October 23rd, 2003, 12:07 am
OK. I struggled with the same decision for a long time. I chose to go the MBA route, and I am very happy with my decision. That being said, it really does depend on the program => both the MBA program and the quantitative program (MS/MFE/MCF/CF/etc...). I'm glad I'm finally in a position to give advice rather than take it as I have been doing up till now!I'm in the MBA program at MIT Sloan. The MBA program was revamped this Fall with a new set of requirements. Basically your first semester you are forced to take all the core classes (Accounting, Economics, Statistics, Organizational Processes, Communication for Managers, and some semester-long projects) and one of either Finance Theory I or Strategic Marketing. So ok, the 1st semester basically sucks. But one good thing about it is that it forces you to really develop communication and interpersonal skills, which I claim are more important than any technical skill if you want to trade at a top bank. After that your done with requirements, except that you have to have 144 credits from the business school before you graduate. But the first semester already gives you something like 50 or 60 credits and many quant classes you'll take are actually part of the business school (like advanced stat, optimization, fixed income products, derivatives, etc...). So you can basically take any engineering/math class at MIT.I also have access to some of the best FE Professors in the world. I just sat down with one of the best a few days ago and I might get the opportunity to work at his quant hedge fund part-time and/or during the semester.And one more plug: there are strong ties between top banks and the business school and they consistently hire MBAs from the program. It's really a huge advantage over the MFE?MS program that haven't yet developed a reputation at many firms.So in short, if you have the opportunity to go to a select set of flexible MBA programs, I would do it. But make sure the programs you apply to give you the flexibility to do what you want.Hope this helps.-P.