I'm planning the transition of SWE to quant career. However I only have CS Master degree. So I'm planning to apply for MFE degree. My motivation of switching to quant is, I think quant works closer to money, so the salary and money prospect in future could be better. Another reason is maybe quants have a longer "career life" compared to SWE? Also I know quant industry is full of math/physics PhD, so I'm wondering with only MFE + CS Master, would I have a competitiveness in quant industry? Any comments or answers are appreciated.
Program dependent. Does your MFE program publish alumni employment stats? That’d be a good indicator. Baruch’s publishes extensive reports for graduate employment every year.
similar to research scientist with MS but not PhD
So pretty rare unless your advisor was pretty well known and you top venue pubs?
depends on how elite is the team for Rentec, without PhD is practically impossible assistant/associate professorship is preferred
I did the opposite a few years ago. Don't really see those motivations you have.
None of the top quant firms (Two Sigma, D.E. Shaw, Jump, Citadel) care about MFE. In over 8 years at a top firm, I saw one MFE. Quants definitely don't have a longer career compared to SWE. It's the opposite - the skills you're gaining are very narrow, your employment is subject to market conditions. Ask the thousands of quants making bank working in sub-prime derivatives in the mid -2000s. Those jobs don't exist any more. The right reasons to get a quant job - more money, don't mind the stress, meritocratic environment, no politics. Source: I was a quant for many years at a top buy-side firm.
Thx! So data scientist is definitely a better career than quant?
PMed for some insight
Two of my colleagues went to Wall Street and after a few years came back bald. Good luck.