It should also be said that it's extremely ridiculous to think it's easy to walk off the Street with a spanking new MFE degree into a trading job with their own book handling million dollars.
My own experience and the research I have done on the MFE graduates do not suggest otherwise. Just because an MFE program reports that their graduates go into Trading does not mean they are de factor traders.
Trading is a broad term that encompasses many roles. It can be trading support, booking trades, running PnL, consolidating trades on various books.
Everyone wants to be called traders but among those who call themselves so, there are many posers.