Want some advice on current study

[NeedHelp]

I am a current student in the MSFE program at University of Chicago.
This is my second year and I need 4 more course ahead to complete the program (about $20k).

However, I still couldn't find a job up to this point. You may say that is related to my background which is

1) 4 years of working exp in credit card industry as risk analyst.
2) International student

Nevertheless, in most of the cases, I do not even have a chance to bypass the resume screen and there seems to me there is not a chance for entry level entrance. The faculties could not provide any help and every time they are using the economic factor as an excuse to not doing anything.

So if anyone could provide any recommendations on whether I should drop the course and save the half-a-year time and the $20k?

Thanks*100000000

 

[Connor]

I wouldn't think of it in terms of how much is left but in how much time and money you have already put into. If you quit before finishing then all the time/money you've put into it so far is wasted.

If you aren't even getting interviews then that leads me to think that your resume isn't very good and/or you aren't targeting the right firms.

 

[TraderJoe]

U. Chicago is a very prestigious university. The main problem is that 95% of the Finance jobs are in New York City. It is surely a huge blunder to drop out at this stage. Ask them if you can transfer to Stamford to complete the program. This way, you can interview in New York City for the final six months while you are completing the program. Otherwise, complete the program and then move to New York City and start interviewing. The prop trading firms in Chicago may not be willing to sponsor H1-B work permit. In New York City, the IBs are willing to sponsor H1-B, so that particular problem is removed. I thought Chicago was one year program. Are you doing it on part-time basis?

 

[IEOR]

Because you are an international student, you must keep your immigration status in good standing all the time. If you quit your program, you only have 3 months to stay legally before you find your H1B sponsor or you will have to leave the country. So stay in school and look for a job unless you are sure you can get an offer from somewhere.

 

[Andy Nguyen]

U. Chicago is a very prestigious university.

I'm sure the OP was aware of that fact when he applied. It means little if that career service is not on the same level as the "name brand" and tuition suggest.
Judging from the comments by Chicago MSFM students, it's been the biggest problem. Now that Tim Weithers is no longer there to provide "career services", it's only getting harder for international students like OP.

Seeking changes, Chicago MSFM fired founding director

I wouldn't suggest the OP to quit the program because as international student, the legal mess he will get himself into is just enormous. OP needs to "be on status" at all time while on a student visa.

I wouldn't suggest going to Stamford. It's a remote program and the support there is minimal. He can always apply to firms in NYC from there and travel to interview. saying small firms do not sponsor visa is WRONG. Many international students end up working in little known companies. You just have to be the right fit for them.

Take a look at these firms.
Quant Internship and Graduate recruitment - A Firms List

 

[NeedHelp]

Thanks a lot people.
I forgot to mention I am studying on a part-time basis, which I am studying w/ H-1B status.

I guess the biggest problem is my experience does not stand out to be appropriate as a quant.

Do you guys have any idea about that?

 

[NeedHelp]

I have one more question to all of you.
Do you guys think it would be even harder if I look for jobs after I graduated?

 

[Andy Nguyen]

I'm not sure what your definition of a "quant" and your expectation of the kind of "quant job" you would get after graduation from a program like Chicago.
It could be that your perception is completely skewed about this field which may explain why you did not look into the right jobs for you.
MFE graduates end up in a wide range of positions and firms. You may be looking at a very specific role which is not a good fit for you.

 

[NeedHelp]

I do apply for many positions, even trader assistant.
But none of them has a reply even up till the stage of resume scan.

Do you guys have any source for entry level position for MFE (no exp)?

Thanks a lot for you all kindest help.

 

[TraderJoe]

I do apply for many positions, even trader assistant.
But none of them has a reply even up till the stage of resume scan.

Do you guys have any source for entry level position for MFE (no exp)?

Thanks a lot for you all kindest help.

You need to post your resume on efinancialcareers.com and then contact headhunters. Apply for all the jobs which you are interested. The most important thing is to be present in NewYork City for the interviews.

 

[latency]

i think there is not much hiring in chicago in the prop trading space unless you are a superstar programmer and have experience in trading infrastructure. most prop firms are trying to cut costs given that there is not going to be any money for some years. i guess banks might be hiring for which you need to know people or access to a good career center. i am not sure chicago has one. since you are doing it part time, can you say take some time off. can you say go back to school later and finish the program? and in the mean time spend time on the job search or wait for the job market to improve.