MBA or MFE with a engineering PhD?

[Dan]

Hi all,

I have seen the general comparison between MBA and MFE. I have to ask for such a comparison for my specific case.

I have a Ph.D in electrical engineering which was done on highly quantitative subjects. I have some exposure to economics and finance in the research. I also hold a master in statistics and a BS in physics. After working as an engineer in the telecom R&D for several years, I would like to try a new career in finance. Quant seems an immeidate match for me. However, I do want to broaden my horizon and choices. So I am considering to get a new degree, either MBA or MFE.

Could anyone comment on such a choice? If I decide to do quant, MFE is surely a better choice than MBA. The skills learned in the MFE program are highly valuable for quant. However, do I really need the degree itself? On the other hand, does MBA add any value to me if, after seeing the broad picture, I stick with quant?

Thanks a lot!

 

[alain]

Don't waste your time. Hit the job market for a quant type position in the financial industry. Send an email to Dominic or to any of the head hunters that post on the forums. They should be able to help you.

 

[EricFleming]

Hi all,

I have seen the general comparison between MBA and MFE. I have to ask for such a comparison for my specific case.

I have a Ph.D in electrical engineering which was done on highly quantitative subjects. I have some exposure to economics and finance in the research. I also hold a master in statistics and a BS in physics. After working as an engineer in the telecom R&D for several years, I would like to try a new career in finance. Quant seems an immeidate match for me. However, I do want to broaden my horizon and choices. So I am considering to get a new degree, either MBA or MFE.

Could anyone comment on such a choice? If I decide to do quant, MFE is surely a better choice than MBA. The skills learned in the MFE program are highly valuable for quant. However, do I really need the degree itself? On the other hand, does MBA add any value to me if, after seeing the broad picture, I stick with quant?

Thanks a lot!

with an EE PhD you can plunge right in. An MFE would be overkill. eric.fleming@exemplar-partners.com

 

[dstefan]

If you are to work with a headhunter, I know that the people from Exemplar Partners, where Eric Fleming works, are good.

 

[Xman]

Hello all,

It's my first time here, and I've got the same question.

I have a PhD in aerospace engineering, my entire program was in numerical modeling (CFD, or computational fluid dynamics), dealing with PDEs (Navier Stokes, Maxwellian, ...) plus some statistical methods ("Direct Simulation Monte Carlo").
All my career has been highly related to quantitative work and programming: simulation staff scientist in a semiconductor company, senior software developer in a search engine company, test automation QA in a telecom company, and recently, a combined role of QA, data analyst, and IT support in a financial service firm in Manhattan.

I have made up my mind to achieve a higher goal in financial world for my future career, and I've figured that quantitative positions sound like a good fit for me.

I would think that I already have pretty strong math and analytical knowledge and advanced level in programming skills. But several recruiters I have contacted told me that, since I do not have direct quant experience, it's not very likely for me to get into the industry.

I'm not sure if I should apply for Baruch's MFE program for some training. As a matter of fact, I looked at the math courses provided by the program, except the ones with stochastic processes, I had taken all the others before.

Also, it looks some headhunters are mentioned here but with not very much contact info. Could anyone provide more details? (I did spend too much time searching around here, so thanks in advance!)

Many thanks again for all the advice/comments.

 

[alain]

dude, you didn't look too hard. There is a post just above yours with a head hunter contact info. Give him a call.

 

[Dan]

timing

Thank all of you for the valuable information.

Is now a bad time for a new entry into quant since the market is perhaps heading down? Although, as a good quant, you expect to make money regardless of the market trend, there would be fewer investors in the market. When I talk to a few friends in quant, they are saying the hiring has been tight for a while and it does not look promising for the near future.

So is it a good to go back to school for some training?

 

[Andy Nguyen]

If you like this career and are in for long term, not for a quick buck and realize that market goes through cycles, then you won't ask this question.
Good people make money during any market condition. In this current market, it's a matter of liquidity, funding issue, not for a lack of opportunity to make money.

If you can get a job in this market, by all means, go for it. The issue of going to school to shelter the storm is that you can't predict the timing i.e what if you stay in school for 2 years and graduate into a worse market condition ? It's something we can't control over. If you enroll in a good program, you will find jobs eventually regardless of the market condition (may take a bit longer, for a bit less money).