MS in Computer Science vs MS in Financial Engineering

[Henry Liu]

Dear all,


I would like to find a job in risk management, front-office IT, and risk IT in the US.

Therefore, as an international student, I am interested in getting an MS degree in the US.

I heard that in banks the mathematical part was handled by PhD and most MSFE (MS in Financial Engineering) graduates were in charge of the programming part.

In that case, I wonder:

1. Is MS in Computer Science better than MS in Financial Engineering for me to find such a job in the US? (I have got an MSFE in my home country.) If I would like to apply for OPT, are the jobs I mentioned are considered related to Computer Science?
2. How hard it is for international students to find such a job in the US?
3. How helpful will an FRM certificate be for international students to find such a job in the US?

It would be highly appreciated if somebody could help me clarify the above issues.

Thank you very much.


Best regards,

Henry

 

[Henry Liu]

No one replies... am I asking a stupid question?

 

[mhy]

Risk management, front office technology, and risk technology are three vastly different areas - I don't know why you're grouping them together

1. A quant group at a bank may hire someone with a CS degree, but only if they have solid financial knowledge. With a MS CS there is a high chance you will be placed in technology (software development) and not the quant group. It is possible to go into quant research with an MSFE. On the contrary a tech company would only hire an MSFE if they have a specific need for the skillset and would probably prefer MS CS most of the time.

You don't need an MS to get into risk management, front office tech or risk tech.

2. Harder than it is for Americans/permanent residents because not all firms sponsor H1B visas.

3. Might get a nod, but will never be a dealbreaker / dealmaker

 

[Henry Liu]

Hi mhy,

Thank you for your helpful advice. I specify "risk management, front office technology, and risk technology" because QuantNet Guide mentions that financial engineers are most often found in the three jobs. Actually, I am also interested in other middle office functions such as PnL/Risk Reporting/Reconciliation/Analysis. But I think these jobs don't really require the knowledge and skills taught in financial engineering programs.

I consider MSCS because my previous education backgrounds primarily lie in finance and financial engineering and I have been working in bank middle office for more than five years. I think what I lack is programming skills.

I wonder which big banks (those in the e-Verify program in particular) have quant groups. If I study MSCS and become a quant, will the job be considered related to my field of study (so that I can apply for OPT and STEM)?

Thank you.

Best regards,
Henry

 

[mhy]

None of the jobs you listed requires an MFE. I am currently working in front office tech and I am doing an MFE at the same time. The knowledge from the MFE isn't *required* for my job, but it is extremely useful because it lets me work on the quant code and actually understand the underlying pricing logic and concepts.

All big banks have quant groups. If you end up at a bank, they will most likely hire you on a visa. Whether it's a masters in CS or an MFE, a job involving programming at a bank would definitely be related to your field of study.

 

[Saqib Ali]

I'm getting a bachelor's in CS not finance. So would I definitely need a MSFE to get a front office role?

 

[Henry Liu]

Hi mhy,

Thanks again for your reply. I agree with you on the point that risk management jobs do not require MFE or even MS. But to be able to work in the US, I think I have to get a degree in an American University (because I am not an American, after all), and then I have to decide which major to study - CS vs FE. According to you, it sounds that both CS and FE can help me get a job in a bank. I think I may apply for both. Thanks again for your sharing and input.

Best regards,
Henry

 

[Henry Liu]

Hi mhy,

btw, which MFE do you study?

Thanks and regards,
Henry

 

[mhy]

Hi mhy,

btw, which MFE do you study?

Thanks and regards,
Henry

You can probably figure it out if you go through my posts, but one of the top 10 in this site's rankings