Discussion Overview
The discussion revolves around the decision between pursuing a Master's degree in Computational Engineering (with a focus on finite element analysis) versus a Master's in Financial Engineering. Participants explore the implications of each choice in terms of career opportunities, industry relevance, and personal interests in computational methods and financial markets.
Discussion Character
- Debate/contested
- Exploratory
- Technical explanation
Main Points Raised
- Some participants express interest in financial markets and derivatives, suggesting that a Master's in Financial Engineering could be a good opportunity.
- Others argue that finite element analysis is not particularly applicable to financial problems, which often require different computational methods like Monte Carlo simulations or finite differences.
- A participant mentions that pricing derivatives using finite element methods is an interesting research topic, but not commonly used in practice due to mathematical incompatibilities.
- Concerns are raised about the stability of the banking industry and job security for Financial Engineering graduates, with some suggesting that a degree in Computational Engineering may provide broader career options.
- There is a discussion about the current job market, with some participants noting that salaries in finance have decreased and that opportunities in fields like geology or computational engineering may be more stable.
- One participant highlights the importance of job placement statistics from schools offering Financial Engineering programs, emphasizing the need for alumni feedback rather than relying solely on promotional materials.
Areas of Agreement / Disagreement
Participants generally express skepticism about the value of a Master's in Financial Engineering, particularly in light of potential instability in the banking sector. However, there is no consensus on which degree is definitively better, as opinions vary based on personal experiences and career aspirations.
Contextual Notes
Participants acknowledge that the applicability of finite element analysis to financial problems is limited and that the job market for financial roles has changed significantly. There are also mentions of varying regional job opportunities and the importance of individual qualifications.
Who May Find This Useful
Individuals considering graduate studies in engineering or finance, especially those interested in the intersection of computational methods and financial markets, may find this discussion relevant.
