Stony Brook University - Master in Quantitative Finance

When reviewing a university program, I like to focus on three main points: quality of education, career opportunities, and cost.

1) Education: This is probably where the program is at its best. Most of the coursework you will see at Stony Brook is well chosen. The program is definitely math oriented, focusing on some more intense coursework. There are a few courses for me that fell flat during the degree. Keep in mind that graduate education is what you make of it, you could probably go through this program without learning anything if you wanted. Most of the professors are pretty solid, a few of which standout. They are incredibly helpful and will spend a lot of time helping you out.

2) Career Opportunities: This has been the most publicly debated point. Unfortunately these programs do not come with a guaranteed full time offer, so I can't confidently tell you that going to Stony Brook will get you the job you want. I would argue that career services could be doing more for their students. There were some opportunities when I was there that I was able to take advantage of (student assistantships, research) that I believe was critical for my career path. I think what people struggle with here is their inability to lead themselves through these processes. Someone who is capable of getting themselves where they need to be for interviews, networking, etc. will put less blame SBU's career services department. Do not expect Stony Brook to hand you an internship. I believe there were some programs that forced internships on students, not sure how well that worked out long-term.

Side note here, I would be cautious with employment opportunity based discussions that have taken place over the last few years. The job market is horrible for everyone at the moment. We should use this as a test case for MFE programs. Compare it to a portfolio manager - it's easy to be up when the market is good, downturns tell who is finding an edge. I kind of imagine a lot of these programs were just riding the high of the late-2010's/early 2020's hiring spree.

3) Cost: Another huge strong section for Stony Brook. I've been a student before - I understand how difficult it can be to put money in perspective. It is really easy to say something like: "well I have loans, this is just part of the process, I will figure out how to pay it off when I graduate." Do not fall into this trap. The reality in life is some people can afford 100-120k graduate programs, some can't. Do not overspend in grad school with the expectation that you will make up for it quickly.

I would be honest with yourself when you pick a program. If you are good at managing the larger picture, Stony Brook could be a good option. If you require a more personal touch (aka hand holding), this may not be the best pick.

Here is my personal experience:

1. Faculty

In my experience, the program’s faculty have been excellent. The professors I’ve worked with are knowledgeable, approachable, and often incorporate insights from industry and research into their teaching. Their willingness to engage with students has been one of the strongest parts of the program for me.

2. Teaching and Coursework

The curriculum is mathematically rigorous. Many courses go deep into topics such as convex and non-convex optimization, stochastic calculus, and multivariate statistical methods. This has been extremely valuable for building a strong foundation in the quantitative side of finance.
That said, the level of technicality also means that a significant amount of learning inevitably happens through independent study. Some instructors use Zoom-based lectures, which works for many students, though I personally find in-person discussions more effective. Overall, the program rewards students who are proactive and comfortable taking ownership of their learning.

3. Funding for PhD Students

From what I’ve observed, funding opportunities for PhD students in Quantitative Finance can be limited. Securing full support often requires finding a specialized internship or industry placement, which can be competitive. Faculty members do try to help by recommending students to smaller quant firms, but opportunities are not guaranteed, so prospective students should be aware of this aspect.

4. Career Development Support

Career development is an area where students need to be highly self-driven. Unlike some other programs with established placement pipelines, there isn’t a structured matching or placement process here. Most students take the initiative to apply widely and network independently. While faculty may provide guidance when asked, success largely depends on the student’s own efforts.