My brief background first – I have an Engineering Masters and a CFA charter. I have been working in Product Control role (rates products structured to vanilla) for last 6 years at an investment bank plus have 1 year of experience as an engineer at an IT services firm prior to that.
I feel my career has been stalled for some time now. I'd ideally want to work in a Front Office (trading/strategist) or Risk Management role, and am wondering if I should go for an MFE to make that happen.
Weighing out several factors I see both pluses and minuses/questionables:
PLUSES
+ With the job placement services of a good college, could help me the long-needed job profile change. A strategist role (say) might make it worth it. I will probably have better job satisfaction doing something that is more aligned to business.
+ Money-wise, although I would have to spend a few years to recoup my investment, in long-term I think I NPV is positive.
QUESTIONABLES
- I am in early thirties. Average age for MFE students seems to be on late twenties from what's posted on websites of some top schools.
- Looking at salary levels of graduates, I already make on par or slightly less than what's on sites of some schools.
- I'll likely be promoted to VP this year-end. If I go for MFE starting in 2013, I will still have to start presumably as an Associate on 2014.
- The cost (both money and time) is considerable. It'd take a few years to recoup the money invested.
To sum up, I think that doing the course will benefit me in long term and probably help change my role. But I also have my worries - probably I am too old for this, I'll still be making not too different after graduating, and probably even have to settle for a lesser title. Of course, there is also some risk that I might not land in a FO role despite doing a MFE. All of this puts me in a great dilemma right now. As I think I am nearing the age barrier and need to decide now or not do it ever.
Not sure if any of you guys might've faced something similar but any insights or advice from prior experience would be highly appreciated.
Thanks in advance.
I feel my career has been stalled for some time now. I'd ideally want to work in a Front Office (trading/strategist) or Risk Management role, and am wondering if I should go for an MFE to make that happen.
Weighing out several factors I see both pluses and minuses/questionables:
PLUSES
+ With the job placement services of a good college, could help me the long-needed job profile change. A strategist role (say) might make it worth it. I will probably have better job satisfaction doing something that is more aligned to business.
+ Money-wise, although I would have to spend a few years to recoup my investment, in long-term I think I NPV is positive.
QUESTIONABLES
- I am in early thirties. Average age for MFE students seems to be on late twenties from what's posted on websites of some top schools.
- Looking at salary levels of graduates, I already make on par or slightly less than what's on sites of some schools.
- I'll likely be promoted to VP this year-end. If I go for MFE starting in 2013, I will still have to start presumably as an Associate on 2014.
- The cost (both money and time) is considerable. It'd take a few years to recoup the money invested.
To sum up, I think that doing the course will benefit me in long term and probably help change my role. But I also have my worries - probably I am too old for this, I'll still be making not too different after graduating, and probably even have to settle for a lesser title. Of course, there is also some risk that I might not land in a FO role despite doing a MFE. All of this puts me in a great dilemma right now. As I think I am nearing the age barrier and need to decide now or not do it ever.
Not sure if any of you guys might've faced something similar but any insights or advice from prior experience would be highly appreciated.
Thanks in advance.
