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Re: Ms in Financial Engineering vs. MBA in Finance?
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31 Mar 2014, 04:43
MBA's are great for older applicants, those looking to switch industries, those who didn't study business during undergrad and want to learn it now, those who are looking for a business refresher, those who are looking for a management role. Top MBA's provide you with an amazing network and recruitment opportunities at all the best firms.
MSF degrees tend to be for younger applicants, more junior in their careers. It is focused entirely on graduate level finance so it is best for those looking to work in the financial sector. If you are interested in the CFA then the MSF would make sense. The program is still pretty new so you might have to explain it to some employers, but the flip side is it is usually cheaper and quicker to complete than an a MBA. It also leaves the MBA option open for later on in your career.
Think of it as a mini-rebranding. Most MSF programs in the US are at very good schools with finance recruiting and alumni. You can go, do a year, increase your skills and network and change your career trajectory. As we know with MBA applications, where you work is very important. A good MSF and job after can make that T15 MBA possible.
MFE degrees are basically grad engineering degrees with a finance overlay. Some schools offer more math, some more programming, but you are essentially trained to be a quant. You can of course apply for non-quant roles, but most graduates go into some type of "quant" role. The degree has been around longer (or at least is more prominent) than the MSF currently so you'll have less of an issue "telling your story". That being said, you need more math skills to go into and succeed in one of these programs so many people self select out.
What you choose is really a function of your UG education, what you want to do for a career and what you enjoy doing.