I admit I am biased, because I have decided to get a Master in Finance (from Princeton University www.princeton.edu/~bcf/master.htm)Basically, I knew that I "should" have gone to get an MBA. However, I couldn't really stomach the thought of taking general management classes and doing case studies so I chose to go to Princeton. The program here isn't totally mathematical, though it is quantitative. You can take classes from Asset Pricing Theory and Stochastic Calculus to Corporate Finance: Mergers and Acquisitions.However, having worked as a financial engineer for a few years at a well-reputed buy-side firm, I know that having an MBA won't give you anything for a quant job. True, if you want a pure quant research job, you better have that PhD in Physics or Math, but if you want to be an engineer thats hardly necessary. There is a middle ground between all the super rocket-science stuff and the standard finance MBA skill set. For example, say you want to advise clients on the risk-management of their derivatives portfolios. Does it look better if you have an MBA or if you have a quantitative finance degree and can discuss the derivation of Black-Scholes formulae and risk-neutral probabilities at length? The latter. That is why there are many experienced professionals (some of whom already have MBA's) who are trying to get the degree part-time. Lets analyze a job posting on this very site:To join analytics division of key European trading operation. Key function providing input to both trading, structuring and origination teams. The product range is vast including power, gas, coal, oil, weather and water related products, green energy and other cross commodities. The successful candidate will be involved in the innovation of new and alternative trading ideas, develop exotic derivative models (Monte Carlo) and methodologies to support and implement these. In addition the candidate will have input in portfolio optimisation, VaR implementations, forecasting and structuring. The role requires an individual with a strong quantitative background coupled with a good understanding of both OTC products and markets. Experience ideally in energy or commodity derivatives, alternatively a strong understanding of structured financial products. A theoretical background including Stochastic Simulations, Modelling, Mathematical Finance and VaR would be advantageous. Edcuational background in Maths, Stats or finance, ideally coupled with an understanding of coding using VBA. Our client would also consider applications from Ph.D students where field of study is relevant. The role offers an excellent chance of cross market exposure, the analyst will be given the opportunity gain experience in a variety of areas within the business including structure and strategy, risk management, valuations, monitoring and forcasting, credit risk management and trading.----------------This job is tailor made for someone with a master in quant finance. Notice the "Educational background in Maths, Stats or finance, ideally coupled with an understanding of coding using VBA (gotta be able to program!!!!)". They are also willing to consider applications of PhD people (code word, PhD not preffered).How about this one: http://www.wilmott.com/forum/messagevie ... id=511they mention master in finance specifically.In sum, it matters on what kind of a job you want and also how you want to style yourself. No matter what you majored in undergrad, if you have an MBA you will be perceived as non-technical person. In a technical field such as Fixed Income derivatives trading/structuring, you will gain an advantage if you are seen as having a rock-solid technical understanding. However, having a PhD can lead some people to think of you as an academic. With a masters degree, people know you acquired your knowledge to make money and wage war in the trenches of wall street!my 2 cents.

Monday, February 18, 2002 10:56 AM (NEW!)



Astyanax:
I have a Masters in Computer Science from USA and have good Quantitative background . I did bachelors in Chemical Engg. from I.T.BHU India ( a reputed Univ). I am currently working on my MS thesis on the application of Genetic Algorithms on the stock Market. Currently I have admission for MS Finance ( 2002 session March) from Illinois Institute of Tech. Chicago . I am waiting to hear from Berkeley , [MS in Financial Engg.]for the 2003 session [ please note its for 2003] . But, evenutally I would like to get into research in quant based finance. Do you think an MS in Financial Engg. would be better say from a school like Berkeley after one year than an MS in Finance . Or it would be better to do go for MSF from IIT ,which is just a year program and would give me good background in Finance , to which am a fresher . Later I can do a Phd. Also,I am interested in knowing Univs that admit "freshers" into quant focussed Finance Phd programs in the United States . Anything else that you can suggest looking at my profile.

Hello,

I have just read the mail about the MSc in Finance/Princeton University. Very interesting.

I was admitted to the fall 2002 at the MSc in Financial Mathematics at Univ of Chicago and, as a non US citizen, I have some doubts about that course and how it is perceived by the job market.

I would be very pleased to "listen" what are your opinion about that course and the expected "re" placement in the job market. Any information will be very welcomed. Do you think that course will be an "open doors" to the hedge funds/fund of funds industry?

Thanks a lot!

Dear Pele,

As I have some personal experience with the course, send me a private message and I will try to respond.

Take care,

Hari

hey Astyanax ,Could you please give me your mail address . i have some questions for you about the masters in finance at Princeton.Thank you.Mine is : Agus@muchomail.comSpiritualhealing

Do someone tell me which one is better between master in finance and master in financial engineering?

Masters in finance to me suggests that you will be looking a lot into the economic side of things... financial theories, etc. Not so Quantitative as the financial engineering, which will be geared more towards maths and the quantitiative side of the material on the plain Finance course. Both look at similar things but from very different angles. Sam

Amazing amount of info on this website! I don't want to beat the subject to death, but I have some questions regarding specific schools/programs. I'm familiar with all of the programs, but would like to hear anyone else's perceptions regarding anything about the schools. I've seen a lot of comments regarding CMU and Berkeley, and was hoping someone would have equally valuable views on some of the other institutions, specifically:

Stanford (MSE), Princeton (finance) - thanks to Astyanax for the views, Chicago (math finance), Columbia (math finance and IEOR), and NYU (math finance)

Stanford: great name, access to many departments, the ultimate educational environment?

Princeton: great name, access to many departments, but a new program and no professional schools (although many engineering, etc. offerings).

Chicago: program appears isolated from the rest of the school, no electives, but very strong mathematics within program and rigorous training.

Columbia (both programs): access to many departments, many PhD finance B-school elective opportunities.

NYU: maybe somewhat isolated within Courant, no electives, but excellent applied mathematics.

I'll be enrolling in one of the programs this fall; not concerned with costs, location, or amount of time required to complete a program (and only slightly interested in 'placement record'). My main issues focus upon potential access to the full resources of the school (ie courses from many departments to allow for customization of my studies), the potential for further coursework (possibly a phd in operations research at the same school), and the overall educational environment of the schools. These interests potentially 'demote' some of the programs which have a pre-defined course of study, but comments on any institution are most appreciated.

Background: seven years derivatives trading at big banks, FRM, CFA level III candidate, master's in statistics (from one of the above schools). Planning on returning to trading in credit derivatives or related area (new for me).

Thanks,

MathFinance

Astyanax,

If you happen through this thread again, I'd really appreciate the opportunity to talk about the Princeton program. It's one of the places I've been accepted to that I'm seriously thinking about, and I have many questions.

My e-mail: cms203@columbia.edu.

Thanks

To math financeAfter doing an MBA and working in sales/general management for 6 years looking to change tracks to finance.agressively searching for good Finance masters in the US to make the change. You seemed to have done a fair bit of research on the subject. Appreciate if you could help.my email is sbagaria@pacific.net.sg thks

Enable your private messaging in this forum and I can try to answer some of your questions.....

I am also interested in moving to a Finance job, but from an accounting/managment. I would like to find out more about the Princeton program which was talked about offline. I currently live near Princeton and work in NYC.-Robfrostrom@yahoo.com

Well, there's a couple of paths you can follow. Take a look at the website: http://www.princeton.edu/~bcfOr you can send me a private mesage within this forum if you have private info or something that you don't want to share with the world.

I want to move to the finance field as well.Please let me know some good Master in Finance programs.from my side, as one year program and in Us I think that the Boston College one in not too bad.My email: ggalis@yahoo.com