I'm 29, located in Singapore, have been working in software development for all my life (8 years), currently at Credit Risk IT in an investment bank, doing part-time MFE and thinking about the future.I love maths and would be happy to use it in my day-to-day job. My favourite course in MFE curriculum has been is Stohastic Calculus. Hence I wish to find a job in derivatives pricing, model validation or structuring. But... let's be realistic. One cannot get quant analyst job without PhD and relevant work experience.I can see two feasible career paths:Move to credit/market risk management.This way I will have to start again from junior position and therefore lose in salary in the beginning, but I am fine with that.Stay in IT, but move to front office developer role, facing traders and probably get to develop some pricing applications.This way still implies a lot of coding which I am already getting fed up with, but I have a chance to get to a quant developer position. Also it might bring me to the front office bonus pool.Which option is more attractive from your point of view? Which one can pay better in long run prospects?

QuoteOne cannot get quant analyst job without PhD and relevant work experience.Wrong.Quote lot of coding which I am already getting fed up withconsider an MBA.Quotefront office developer role ... might bring me to the front office bonus pool.ha ha.

QuoteOriginally posted by: ArthurDentQuote lot of coding which I am already getting fed up withconsider an MBA.Actually, unless he has lots of extra-curriculars, he will have to spend a year doing crazy leadership stuff, and get a top GMAT or he won't get in. PLus MBAs are moving away from people who are after traditional M&A or S&T jobs (mostly cos there aren't many - and so it makes sense to tak students who will get jobs and pay hikes in other areas after the MBA)I would say to get competitive extra-carriculars might take more than a year. Best case he applies to start in 2015 - He'll be 32 (already at the extreme agewise for a TOP MBA) - and without TOP MBA chances of FO = 0.00%

Since when did you need an MBA for a FO support role?I know at least 3 people in FO roles who are simple PhD grunts like myself.

QuoteOriginally posted by: neuroguySince when did you need an MBA for a FO support role?I know at least 3 people in FO roles who are simple PhD grunts like myself.The OP thinks FO Developer (support role) will put him in FO Bonus pool. No it will not. He will remain IT. FO IT is the worst kind of IT. You are fire fighting all the time (ok-most of the time) and the pool is still IT Bonus pool.You do need MBA to get into FO. But I don't think the other comments make the following point - MBA maximizes your chances of getting into FO. But by no means does it guarantee it. In fact chances are still not overwhelmingly in your favor.

QuoteOriginally posted by: capafan2QuoteOriginally posted by: neuroguySince when did you need an MBA for a FO support role?I know at least 3 people in FO roles who are simple PhD grunts like myself.The OP thinks FO Developer (support role) will put him in FO Bonus pool. No it will not. He will remain IT. this.there are many at my workplace who are in "FO" IT and they go out of their way to stress that "oh no, we're not back office IT, we're *front office*, so we're special". sure, FO IT is definitely important but as said above, even though your title might be that of "front office developer", unless you sit side by side with the trader making direct and measurable +ve contributions to Pnl, you're just some IT guy.

If you want FO job, you need to apply for Top 10 MBA immediately. You are already too old for Harvard and Stanford. If you wait for 2 more years, all the top schools will reject your applications and tell you to apply for the part-time MBA or Executive MBA programs.Contact one of the MBA admissions consultants immediately. They charge a lot of money but they will help you to fake some leadership stuff and social responsibility stuff and some extra-curricular stuff like playing the violin in a Philharmonic orchestra which is essential but which most people don't know is important.Also you are on the wrong forum. Here there are mostly PhD people. No MBA people. Go to BusinessWeek MBA forum or WallStreetOasis forum. You will get help from people who can help you get into Top MBA programs.Do it now. Otherwise you will be a menial IT slave / grunt for the rest of your life.

Quote Otherwise you will be a menial IT slave / grunt for the rest of your life.C'mon TJ! C'mon!! Chances are even after an MBA he will be a slave and grunt or servant for life. The only benefit he will enjoy is that he will be welcome in non-IT circles. Outside of NYC no one cares about being in that circle. It is like "Scientology". The inmates believe they are the chosen ones. To the rest of the world they are in-consequential.

