Non-MBA Masters Programs that will help get jobs and succeed in Finance?

Graduate School Business School - MBA
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<p>Some of the more prominent members on this board have commented that a Masters in Financial Engineering or a Masters of Finance will prepare a student more for a job in the financial world than will an MBA, and I had some questions about this: </p>

<p>First of all, which degrees will help you GET jobs/offers in finance?
Masters of Financial Engineering? Masters in Operations Research? Masters in Economics? etc.</p>

<p>Second, what degree do you feel will help you prepare for a career in finance better? That is, not necessarily which degree places better than the MBA, but rather which one produces students that are more likely to succeed in finance? </p>

<p>Also, could you please comment on whether the degree you mentioned is a terminal degree, or one that after receiving work experience could eventually be paired with an MBA down the road? </p>

<p>Finally, if you have the knowledge, could you comment on which schools offer the best quality/top recruited of the degree you are recommending. Note that unlike MBA's where I at least familiar with the associated jargon and acronyms, I probably do not know much about any masters program you might be discussing. </p>

<p>Thank you so much.</p>

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<p>Check out the top master of finance and financial engineering programs as these will place you the best. </p>

<p>Princeton
MIT
haas
lse
lbs
Chicago
cmu
oxford</p>

<p>to name a few</p>

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<p>How would you say Cornell’s MFE program stacks up against the schools you mentioned?</p>

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<p>bottom of the list</p>

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<p>Regarding Oxford, where in that list would you place it?</p>

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<p>

</p>

<p>That is completely dependent on the job. Ibanking, management consulting, private equity -> you need an MBA.</p>

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<p>^ However, I can obtain a masters a MFE or Masters of Finance after my UG degree (most likely under a fellowship), how much of an advantage would this put me at compared to other students with only UG degrees when going for an analyst job, or would it even be possible for me to go for an associate position if I had had multiple summers of analyst experience already? </p>

<p>For the record, my UG was a target school, so it’s not like I’m trying to obtain the MFE in order to make up for my UG education, and as of now I have a good GPA, so I’m not trying to make up for that either. </p>

<p>Also if someone could comment on how normal it is for a student to get a MFE and then later down the road get an MBA, that would be great as well.</p>

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<p>

In case you’re interested to know, Berkeley-Haas’ FE has the best employment/career record from this list. <a href=“http://mfe.haas.berkeley.edu/[/url]”>http://mfe.haas.berkeley.edu/&lt;/a&gt;&lt;/p&gt;

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<p>roneald, I have heard multiple times from bankers at recruiting events that the MFE kids gain no extra advantage in going for investment banking analyst roles than the UGrad kids. However, multiples summers of investment banking analyst experience will definitely be an advantage. For more quantitative jobs (quant trading/quant research) though, I would imagine the degree would be of use.</p>

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<p>If your school is already a target, work hard and get a job in finance. After a few years, then think about the grad degree, that is, if you need it.</p>

<p>You’ve probably found out that a degree (since you attend a target)doesn’t guarantee anything. It’s up to the individual to make the best use of opportunities.</p>

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<p>Mhm the reason I’m asking is that there are two options in which I could get a MFE: </p>

<ul>
<li>Graduate in 3 years and apply for a MFE in my 4th year</li>
<li>Do a fellowship after I graduate UG. </li>
</ul>

<p>Obviously, the second one is far less likely than the first (there is no guarantee and very little chance I would get one of the necessary fellowships), but the first one I have a guarantee of being able to do if I want to. </p>

<p>I asked about Cornell because this would be especially helpful, since I go there for UG and if I wished to apply I would not have to take the GRE (there’s a great direct application a process), and as an added bonus as long as I did the joint program (where the MFE is mixed into my UG degree, meaning I take at least basic intro classes my junior year), my financial aid would cover me for the 4th year as well. It wouldn’t rush me classes wise either, since I already have a year’s + of credits in AP’s. </p>

<p>Not to mention, I was almost an ORIE major in college, so I definitely have a strong interest in the field. </p>

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<p>This is the main issue that I was looking to deal with, as at this point I might rather just fill my senior year with humanities/social science classes that I find interesting, and at that point it would be an issue of would I rather take ORIE classes vs humanities classes (but if the MFE would give me a huge edge it would make that decision a lot easier). </p>

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<p>I actually almost went to Cal undergrad to double major at Haas and the engineering school at ORIE, but I didn’t think I could get it done in 4 years (plus I hate the Cal system of GE’s), so I’m definitely well versed with their program. I’m from CA too, so in state tuition makes this an appealing option as well. However, for them I’d actually have to take the GRE. </p>

<p>Sorry to pester, but can anyone comment on how well Oxford, LBS, or LSE stack up to the US power houses such as Haas and MIT? (This is in the rare case I win a fellowship.)</p>

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<p>Do not simply assume you can get into a top MFE program. They select extremely heavily for quantitative ability (as they should).</p>

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<p>Well as I said, getting into the Cornell one would be a guarantee and if I were to get a fellowship that would take care of acceptance into those schools as well; however as I earlier stated should I look to programs like Haas I would need to take the GRE and my attending programs outside of Cornell/British schools would be contingent on new factors.</p>

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<p>I posted this in a previous thread concerning MFE programs…</p>

<p>The MFE program will prepare you for quant roles in finance, i.e. derivatives trading, pricing and structuring, and quantitative asset management. These are jobs that generally require a technical degree. </p>

<p>For other kinds of jobs, i.e. investment banking, straight equity trading, etc, the MFE program won’t help much. Groups that hire for these kinds of jobs don’t seek out MFE-type skills, because they aren’t required. </p>

<p>Some people want the former kind of job, and some people want the latter. If you fall in the first camp, then the MFE track is the track you will want to pursue. In my opinion, unless you want a job where you are potentially using math and programming (C++/Java) every day or trading an exotic product, the MFE track won’t be for you.</p>

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<p>^ Thanks a lot tmoney, that is exactly what I was looking for.</p>

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<p>Also, Oxbridge, LBS, and LSE are top flight programs in the UK. Keep in mind though, you will be recruited for jobs in the City after graduation. </p>

<p>LBS has very few pre-experience programs. The MSc Management program comes to mind. </p>

<p>Oxbridge and the top programs at LSE are extremely competitive. Oxford has averages of 3.75+ for GPA, close 800 quant on the GRE, and 720+ on the GMAT.</p>

<p>And (someone can correct me if I am wrong), these non-MBA masters programs have been around longer in the UK than the US. So they are well respected in the UK. The MBA is more of an American deal. </p>

<p>That being said, all of these programs place well in the City. </p>

<p>Since you are already from a target, I would gain some years of experience and then return for a top MBA after a few years.</p>

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<p>tmoney said everything I wanted to say. lol</p>