May 13, 2006

EE -> SE -> FE ?

Since my relocation to the US is virtually guaranteed, I am getting much more serious about my strategy. I am planning to dedicate a few posts to my contemplation of a few key areas in order to sort various and sundry ideas out. Today's installment is about education.

To begin with, I graduated with a degree in Technical Physics. As a matter of fact, it was a typical Electrical Engineering curriculum diluted with in-depth courses concerning diverse applications of electromagnetism. I admit I was not overly interested in the field because of my long-lasting passion for programming. On the other hand, I did enjoy a few computer-related courses from Digital Electronics and Digital Signal Processing to Data Acquisition Systems.

Having started my career as a programmer with very little knowledge of the field I worked my way up the food chain. I am proud of the fact that I have reached my current level where I am comfortable with major Software Engineering areas. I had a privilege to work in foreign companies on highly sophisticated systems.

Here comes the pain. The software I am likely to come across in the world of outsourcing is not particularly exciting for me. Being on H1B I can hardly hope to join a core team working on a challenging product (unless I desert the bodyshop for a direct employer and significantly increase the risk of unsuccessful EBGC because of, say, layoff at the last moment). The kind of software I am likely to deal with is web-based MIS, the domain I was not fond of even during my early days. All this stuff requires pretty straightforward, mechanical type of knowledge with a hefty dose of web GUI which drives me mad. Moreover, being positioned as just a java developer means direct competition with millions of young and eager colleagues. Marketing 101 says that this is a lousy proposition.

Taking into account my old dream of a business-related degree I believe I have an exciting opportunity to convert years of H1B slavery into the dawn of my next career. There are a few concerns I deem to be vital. In particular, I would like my degree to:


  • provide me with decent academic credentials

  • be in a sophisticated domain with relatively high entry barriers

  • make me more employable, especially when I am in my fifties and older

  • provide better compensation perspectives in the long run

  • utilize my engineering and programming background

  • challenge me to the point where I would transcend my current self-image



Currently, I am looking into possibility to enroll as a part-time student in either an MBA program with concentration in Finance or a MS program in Financial Engineering. The booming Finance industry seems to be orders of magnitude more diverse, exciting and even math-based than the Telco domain I used to enjoy. MBA could come handy once I am ready for promotions and augment my acutely technical background. In addition, it would be a major exercise in stretching me beyond the comfort zone.

On the other hand, recently I have heard enough less optimistic opinions on this idea. Some people believe that only a top-school degree justifies the necessary investment of time and money. They believe that additional education is hardly necessary to secure a development-related position or low-level promotions even in financial companies. Moreover, studies mandate particularly inconveniencies concerning schedules. For example, MS programs are taught at weekdays after 6PM and even MBA programs require at least one weekday evening weekly. I admit I am sort of puzzled.

Nevertheless, I would like to share the results of my research in the field of part-time programs in the vicinity of NYC. It makes sense to start from a slightly outdated Businessweek review of MBA programs and a summary of MS in FE programs. Sadly enough, in both cases the best programs are provided by the top schools known for their full-time programs. Consequently, they are significantly more competitive and expensive. A number of them are also located all across the state if not New England itself.

A viable alternative seems to be second-tier universities. They are pretty affordable, frequently situated in downtown NYC or comparably available locations. From what I have seen I believe my short list looks as follows:

posted by Nick at 2:37 PM