How to get more from MFE? & Career plan suggestion?

[Cheryl G]

I'm an undergraduate student major in finance and math at present. I decide to apply for MFE in fall 2015. I am very concerned about my future career path. Here is some questions, hope ppl who have some reflections on those problems can help me.

1. (For MFE alumnus) The time of MFE is short, and we have to look for intern chances at the same time. So what preparations should we do before enter the program? Or if you could go back of time, what should you had done better?

2. I am intersted in risk management, is MFE necessary? It seems MFE is designed more for algorithm trading.

3. The curriculum in each MFE program is different. Some emphasize programming skills, others emphasize on math and have little computer courses. So what do quants really do? Do they build up models, or do they code?

4. Do quants spend their lifetime as quants, or some of them will move on to other jobs as they get more experienced? How many of them will change jobs? What jobs do they move to?

 

[Andy Nguyen]

Hey Cheryl,
It's a long journey and there are plenty of new things to learn. A lot of people pickup the knowledge before they even apply by frequenting forums like QuantNet and from reading books, magazine.
We have a very popular reading list that link to many PDF guides (free) that explain the industry, what quants do, how to prepare for MFE applications.
quantnet.com/guide

 

[Cheryl G]

Hey Cheryl,
It's a long journey and there are plenty of new things to learn. A lot of people pickup the knowledge before they even apply by frequenting forums like QuantNet and from reading books, magazine.
We have a very popular reading list that link to many PDF guides (free) that explain the industry, what quants do, how to prepare for MFE applications.
quantnet.com/guide

Hi, Andy,
The post is awesome, and I have got some of the books in the list after I first saw this post a month ago, they are realli helpful!
But I still hope someone can answer my questions above directly. To read so many books cost time, but as I am in senior year and have much free time, to anchor myself and get a quick start is important for me. Thank you so much!

 

[Andy Nguyen]

A lot of MFE graduates are doing risk management, reporting, regulation these days. Forget about HFT or quant/trading jobs. Those days are long gone and those jobs are far and few between.
Read more about regulation, Dodd Frank to see if you still enjoy working in those roles.
https://www.quantnet.com/threads/collection-of-important-documents-for-risk-management.15188/

 

[Cheryl G]

A lot of MFE graduates are doing risk management, reporting, regulation these days. Forget about HFT or quant/trading jobs. Those days are long gone and those jobs are far and few between.
Read more about regulation, Dodd Frank to see if you still enjoy working in those roles.
https://www.quantnet.com/threads/collection-of-important-documents-for-risk-management.15188/

I have been seeking for such materials on risk management. Thx!
As you mentioned regulation jobs, did you mean enter government? Is it possible for a foreign student to work in US government?