Double Master degrees, and then what?

[paaatrik]

Double Master degrees, and then what?
I am studying for two full-time degrees at the same time, with aim to becoming a quant.

• Master of Science in Engineering, Computer Science and Engineering specializing: mathematical statistics (financial statistics) and algorithm implementation. 5 years of credits
• Master of Science in Business and Economics, specializing: Financial Economics. 4 years of credits

I’m almost done; total study time for receiving the two diplomas is counted to be 5 years,

I have knowledge of C++, Java, SQL, Matlab, VB.
Knowledge in stochastic calculus (eg. Know how to price derivative instruments) and numerical analysis.
So to my questions

I don’t know if I should consider applying for a Ph.d program or not. Or is my educational background enough for becoming a quant. I am still young and would receive a Ph.d at an age of 28 (approx.).

If yes, anyone who can recommend a Ph.D programme/school, in financial engineering, financial economics?

Is this a big advantage in the quant world with two Masters Degrees like mine above?

Is it usual in this industry to have dual Master degrees?

 

[Andy Nguyen]

The next step for you would be to find a job. It makes no sense to do degree after degree without knowing what skills the market want and what line of work you like/hate.
Trying for a job would give you a good idea whether your skills/background/education is marketable. Spend a few months to look for a job, if you can't find any internship, job, then it's not too late to apply for a PhD program.

Your two master degrees mean very little if you put into perspective. I have 2 master degrees (MS in CS and MFE). Many members here have 2 master degrees and many have a PhD and an MFE. When I interviewed for jobs, nobody seemed to be impressed with my 2 masters. They probably cared about what I know and can do right off the bat than my education.

Plenty of people out there have all the degree, certificate you can think of and what employers want is relevant experience and skills.

 

[Yuriy]

I think it is not unusual to have two Masters degrees in our area. Many people study something else before realizing they want to get an MFE. Some have MS in CS, some MS in Math, some in various Engineering areas, some in Finance. Two Masters degrees give you an advantage only in the case when they complement each other and are both relevant to the job you are applying for. Your first degree might determine the area of FE that you want to specialize in.

You should do a Ph.D. only if you really know what it is and really want to do it, and not because it is cool to have it

 

[alain]

Having multiple degrees only impress an HR person. From my experience, the manager doing the hiring will not care much about you having two degrees or sometimes even a PhD. You will have to prove what you know in the interview.

 

[Yuriy]

And by the way, if Masters degrees are in totally different areas that might even hurt your application. People might think that you don't know what you want

 

[paaatrik]

Thanks Andy for your opinion which seems reasonable.
The plan for now will look like this: I will soon start to apply for both a ph.d position and an internship at a highly regarded firm/school. If I don't get the position that I want I'll consider joining a ph.d program.

 

[Bridgett]

Thanks Andy for your opinion which seems reasonable.
The plan for now will look like this: I will soon start to apply for both a ph.d position and an internship at a highly regarded firm/school. If I don't get the position that I want I'll consider joining a ph.d program.

Your plan sounds reasonable, but if I were you... I would gear majority of my effort towards finding jobs, jobs, and jobs. Along the same lines with other guys here, I also feel that employers care the most about your working experience after your undergrad. This might sound harsh to people like you, but it is the reality, especially in this field.

Best of luck!!

 

[alain]

My advice, if you want to go to school and get a PhD, do it now. After you get a job, things will become harder in every sense.