MFE future prospects for non quantitative background

[Bob K]

Hello,

I'm new and just wanted to get some advice from you guys.

Could anyone tell me:

* professional/academic backgrounds of students who got into the MFE programs and landed jobs after finishing it, i.e. I don't have any finance related experience nor any quantitative work accomplishments, except that I have an MS in engineering and an MBA, and therefore concerned whether I'll be able to get admission to any programs and a quant job after it.
(I have business development experience in Asia)

* what the career progression is like for people who pursued their career after finishing the MFE program. I noticed some people mentioning that w/o a Phd, you won't last long in the market.

Thanks!

 

[Andy Nguyen]

I find the notion that "w/o a Phd, you won't last long in the market" ridiculous. Majority of people on Wall Street don't have a PhD. I'm willing to bet that the majority of CEO on Wall Street don't have PhD either.

A lot of people with only an undergrad degrees have a successful career on Wall Street. There is no doubt that MFE isn't as successful or more. On the other hand, a PhD won't guarantee a success.

For what it's worth, what you mentioned is that the entry point to Wall Street has been increased. You need either an MFE or PhD to gain an entry ticket to the quantitative finance field.

If you have the time, money, drive, I would wholeheartedly suggest that you do PhD. That will do you good in the long term. Other people have different approach on how they enter the quant finance space and at the moment, MFE gives the best return for your time/investment.