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He said that it is important to understand probability and stochastic processes but not necessarily to have done a dissertation in that area.

Hi,I did an MSc Finanicial maths at Edinburgh and found this question interesting. I left the course thinking I certainly knew more about financial maths than when I came in (I had an applied/engineering maths background) but still I didn't quite have the confidence after one year of understanding certain things like I would have wished. I sometimes felt that I was in a half way house when looking for jobs, I didn't know enough to compete for PHd/MSc jobs but then again felt I wsa underselling myself to a graduate scheme. So then I took an actuarial job which seemed like a half way house - ish job but I have found that it is not the sort of job I want so am off to do a PHd in finanical maths/computing. Basically I feel the general consensus is you need a PHd for these quant jobs but I agree with the original poster when he says that a lot of these employers don't really know what these MSc's are about, tis a shame but I feel that a year is a very short amount of time to learn a lot of stuff and perhaps it takes a bit longer for some ideas to sink properly.RET79 I'm going about it a little differently. While I'm not against completing some type of MS degree, at my career stage(read: age), it's not as important since I have relevant experience. For me it's more important to demonstrate to an employer (even my current one) that I can confidently apply what I've learned (via VB, C++), than to merely state that I've taken such and such courses or have this degree but have not used it to tackle anything significant yet. I agree with your claim that it does take more than a year for all those advanced results to sink into the brain where they become yours. I also believe that not enough of the standard results of analysis, measure thoery, and stochastics are taught in classes structured whereby you're out in a year or so with a degree. So, in addition to some of the comp finance courses, I'll also be throwing in a mix of real analysis and advanced probability course work. Whether I finish with an MSc remains to be seen. I'm taking an eclectic approach to picking my courses such that I'm well rounded/grounded enough in the areas that I'll need sufficient preparation in, in advance of any coding work I might do.I've never had a problem selling myself in an interview (my approach to interviews is "accomplishment based"). Even if I don't have an MSc, I know that having a demonstrable understanding of the subject matter backed up by a few coding projects will go further than only having the degree. At least this is what has worked for me. Good Luck.