Seeking advice on whether MFE is a good idea

[oct]

I am working as a financial engineer and was hoping to make a transition to researcher/quant strategist job.
I am currently working outside the US and planning to relocate to US this year. I am thinking of applying to some US MFE programs to further my study but before that,
I wanted to hear some honest opinions on whether it is even worth a try.

To give you a little bit of my backgroud:
I have graduated US collge (top25) with Stat/Econ major. My overall undergraduate GPA is over 3.8 but I have C+ in linear algebra ( I have an excuse but not going to elaborate it here).
Most of my job consists of building/debugging a C++ library for pricing derivative products (QuantLib-like product). Although I think my work experience is quite relevant to mfe but I am little worried about my age which is 31. I don't this my age will hinder admission a lot but I am concerned I may be too old for job placement by the time I graduate.

I know I am not a desirable candidate for mfe but even if I get admitted I am not sure if it is a good investment and at the same time I feel like I probably would need mfe to get a job interview as a quant researcher.

 

[Andy Nguyen]

If you are moving to the US regardless of the MFE concern, why not try getting a job as a quant dev?
If you plan to leverage the MFE degree, you will be considered for mid-level, experienced roles instead of entry level roles like most fresh MFE grads.
Whether MFE is a good ROI depends on which MFE program you can get into and if it can put you closer to your career goals.

 

[jarryds]

I really don't think you are going to have a tough time getting into MFE programs. Generally speaking, someone with a good academic and professional background in something quantitative can get offers from at least one of the ranked institutions. These programs are turning into cash cows. They have managed to find themselves in between highly motivated students and an incredibly lucrative career path. Why would they reject you when they can take your 100k and let the industry do the rest?

Probably the better question - is it worth it? I don't think it will be easy to convince hiring managers that you are currently fit for a researcher role. Your background sounds much more software focused and its probably unrealistic to think an MFE will move the needle. I think a quant strat/dev position is your best bet if you are looking to move. If you do it right, you could place yourself in a tight pod that gives you more exposure to research that could potentially help you transition over time. Although even this move may be difficult for your background (they may be expecting more infra experience), you may be most qualified for a sell side strat position.

Before looping yourself into the MFE application process, float your resume out to some recruiters you trust or other connections in industry. Luck is like 80% of it. We could sit around all day hypothesizing what your career trajectory looks like, but if you are convincing enough and in the right place at the right time, none of this will matter.