I wrote my bachelor thesis about European Option Pricing under Stochastic Volatility and Jump Diffusion and am now near the end of my MSc in Quant Finance. As i want to write a "potential job"-oriented master's thesis I wanted to hear some advice. So maybe a pretty "dumb" question: do practitioners use for instance stochastic volatility jump diffusion models? And are Derivatives/Structured Products priced mainly via Monte Carlo (using variance reduction techniques and assuming there are no closed form solutions available) or do banks employ more complicated techniques like fast fourier transform? Can anyone share a practical insight?