Oxford Econ vs Imperial RMFE (for Research)

[BigClout]

The title pretty much says it all. I really don't know which one to pick. I'll emphasise that this is purely for ultimately applying to roles in Europe, where MFEs don't seem to be all that popular.

Currently, my thought is Oxford Econ. Even though it is longer and technically less relevant, it seems like the maths and stats are more robust here. The programming piece seems relatively light but if there is anything that can be self-taught and self-evidenced, it's programming. It is also cheaper (especially when you bring cost of living into the equation), has a better university name, won't suffer from the business school stigma and has many more exit opportunities (I've seen graduates becoming traditional researchers, PMs, economists, traders, but tbf I haven't seen any become Quants but that could be just due to the nature of people who take this course as opposed to the actual course).

I'd love to know your thoughts. Anybody know anyone who did either who managed to become a Researcher at a firm like Jane, Citadel etc?

 

[Arbitrary]

I think Oxford is the clear choice (Prestige, Course Content, Career Outcomes). The name of your university plays a large role for getting invited to interviews, interview performance is then up to yourself. Plus, an economics degree leaves the door open for other jobs - Classic Finance, Consulting, etc (anyone would hire an Oxford Econ graduate, Risk Management & FE is probably too niche). Programming skills seem to be a hard requirement nowadays for most buy-side firms, so be sure to take on independent projects and really get good. The fact that the Econ program is more math and stats heavy than the RMFE will be very beneficial, just be sure to mark it clearly in your CV or application somewhere.

 

[BigClout]

I think Oxford is the clear choice (Prestige, Course Content, Career Outcomes). The name of your university plays a large role for getting invited to interviews, interview performance is then up to yourself. Plus, an economics degree leaves the door open for other jobs - Classic Finance, Consulting, etc (anyone would hire an Oxford Econ graduate, Risk Management & FE is probably too niche). Programming skills seem to be a hard requirement nowadays for most buy-side firms, so be sure to take on independent projects and really get good. The fact that the Econ program is more math and stats heavy than the RMFE will be very beneficial, just be sure to mark it clearly in your CV or application somewhere.

Hey mate thanks very much for coming back!

I always thought Oxbridge would probably give you a shot at an interview almost regardless of what you took, but good to have it confirmed.

I will definitely have to be careful on my application but it seems like people in the industry do know that the MPhil is a pretty serious course. It’s less straightforward for sure but it definitely gives more options and a greater name.

I’m also considering the MSc in Financial Economics. I’ve spoken with some people doing both courses and it’s been suggested to me that this one actually has an even greater mathematical focus than the MPhil. It’s also just 1yr (at the expense of it being prohibitively expensive and probably the most competitive course provided by Oxford not name PPE). I’ll think about that too.

 

[Arbitrary]

The MSc FinEcon at Oxford is honestly not that mathy - however it is more financy which is a plus. A good alternative is the MPhil Finance at Cambridge. Just as competitive and prestigious but way more math and quant heavy - also only 9 or 10 months if I recall correctly.

If you're really looking for masters specifically tailored for Quant Finance in the UK (especially research on the buy-side) go for Imperial MathFin, Oxford Mathematical and Computational Finance and UCL Computational Finance in that order. I believe Imperial MathFin is the clear leader for quant fin masters with great course curriculum and career resources/industry connections, followed by Oxford due to its prestigious name. UCL is not as prestigious but has a great computer science department. These courses will also teach you the programming and machine learning/data science skills necessary for current buy side requirements

 

[BigClout]

The MSc FinEcon at Oxford is honestly not that mathy - however it is more financy which is a plus. A good alternative is the MPhil Finance at Cambridge. Just as competitive and prestigious but way more math and quant heavy - also only 9 or 10 months if I recall correctly.

If you're really looking for masters specifically tailored for Quant Finance in the UK (especially research on the buy-side) go for Imperial MathFin, Oxford Mathematical and Computational Finance and UCL Computational Finance in that order. I believe Imperial MathFin is the clear leader for quant fin masters with great course curriculum and career resources/industry connections, followed by Oxford due to its prestigious name. UCL is not as prestigious but has a great computer science department. These courses will also teach you the programming and machine learning/data science skills necessary for current buy side requirements

You see, when I got told that about Oxford MFE, I felt like it couldn’t be true so I’m waiting to get sent some problem sets to compare. Good to see someone else shares a view that I suspected.

The Cambridge MFin looks similar looking at it from an outside perspective, but you seem to be in a much better position to know than me so I’ll definitely take what you’ve said into account. I’m also considering LSE Econometrics and Mathematical Economics, which I’ve even been told from people who take the MPhil in Econ that it’s even more mathematically robust.

And yes i totally agree that the Oxford MCF is the best after Imperial Math Fin. I’ve actually already applied there but I just have a huge fear that I might not get it. If I did, it would almost certainly be due to my professional experience as opposed to my academic experience (not that I have poor academic experience, I did well in almost all my Maths modules in university, but competing against students who have done Maths or Computer Science at similar or better unis sounds like an uphill battle). I agree that Math Fin is the best and I am trying to see if I can switch from RMFE to it, although the departments are being very difficult with me.

