MS in Mathematics?

[rangersfan]

On quant jobs I almost never see Financial Engineering or Math in Finance in desired educations. My friend in industry says that every quant he knows got a masters in just math, physics, or computer science. Why does everyone on this site seem to be so fixed on the financial engineering masters? Am I wrong to say that the more dedicated math students are in pure math programs? I am American and don't understand what the lure to financial math programs is. Please let me know your thoughts on getting a masters in applied math or even just math from a top US school.

 

[aricher]

Speaking with people in the industry, yes, the majority have a masters in math/stats/physics/comp-sci. In my opinion, the main difference between the two are one is a professional masters (career oriented, focused on placement within financial engineering). On the other hand, a masters in math/stats/etc are more related to academia and research, unless the program specifically says w/ Co-op or has a work term, than they most likely won't help you place in the job market as compared to a professional masters program.

Ultimately it depends on what you want, typically these professional masters programs tend to be much more recognized within recruiting but also come with an expensive price tag. However, getting a masters in a field such as math/stats/applied math can open much more doors in your career and won't set you back in terms of any qualifications.

Would love to hear other opinions on this, as I too am considering both possible routes.

 

[Andy Nguyen]

I am American and don't understand what the lure to financial math programs is. Please let me know your thoughts on getting a masters in applied math or even just math from a top US school.

The number of people working on Wall Street with a quant finance, MFE degree is a small fraction compared to people without those quant degrees. In fact, many quant graduates already have a graduate degree in math/stat/CS or another STEM fields.
The value of top quant program is in their alumni network and connection with employers. This is why many have very stellar job placement record and attract top tier applicants from oversea.
If you are an American graduate, I would say get a top STEM degree and then apply to quant jobs. If you are similarly qualified, you should get a good chance.