Hi, I hope to get some opinions of the relative value of an MFE vs a Master's in statistics for my background/interests. I found this forum through the Baruch MFE site and it is definately the most active and knowledgable I have come across. I understand that many people associated with the Baruch MFE are members of this forum, and will keep this in mind when receiving any advice so kindly given 
I have a computer science background and have been a software developer on the street for about 7 years. For roughly the last 3 years, I've worked on an equities stat arb desk implementing strategies, integrating trading systems and assisting in research (data processing, etc). However, I haven't done much in the way of actual modeling because the amount of math I remember from undergrad is somewhat limited. I'd like to be more productive in this area because the topics interest me, and also because it will make me more competitive and useful in front-office positions. However, I recognize that my technical ability will always be where I have a competitive advantage.
Given that, and that I would prefer to stay within equities/equity derivitivies, I have thinking that it might be a better idea to study statistics rather than pursue an MFE, which is sort of the default these days for front-office people. For instance, the Zicklin MS stats and Columbia MA Stats (not to be confused with MA math finance) are more focused on statistics, but include applications to financial modeling, and are open ended enough to allow electives in other things I see as being useful on equities quant desk, such as optimization. Technology wise, these programs tend to focus more on R/S+/SAS than C++, but I have many years of experience in C/C++, Perl, Java, Ksh etc in a unix environment, so I'm not concerned about that.
I guess I am asking, are there flaws in my analysis here? I am sure I would get more calculus/pde's in the MFE, and perhaps some better branding, but does it really mater if I want to stick with equities/stat arb? What do you think? I feel I can put together a reasonable application to either an MFE or Stats program with my experience and GRE (790Q/710V).
I have a computer science background and have been a software developer on the street for about 7 years. For roughly the last 3 years, I've worked on an equities stat arb desk implementing strategies, integrating trading systems and assisting in research (data processing, etc). However, I haven't done much in the way of actual modeling because the amount of math I remember from undergrad is somewhat limited. I'd like to be more productive in this area because the topics interest me, and also because it will make me more competitive and useful in front-office positions. However, I recognize that my technical ability will always be where I have a competitive advantage.
Given that, and that I would prefer to stay within equities/equity derivitivies, I have thinking that it might be a better idea to study statistics rather than pursue an MFE, which is sort of the default these days for front-office people. For instance, the Zicklin MS stats and Columbia MA Stats (not to be confused with MA math finance) are more focused on statistics, but include applications to financial modeling, and are open ended enough to allow electives in other things I see as being useful on equities quant desk, such as optimization. Technology wise, these programs tend to focus more on R/S+/SAS than C++, but I have many years of experience in C/C++, Perl, Java, Ksh etc in a unix environment, so I'm not concerned about that.
I guess I am asking, are there flaws in my analysis here? I am sure I would get more calculus/pde's in the MFE, and perhaps some better branding, but does it really mater if I want to stick with equities/stat arb? What do you think? I feel I can put together a reasonable application to either an MFE or Stats program with my experience and GRE (790Q/710V).
