MFE Vs MBA

[biglebowski]

All,

I need some help from you to make the right career choice between MBA Vs MFE. Here's my brief bio:

B.S. (Computer Sc)
Working as Associate, Technology for a big tech firm for 1.5 yrs
M.S. (Computer Sc)
Working as Software Engineer for a small tech company 2.3 yrs

I have good programming background and good but not extremely deep math background. Also, I would rate my communication skills as medium (on a scale of low, medium, high). I'm interested in finance and maths. But here are a few of my questions:

- Wat are my chances of getting into a good school with my profile?

- I'll be getting into MFE a little late at the age of arnd 29. Mostly people do it right away after their bachelors, do u think MBA might be a better career choice at this age?

- With MFE you're restricted to only jobs in finance but with MBA is more broad in scope. Is that limiting my career?

Please provide your inputs to weighing MBA Vs MFE as a career choice for me.


Thanks for your help!

-Gaurav

 

[IlyaKEightSix]

Why do you need an MFE as it stands? MS Comp Sci is damn strong. I'm also not sure what an MBA gets you besides some accounting skills.

And you can always hire an accountant.

I worked for a guy who had a BS in EE from Lehigh and an MS in math from NYU.

And he was the best boss I ever had.

 

[financeguy]

MFE will prepare you for quant careers in finance. The jobs you'll be targeting will be overwhelmingly in the capital markets realm, as opposed to investment banking. Some examples are quant (both buy and sell side), trader, structurer, market risk management. If you love math, have great technical skills, and want to apply these to finance but feel you just don't know anything about the field, you could be a great fit for a MFE. I wouldn't worry about your age; not everyone comes from undergrad - there are plenty of career-changers.

MBA will of course allow you to choose what field to focus in. You'll have your first year to knock out core coursework while you decide what you want to concentrate in. Some options other than finance are strategy, organizational behavior, marketing, accounting, operations management, etc. I am assuming here that you would be looking to concentrate in finance. If that is the case, the MBA will make you a candidate for associate positions in investment banking (corporate finance) as well as sales and trading. Generally the S&T jobs out of MBA programs are less quantitative than those you'd find out of MFE programs, but with your technical background you could probably land a sell side exotics options trading gig out of a top notch MBA and a market turnaround. A couple things to consider about MBA programs. First, if you're not at at least a top 10 program, don't waste your money. Second, a big reason people go to MBA programs is to be part of the professional network of that school's MBA grads (this is not so at MFE programs, which do not have strong alumni networks). Also, you'd be more likely to land a sales job specifically out of MBA.

So, really, what it comes down to is what you want out of a degree. You should also definitely explore what options you might have without a degree at all before you jump into another graduate program.

 

[biglebowski]

Thanks for your replies! I'm doing some more research to see what will fit my interests.

 

[cdr]

Prospective MBA Student

Hi Guys,

I have been following the thread and I have decided to post my case.

I'm a Software Engineer and have 6 years in the consulting business. I'm specializing in optimization systems aimed at enhancing Supply Chain Management. I have implemented systems that involved from mathematical programming (using tools such as CPLEX) to Artificial Intelligence algorithms. In my spare time I have been researching and developing algorithms for trading futures and now I want leverage my experience to pursue a job in the banking industry (or investment management industry). Working in Barcelona, Spain, as a IT manager, I haven't had contact with the financial world, so a year ago I decided to apply to an MBA in the US to fulfill my passion and become a professional algorithm trader.

After considering MFE and MBA, I have finally decided to apply for a MBA program since I believe it will provide me with the opportunity not only to switch my career while maintaining my managerial level but also to acquire a deep know-how in Marketing, Finance and Organization Behavior. In the long term, I’d like to start my own business.

I've done the GMAT and TOEFL and now I'm researching different schools (NYU, Cornell, Carnegie Mellon, Berkeley, etc). However, I haven’t found a program that include quantitative or algorithmic trading courses. I’d like to know if there is someone with similar interests and background who have earn an MBA from one of these schools. I need help to craft an attainable strategy to achieve my objectives. Any advice will be appreciated.<o:p></o:p>

Thank you.

 

[Alex.K]

I know Wharton (University of Pennsylvania) and Graduate Business School (U Chicago) had some options for MBA with coursework in Quantitative Finance, so check those out. In my modest opinion, if you are already good programmer, it'll pay off to do a program which will teach you more about finance (and also good amount of statistics) so MBA sounds like a good choice for you. Good luck!

Mes que un club

 

[GoIllini]

After considering MFE and MBA, I have finally decided to apply for a MBA program since I believe it will provide me with the opportunity not only to switch my career while maintaining my managerial level but also to acquire a deep know-how in Marketing, Finance and Organization Behavior. In the long term, I’d like to start my own business.

For someone with six years of experience, this seems like a natural choice.

Carnegie-Mellon has an excellent MBA program, and they allow you to pick up an MSCF at the same time. This would seem like a really good transition from technology to business, IMHO. A typical bulge-bracket investment bank would see a Carnegie-Mellon graduate with your background as a very strong candidate- especially if you wanted to work in sector-specific research. You can spend three or four years there and then go work for a hedge fund, or if you're really good, start your own investment management business.

And finally, if the finance job market sucks when you graduate, CMU also gives you a good Plan B- the school has a lot of connections to technology firms.