Do You REALLY Need a Master's to Land in Quant?
Thursday, September 3, 2026 at 2:00 PM PDT. Hosted by Fiona Taft.
In this Zoom session, Fiona Taft examined whether a Master's degree is a need or an edge for breaking into quant finance. She covered how a Master's…
What this session covered
In this Zoom session, Fiona Taft examined whether a Master's degree is a need or an edge for breaking into quant finance. She covered how a Master's affects sell-side and buy-side hiring and starting pay, what the degree is worth for quant research, quant trading and quant dev roles, and a framework for deciding whether to pursue one.
Key takeaways
- A Master's is not required to get into quant; some undergrads land roles directly, depending on their major, their technical skills and whether they attend a top-brand university.
- Fiona said a lot of big banks have different pay grades by degree level; at Morgan Stanley, for example, undergrads come in at the analyst level while Master's graduates come in as associates.
- A Master's does not guarantee a quant job, so candidates still need to work on their resume, their courses and a good GPA in the program.
- For international students, a Master's in the US or the UK provides work authorization and visa runway.
- Fiona sees a Master's as most valuable for quant research, a way in for quant trading, and less valuable for quant dev, where many CS and DS majors enter.
- Candidates need backgrounds in math, statistics, probability, data science and computer science, plus finance, economics and econometrics coursework.
- Networking matters because the quant field is a very small community.
Questions covered
Answers are edited for clarity.
Is joining a prop trading firm and developing successful trade strategies a good credential for getting into an MFE program?
It's one of the credentials, but it depends on how long you've been with the firm, its standing, and how much AUM you manage. Programs also look at whether you can handle graduate-level work, where you went to undergrad, your courses and your recommenders. For about 90% of these programs, a high quantitative GRE score, in the 80th to 90th percentile, is imperative.
Is it possible to land at buy-side firms straight from undergrad?
Sure. If you go to a top brand like Princeton, Harvard, Stanford, Berkeley, UCLA or UChicago, among many more, there's a possibility there. But the best way to get into these firms is going to be through a Master's.
If I take out student loans for a Master's, how quickly will I be able to pay them back?
You can find this information on many programs' websites, and a lot of them say anywhere from 1 to 2 years, or 2 to 4 years. Everyone has a different financial situation, but the salaries and bonuses you can earn grow exponentially as you come out of a Master's. It might be slower as an undergrad, depending on your school and whether firms recruit from it.
Is a Master's worth the money?
Most times it is, depending on the program. Baruch is a small, very affordable program, but it is extremely competitive, while schools like Berkeley are in the upper echelon. You also have to think about the cost of living where these programs are, because beyond tuition you have rent and how you will support yourself while in the program.
Are quant firms still hiring international candidates?
Yes, they are. You will see some firms that are not, but the majority of firms are still hiring international candidates, and they look very highly on U.S. candidates too.
Which competitions should candidates concentrate on, which trading platforms are good for developing projects, and should candidates pick an asset class they are passionate about or stay agnostic?
I probably only have time to answer about competitions. Many firms sponsor competitions, held virtually or at universities, so undergrads should look at those on Berkeley's, CMU's and NYU's campuses, and at UCL, Oxford and Imperial. Ones sponsored by the firms you're targeting are really great, and IMC has its Prosperity competition. For a competition to be valuable, you need to place highly.