University of Chicago - Master of Science in Financial Mathematics

University of Chicago - Master of Science in Financial Mathematics

Overview Rankings Costs Reviews (33)
Leave a rating
Currently the Program offers 15 months of accelerated, integrated coursework that explores the deep-rooted relationship that exists between theoretical and applied mathematics and the ever-evolving world of finance. To assist our students with applying theory to practice, we offer Project Labs with area employers to help build out our student's skills and knowledge about the quant industry. Our Program, with its unmatched student body and highly accomplished faculty, works hard to uphold the University’s core values by creating an atmosphere that encourages intellectual collaboration and growth.

Lastly, students of the MSFM Program at the University of Chicago enjoy a world-class education. Courses are taught by a combination of established academics and industry professionals. Beyond academics, the MSFM Program offers students the opportunity to grow both privately and professionally. Networking events are held regularly to encourage communication and professional growth.

Our mission is to equip our students with a solid foundation in mathematics, and in doing so provide them with practical knowledge that they can successfully apply to complicated financial models. Our students become leaders in their field; program alumni have gone forth to find success at companies like JP Morgan, UBS, and Goldman Sachs

Interested in learning more? Request information by going to: The University of Chicago | Financial Mathematics and someone from our admissions team will follow up with you shortly.
  • Like
Reactions: Jaehwa Youm
Author
Andy Nguyen
Views
50,972
First release
Last update
Rating
4.70 star(s) 33 ratings
Students Quality
5.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
4.50 star(s)
More information

Share this resource

Latest reviews
Headline
Very competitive program with high quality students and helpful career supports
Per my experience working with students. This is a very competitive program with talented and hard-working students and high-quality teaching faculty. It has a very active and responsive career-supporting team as well.
Recommendation
Yes, I would recommend this program to a friend
Students Quality
5.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
5.00 star(s)
Upvote 0 Downvote
Headline
Evening classes available!
The cohort consists of a healthy mix of young graduates and more mature students with experience in the industry. This diversity is reflected throughout my experience at the program. Students have prior background in financial mathematics are also allowed to take a certain number of electives from other departments (e.g. the renowned economics program or business school). The new track system allows students to build a more tailored curriculum and focus on areas that they're most interested.
Recommendation
Yes, I would recommend this program to a friend
Students Quality
5.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
4.00 star(s)
Upvote 1 Downvote
Headline
Finding a full time job will be much more dependent on individual skills and efforts.
I graduated from UChicago FinMath in December 2022 and will be joining as a quant strategist at a Chicago prop shop.

Career Development Office
As mentioned in the previous reviews, Emily is an amazing career advisor. Not only does she give excellent interview and career advice, she also provides the moral support that is needed during the recruitment process.

Course reviews:
There are some courses in the program that I believe are worth taking:
- Portfolio Theory and Risk Management I
- Options theory/Numerical Methods
- Stochastic Calculus
- Regression Analysis and Quantitative Trading Strategies. This course does have mixed reviews but I personally enjoyed it. It gives you an insight on how to manipulate data and simulate simple trading strategies.

For Seb's programming courses, I believe that they are good if you do not have a CS background. If you do, this course is should be more of a review and grinding Leetcode/Hackerrank will be more helpful (which is pretty much the homeworks anyways).

The program also gives you the opportunity to take courses from other departments. Students should leverage this and take courses such as probability and statistics and machine learning courses from other faculties. I also highly recommend that you take a course from Chicago Booth; some of the courses there are very well taught.

Project Lab
Project lab is a nice touch to the program. It allows students to work with industry employers on a quant project. This experience can be used as a resume boost and be talked about during interviews. Students can also get internships and full time roles from this as well.

Conclusion
Overall, I had an amazing time in the program and will really cherish my 15 months there. I would take the Quantnet 2023 rankings with a grain of salt and do your own research into all the Master's programs. At the end of the day, making it to any of the top programs is impressive and finding a full time job will be much more dependent on individual skills and efforts. Hope this review helps!
Recommendation
Yes, I would recommend this program to a friend
Students Quality
5.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
5.00 star(s)
Upvote 4 Downvote
Headline
You get what you want. Chicago winter is brr
I graduated from the UChicago Fin-Math program in 2022 Dec and I am starting my full-time quant trading role at a market-making firm in Chicago in 2023 Feb.

