Part-time or Full-time Top MFE?

[Ryan]

Hi,

I'm now working in a major IB as trading support for about 1 year (day to day support and build analytical/reporting spreadsheet for traders and MO). I have a CMU IT master already. Like many people, trading is the career I really want to pursue. So I want to pursue a MFE degree to develop my career. I've applied these programs:

Full-time: MIT MFin, Princeton MSF, CMU MSCF, UCB MFE
Part-time: NYU, Columbia MathFinance, CMU MSCF

If I get admission to MIT or Princeton, it is a no-brainer decision. But how about other program like MSCF? Should I take full-time ($100K and 1.5 year opportunity cost) or part-time (sponsored by company)？

Pros of full-time MSCF: I only need devote 1.5 year and then can break into FO without big problems. Good chance to get in because my referral is one of MSCF adcom.

Cons of full-time MSCF: I already have a master degree in CMU. Another one won;t increase my alumni base significantly. Huge cost.

Pros of part-time: no cost and opportunity cost.

Cons of part-time: many people say it is hard to change a job b/c part-time degree. Maybe switch to quant is easier (I have couples of quant interview now) but not trader.

If you vote for part-time, should I go to NYU, CMU or Columbia? I know Columbia MathFinance program is not as good as other peers. But for part-time, career service won't help a penny so I think school brand name is more important.

What's your thought? Thanks.

 

[Andy Nguyen]

If you have applied to those schools already, can you help me out by adding your cases to our Tracker
You are already working in finance and I see very little benefit for you to go FT. The choice of which program to do PT would come down to which has the best career support and channel that lead to the role that you want. That would be how I would approach it but it appears you would prefer a brand name above all.

There is no guarantee you will get a trading role from any of the program above. If anything, it is getting harder than ever to get a trading role. You may end up doing exactly the same IT role and that's something you should always keep in mind.

 

[Ryan]

You mean I would end up in IT role even take full-time MFE like MSCF or Princeton Mfin?

If you have applied to those schools already, can you help me out by adding your cases to our Tracker
You are already working in finance and I see very little benefit for you to go FT. The choice of which program to do PT would come down to which has the best career support and channel that lead to the role that you want. That would be how I would approach it but it appears you would prefer a brand name above all.

There is no guarantee you will get a trading role from any of the program above. If anything, it is getting harder than ever to get a trading role. You may end up doing exactly the same IT role and that's something you should always keep in mind.

 

[Andy Nguyen]

I said "you may", not "you would". Do you have any reason to believe there is a direct route to trading roles from those programs, or any program?
Why would anyone give you a trading position just because you got a degree from X? You have been working closely to traders and why haven't they promoted you?

If the reason is because you don't have the training to trade, then shouldn't your most important criteria for picking school is to learn something that will make you a suitable role for trading?

I'm sure you are not the only one in these programs wanting to be a trader. Those coming out and into a trading roles are few and far between.

Also I think these words of advice are pretty good How to Get a Quant Job - Advice from Wall Street Executives Quant Network

 

[Ryan]

Thanks for the advice. That article is pretty useful.

I said "you may", not "you would". Do you have any reason to believe there is a direct route to trading roles from those programs, or any program?
Why would anyone give you a trading position just because you got a degree from X? You have been working closely to traders and why haven't they promoted you?

If the reason is because you don't have the training to trade, then shouldn't your most important criteria for picking school is to learn something that will make you a suitable role for trading?

I'm sure you are not the only one in these programs wanting to be a trader. Those coming out and into a trading roles are few and far between.

Also I think these words of advice are pretty good How to Get a Quant Job - Advice from Wall Street Executives Quant Network