Is a MORSE degree worth it?

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I've had a read about the MORSE degree course at Warwick and it looks like a very interesting degree
I would love to go into a career in financial mathematics or high finance (derivs trading etc etc)
My question is how hard is it, and am i better of doing an econ degree (i.e. whats the difference in terms of career opp)?

thanks

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Reply 1

hassassin04

I don't suggest doing MORSE if economics is seen as an alternative option..

Reply 2

lolatmaths

Original post by hassassin04

I don't suggest doing MORSE if economics is seen as an alternative option..

Why not?

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Original post by lolatmaths

MORSE will open up both the soft analytical fields (IBD, Equity/Credit Research, strategy consulting etc) and hard analytical fields (derivs trading, proper maths background for a PhD etc). MORSE is a really cool, varied degree and it most certainly will prep you well if something like derivs is your aim.

Was just trawling through some recent top tier MBA profiles (Harvard, Wharton and Stanford). A lot from Warwick had MORSE + some finance job.

Reply 5

lolatmaths

Original post by Princepieman

Thanks for the reply!
I have heard it is difficult, more than economics at Warwick and i wonder whether its worth doing over economics? I have a passion for economics too but will MORSE open up to more financial careers? Which one do you think is better suited for finance?

Reply 6

hassassin04

Original post by hassassin04

I don't suggest doing MORSE if economics is seen as an alternative option..

Because MORSE is more comparable to maths than economics and you seem to be focused more on economics.

Reply 7

lolatmaths

Original post by hassassin04

Because MORSE is more comparable to maths than economics and you seem to be focused more on economics.

Maths and economics course doesnt seem to have the flexibility in modules that MORSE or economics has.

Idrm maths, even if i do a year of pure maths

I enjoy both but im really talking specifically about future career options with the two

Reply 8

hassassin04

Original post by lolatmaths

Maybe I am very naive but I've always wondered how people "enjoy the subject" and yet their main concern is career options which seem to be quite irrelevant to the subject they learn at uni ( pure maths say) .
It will not be just pure maths in first year, you will have to do quite a lot of theoretical stats too in year 2. That's already half of your degree.
Regarding careers.. MORSE should have an advantage over economics..

Reply 9

username738914

Original post by lolatmaths

Well, if you read my post, you'd have come to the conclusion that MORSE opens up more doors than just econ.

Reply 10

lolatmaths

Original post by Princepieman

Well, if you read my post, you'd have come to the conclusion that MORSE opens up more doors than just econ.

So you saying the jobs that are more mathematically intense isnt open to an Econ grad?

Cant an econ grad get into say derivs trading?

Reply 11

lolatmaths

Original post by hassassin04

I personally see economics as an applied version of maths and stats. It's got a lot of interesting things such as game theory (an apparent favourite at Warwick) along side economic theory and maths in general. Im sure there are plenty that arent interested in the subject but only want it for career options which i dont see as a massive issue.

Reply 12

username738914

Original post by lolatmaths

So you saying the jobs that are more mathematically intense isnt open to an Econ grad?

Cant an econ grad get into say derivs trading?

Yes.

They can, but the exotic derivatives desks would prefer someone with a more mathematical background than just econ.

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Reply 13

lolatmaths

Original post by Princepieman

Yes.

They can, but the exotic derivatives desks would prefer someone with a more mathematical background than just econ.

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wouldnt an exotic derivative trader (and more mathematically rigorous course) basically require a masters? I was always under the impression that quants etc would need one

Reply 14

username738914

Original post by lolatmaths

wouldnt an exotic derivative trader (and more mathematically rigorous course) basically require a masters? I was always under the impression that quants etc would need one

No. You don't need to be a quant to do exotic derivs trading, but a good grounding in maths is absolutely necessary.

Most people on exotics desks have Maths/Maths + something (Physics, Computer Science, Econ etc)/Physics/Engineering degrees.

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Reply 15

Trapz99

Original post by Princepieman

This is kinda unrelated but do people get to choose which desk they work on or does the bank decide? What if I'm placed into equity trading even if I am better suited to derivatives?

Reply 16

username738914

Original post by Trapz99

This is kinda unrelated but do people get to choose which desk they work on or does the bank decide? What if I'm placed into equity trading even if I am better suited to derivatives?

Mix of both.

One model is you order your choices and the desks order who they want, then the two are matched.

Another is you order your choices and whichever desk is most suitable for you, you'll get placed on.

Another would be you're assigned one at random, then rotate around a couple before being offered a place on a desk full time.

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Reply 17

username738914

Original post by Trapz99

This is kinda unrelated but do people get to choose which desk they work on or does the bank decide? What if I'm placed into equity trading even if I am better suited to derivatives?

But you do get to choose between FICC and equity as they're usually on separate trading floors.

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Reply 18

RooT_Fifteen

On the basis of my internship, if your aim is to become a trader, I wouldn't recommend MORSE. The course was looked down upon by several traders, who saw the degree to be jack of all trades master of none.

But bear in mind that this may be different in another bank.