break into quant after Bachelor, recruiter will prefer top schools IIT (India), 985(China) or other top league uni (NUS, ETH, UMelourne, Sorbone, Imperial, etc). If you have good experience in research, intern, good gpa and test score then yes top mfe will consider you.

2. If not quant firm quant or BBB quant:
- MRM (model validation)
- Bank Risk quant (depend on firm and team but most regional bank are not quite doing quant stuff like trading but this is the safe bet and good job security)
- DA/DS
- FP&A (this is more traditional finance than quant)
- Finance Engineer (mostly at mortgage company and work toward research and trading bonds/fixed income)
- OR continue pursue PhD at top league uni for better chance in quant.

Another concern of mine was that is MFE too narrow a degree? Like it’s not the target degree for any job be it quant, traditional finance, or tech so is it better to do other math heavy degrees like cs, engineering etc?

 

[Andy Nguyen]

Another concern of mine was that is MFE too narrow a degree? Like it’s not the target degree for any job be it quant, traditional finance, or tech so is it better to do other math heavy degrees like cs, engineering etc?

You can do any STEM degree and apply for quant jobs. Educational requirements for quant jobs are not asking for a specific MFE degree.
The utility of an MFE degree is its alumni network, career services, practical training to this niche field. These are the strength of a really good MFE program but can be a liability for many mediocre programs. You may as well take do STEM degree instead of going to one of the run of the mill MFE programs.

 

[Pixel]

You can do any STEM degree and apply for quant jobs. Educational requirements for quant jobs are not asking for a specific MFE degree.
The utility of an MFE degree is its alumni network, career services, practical training to this niche field. These are the strength of a really good MFE program but can be a liability for many mediocre programs. You may as well take do STEM degree instead of going to one of the run of the mill MFE programs.

which MFE programs would you say give an edge over other STEM degrees,is it only the elite ones like Princton, Baruch, CMU?
Or are mid-tier ones like NYU, Rutgers, NC state also worth going to?

 

[tpnv]

which MFE programs would you say give an edge over other STEM degrees,is it only the elite ones like Princton, Baruch, CMU?
Or are mid-tier ones like NYU, Rutgers, NC state also worth going to?

Usually Master degree is US really depend but aim for the higher ranked one as possible but I have seen many from Rutgers got to Trading side, NCSU got to BBB or asset management. And saw some Columbia got into MRM at regional bank or NYU to economist.

In short, it is you, how you do and may be some luck determine your worth, degree helps but not 100%, it might give you some advantage but it is on you at the end of the day.