in Depth PhD in Fin Math or Superficial Broad skill Set MFE

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in Depth PhD in Fin Math or Superficial Broad skill Set MFE

Postby ram1234 » Mon Jan 16, 2012 6:07 pm

Again after going through some blogs especially commented from people from US I found that there's some kind of perception in the financial industry that can be stated as

1. A PhD in Financial Math is quite rigorous in a narrow area and hence imparting you a superior skill set than MFE guys only in that narrow span where as in many of the other areas of quant finance u'll be largely ignorant or less informed and trained.Ex: quant finance concentrating option pricing may make you master in Monte carlo or SDE solutions but still other statistics, regression etc etc are to be learnt.

2.MFE may not make you master in any specific areas but you have enough training covering so many areas of quant finance.It's like an engineer solving navier-Stokes equation , building a fluid passing filter and selling it without proper understanding of even Finite element method.

So according to your experience do think this perception exists and the MFEs are largly favored in especially investment banking jobs except hedge funds where it demands writing new algorithm and implementing it.

Final Question
Considering an admission offer from HAAS -UC Berkely MFE or Columbia MFE vs OXFORD PhD in Fin Math or ETH Zurich PhD in Fin Math which one would you prefer solely and exclusively from future job prospective and career growth ??????

Thanks in Advance Dr Joshi.

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Re: in Depth PhD in Fin Math or Superficial Broad skill Set MFE

Postby mj » Wed Jan 25, 2012 2:07 am

well phds tend to be more popular when they want initiative, and MFEs where they don't. Arguably particularly in the US, there's been a lean towards more routine jobs that don't require Phds.

I'd go for the oxford D.Phil.
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