Mq's M App Fin OR UTS' M Quant Fin?? (1 Viewer)

[notwithstanding]

Hey guys,

Looking for peoples opinions on which is the better option between Macquarie Uni's Masters of Applied Finance and UTS' Masters of Quantitative Finance.

I'm 21 years old and have just completed UWS' Bachelor of Financial Planning with a d average and have two years experience as para planner, so I shouldn't have any issues getting into either program??

The purpose of the master degree is to leave myself open to the option of moving into funds management or derivatives trading or financial analysing in 2-3 years time.

Basically, financial planning is gay and unchallenging and I actually want to use my brain as opposed to being a glorified salesperson.

I understand that "UTS was founded as a TAFE so it technically seems not very appropriate to be compared with MQ..." (blackrider89) but if people had other input specificly about these programs and their relative strengths/weaknesses, etc. that would be much appreciated.

Regards
-NWS

 

[Monstar]

Do a search around man and youll see that many people dont really rate masters in finance with any high regard if you've just graduated from uni.. not sure if it applies to you cause i dont know whether they were talking about experience in back/mid/front office type roles.

I do know that MQ has the largest Applied finance centre in the southern hemisphere. Thats all i can share. Personally i think youll be better off getting a CFA but im not sure how you'll obtain that.

 

[Supra]

Hey guys,

Looking for peoples opinions on which is the better option between Macquarie Uni's Masters of Applied Finance and UTS' Masters of Quantitative Finance.

I'm 21 years old and have just completed UWS' Bachelor of Financial Planning with a d average and have two years experience as para planner, so I shouldn't have any issues getting into either program??

The purpose of the master degree is to leave myself open to the option of moving into funds management or derivatives trading or financial analysing in 2-3 years time.

Basically, financial planning is gay and unchallenging and I actually want to use my brain as opposed to being a glorified salesperson.

I understand that "UTS was founded as a TAFE so it technically seems not very appropriate to be compared with MQ..." (blackrider89) but if people had other input specificly about these programs and their relative strengths/weaknesses, etc. that would be much appreciated.

Regards
-NWS

lol at the blackrider89 quote

I was faced with the same dilemma at the end of last year.

I asked a Portfolio Manager from my Front Office (I work in Funds Management at Macquarie) and she is a fully qualified CFA. She advised me to pursue the M App Fin at Macquarie (rather than jumping straight into the CFA). She says its well-regarded in the industry, and will give me the skills/knowledge needed in analyst positions. From there, I should then look at CFA, for the purposes of going for overseas jobs.

However that's not to say that the UTS Masters of Quant Fin is not as good. My mate who does pricing at Westpac has done the Masters of Quant Finance at UTS, and from what he tells me, the mathematics involved is quite intense. It would be good preparation if you wanted to become an actual Quant Analyst (n.b. you would need to pursue a PhD for such roles).

Your decision should then be based on whether you want to really focus on your maths (quant) skills or go for a more rounded post-grad finance qualification.

Do a search around man and youll see that many people dont really rate masters in finance with any high regard if you've just graduated from uni.. not sure if it applies to you cause i dont know whether they were talking about experience in back/mid/front office type roles.

I do know that MQ has the largest Applied finance centre in the southern hemisphere. Thats all i can share. Personally i think youll be better off getting a CFA but im not sure how you'll obtain that.

CFA is not the be-all end-all of qualifications, and requires a lot of memorization. If you want to further develop your skills and knowledge, the masters would help you do it, especially given that you probably haven't studied much in-depth finance at an undergrad level.

My point about the memorization is that we all cram at uni, how much of that crap do you actually remember? The Masters requires you to do a lot of practical case studies, and makes you apply what you learn, rather than memorize the formulas and be on your A-game on particular day.

The CFA is a great qualification, and some people have the talent to do it straight away. However, look at the failure rate. Most others should consolidate their skills before pursuing it, and that's where the Masters comes in, as a stepping stone.

What I did: I'm doing the M AppFin at Mq and then intend to pursue the CFA afterwards since I know I'm not ready for Parts 1,2 and 3 at present.

I personally wouldn't like my chances in the M Quant Fin at UTS, it's not my cup of tea

-my 2 cents

 

[notwithstanding]

Hey guys, thanks for your input! Much appreciated.

Supra - what would you recommend I do in terms of getting my foot into the door of the funds management industry? Apply for each respective dealer's summer internships, apply for graduate position?.. Should I wait until I've finished my masters or try to get in now? Do you enjoy working in the industry?

NWS

 

[Supra]

Hey guys, thanks for your input! Much appreciated.

Supra - what would you recommend I do in terms of getting my foot into the door of the funds management industry? Apply for each respective dealer's summer internships, apply for graduate position?.. Should I wait until I've finished my masters or try to get in now? Do you enjoy working in the industry?

NWS

Look for summer vac/grad roles within the front office first (hard to get given the current market conditions etc.). Failing that, look for middle office roles within Corporate Actions/Trade Support/Pricing to get your foot in the door. Apply asap, don't leave it til the end of masters.

Yes, I like working in the industry, the hours aren't as long as IB but I'm still being challenged in my role and theres a lot of room for career development.