My background:

Undergrad -- Finance & Data Science major with a math minor
Full-time experience -- one year at a wealth management firm

What I liked about the program:

1. Location
- I finished my 4-year undergrad program in NYC and figured that NYC was not for me. I wanted a better blend of a big city but also having some nature / peace and quiet. Since I wanted to become a quant trader, Chicago seemed like the ideal choice being the trading / market-making industry hub, but also having the peace and quiet that I wanted. Its proximity to job opportunities also allows easy networking / coffee chatting.
- The city's architecture is also very nice. There are also a lot of museums that are definitely worth going to.
- The city's rent is much lower than other major cities. (Almost half of NYC's.)
2. UChicago's positive academic reputation
- The school overall is known for its academic rigor, reputable professors, and beautiful campus. With the Fin-Math program, you get access to not just the top-tier Fin-Math courses and professors, but also resources from other programs such as the Booth Business school, the stats program, UChicago Law School, etc..
- Some Fin-Math professors (namely Roger Lee, Mark Hendricks, Seb, and Greg Lawler) are amazing lecturers and have classes that have an amazing blend of theory + practicality.
- There are also out-of-Fin-Math professors (namely Mei Wang in the Stats department) who also teach very good classes.
- There are tons of research opportunities
- There are some times free / discounted social activities (show tickets, Michelin restaurant meals, skiing, etc.) that are posted by the school that's kinda neat.
3. The Fin-Math program's resources
I categorize this program's resources by its (1) courses, (2) career development, (3) other general / life resouces.
(1) courses:
- All of the classes taught by the professors listed above are highly recommended, plus the other recommended classes in other reviews.
- You also get access to non-Fin-Math classes like those in Booth, the stats department, and even the law school for Fin-Math credits.
***But since class schedules / professors may change every quarter, it's better to ask Meredith & alumni what classes to take (or avoid..) when the time comes.
(2) career development:
- Emily Backe in Fin-Math's career development office (CDO) is extremely resourceful, kind, and responsible. She can not only give you the perfect interview prep but also lead you to just the right people you need to speak to for your job search, interview prep, etc..
- Other professors (Roger, Mark, and Seb) will also help you with technical interviews. Their interview prep sessions are extremely useful.
- There are also industry professionals (called IPO) helping you with further interview prep.
- The program is designed in a way such that you get to meet students from a class above you during your first quarter at the program. This makes sure you have students to talk to who can tell you about their school + work experiences, and
(3) other general / life resources
- Meredith is the go-to for all your questions. She is fun, resourceful, and knows EVERYTHING about the program and its people. She will give you her most honest opinion (and all the intel she gathered from all the profs & students) on what classes to take or avoid. She will also lead you to any help you may need since she knows everyone... quite literally.
- The class size is fairly large (~100 people per class), which mean there's a larger variety of students from different background, etc. Students are all very nice here -- you can definitly make life-time friends from the program. Also, many students are very knowledgeable and have many years of work experience -- you can always learn a lot from your classmates.

What I didn't like about the program:

1. City's infrastructure & weather
- Many parts of the city, including but not limited to public transportation, road design, how people don't know how to drive, bad DMV systems, etc. are designed poorly and are extremely inefficient (and sometimes have bad service)
- Too cold.. brrr
- High crime rate (esp around school, aka the Hyde Park area)... However, you do have to be careful everywhere (plus most American major cities do have issues with high crime rates, although not necessarily as bad as Chicago's hyde park area..) Just be vigilant and try not to walk around alone in dangerous neighborhoods, especially when it's dark.
2. Career development office's flaw(?)
- For a while during my time in the program, Emily Backe was gone and the program's CDO was near non-existent with very insufficient support. It's awesome that Emily came back but the program's CDO is very Emily-dependent. Hope CDO hires more reliable staff soon so Emily doesn't need to be overworked...
3. Some classes were poorly taught and were a waste of money & time
- These classes are
4. Minor things that don't necessarily concern others
- Fin-Math's graduation for my year was meh ... The merchandise we got included a bag that has very low quality (had 2 holes already after using it once)
- The winter can be depressing with the school almost empty (most students take online classes in the winter). But it get's better in the spring & fall.

