Is a Masters in economics valued in the finacial industry? more specifically im interested in the buy side. Ive read alot about the MBA CFA combo, how does a M.sc AE stack up with a CFA. Or am i better off just starting and get my CFA out of my undergrad?
How is applied eonomics different from just plain ole economics?
Id say ive noticed applied masters have more emphasis on math/stats modeling. Learn a little less theory and more on applying macro/micro models to real world situations. Some programs have elective courses in finacial economics, finance and MBA courses. Depending on the school and program some applied masters may be similar to a plan old masters. I think the main difference is applied program are for students not planing to go a step up to get into a PHD program.
Then again im grabing this from the 3-4 programs ive looked at in the US.
I’m not sure if there is a lot of direct professional fit for Economics masters graduates. Perhaps there is a place in some macro analysis desks, but such roles seem to be sparse. It would be best if you could talk to the career offices at the universities that you are considering, so you can ask exactly that happened to the students in that program.
In contrast, there is significant industry demand for CFA knowledge - FSA, basic financial math, light derivatives and economics. The problem is that there are so many CFA people that it fails to become a differentiating factor in job applications.
^only 120k
I worked in commodity risk management. My director had a Masters in Economics, and I was halfway through my masters but was also a CFA L2 candidate at the time. 100% what got me the interview was CFA and what got me the job was previous related experience. No one has ever cared about the degree other than the occasional “that sounds more fun than my MBA”.
I see, looks like im better off just enrolling in the CFA. Did you do your undergrad in econ? curious to see how econ students found it applying for jobs coming from a non business background.
Undergrad was finance.
Assuming you have no work experience, get that first job in finance and then do the CFA. If by the time you complete L3 and still aren’t where you want to be, go do a good MBA. There are only 1 or 2 programs really worth doing in Canada so do your research.
Alternatively, if you have stellar grades, apply to the UT MFE program. The recruiting out of there is excellent.
Ahh yes the MFE program, no hope for me getting into that program. Also i would never pay the price tag for the top MBAs in Canada. Im assuming queens is one? around 100grand… no way haha. Ill have it easy getting a government job out of school, do to the co op program… thinking i may just work outside of finance till i pass CFA L1 or maybe L2 then move to a bigger city and try to break into finance then.
Queens would not be one of the ones.
I’m going to caution you right now that your path is not likely to be successful. You need a new game plan, and change on attitude in the topic of self investment.