The Coming Glut of Financial Engineers

IlyaKEightSix

Active Member
It's not only in finance. My statistics degree still isn't landing any real hits. To me, it seems that the market is efficient when it comes to degrees. If everyone can get them, then they're not valuable anymore, and employers can just move the goal posts. Everyone has MFEs? Demand PhDs. PhDs? Demand 2-3 years experience after that.

And so on and so forth. So long as it's an employer's market, that's the sad truth of things.
 

joneskm

New Member
I mean let's be real please, if you want to talk about mfe's losing jobs you have to realise that they are still much higher in pecking order than single degree graduates. If you had to choose are you going to take the guy with an economics or finance degree vs the guy who has the ability to combine mathematics with the financial world and is also apt to programming....four year degree just is not what it used to be and everyone is catching on.
 

David

New Member
What is more pessimistic is,We Chinese students major in finance are worrying that China may abandon market economy and return to 30 years ago. 
 
When I see to this idea on the article "people get those positions by working their way up through the ranks, starting out in jobs that are much less attractive to someone with an advanced degree".

I believe if I have a good job which pays 15k in India (India is less expensive so that is the normal pay) in the very same profile where in USA it pays 70k, I should consider myself lucky and learn how IB work?

Or moving out asap to USA should be the better idea?

When I see the kind of profiles and knowledge some of these jobs require I can guess that they come to India not because of parity/arbitrage but because sometime these banks cannot get the requisite talent in USA. I dont know how it works.


Seniors please comment.
 

alain

Older and Wiser
...
When I see the kind of profiles and knowledge some of these jobs require I can guess that they come to India not because of parity/arbitrage but because sometime these banks cannot get the requisite talent in USA. I dont know how it works.
It always comes down to one thing: MONEY. That's how it works.
 

Four

Member
I was just browsing and came across this post again. Could anyone comment on how relevant it still is? I am sure the glut of financial engineering students has now become a deluge. How has the market shifted and who are the top banks and trading firms hiring now? Is it only those students from the top 10 US programs in computational finance (like CMU) and MFE (like Columbia)?
 
I think it's a bit different. The employer doesn't care for the degree per se. E.g., he is not going to demand a Ph.D. unless he is sure that a Ph.D. - level employee will add more value to the company. Therefore, the logic "I'll get this degree, and the job is guaranteed" goes only so far.
Agree with you Nikkei, it would be a sight when a non-MFE hiring manager interviews an MFE candidate. A non-PhD is a boss of PhDs.
 
Wait...What does MFE acronym stand for? Ah...Mass Financial Experiments!

Don't invest your money in those business schools because they are not Ltd/Pty companies and never listed on the exchange and MFE degrees ain't your share certificates.
 

Rahul Jaikar

New Member
Hello guys, myself Rahul from Mumbai, India. I am 24 years old, a Mechanical Engineer by profession. Talking about my profile its a bit worse. I took 7 years to finish my 4 year Mechanical Engineering course due to arrears in between. I had completely lost interest after joining it. Now I am really interest in working with the Finance Sector (of course Financial Trader is the ultimate aim) But have no much exposure to Finance world. What are my chances of landing up in a good university for Masters in Financial Engineering so that I get a good job and have the dream of working on the Wall Street. I know I have done mistakes in my past but I really do not wish to do any such casualness further. I really want to revive my career now and od something good now. Please guide me guys. Thank You in Advance.
 
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