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Thoughts on MFE vs MS mathematics

AKing

Joined
1/24/24
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My undergrad is in mathematics w/ conc in statistics from a non-target school. I’m currently working as a Machine Learning Engineer and before that worked as a Data Scientist for 2 years. Both jobs are not in the finance sector.

I’ve always been interested in finance and specifically quant researcher. I’m looking to start a masters here soon and can’t decide between an applied/computational mathematics program or a MFE.

My only hold up with a MFE is if I don’t end up liking finance or can’t get a job I won’t be able to pivot to something else. Really just sort of afraid to specialize. With the applied mathematics degree I would be able to take electives in MFE courses but still retain my broader degree.

Was wondering if my thought process is sound and I should still with the broader degree or I am going to have a hard time breaking into finance without a MFE.

Thanks for the help.
 
You can definitely pivot from an MFE if you don't like it. I'd go MFE for the sake of the career services and networking opportunities alone. Applied math master's is going to be research-oriented more often than not and not focussed on getting you into a job. I wouldn't worry about specializing to much; most programs let you take electives in other departments anyways. Good luck!
 
AKing said:
My undergrad is in mathematics w/ conc in statistics from a non-target school. I’m currently working as a Machine Learning Engineer and before that worked as a Data Scientist for 2 years. Both jobs are not in the finance sector.

I’ve always been interested in finance and specifically quant researcher. I’m looking to start a masters here soon and can’t decide between an applied/computational mathematics program or a MFE.

My only hold up with a MFE is if I don’t end up liking finance or can’t get a job I won’t be able to pivot to something else. Really just sort of afraid to specialize. With the applied mathematics degree I would be able to take electives in MFE courses but still retain my broader degree.

Was wondering if my thought process is sound and I should still with the broader degree or I am going to have a hard time breaking into finance without a MFE.

Thanks for the help.
Click to expand...
Certain MFE programs have broadened their placement capabilities outside of traditional MFE jobs.

For example, Berkeley MFE has a big focus on data science + ML and placing candidates at tech firms like Uber or other places where there can be really complex financial challenges (such as Uber’s algo to price a ride).
 
kombuchalover said:
You can definitely pivot from an MFE if you don't like it. I'd go MFE for the sake of the career services and networking opportunities alone. Applied math master's is going to be research-oriented more often than not and not focussed on getting you into a job. I wouldn't worry about specializing to much; most programs let you take electives in other departments anyways. Good luck!
Click to expand...
Thank you for the reply but wouldn’t research be valuable as a quant researcher? Do MFEs provide research opportunities?
 
MichaelLewis said:
Certain MFE programs have broadened their placement capabilities outside of traditional MFE jobs.

For example, Berkeley MFE has a big focus on data science + ML and placing candidates at tech firms like Uber or other places where there can be really complex financial challenges (such as Uber’s algo to price a ride).
Click to expand...
That is nice to hear!
 
AKing said:
Thank you for the reply but wouldn’t research be valuable as a quant researcher? Do MFEs provide research opportunities?
Click to expand...
It could potentially, depends on what the research is, who’s interviewing you etc… Most top mfe programs in the US let you do a research project or a capstone project alongside a corporate partner.
 
I feel like you don't need to worry as much about pivoting because you can just lean on your MLE and Data Science work experience if you need.
 
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