Need some help on selecting MFE

[myownstrategy]

Hello everyone

I am intending to obtain an MFE degree in the year 2012. But I don't know given the current market condition which MFE can help me get a trading job in the future.

Here is my profile:
Age: 24
EE degree in Singapore, GPA 3.6
GMAT: 770
CFA: Level 2
Working in IT infrasturature team for an conglomerate Bank for a year.
Programing and Math are ok

I don't know whether do I have any chance to get into Top 10 MFE in US? since most of them prefers Top US university background
Also, If I apply to an so-called Second-Tier MFE(Boston, GWU, Georgia Tech). what is the job perspective? Is it worth to go?

Thanks a lot

 

[Andy Nguyen]

which MFE can help me get a trading job in the future.

If I apply to an so-called Second-Tier MFE(Boston, GWU, Georgia Tech). what is the job perspective? Is it worth to go?

In the best of time, you can't even expect to get a trading job out of second-tier MFE programs, however you define them.
My suggestion is lower your expectation, identify which you are better than 1,000 other MFE graduates and maximize your focus there. Maybe you will enjoy working in a risk management position. Don't count them out and gun for a trading jobs which have to be earned, not given regardless of which programs you graduate from.

 

[Lin]

Dont apply to tier 2, you have a good GMAT score and decent GPA, focus on essays and recomendations(I cannot overemphasize their importance) and apply to the top 10.
Give it your best shot!

 

[MRoss]

Not sure what qualifies as tier 2. Apply to the top 10 on Andy's list! Don't worry about trading job yet. First see where you get accepted. Besides there is an even better way to get a trading position then a tier 1 school. It's called networking...

 

[Andy Nguyen]

Special care is needed when selecting an MFE program, of course. Use our 2011 MFE ranking as a guide and then spend quality time investigate each program to see if they meet your need. There is no like hearing it from those who are studying it at those programs so read our students reviews of the programs, reach out to the students/alumni via Quantnet/LinkedIn for their honest/private information, arrange to attend open house, sit in a classroom, ask tough questions to administrators.

 

[myownstrategy]

Special care is needed when selecting an MFE program, of course. Use our 2011 MFE ranking as a guide and then spend quality time investigate each program to see if they meet your need. There is no like hearing it from those who are studying it at those programs so read our students reviews of the programs, reach out to the students/alumni via Quantnet/LinkedIn for their honest/private information, arrange to attend open house, sit in a classroom, ask tough questions to administrators.

Hi Andy, Thanks a lot for your supply. Now I am residing in Singapore. And I do see much more risk management positions than quant positions. And quant positions are hiring few people now, For my bank, it's around 2-5, let alone trading. I will adjust my expectation. Thanks for the guid.

 

[myownstrategy]

Not sure what qualifies as tier 2. Apply to the top 10 on Andy's list! Don't worry about trading job yet. First see where you get accepted. Besides there is an even better way to get a trading position then a tier 1 school. It's called networking...

Hi MRoss. Thanks for your reply. The thing for Tier 1 is that most of the hires I know have relevant working exprience. (intern in IB)
hehe. I totally agree with you on networking. I know a few traders in the Singapore region(of course they are all from US). It seems for IB traders, the most important thing is networking instead of skill sets. And traders in prop house don't usually hire MFE grads.......what a dilemma.....what do you think of career in trading? given your exprience. XD

 

[myownstrategy]

In the best of time, you can't even expect to get a trading job out of second-tier MFE programs, however you define them.
My suggestion is lower your expectation, identify which you are better than 1,000 other MFE graduates and maximize your focus there. Maybe you will enjoy working in a risk management position. Don't count them out and gun for a trading jobs which have to be earned, not given regardless of which programs you graduate from.

Hi Andy. Given your exprience. What do you think quant will end up doing in the next 5 years? Quant in my bank does things like optimization, neural networks, genetic Algorithms...But do you think this is going too far for trading?
I don't have much exprience here. Thanks a lot if you can shine some lights on this..

 

[MRoss]

Hi MRoss. Thanks for your reply. The thing for Tier 1 is that most of the hires I know have relevant working exprience. (intern in IB)
hehe. I totally agree with you on networking. I know a few traders in the Singapore region(of course they are all from US). It seems for IB traders, the most important thing is networking instead of skill sets. And traders in prop house don't usually hire MFE grads.......what a dilemma.....what do you think of career in trading? given your exprience. XD

Hah! Trading: An MFE's dream...

 

[bansalmohit]

Whether you get into IB is not the question. Whether you land up being a trader is the question?

 

[myownstrategy]

Whether you get into IB is not the question. Whether you land up being a trader is the question?

I'd say that Quant is very promising in Asia region, but only in terms of risk management and technology...I've seen people with "very-normal-profile" landing in those jobs. But not sure whether algorithm trader job is declining..XD