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If you are an international applicant who wants to work at a hedge fund and prop shop, you are better off getting a quantitative degree at a top university than getting an mfe. Most of the people that I know working at prop shops and hedge funds do not have mfes. They typically graduated with a cs/math degree at a top university like mit, cmu, and princeton. As I said before, I have spoken with several people who work at these firms and they prefer to hire people with traditional quantitative degrees. Even if it's princeton or mit master of finance, an ms degree in cs from stanford is more favorable. MFE degrees are not favored because some of the things you learn like derivatives pricing aren't applicable to the buyside and the firms would rather hire someone with strong quantitative skills rather than someone who learned a lot about financial math.