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Tetro
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Joined: January 19th, 2010, 9:31 pm

A way out of the education trap?

January 20th, 2010, 12:35 am

Hello allI am currently finishing up my bachelors degree in Mathematics in Paris (UPMC Paris 6)I want to start working in finance, and have thus the option of either doing a traditional masters degree in finance, or something they call an apprenticeship. After reading all the posts on this forum, I have grown very suspicious of traditional masters/MFEs (unless they are from the best top tier schools, which I wont get into anyway)They appear to be 1)additional years spent in school (with no guarantee that the degree will make an important contribution to your career)2)significant opportunity cost in terms of precious early work experience3) big debt because of tuition costsThe beauty of the apprenticeships I found (In Geneva and Paris) is that they are in free state universities, and that you get a finance masters degree WHILE WORKING PART TIME in a partner firm as part of the degree requirements. Do you think that this apprenticeship sounds like a good idea?
 
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DominicConnor
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Joined: July 14th, 2002, 3:00 am

A way out of the education trap?

January 20th, 2010, 1:32 am

This makes sense at more than one level, however where do you work and what will you study ?
 
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AvovA
Posts: 55
Joined: May 19th, 2009, 10:48 pm

A way out of the education trap?

January 20th, 2010, 1:43 am

Do masters/phd in pure math. The school will pay _you_ for doing that And if there is a prof. in math dept. who does Math. Finance ... Bingo! Jackpot You do math finance and they pay you for it ))
 
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Tetro
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Posts: 12
Joined: January 19th, 2010, 9:31 pm

A way out of the education trap?

January 20th, 2010, 4:12 am

Thank you for your opinions.DominicConnor: It would be a "soft" finance masters degree. No real math that a quant would need, just various classes in financial management, corporate finance, financial analysis, etc.The place of work, however, is unclear. In some places you have to look for the work yourself (ie HEC Geneva)But supposing that in the case that it is more or less decent work, relevant to the coursework, I think it would be a great opportunity. Because the major problem with college is that your totally cut off from professional reality. Having a job allows you to actually get a feel to what it is like to WORK in the industry, start learning to network, and get a little perspective on what your learning in class. Even if the job was terrible, that in itself gives a lot of information. And not that the quantitative stuff isn´t interesting. I just think that it would be a lot better to get a little experience before doing it. I looked at the quant finance masters degrees, a lot of them welcome people who are already working. After four years of non stop abstract math, I should be able to get back into that sort of thing. this reasoning sound ok, or absurd?Avova: You may be right, but I am convinced for various reasons that doing a PhD is only a good idea if your really interested in the research for what it is. I dont think that doing math research has any sense or is even possible unless you are passionate about it (and incidentally, really GOOD at it). And the same argument for any kind of research.
 
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AvovA
Posts: 55
Joined: May 19th, 2009, 10:48 pm

A way out of the education trap?

January 20th, 2010, 4:38 am

That is why I said masters or phd. I do not know about France, but in Canada even in masters program you get a scholarship and the school covers the tuition fee for you. And here in UofT math dept. we have a few profs doing finance.
 
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KackToodles
Posts: 4100
Joined: August 28th, 2005, 10:46 pm

A way out of the education trap?

January 20th, 2010, 5:20 am

the problem with all these plans is that you view advancd university study as vocational training. When you enter a university seeking vocational training rather than knowledge, seeking money rather than knowledge, seeking career advancement rather than knowledge, you are going to have a closed mindset and, therefore, exit with a mediocre learning experience as well as a closed mind. If einstein, newton, or even black and scholes had your vocational training attitude, they would not have achieved their discoveries.
Last edited by KackToodles on January 19th, 2010, 11:00 pm, edited 1 time in total.
 
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sunra
Posts: 16
Joined: October 31st, 2009, 4:11 am

A way out of the education trap?

January 20th, 2010, 8:06 am

correct me if i'm wrong but einstein, newton, and those other guys did not get rich, which is presumably the goal of working in finance. OP, without knowing the workings of the eurocom bloc, your reasoning seems sound to me
 
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nicka81
Posts: 57
Joined: October 18th, 2009, 8:17 pm

A way out of the education trap?

January 20th, 2010, 12:56 pm

black and scholes did get (reasonably) rich
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