MFE vs Junior HF Analyst

[ExcitingFrog]

Hi all, I am looking for some career advice as a new graduate. I finished my bachelors a year ago and have been working for a few months in a junior quant analyst role with a quant hedge fund. For reference, this position is supposed to lead to a junior quant research position within 3 years. I have always been planning to get my MFE or Masters in Finance but I am also considering the merits of staying in the job I have now.

In my mind the advantage of the MFE program is it would fill in some gaps that I have from my undergraduate education and allow me start as a junior quant researcher directly out of school. It would also give me the opportunity to develop skills which would make me more marketable to join other firms in a variety of roles. Where as the advantage of the position I am in now is that as long as I perform well I am likely guaranteed that role in 2-3 years without having to forgo salary and pay tuition. However, I feel that lacking that education will hurt me if I wanted to switch firms down the line and would materially hurt me through a lack of academic knowledge.

I would love to hear insight of some more experienced people here. Thanks

 

[weab]

Disclaimer: I am not experienced but I hope you don’t mind me posting my thoughts. I think it would help if you gave more information on what and where you studied for your bachelors. Also what level HF are you working at now? In general, I wouldn’t forgo pay and pay tuition for an MFE especially when you are already in a job at HF where most people who go to MFEs can’t even get.

 

[zeroquant]

Some MFEs have most of their classes in the evenings since the lecturers are industry professionals. So you could do both at the same time.

How different are the scopes of QA and QR at your current firm and QR roles at other firms? If other firms also see it as a logical progression in terms of career then I think having the experience is far more important than the schooling.

 

[jarryds]

Why make this decision now? You are qualified for the job you have now and are on the path to a job you are interested in. Work this route until you want a change. If that time comes and you find that a lack of a MS is holding you back, then go back to school.

 

[ExcitingFrog]

Disclaimer: I am not experienced but I hope you don’t mind me posting my thoughts. I think it would help if you gave more information on what and where you studied for your bachelors. Also what level HF are you working at now? In general, I wouldn’t forgo pay and pay tuition for an MFE especially when you are already in a job at HF where most people who go to MFEs can’t even get.

I don’t wanna share too many details here, I’ll pm you

 

[ExcitingFrog]

Some MFEs have most of their classes in the evenings since the lecturers are industry professionals. So you could do both at the same time.

How different are the scopes of QA and QR at your current firm and QR roles at other firms? If other firms also see it as a logical progression in terms of career then I think having the experience is far more important than the schooling.

Yes I have considered pursuing the degree and approaching my employer about doing that, however it would limit which schools I could attend. As far as the difference between QA and QR, at this firm QAs are all junior employees who are 1-2 years out of school whereas QRs are experienced hires. The titles are given regardless of what team you are on within the firm

 

[ExcitingFrog]

Why make this decision now? You are qualified for the job you have now and are on the path to a job you are interested in. Work this route until you want a change. If that time comes and you find that a lack of a MS is holding you back, then go back to school.

That’s a fair point. I guess the reason to do it now is 1) the academic knowledge is still fresh in my mind and it wouldn’t be a challenge to go back and 2) by getting the degree sooner rather than later I estimate I earn ~100% more per year than I am now. I am not sure I would even be able to earn that should I graduate to a QR position in 2-3 years whereas starting salaries are well documented and consistent for top MFE programs