Is a MFE worth it for a Physics PhD?

[Jimmy D]

Hi All,

I'm currently working towards a PhD in Experimental Particle Physics (HEP) and I've decide--like many in my field--that I don't want to purse a career in physics, but rather Quantitative Finance. I know of people ahead of me in my program who have successfully made the switch, getting jobs in Toronto without having to get a MFE, so I certainly know that it is possible. However, I wonder if it would not make senese to invest the time and money now for a 1-1.5 year MFE to get a higher paying job (preferably in NY) rather than simply settle for whatever I can get with just a Physics PhD (and some self study of course). Any advice from people with a background in physics would be most appreciated.

Thanks in advance.

 

[alain]

It would not.

 

[Keith Tan]

what do you want to work as?

 

[Jimmy D]

You don't feel that a MFE would make me more attractive to employers? Or that MFE's are just to expensive? Could you tell me what your experience is with this?

 

[Jimmy D]

keith

This is a good question since I don't exactly know. I have a strong background in math, programming and data analysis, but very little knowledge of finance. I also have some experience and interest in machine learning, i.e. neural nets, which I heard some hedge funds use. But I guess I simply don't know enough to know exactly where I would like to end up.

 

[Keith Tan]

oh no. i don't know how to help you. i strongly urge you to check out job postings to see what you really like, because there are just soooooo many positions in finance you can choose. for example, you can pick from sales, algo trading, portfolio management, to risk management, and pricing derivatives and modelling.

for example if you're in sales you can get a high paying job but you don't need any programming, probably talking to clients all day and burning long hours to meet sales targets. MFEs are good for entering risk management, but do you like handling risk?

MFEs don't make a holder of one attractive to employers, it just opens them up to more career opportunities, which they already had in mind. Some of these positions, you don't need an MFE. An MFin, MSF, MSCF could suffice enough to get to your goals.

 

[Ken Abbott]

MFEs don't make a holder of one attractive to employers, it just opens them up to more career opportunities, which they already had in mind. Some of these positions, you don't need an MFE. An MFin, MSF, MSCF could suffice enough to get to your goals.

As an employer of quants, I think I can safely state that big banks don't distinguish between the different finance masters programs. In risk, there are two basic paths, the PDE derivative pricing path and the statistics/econometrics path. That distinction is of more interest to me.

An MBA, on the other hand, reflects a very different skill set, one much more readily utilized in corporate finance.

 

[Jimmy D]

Well I certainly wouldn't be going into sales, and probably not portfolio management. I think my skill are most congruent with algo trading and/or derivative modeling.