School or Work

[Kev]

I'm currently working in a corporate finance world and have been admitted to two of the 11-20 ranked FE schools (per quantnet ranking). Since I have a wife and a kid, it's more crucial for me to make informed decision. I'm debating whether I should go to school now or stay employed and apply again one or two years later when market improves. I suppose nobody knows what will happen in January 2011, but your input and suggestion is much appreciated. Ultimately, I'm concerned about my employability. I don't have to work for the top tier bank, but would like a position in front officer in IB or quantitative research at fund management firm. FYI, I have a BS in computer science and 7 years of finance (not investments) experience. I'm also a US citizen. Thank you very much.

 

[joel_b]

Not enough info. Why leave your job? What do you expect to get out of FE over and above what you have now? Is part-time not an option?

 

[TraderJoe]

I can tell you from personal experience that it is really difficult to move into quant finance if you get the MFE degree from a low-ranked school. Most probably you will end up doing the same work which you are currently doing, maybe at a slightly higher salary. If you want to get a front-office quant position in IB, then you absolutely must find a way to get into the top-ranked schools like CMU, UC-Berkeley, Princeton, etc. Just do whatever is necessary to get into these schools.You will definitely get a job from a low-ranked school because 80% of the MFE students are international students and the companies are generally not willing to sponsor their work permits. But you should be mentally prepared for the fact that you may end up doing the same thing you are doing right now and will not be able to move into a FO quant position in IB.

 

[Connor]

I would say don't risk it with a wife and kid. This will start a big change in your lives and you want it to be worthwhile.

Assuming you like computer science and currently program, why not a masters in computer science? With it you could still get a quant developer job and it would give you other job options as well.