Overall:

- I wanted to give 3.5/5 but QuantNet doesn't let me. Since Emily's back, I'll round it up to a 4/5.
- I didn't give it a 5/5 mainly because of (1) the bad courses that the program offers and (2) the inconveniences caused by the city's bad design / insfrastructure. However, I still gave it a score higher than 3/5 because you still can get what you want from the program.
Recommendation
Yes, I would recommend this program to a friend
Students Quality
5.00 star(s)
Courses/Instructors
4.00 star(s)
Career Services
4.00 star(s)
Upvote 2 Downvote
I graduated from UChicago MSFM last December, and I am set to work as a quantitative researcher at a bank in NY. Overall I am extremely satisfied with the program.

Background:
Hard science undergrad. Several years of experience in finance in Asia. Hope my review is particularly helpful for prospective students who are already experienced in some way, as this was my case.

Why I chose this program?
I was admitted to several programs mentioned in quantnet. I reviewed the course lists of each program. UChicago MSFM had a good mix of theory and domain-knowledge courses, and the course choice was flexible. I knew what courses I wanted to take and not, so this was a big plus. If you were in my shoes, you probably would want to take courses that you need instead of a course in which you're going to get an A. So I encourage you to review the course lists. Also, the program allowed students to take courses from other departments, mainly statistics and Booth. I highly benefitted from this flexibility.
Of the programs I was admitted to, MSFM was the only program that offered project lab each quarter. I participated in the project lab in nearly all quarters and was able to gain insight and connection. It was a big differentiator for me because when I graduate, I'd need to work full-time to get a taste of a business I'm interested in (which is a big commitment).

Course reviews:
Roger Lee: taught option theory and pricing methods. Anything Roger teaches, I highly recommend you take because he is amazing. He can explain complicated concepts in a crystal clear way. Initially, I was not enthusiastic about his options class because I thought I was already familiar with the materials. But I did not regret taking his course. He cleared out all of my bogus mathematics and replaced my complicated solutions with simple solutions. I glimpsed at some of his research papers. Even though I cannot produce this quality research, I could still appreciate his amazing ideas (if you are interested in the topic, you don't need to for exams). What some financial mathematics professors prove with long long lines of hard algebra, Roger, with his brilliant ideas, can prove in much fewer lines.

Mark Hendricks: taught portfolio theory and credit. Mark is a very good teacher and a nice pleasant person. He really cares about students and would go out of his way when you have something to discuss. He emphasizes explaining in words our understanding, which is what you need to do in interviews.

Seb Donadio: taught Python and C++. Seb is probably going to be your memorable professor. One of the most intense courses for me. Even though I was familiar with the languages, I spent a lot of time on assignments and projects. Instructions need some work because they can be vague and confusing, but I encourage people to take his courses to get the full experience of MSFM. The strength of his courses is the domain knowledge he shares. He is a highly experienced professional and doesn't mind sharing what he knows. I appreciate that I learned not only more about the languages but also how they are used in the financial industry. I found his courses very helpful in interviews.

Gregory Lawler: taught stochastic calculus. He is a distinguished scholar and a very good teacher - a must-take for quant finance wannabes.

These are the courses nearly everyone takes, and you can choose the rest of the courses from both the Financial Mathematics department and other departments. You don't want to stack up too much in the Fall quarter due to recruiting. Other quarters can be as hard as you want them. Generally, I am happy with nearly all the courses I've taken.

CDO:
One of my favorites in the program. Emily Backe was a world-class career consultant (no longer part of CDO anymore, promoted for the better good of the program - but she is still here). She is extremely caring and knowledgeable. The CDO had ample industry knowledge that helped me navigate my way. They did not provide just generic career advice.

Summary:
I am extremely happy with the knowledge I gained in the program and the career outcome. I'll stay in touch with people I met in the program. Not really understanding why UChicago's ranking is so low on the quantnet ranking table, though I cannot speak of other programs I didn't attend. But in my personal opinion, the ranking is irrelevant to individual success (as a potential quant finance wannabe, you shouldn't take information as is anyway). I hope the prospective students find a program that suits them most. Wish you success.
Upvote 1 Downvote
Graduated in December 2022, working as desk strat at a major bank.

CDO: really on top and provides great connections with employers and alumni.

Curriculum: provides almost all aspect of quant finance knowledge from pricing, computing to economics. Also the teaching staffs are a gold mine. Once you reach out they offer bottomless help.

