• TIME TO 2024 UK RANKINGS

  • C++ Programming for Financial Engineering
    Highly recommended by thousands of MFE students. Covers essential C++ topics with applications to financial engineering. Learn more Join!
    Python for Finance with Intro to Data Science
    Gain practical understanding of Python to read, understand, and write professional Python code for your first day on the job. Learn more Join!
    An Intuition-Based Options Primer for FE
    Ideal for entry level positions interviews and graduate studies, specializing in options trading arbitrage and options valuation models. Learn more Join!

Quant Developer Qualifications

Kurt K.

Joined
12/1/11
Messages
25
Points
11
Hello,

Long time reader but first time writer. I would like to thank you guys in advance for replying my thread.

I am currently a developer working for a company that is not related to finance. My plan is to pursue a MFE degree and eventually become a quant developer. Few days ago, I saw some quant developer job postings @ Wilmott.

I noticed that most of the Quant Developer positions that I read preferred a PhD degree either in physics, math or compsci. So here are my questions:

1. For a quant developer, is a MFE a good fit, or should I go to the PhD route?

2. Has the MFE degree been depreciated? I heard the number of people who are pursuing or want to pursue a MFE degree have increased a lot. I am worried that when I am done studying MFE, my degree will not be that useful/valuable/advantageous than now, since the number of people studying MFE will be on the rise?

Thanks for your kind feedbacks,

Kurt
 
The common wisdom on the forum for the PhD question is that you should never do a PhD specifically to get into finance, with a possible exception if the PhD is actually in finance.

As far as MFE, my reasons for taking one:
1) It was a structured way to cover the bases and learn relevant topics.
2) Career services and networking.
3) Excuse to be in NY.

Notice that "recognition of the MFE degree" does not appear on the list.
 
1) It's refreshing to hear someone wants to be a developer. Many MFE applicants look down on developer roles thinking it's beneath them and only trading roles will do.
If you are an experienced developer, you certainly can move into finance without MFE and definitely not the PhD route. I know many have done this.
Pick up some books on the language of your choice (C++/Python/R/etc)
Daniel Duffy, Mark Joshi come to mind.
http://www.quantnet.com/forum/threa...uants-mfe-financial-engineering-students.535/

Banks will take good developers and train them finance over MFE/PhD with questionable domain knowledge and zero programming skill.

2) MFE degrees are going the way of MBA/Law degrees in the future. Every school will offer them and unless you graduate from some programs with top notch track record, it's hardly matter for the rest since the market for this niche degree is arguably much smaller than MBA/Law degree.
 
Back
Top