Advice on Going for MFE This Year (Kinda Urgent)

[stochy]

Hi all, I recently got admitted to a few programs, one I am strongly considering going is UChicago, however I am starting to have doubts after hearing a lot of horror stories about students not being able to find jobs in the U.S.

For context, I'm a front-office developer at a BB bank in Asia, and want to transition to a QD with some quantitative focus, preferably on the buy-side (I do prefer to still leverage my computer science background). I initially wanted to take an MFE/MSFM to learn more financial maths/stats which would better prepare me for this role. Spoke to different people, some saying it is not exactly necessary to take an MFE (and that things like stochastic calculus, etc. can be highly specific to derivatives pricing roles, which people told me are decreasing in terms of availability of roles). Naturally I don't have too strong of a math background (enough to get pass the pre-requisites to be admitted), so I don't expect to get roles like QR at a tier-1 HF. After hearing a lot of MFE reviews, it seems like much of the recruiting happens early on, which doesn't exactly give me time to apply whatever I study afterwards to interviews, which make it seem like simply a ticket for 'already qualified' students to get jobs.

I'm considering whether it is worth delaying a year to better prepare on math-related topics, prepare for job interviews, etc. Would also like to hear from current students about the job prospects currently, or perhaps the outlook for 2026-2027, as an international student. Additionally, for people with CS backgrounds (and not too strong maths), curious to know what roles you end up getting post-graduation.

Thanks in advance! Appreciate the coming advice

 

[Andy Nguyen]

First thing first, please add your admission to the Tracker. Thank you.
You are going into one of the worst job market in recent years. Who knows what will happen in the next 2 years.
There are some truth to what you hear specially if you read the reviews on QuantNet by recent grads.
It's crucial that you must be ready for interview during your first semester. Recruiting is happening sooner and sooner every year. Missing out on this does not spell the end but it will severely limit your job options.
Some programs have mock interview, etiquette, public speaking workshops early in the summer to get you somewhat presentable. You will also have to cram interview books, do the coding prep, etc.
The preparation starts the second you select a program.
QD is an excellent role to target because many MFE grads are not strong coder and the competition for QT/QR is too fierce.
How is your advanced C++ skill?

 

[stochy]

First thing first, please add your admission to the Tracker. Thank you.
You are going into one of the worst job market in recent years. Who knows what will happen in the next 2 years.
There are some truth to what you hear specially if you read the reviews on QuantNet by recent grads.
It's crucial that you must be ready for interview during your first semester. Recruiting is happening sooner and sooner every year. Missing out on this does not spell the end but it will severely limit your job options.
Some programs have mock interview, etiquette, public speaking workshops early in the summer to get you somewhat presentable. You will also have to cram interview books, do the coding prep, etc.
The preparation starts the second you select a program.
QD is an excellent role to target because many MFE grads are not strong coder and the competition for QT/QR is too fierce.
How is your advanced C++ skill?

Thanks for your reply Andy. I will add to the tracker soon.

I did learn and use a lot of C++ back in university, but in the recent years, my main programming language has been Java. I guess this is something I can definitely revise, but I wouldn’t say I have professional working experience with it.

With QD roles though, I’m guessing I’ll probably be directly competing with CS grads (?). I’m not sure how much of an edge an MFE will give.

 

[Andy Nguyen]

You are going to limit your job options with Java. Please do yourself a favor and learn C++ and Python.
For C++, be at least at the level of our advanced C++ course.

Thread 'How Quantnet's C++ certificates got me a job on Wall Street'

3/3/18

Dear prospective students,

I recently signed a contract with a top Investment Bank for an Associate C++ Developer position in the Securities Technology Division in New York. Three years ago I had very little programming and math knowledge, and non-relevant work experience. I was just another business admin graduate with ambition to make it in Wall Street one day. Sounds familiar?

Here's what happened:

I came across the C++ Programming certificate in one of my searches for MFE programs in New York, and decided to enroll.

The intro certificate covers a lot of useful stuff, like...

• Pavlos Sakoglou
• Replies: 31
• Forum: Articles

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For CS grads, unless they are from a target program, it's very hard to break in. Tens of thousands of CS graduates flood the market versus the thousands of MFE grads.
The edge for MFE grad is coming from the alumni and employer network that they build over the years. A great programs will source their internship and jobs from their alumni before the jobs listing become public. If MFE graduates have to apply to public listings, it means their programs have no exclusive relationship.

I graduated almost 20 years ago and I still receive email from the program director with internal listing from alumni of the program.