The program really is a buffet. You can get what you want and all you need to do is to show up and grab a plate.
Upvote 1 Downvote
Headline
One of the best decisions I have ever made in my life.
I recently graduated from The University of Chicago's Financial Mathematics Program in December 2022. I will work as a quantitative analyst of a top custodian bank in US.

My Background
Previously I worked six years as an economist and strategist for a leading financial institution in Asia. My motivation ,target and goal is to learn most top-notch quantitative skills from math to programming to utilize extensive datasets and to provide more convincing investment ideas.

Career Development Office(CDO)
Emily is the most professional, committed, compassionate, enthusiastic, kind, nice, sweetest and the most responsive and the most supportive and the most helpful professional in this program. She CARES student and knows all the answer to the career questions that graduates had. Without her help and support, I would never be able to secure the job offer.

During the interview process, Emily followed up with my job hunting and provided professional and instant response. What Emily offered is the industry standard. Emily provides insightful guidance and customized advice based on different personal background. Regarding to career path choices, there is a lot to consider. Emily will discuss with you all the opportunities and let you know the possible outcome. Emily is there for me when I had to make life-changing decisions.

Career Development Office provides world-class career service and helps with resume writing, LinkedIn updating, Technical Interview Seminar and Mock Behavioral interview Lab.

Student Service
Meredith is always there for students to talk to and share everything from visa consultation, course selection, course registration process, to accommodation for exams. She is extremely helpful with any concern or question that I had.

Meredith organized our events and classes from architectural boat tour to painting class. She is extremely involved with our cohort. The University of Chicago's Financial Mathematics Program seemed more intimate because our cohort felt more like a community.

Course recommendations
There is more to come. You will have the flexibility to choose fixed income and time series courses from the Booth and math & stat courses from both department.

Roger Lee : Mathematical Foundations of Option Pricing/Numerical methods
Professor Roger is not only smart but he also makes sure every student understand the materials. Roger had a magic and a great way of getting everyone understand the hard Math concepts.
What Roger teaches is not only the theory and but also the real world application of it. Roger will go over brain teasers and interview questions that students have seen during interviews at top firms.

Mark Hendricks : Portfolio Theory and Risk Management I
Professor Mark CARES students and is extremely dedicated to his course. Mark designed the homework rigorously and guided students to figure out the thought process. Mark combines python programming applications of portfolio theory using Harvard Business Case study approach in homework and for discussions. That really helps students to understand the real-life applications and essence of quant portfolio theory.

Professor Mark will also prepare statistical interview questions from time series, regression to financial markets analysis like fixed income. Based on my interview experience with banks and funds, most of the questions had been discussed thoroughly in the class and in the seminar/workshop.

Gregory Lawler : Stochastic Calculus
Professor Lawler is the best and the most respected mathematician contemporarily and the pioneer in the stochastic field such as probability and random processes. His lecture is easy to understand and his course is fun and interesting.

Chanaka Liyanaarachchi : High Performance Computing
HPC is the most useful programming course that I took in The University of Chicago's Financial Mathematics Program. Professor Chanaka will dive into various applications from OpenMP to CUDA. We will have the opportunities to have exposure to modern technologies.

Jon Frye : Portfolio Credit Risk: Modeling and Estimation
Professor Jon is the economist and risk specialist from Chicago FED. The lecture that Professor Jon taught in class is industry standard from PD/LGD to vasicek credit risk model. The homework that Professor Jon gave is to ensure students understand the risk management inside and out.

Project Lab
The project lab that I did with my cohort did help me secure the job. We will be able to be in touch with the current developments in finance through their relationships with practitioners.

Cohort
I had true friendship for life when I was in the University of Chicago. I would say that they were my family. Most students are very friendly and willing to help.

The University of Chicago's Financial Mathematics Program
The program has a great team of dedicated professors, career and academic counselors, classmates and students. Its reputation in the quantitative finance industry will open doors for you and you will realize how much you have learned and grown during the 16 months. I would describe this program as the most challenging and most rewarding academic endeavor of my life, and would recommend it to anyone with a passion for learning more about the quant side of finance.

Summary
Two roads diverged in a wood, and I took the one less traveled by, and that has made all the difference.

