I want to make a choice between two Master's programs. One is named Finance and another Mathematical Finance. The study program of the former is much more quantitative, and consists mostly of units related to stochastic analysis, numerical methods in finance etc. The former is more or less a standard finance program. An additional option I am considering is an MS in computer science.I hold a PhD in Mathematics (non-finance related, and please don't ask me why I want to do a Masters, it is another story:)) Given this, which one of the three programs would look better to the finance job market?

I'd say go for a Masters in Financial Engineering for both learning and job market purposes, ideally at a well-recognized spot. It's possible your 'Mathematical Finance' is just a name change from that -- although the MFE suggests more computer work will be taught,but will be 1-1 1/2 years instead of the typical 2 for a masters. The shorter duration seems more appropriate to me since a PhD shouldbe able to absorb the material faster. If the program requires a thesis (not all do) and you can write and publish an influential one, even better.

I would not hesitate and pick one in CS with a bend towards statistics, such as many programs offer nowadays. As a second choice only some financial engineering program. I would stay away from too much theory as it pertains to derivatives.Because of your PhD background, you might have a prior to go for something finance related, but I would still consider that the job market is absolutely flooded with cheap financial engineering masters graduates. It's probably true of CS masters graduates as well, but you may find that you can get more easily into jobs both in the tech sector as well as the financial industry with a CS degree.

Doesn't it look bad in general when a person with a PhD in mathematics needs to do another degree to find a job in finance? Not to mention with a PhD in maths one can work in more interesting fields. Oh, the mythical bonuses, I see...

QuoteOriginally posted by: katastrofaDoesn't it look bad in general when a person with a PhD in mathematics needs to do another degree to find a job in finance? Not to mention with a PhD in maths one can work in more interesting fields.Yes it's a consequence of the massive oversupply in mathematically competent people who want to work in finance. More interesting fields are no good if you want to eat. Since the purpose of the Masters is to get a job, choose the finance one that seems most focused on getting alumni placed. You can fill in any gaps in the syllabus with your own study. MS in Computer Science is probably not helpful for getting a job.

I would agree, it does look bad, to me at least, when someone has a PhD in a technical subject and feels the need to add masters degrees on top of that. I have had such people sit in interviews before and it's never been a good outcome. It's just hard to justify.As to, MS in Computer Science is definitely more helpful for getting a job than an MS in Finance if you ask me. But that is just a worthless opinion, I agree. You would need to look at some stats to figure out what makes more sense.

Thanks, for the answers. My main reservation is exactly that I already have a PhD. So, the real question perhaps is whether "a Masters will be of any value or at least not look too bad after a math PhD".For certain circumstances I can not move to any financial place to look for a job for two years or so, hence the idea of doing a Masters.

QuoteOriginally posted by: D1m14r1Thanks, for the answers. My main reservation is exactly that I already have a PhD. So, the real question perhaps is whether "a Masters will be of any value or at least not look too bad after a math PhD".For certain circumstances I can not move to any financial place to look for a job for two years or so, hence the idea of doing a Masters.What kind of Maths PhD do you have? It is a very broad area.

Well it's pure maths, nothing related to finance.

QuoteOriginally posted by: D1m14r1Well it's pure maths, nothing related to finance.What branch if I may ask? Pure maths is very broad. ===string theory?

I have had broad interests in mathematics. My publications were in algebraic topology, representation theory etc. My thesis was a compilation of several papers. String theory is sort of remotely related to some of the stuff that I've been doing...

QuoteOriginally posted by: D1m14r1I have had broad interests in mathematics. My publications were in algebraic topology, representation theory etc. My thesis was a compilation of several papers. String theory is sort of remotely related to some of the stuff that I've been doing...IMO: It's a fine study (but not my cup of tea) if you want to remain an academic but to be honest with you it is almost useless for computational finance.

QuoteOriginally posted by: CuchulainnQuoteOriginally posted by: D1m14r1I have had broad interests in mathematics. My publications were in algebraic topology, representation theory etc. My thesis was a compilation of several papers. String theory is sort of remotely related to some of the stuff that I've been doing...IMO: It's a fine study (but not my cup of tea) if you want to remain an academic but to be honest with you it is almost useless for computational finance.Fair enough, I know that these topics are not relevant to finance. I hope though that it is not completely impossible to get into finance as I know quite a number of people with the similar background who did. However, my question was on a different matter.

QuoteOriginally posted by: D1m14r1QuoteOriginally posted by: CuchulainnQuoteOriginally posted by: D1m14r1I have had broad interests in mathematics. My publications were in algebraic topology, representation theory etc. My thesis was a compilation of several papers. String theory is sort of remotely related to some of the stuff that I've been doing...IMO: It's a fine study (but not my cup of tea) if you want to remain an academic but to be honest with you it is almost useless for computational finance.Fair enough, I know that these topics are not relevant to finance. I hope though that it is not completely impossible to get into finance as I know quite a number of people with the similar background who did. However, my question was on a different matter.My 2.0E-2 cents..I am not a recruiter but I suppose promoting someone with expertise in algebraic topology will be hard if that is the only skill you bring to the table at this juncture. I would personally advise against MSc in CS. They tend to be way too theoretical IMO. Programming you learn on the job (if you are lucky) or by locking yourself up in a room for N months and programming Hull's book in C++. And Paul Wilmott's 3-volume series on Quantitative Finance.At least, this will give you a fighting chance. At the end of the day, it's your decision. ====And in some universities (e.g. Baruch, CMU) you can't get in unless you have done a certified C++ course.

QuoteOriginally posted by: D1m14r1QuoteOriginally posted by: CuchulainnQuoteOriginally posted by: D1m14r1I have had broad interests in mathematics. My publications were in algebraic topology, representation theory etc. My thesis was a compilation of several papers. String theory is sort of remotely related to some of the stuff that I've been doing...IMO: It's a fine study (but not my cup of tea) if you want to remain an academic but to be honest with you it is almost useless for computational finance.Fair enough, I know that these topics are not relevant to finance. I hope though that it is not completely impossible to get into finance as I know quite a number of people with the similar background who did. However, my question was on a different matter.What did they tell you?