Is it too late to do an MFE?

[mqf_asp]

Hi all,

I want to do an MFE next year but I am already 31 this year and suppose that I got admitted I will be 32 and will look for the first job in FE at 34 years old. So is it too late to enter the Quant career at that age? I have a degree in Applied Maths from a top uni (but GPA is only 3.4 because I worked a lot during the term time), I also have a Master degree in Computer Engineering (with RAship and a few publications). I have been working in many different jobs from engineering to database administrator for 8 years. I wanted to do a MFE for a long time but I keep postponing the plan because I had to support my family financially and do not have the means to go to grad school in MFE. I got married early at 24 and had to work really hard to support my family, now that I had save enough money for the MFE degree but I am already 31 and out of school for so long so will my chance to be admitted and getting a job after graduation be very low? I just did the GRE and got perfect score for Quant section, I also passed level II CFA and will be taking level III this June, I also passed FRM paper I.

 

[ferdowsi]

I was worried about the age factor too, but I got into a few good MFE programs. I think there are a few schools out there that want people straight out of undergrad, but you'll have a decent shot at some top programs.

 

[SYau]

Not late at all.

 

[mqf_asp]

Not late at all.

Thanks guys! nice to hear that!

 

[mqf_asp]

I was worried about the age factor too, but I got into a few good MFE programs. I think there are a few schools out there that want people straight out of undergrad, but you'll have a decent shot at some top programs.

perhaps we can compile the list of those schools that only prefer fresh grad so as to avoid disappointment

 

[xfhe]

Just follow your heart, everything else is secondary.

 

[martingaletrader]

never too late. some quants start in their 40's

 

[Ken Abbott]

I started my MS at age 31. Of course I did it part-time (@ NYU) and didn't have kids at the time. Maturity adds a certain perspective inasmuch as you know exactly why you are taking individual courses.

 

[ferdowsi]

perhaps we can compile the list of those schools that only prefer fresh grad so as to avoid disappointment

The average age at Stanford is very young. Also, from attending a Q&A at MIT, I had the impression that their ideal candidates skewed a little young. That didn't stop me from applying to both though. It wasn't too much more effort, and given how much you'll spend on the process (and on the program), a couple hundred dollars more isn't that big a deal.

 

[Jose T]

I'm in a similar position to you. However, I think I made my decisions much less consciously than you did (so you have that one me ). I just started taking classes part time toward an MS Stats will working in a different industry and eventually made the plunge to full-time and added the MFE.

I'll be 31 by the time I finish grad school (finally!) next year.

In terms of actually getting the degree, I think you'll do fine as long as you stay motivated (always a challenge, especially with the family wanting at least a little piece of your time).

In terms of starting a new career, I actually landed an internship fairly early in the process (my second full time semester) and I've had some encouraging chatter from recruiters (actually had to shoe a couple away b/c I'm not looking for anything full time till I graduate).

I think the biggest thing (at least for me) is psychologically starting at entry level / intern level again. You can know you want your career to change and you can be crazy excited about the new direction it's going in but it's hard to get rid of the little voice in your head reminding you of where you could be on the other side of the street.

But basically, my point is you'll be fine and it's definitely doable. And FWIW, I think getting married young and supporting your family were the best life choices you could have made (again at least they were for me ).