Mathematical Finance

[houman1979]

Hi,

What is your opinion about job market for Mathematical and Quantitative finance? I have degree in engineering and I am expert in modelling softwares and technics such as MATLAB and neural networks.

So far, I have some calls regarding jobs in this field with high salaries (150/day for contract, 40,000 for permanent).

Now, I am thinking about doing a Master in Mathematical Finance in University of Birmingham to inrease chance of getting a good offer in this field. Do you think it worths to do a master with Tier 1 and then looking for a good job?

Any comment appreciated.

[renzokuken]

So far, I have some calls regarding jobs in this field with high salaries (150/day for contract, 40,000 for permanent).

Mind you £150/days is a low figure for contract jobs.

[houman1979]

Is there any comment? It is worth to spend one year of Tier 1 visa in a Master to earn more in future?

Regards

[aliq09]

Hi,

What is your opinion about job market for Mathematical and Quantitative finance? I have degree in engineering and I am expert in modelling softwares and technics such as MATLAB and neural networks.

So far, I have some calls regarding jobs in this field with high salaries (150/day for contract, 40,000 for permanent).

Now, I am thinking about doing a Master in Mathematical Finance in University of Birmingham to inrease chance of getting a good offer in this field. Do you think it worths to do a master with Tier 1 and then looking for a good job?

Any comment appreciated.

My friend ..good day!

Kindly make sure that you can study on TIER1 visa as full time student . In my best knowledge , it is not allowed . You have to come on Student visa ..... not on TIER1 ....

[houman1979]

I asked before in this forum about this matter.

According to rules and guidances there is no problem for studying under Tier 1 other than wasting one year in study and then face difficulties in gain enough salary to extend.

[geeteshanand]

40k or 150 per day..is low wages..(for single you will be just ok). But for decent lifestyle incase you are married..i would say GBP 4,000 per month take home,i.e. post tax

[houman1979]

Thank you for your answer,

But I again repeat my question: doing a master in Mathematical Finance, Statistical Modelling or Mathematical Modelling will have any effect in my career?

Regards

[kenfrapin]

I asked before in this forum about this matter.

According to rules and guidances there is no problem for studying under Tier 1 other than wasting one year in study and then face difficulties in gain enough salary to extend.

You have been advised incorrectly and let me explain why

1. Tier 1 is meant for skilled people looking to work in the UK and a means towards permanent settlement - ok that everyone knows
2. When you apply as a student, you will pay international fees. Now when you pay those fees to the college, you have to be on the RIGHT VISA to a - get admitted and b - actually pay international fees.
3. From above, being on Tier 1 visa does NOT qualify you to pay FULL International Fees and study as FULL time Student. You have to convert that visa into a Student Visa and then proceed.
4. Once you complete, you will anyway get a Tier 1 Post Grad visa or whatever. It is because this option of Tier 1 for PGs that existing Tier 1 who come here to work cannot suddenly decide to study full time

I know because I have called the consulate and asked this in detail. I too stated the same reason as - I have 3 years on my visa, I am ready to pay the fees so why not and I got the above answer about being on the RIGHT VISA to do the RIGHT thing - Tier 1 is given to those seeking employment and Student Visa to those who want to study.
Once again, from the above explanation, Tier 1 holders can study PART TIME only as this does not require you to change your visa status.

My advice is you better double check if you really can study FULL time as an international student mate

KP

[kenfrapin]

Thank you for your answer,

But I again repeat my question: doing a master in Mathematical Finance, Statistical Modelling or Mathematical Modelling will have any effect in my career?

Regards

Simple Answer - if you dont know the answer to the question, how the hell do you expect anyone out here to know???? Plus we dont know you, we dont know how good you are in this field and we dont know anything - do you know all this first to ask such ridiculously subjective questions that add no value to you or us? Come on

KP

[houman1979]

Thank you for your comments.

I asked this question because this topic is related to employment and therefore there are so many questions regarding job market for JAVA, IT, Oracle or something else.

Then, I asked this question about job market of Mathematical Finance and Moddelling. I asked that if studying a master (full-time or part-time) will increase chance of getting a better job because I am a newcomer to the UK. For example, I know that in Accounting, getting a Master or PhD is not helpful. Or I know that in my own country (Iran), getting a higher degree does not have a significant effect on your career prospectus.

Then, do you think my question is irrelevant? I do not think so and I hope someone guide me properly.

[kenfrapin]

Ok then going by what you say - anywhere in Europe and most of rest of the world, specializing in a particular field always reaps more rewards and that is sort of a given.

That, however, doesnt GUARANTEE anyone a lucrative career with loads of money and their DREAM job - hope that makes sense

You say you got a job for £40k currently which means there is demand in your field so doing a Masters may not hurt BUT there is a lot more to consider other than just doing a Masters
1. Will you study in the top 2 or 3 colleges in the UK? If yes, then you have chance of getting much more than £40k
2. Where does your domain knowledge lie? For example - Banking and Finance jobs pay great but Pharma not as much. So your previous domain knowledge plays a big role
3. What is your actual work experience. To get £40k means either your really smart or you have very good experience - so either ways, doing a Masters may open more doors for you - this is a known fact in Europe

Back to what this forum is about - it is more on what is there in the UK, whats the job scenario, how things are currently and so on - these are all GENERIC to UK employment scene as a whole and not specific to one person's needs. Your post however asks if YOU have better chances if YOU do a Masters and if YOU will get a job better than £40k - to that my answer is 'How do we know because we dont know YOU'

Hope I made it clear and wish you the very best. It all depends on you and your circumstances that make you decide to either for a top notch Masters or take the £40k job. From your clarification, it seems you have a better chance if you pursue your masters but
1. Ensure you are legally allowed to do your Masters on Tier 1
2. Chose the right college

My advice in this current market is to take the £40k job, it is really a good package, get a feel of life in the UK and if you like it or not, learn about about your field and the options available to you if you chose to do Masters and then plan ahead. You can also think of doing a Part Time Masters which is as good as a full time option. This way, you are still working, building experience and doing your Masters. Although it takes longer, its a much safer and sensible option in today's scenario

KP

[houman1979]

Thank you for all your comments and points. Unfortunately, they did not offer me that job, if they did I would certainly accept it as it was my first job in the UK and it seems a very good salary.

About the legal requirements, I sent emails to British Embassy an HO to be sure about that. But in the case that I could not do master full time, I can do that part time (a point which you stated that as well).

[kenfrapin]

Bad luck on not getting the job but do note another point about such job adverts

Recruitment agents state jobs with salaries UPTO £40k so remember they even offer just £30k stating insufficient exp or some other bull reason. This is a very very common ploy by all recruitment companies. They state very high salaries and in the end when the final offer comes, it's nowhere close to what was said in the first advert - they always have an excuse. Thats maybe coz they get some kickback from the company to get the candidate for the least possible salary.

So do keep that point in mind when you plan things ahead and decide on your Masters. In the current market, a £40k package for a perm job is termed as 'good'. Basic or an average salary is between £28k and £35k and a low job is anything between £20k and £26k. This is specific to IT and perhaps to your field as well although I have no clue if Mathematical Finance has openings in sectors like HealthCare, Insurance, Aerospace Engg and so on - this is something you need to dig further and find out yourself as it is not very common to this forum

Cheers
KP