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b21derby
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Joined: April 26th, 2011, 3:19 pm

Are these courses worth it (UK)?

May 10th, 2011, 9:29 pm

I'm about to graduate with a first in Mathematics from a Russell university and I'm looking to forge a career in Quant Finance. I've studied Financial Mathematics as part of my undergrad degree and it's obviously something I want to pursue at MSc level. Unfortunately I just don't have the funds for a FM course at one of the big six (IC, LSE, Warwick...).My question is this: Is gaining any of the following qualifications realistically going to enhance my chances of landing a Quant job?MSc FM - Leeds MSc FM & Computation - LeicesterMSc Operational Research & Finance - EdinburghMSc Mathematical Finance - YorkI realise that many quants come from maths/physics backgrounds after completing PhDs, so in that respect I've also applied for a place on the following courses:MSc Applied Mathematics - ImperialMSc Mathematical Modelling & Scientific Computation - OxfordMy real interest is Financial Mathematics, but I'd be interested to hear people's views on whether it may be preferable to follow an applied mathematics route in the short term to achieve my goal in the longer term.Thanks!
 
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thomssi
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Joined: August 25th, 2005, 2:45 am

Are these courses worth it (UK)?

May 12th, 2011, 5:21 am

No, you need a PhD.MSc/MFE/whatever, it over qualitifies you for non (proper) quant jobs and people won't hire you as they expect you to think you are above it and under-qualifies you for real ones.
 
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Hansi
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Joined: January 25th, 2010, 11:47 am

Are these courses worth it (UK)?

May 12th, 2011, 7:16 am

QuoteOriginally posted by: b21derbyI realise that many quants come from maths/physics backgrounds after completing PhDs, so in that respect I've also applied for a place on the following courses:MSc Applied Mathematics - ImperialMSc Mathematical Modelling & Scientific Computation - OxfordI recommend going for either of those rather than the others.QuoteOriginally posted by: thomssiNo, you need a PhD.MSc/MFE/whatever, it over qualitifies you for non (proper) quant jobs and people won't hire you as they expect you to think you are above it and under-qualifies you for real ones.I disagree. Quite honestly I've worked with enough PHDs to tell you that they are by no measure magically better then the MSc people doing the same job. No one should do a PHD unless it's on a topic they love.
 
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eh
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Joined: March 2nd, 2010, 9:26 am

Are these courses worth it (UK)?

May 12th, 2011, 8:41 am

I agree with Hansi's choices. Do the most finance-orientated optional courses, and try and do a quant finance project. Math Fin M.Sc.s are very expensive. An applied maths MSc is good alternative.
 
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thomssi
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Joined: August 25th, 2005, 2:45 am

Are these courses worth it (UK)?

May 13th, 2011, 6:15 am

Hansi,In terms of competence I don't disagree. I also think you are right for reasons to pursue one in the first place. Fact of the matter though is unless your CV has PhD on it then it goes in the bin, at least real quant jobs. Once you have a job it is different but to just get in the door with a masters you have a problem.
 
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ACD
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Joined: April 19th, 2004, 8:09 am

Are these courses worth it (UK)?

May 13th, 2011, 6:26 am

What type of Quant do you want to be? You could do a masters/Phd. that deals with statistics/econometrics which will be useful in a lot of hedge funds and would make you an attractive hire to them if you Phd. is in a useful area.
 
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Telecaster
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Joined: August 27th, 2008, 9:19 am

Are these courses worth it (UK)?

May 16th, 2011, 1:50 pm

Last edited by Telecaster on November 14th, 2012, 11:00 pm, edited 1 time in total.
 
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spv205
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Joined: July 14th, 2002, 3:00 am

Are these courses worth it (UK)?

May 16th, 2011, 2:34 pm

agree with thomssi. Its not about the knowledge, but distinguishing yourself from the competition.I would say that a first from a leading university should be sufficient fro your CV to be noticed( but depends on which in russell group).Have you applied already/spoken to headhunters/ done any internships? The issue is often with recruiting calendars...ie junior positions might well be filled 6 months before.Personally I don't think any of those MSC will really help you get in to a real Front office quant job. What about the part 3 from cambridge? IMO that would be of more interest to recruiters.The alternative is applying for model validation jobs and then moving to front office in a year or so.