I am surprised by the view of UCL CF thiugh. I looked at it and thought it was basically interchangeable with RMFE. I’ve applied for it so should hear back eventually, but I didn’t think it would be that great of a course compared to RMFE. It has more of the relevant stuff in the core modules of the degree yes, but it looks like both courses teach the same thing and the amount of maths students that end up in RMFE give me some confidence that it isn’t a proper “business school” degree.

I’m wondering if I just should avoid all the complication and just do a Masters in Statistics, given I’d definitely get onto a good one (LSE, Imperial at least, maybe Oxford if I’m lucky) and the only thing I’d need to watch out for is if they teach high performance programming (i.e.: C++), rather than faffing around trying to figure out which of these pretty different courses I should do or will get into.

Could I ask out of interest, what was your background? Are you from the UK as well?

 

[Arbitrary]

You see, when I got told that about Oxford MFE, I felt like it couldn’t be true so I’m waiting to get sent some problem sets to compare. Good to see someone else shares a view that I suspected.

The Cambridge MFin looks similar looking at it from an outside perspective, but you seem to be in a much better position to know than me so I’ll definitely take what you’ve said into account. I’m also considering LSE Econometrics and Mathematical Economics, which I’ve even been told from people who take the MPhil in Econ that it’s even more mathematically robust.

And yes i totally agree that the Oxford MCF is the best after Imperial Math Fin. I’ve actually already applied there but I just have a huge fear that I might not get it. If I did, it would almost certainly be due to my professional experience as opposed to my academic experience (not that I have poor academic experience, I did well in almost all my Maths modules in university, but competing against students who have done Maths or Computer Science at similar or better unis sounds like an uphill battle). I agree that Math Fin is the best and I am trying to see if I can switch from RMFE to it, although the departments are being very difficult with me.

I am surprised by the view of UCL CF thiugh. I looked at it and thought it was basically interchangeable with RMFE. I’ve applied for it so should hear back eventually, but I didn’t think it would be that great of a course compared to RMFE. It has more of the relevant stuff in the core modules of the degree yes, but it looks like both courses teach the same thing and the amount of maths students that end up in RMFE give me some confidence that it isn’t a proper “business school” degree.

I’m wondering if I just should avoid all the complication and just do a Masters in Statistics, given I’d definitely get onto a good one (LSE, Imperial at least, maybe Oxford if I’m lucky) and the only thing I’d need to watch out for is if they teach high performance programming (i.e.: C++), rather than faffing around trying to figure out which of these pretty different courses I should do or will get into.

Could I ask out of interest, what was your background? Are you from the UK as well?

Make sure you look at the Cambridge MPhil in Finance (MPhil in Finance - PhD & research masters - Cambridge Judge Business School) not the MFin (requires 2+ years of exp.). The MPhil is much more quant heavy

I dont know how likely it will be for Imperial to allow you to switch to the MathFin as they have very different entry requirements and are housed in different faculties. To be safe you could simply apply to the MathFin (if you can afford the App. fee), applications are still open.

A masters in statistics is a good alternative to a masters in econ - especially for quant. Still the Imperial MathFin or Oxford MCF would be better than a Stats degree in my eyes. But a stats degree at Oxford or Imperial is also very good. I would suggest: If you can afford it, apply to as many programs as you can. Just like with internships, its a numbers game.

My background is in Comp Sci from DACH region, but internships have always been finance related, so I have decent experience in both. I applied to masters programs in both US and UK, including traditional Masters in Finance (non-quant) courses in the UK. However, I am not a seasoned quant - im an applicant just like yourself. So take everything I say with a grain of salt because I am new to this field as well and not experienced with everything. Although I do think I have a general idea through all of the research I did while applying

 

[hoeneim]

The title pretty much says it all. I really don't know which one to pick. I'll emphasise that this is purely for ultimately applying to roles in Europe, where MFEs don't seem to be all that popular.

Currently, my thought is Oxford Econ. Even though it is longer and technically less relevant, it seems like the maths and stats are more robust here. The programming piece seems relatively light but if there is anything that can be self-taught and self-evidenced, it's programming. It is also cheaper (especially when you bring cost of living into the equation), has a better university name, won't suffer from the business school stigma and has many more exit opportunities (I've seen graduates becoming traditional researchers, PMs, economists, traders, but tbf I haven't seen any become Quants but that could be just due to the nature of people who take this course as opposed to the actual course).

I'd love to know your thoughts. Anybody know anyone who did either who managed to become a Researcher at a firm like Jane, Citadel etc?

If you can do Msc Mathematics and Finance at Imperial, otherwise do any degree in Math, Stats or AI. Econ is good for macro funds but not the best for other stuff. RMFE has good academics but does not have a strong network in quant finance, and as a result is not a target program for quant hedge funds. Also employers are biased against business school departments in general, and prefer math, and computing departments.