QuoteOriginally posted by: EscapeArtist999QuoteOriginally posted by: ArthurDentQuote lot of coding which I am already getting fed up withconsider an MBA.Actually, unless he has lots of extra-curriculars, he will have to spend a year doing crazy leadership stuff, and get a top GMAT or he won't get in. PLus MBAs are moving away from people who are after traditional M&A or S&T jobs (mostly cos there aren't many - and so it makes sense to tak students who will get jobs and pay hikes in other areas after the MBA)I would say to get competitive extra-carriculars might take more than a year. Best case he applies to start in 2015 - He'll be 32 (already at the extreme agewise for a TOP MBA) - and without TOP MBA chances of FO = 0.00%At 34, he will be too old for back to back all-nighters. No one will hire him for entry level.

There is virtually no difference anymore in bonus of trader facing IT job v core IT jobs. As long as you have a IT reporting line, bonuses will be close to 0. FO IT jobs are the worst as capafan points out. You work longer hours, managers and team mates are the worst (the biggest pricks in IT), lots of politics and your dev skills are not important - its more about project management. You should apply directly to quant dev positions...make sure its quant reporting line. With your dev experience and MFE, it shouldnt be impossible.

Quote consider an MBA.I am afraid I wasn't clear enough. The goal is to switch to quantitative finance whatever role it will be. MBA is not interesting as it's more in the field of management and business administration. I don't see how MBA skills are relevant for an S&T role.Thanks for advice anyway. Any thoughts on the original question: BO risk manager vs. FO quant developer?

QuoteOriginally posted by: crazypotatoQuote consider an MBA.I am afraid I wasn't clear enough. The goal is to switch to quantitative finance whatever role it will be. MBA is not interesting as it's more in the field of management and business administration. I don't see how MBA skills are relevant for an S&T role.Thanks for advice anyway. Any thoughts on the original question: BO risk manager vs. FO quant developer?If it's the samish money, go for BO risk manager - at least you won't have the stress of a bunch of increasingly unprofitable traders shitting on you.

QuoteOriginally posted by: traderjoe1976If you want FO job, you need to apply for Top 10 MBA immediately. You are already too old for Harvard and Stanford. If you wait for 2 more years, all the top schools will reject your applications and tell you to apply for the part-time MBA or Executive MBA programs.Contact one of the MBA admissions consultants immediately. They charge a lot of money but they will help you to fake some leadership stuff and social responsibility stuff and some extra-curricular stuff like playing the violin in a Philharmonic orchestra which is essential but which most people don't know is important.Also you are on the wrong forum. Here there are mostly PhD people. No MBA people. Go to BusinessWeek MBA forum or WallStreetOasis forum. You will get help from people who can help you get into Top MBA programs.Do it now. Otherwise you will be a menial IT slave / grunt for the rest of your life.What value is any MBA(even H/S/W) in the current environment? Unless it is used to switch careers to something like consulting or product management, you are looking at ~400,000 in opportunity cost just to get a shot at on-campus finance recruiting. However, there are a lot of doors that will open if you happen to be interested in General Management in some conventional sectors.You are also looking to compete with 25-26 year old kids who went to an Ivy, entered IBD/PE and are looking for associate roles in the same sectors. If you consider yourself an extrovert with a magnetic personality, by all means, go to a good b-school and work your way up.As an FYI, I am not an MBA but am well aware of the outcomes that many of my peers have had in business school. I would be really interested in hearing other viewpoints on business school and building a career in high finance, *conditional* on the current environment.Text

Value of an MBA means different things. In terms of hard cash, they did an extensive survey of Harvard MBAs.Harvard MBA salaries25 years after graduation. Still 15 years of working life left.Median salary = $350,00025% make over $1 million per year.Median net worth = $6 millionStill 15 years of working life left at those high salaries.I think that the $400 K opportunity cost may be well worth it. Also, all the top business schools offer guaranteed loans, so you actually need $0 to attend. The loan covers 100% of tuition and living expenses.What is the alternative? 35-40 years of learning new technologies and writing code at very low salaries.

QuoteOriginally posted by: crazypotatoI don't see how MBA skills are relevant for an S&T role.You need to get rid of these ridiculous pre-conceived notions.