[hugh3]

I'm sure the idea that there are no jobs out there is exaggerated. A MFE graduate can still find a position somewhere in a bank doing something vaguely related to finance. But the days when anyone vaguely familiar with PDEs could waltz into a bank and quickly start earning $300K may be drawing to a close.

There will, however, always be lucrative jobs for those who are truly brilliant and willing to work on stuff which is kinda boring.

[crasshopper]

The NP posts don't say there are no jobs -- just that junior quant has 1000+ applicants per position.

Jane Street still jingles its bells up at MIT, but for those who are less than six stdev's IQ or don't live in NYC / London, I would say focus on petroengineering instead of quant finance. (Petroengineering is the highest paying college major.)