Hello guys;
I’ve done with my master in finance,however I couldn’t find a job in buy side most probably due to lack of green card.In order to stay in this country and extend my resume I am considering to apply for second master degree.I had a passion in risk side while i was taking courses in my master.I need to learn some coding also I guess.Which one makes more sense as a second master quantitative models or financial risk management?
Appreciate for your comments…
cnon, I am assuming you are talking about a second master’s in risk management, since the separate FRM credential would not allow you to extend your stay in the country? If you did not have the green card issue I would not suggest a second masters; in this case though, I see where you are coming from.
In general, I would not focus on the title of the degree (i.e., quantitative or risk or whatever). Most programs are going to be generically named Master’s of Quantitative Finance or Master’s in Mathematical Finance (or some variation like Financial Engineering), but I have found that the quality of programs varies tremendously and the name of the program is not necessarily correlated with the underlying curriculum. I would look at the program guide and assess the following:
– How long the program is (i.e., are you extending your stay by 1 or 2 years?)
– Background of instructors (do they come mostly from industry or academia? If academia mostly, do they have the name-brand in the industry to avoid being part of that academic clan that loves to make models in the classroom, but don’t know what it’s like to have positions on the line in an asset management or bank risk management context?)
– Coding classes given (see how many they offer, if you could conceivably take all the ones you needed, etc. It would be good if they offered overviews of Java, Python, MATLAB, etc. in addition to the usual suspects of VBA and C++ or other C variations like C#).
– Is the focus more on bank risk management, asset management or other quantitative applications within finance? Carefully look at all courses offered and call to speak with administrators and professors.
Here are two great resources to help you sort through all the programs available:
https://www.quantnet.com/mfe-programs/rankings/
but a more exhaustive listing is available at:
http://www.iaqf.org/academic-programs
(IAQF used to be the IAFE – great industry organization).
Good luck.
Thank you so much for your response.I am hesitating to go with the second master,I have read some forums and most people don’t recommend it due to the cost and lack of benefits when you graduate.I can go with certificate program in order to extend my stay in the U.S. however I seriously don’t believe that I will learn much in certificate courses.I already discussed with admission office of one of the schools I consider to apply.They told me I would get some expirence in Matlab and VBA during the courses.Further,they mentioned that if I don’t want to stick with NYC area,I will be offered a nice job and sponsorship after graduation.I really don’t know what to do.