A realistic look at the MFE

[Yike Lu]

At any rate, salaries don't mean anything to me. I wanted to become a quant, developing sophisticated pricing models with advanced mathematics, and it's never going to happen with an MFE. I just wanted to inform other prospective students about this if they had the same feelings that I had.

This is true. If you wanted to do pricing model research you should have done a PhD. It's that simple.

But I don't think most people here want to do pricing model research, and they don't consider that to be the definition of a quant job.

 

[IntoDarkness]

Master degree to me is useless. I love theoretical stuff. I am just taking theoretical PhD classes at a college close by.

 

[C S]

Base 80k + bonus can easily break 100k, and 150k all-in is not unreasonable at certain firms

In NYC a base of 150k is nothing

If 150k base is nothing, there are a lot of people making nothing in NYC....

 

[C S]

Thx for sharing... I thought that will be like a Bachelor's compensation... maybe I am too optimistic ...

A lot of analysts on Wall St are making 80k now, and some of that figure can even include the bonus.

is that in NYC though... my friend intern salary at NYC is like 65K - thats not even front office position... maybe my data point is too skewed...

Interns typically get paid pro-rated from a fulltime salary, from my experience.

65k is more typical for a finance job in NYC, but just because you're front office doesn't make you 100k all of a sudden. 80-90k is more likely for front office.

 

[TehRaio]

I wonder if there is as much talk about compensation in medical doctors circle as there is on this forum.
I feel like there is a bit too much obsession with it, my 2 cents.

 

[C S]

I wonder if there is as much talk about compensation in medical doctors circle as there is on this forum.
I feel like there is a bit too much obsession with it, my 2 cents.

Sorry to have contributed to that feeling! Work environment and culture is very, very important. People here don't really talk about that versus salary, but that's the general tendency on Wall Street.

 

[mhy]

If 150k base is nothing, there are a lot of people making nothing in NYC....

I meant a base of 150k in the financial industry is nothing special. Back-office VPs make 150k