Masters in Finance (MFIN), MFE or MBA

[JayB]

I am new to this forum. Here is my situation, I have just graduated w/ a finance degree. I have an idea as to what I would like to do and this is to do (eventually) trading (be it portfolio management, hedge fund, etc). I am in the process of re-taking calc classes because I have never taken calc 2 before and also programming classes (was a comp. sci. major) at a community college (since I have no jobs lined up) and have aspirations to go to grad school. I am aware that calc 2 is pretty much the minimum requirement to get into an MFIN program. My question is should I attempt to fulfill all of the math and programming requirements and try to get into a MFE program, or just try to get a MFIN degree and be done? My expressed interest is basically how the stock market works(derivatives, bonds, etc.) and am not really sure if the MFIN degree is really worth the time and money.

:sos::sos:

I am aware I never mentioned MBA, that is just in case neither works.

 

[Stefan Zota]

First you need to choose a direction. The degrees you are evaluating lead to different careers, require different skills etc. If you want to get some ideas of MFE, you can read many threads on this forum. There are also threads that relate to MBA vs MFE.

You should read curriculum for some classes, talk to some students. There are many useful introduction books in master reading thread. You can even buy one of them ...

 

[buddyforall]

Depends on where you have done your bachelors in finance and what have you learnt there.If your degree in solid its makes more sense to

a.)Get a Job in Finance in something closer to your interest and pursue MBA few years later.

b.)Get a MFE from Top 5 places right now and graduate when the market is better hopefully.

 

[JayB]

Well, my original plan was to take care of the quant. requirements for the Master's in finance. I have seen this website and found out that you all frown upon this degree. This is where it left me confused. My ultimate aim is to take the best possible way to get into trading (long-term) and thought the Master's in finance would do the job. Now, I am not so sure. In this case, which degree would more than likely give me an opportunity to trade?

To buddyforall, I am seriously considering those two options you have presented. I'm just wondering which of these two would be more releveant.

I am just curious, why is the master's in finance degree so frowned upon?? I am just trying to understand this fully.

Thank you all for your help!!:D

 

[bluechimp]

I think MFin degrees are 'frowned upon' (for lack of a better word) because of the perceived weakness in mathematics rigor in comparison to their financial engineering program counterparts. To some extent, I think that's the case, but not always. For example, Princeton's MFin program can easily be tailored into an extremely mathematically demanding program, given the structure of their curriculum.

Personally, I think the line between all these degrees (MFin, quantitative finance, financial engineering, financial mathematics, the list goes on..) is getting blurrier, so you'd need to do your homework: go to their website and check out their curriculum, see the description of the required courses and get a feel of the program's focus. Even better, contact the career advisor there and ask where have graduates from the program go over the years -- the more students end up in roles that you've been eyeing, the better suited is that program for you. With respect to MFin programs, some will be able to offer you opportunities to work at excellent places, some will be just a waste of money. This is also the case for financial engineering programs.

Now, to that end, you mentioned that you wanted to trade. You need to be more specific here. Being an equities trader on some chop shop probably don't require much other than a set of eyes and a huge dose of testosterone (I kid, I kid..) However, you'd probably want to have more than just that if you want to do algorithmic trading. If you only want to understand '.. how the stock market works (derivatives, bonds, etc.).. ', I'm not sure you'd need an MFin or MFE for that

 

[bigbadwolf]

Well, my original plan was to take care of the quant. requirements for the Master's in finance. I have seen this website and found out that you all frown upon this degree.

Whether people here "frown" on it or not is irrelevant to what you want to do. The perceived "frowning" may have something to do with the condescending attitude quantitative types have towards everything that is not mathematical. And it's true that an M Fin degree will probably not do the trick as far as getting you a quant job is concerned (though as bluechimp has pointed out, the distinctions are becoming blurred). But you want to trade rather than being a quant. In this connection a non-quant qualification may suit you better particularly as math is not your strong suit anyway. A final point that reflects my present bias is that math may not be applicable in trading environments or only to a very limited extent. The experience, hunches, and local knowledge that a seasoned trader brings to bear on his decisions may be infinitely more applicable than some abstract model that is empirically untested, or even if it is applicable, rests on all sorts of tenuous market assumptions.

 

[JayB]

Now, I understand. Thank you for the input.