MS in Data Science or MFE


New Member
I've been working in retail banking for more than 6 years, my education is MS in Statistics. In the first 4.5 years, I was a statistician in operational risk team. My job was about building statistical models and performed data analysis. Then I felt a little bored, joined my current team, a marketing strategy team focusing on building advanced statistical models to support different product teams. The job is stable ( big retail banks), average salary, and work-life balance is good. Since I do have a lot of time (work load is minimum), and would love to have a part time degree program, so I am planning to apply an online master. But I am not sure which one is worthier, MS in DS or MFE. My current job is more related to DS, however, I am more interested in Econ/ Finance. In my spare time, I devote most of my time to self-education in investment, am very interested in both macro economy and quantitative investment techniques. If I went with DS degree, highly likely, I will find a new job as a Data Scientist after I am done with the program. Possibly I can get a good package in bay area, which currently I am located at. But I never really enjoy a DS job. In my opinion, most of DS jobs are supportive roles, I can definitely see the bubbles of DS. However, people around me keep telling me, MFE is kind of outdated. We all know that the best time for quant job passed already. But comparing high tech, I prefer working in finance industry. If I stayed in banking/ finance industry, I assume MFE will be more helpful. Also, I am very interested in the curriculum itself. It will be a big investment of both money and time. BTW, I do not consider any MBA program. Due to my introverted personality, I don't see corporate ladder is a realistic option for me. I would love to have a stable and long career in finance world, not dream to earn tons of money to be rich. Working in something I am really interested in is more meaningful for me than working for money only.

Please share your thoughts. Thank you so much!!