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Message: <blockquote data-quote="psuhoops" data-source="post: 88590" data-attributes="member: 2937">Here's my take:  Demand for bespoke derivative products will continue to decline as the demand for transparency from the banks increases along with liquidity demands from investors will reduce demand for MFEs in this area.  Hedge funds and some prop trading areas already hire Undergrad Comp Sci majors to do programming tasks much cheaper than an MFE; the cost savings vs hiring an MFE with no market experience should ensure this continues.  Research into areas such as fractals and development of new models that better describe the market seem to be very limited; the continuing "refurbishing" of flawed stochastic models and emphasis on theory vs practical as many mentioned above results in the need for the MFE grad with no experience to learn how the market and finance actually works.   The above sound very negative; for those with no experience in the market and little or no understanding of finance and/or economics I believe getting an MFE is not a great decision.  I would recommend first getting a job in finance; both to see whether you actually like the subject and to learn the basics.  After working for a few years, with a realistic idea of what may be possible future positions, then a MFE may be an option; however, a CFA or MBA  might be a better choice as well.</blockquote>