The University of Chicago's Financial Mathematics Program changed my life. This is one of the best decisions I have ever made in my life.
Recommendation
Yes, I would recommend this program to a friend
Students Quality
5.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
5.00 star(s)
Upvote 2 Downvote
I graduated from the program in December 2022 and will be joining a mid/large size prop trading shop in Chicago as a quant trader. Looking back to the 15-month journey in Chicago, I found UChicago did a tremendous job in helping me build my career path and explore job opportunities in quant finance industry. Here are some highlights:

Onboarding
Students in the program come from various background. The onboarding process and started 2 months prior to the official start date in order to get everyone to the same page.
This experience helps the most for those who have less experience or knowledge about the industry to get ready early for the short and competitive recruiting season.

Career Office
The career office is the strongest support for students’ recruiting. It’s very impressive when you realize there are only 3-5 people supporting over 100 students with their job search, organizing various career events, always replying to everyone’s email promptly while thoroughly, providing personal counseling any time one needs and continuously updating individualized recruiting strategy.
The support and resources I received from this group of people is invaluable.

Project lab
For those who had limited work experience, this is your best chance to get industry experience on your resume. For those who have had experience, this is a good chance for you to work on some solid projects that industry values or even an official offer.
Like everyone else on this review section, project lab added a lot to my experience. To make it simple, comparing the numbers of interview I received before and after I have a project lab experience, it is obvious to see its value.

LOCATION
In addition to the program itself, location is what I considered the best factor for choosing your school, but the decision criterion might differ for everyone.
Chicago being the biggest hub for prop trading firms in the world has the natural competitive advantage for you to break into the industry. As someone who aimed to get into prop at the beginning of the program, this is absolutely helpful. Not only for job search, but also after you join the industry, you’ll be surprised about how many UChicago alumni you will meet during work from your company, your counter parties, and your brokers.
Crime rate, weather etc. being the negative factors for the location do not bother me the most. I do envy the nice sunshine on a winter day on the west coast, but I guess that’s why have breaks and vacations.

Hope this can help you make the right choice.
Upvote 1 Downvote
I graduated from UChicago's MSFM program in December 2022 and will work as a Quantitative Equity Trader in the emerging markets pod at a leading mutual fund.

My background was in Economics and Finance, and I had some experience in Quantitative Research. My goal from this master's program was to learn everything I could to become a better quant and discover the things I didn't know or was ignorant about in quantitative finance.

The quant net ranking has s strong bias towards programs in New York and the primary east coast cities. The ranking system unfairly makes UChicago seem like a weak choice when looking at schools. Take the rankings with a grain of salt. Judge each program based on the coursework they offer and the quality of the research the school and program do. By its very nature, the school and the MSFM program require you to be able to do the work and also to research why you want to do it. When I speak to many people in the industry, the program garners commanding respect from everyone because those who know, know. The expectations employers have from graduates of this program are sometimes overwhelming, due to the ecosystem the program has built, from the faculty, staff, and support staff whose goal is to see every one of their students succeed.

If you are looking for a program that spoon-feeds you or a quid pro quo relationship, my advice doesn't apply. This program is for people who are committed to working hard, questioning everything, and working with their cohort to solve problems.

As a quant, I need to back these statements up and show that this process is repeatable and does achieve the desired results. This result is entirely up to you and depends on how hard you work.

The three pillars of this program are its faculty, staff, and support staff.

Professor Roger Lee is one of the most sought-after people in understanding and building options and strategies for both exchanges and funds. His classes, which you will take in the Autumn and Winter Quarter (Options pricing and numerical methods), are enlightening. He has a way of conducting the classes that make you think and understand everything he teaches you. It is measured, every word is relevant, and if you listen to the zoom recording or read the transcript, it is uncanny how precise each word is and how it makes you understand the most complicated concepts in simple terms. When doing your interviews, the interviewers ask many questions related to options. If you understand both of Professor Lee's classes, you will make it to the final round.

Professor Mark Hendricks is another one of those professors who have this knack for distilling knowledge very eloquently. He teaches the Portfolio Theory class and the Corporate Credit and securities class. Even if you don't come from a finance background, you will get up to speed within the first few weeks. His course teaches the basics you need and then gets you to apply those basics to solving and figuring out real-world problems using case studies. He guides you through the thought process and embodies the philosophy of teaching "how to think," not "what to think." He is also one of the best resources in the program to ask for some guidance on interviews or a general chat. No matter how busy he is, he makes the time, which is the dedication you get from this program.

Finally, Python by Seb. You will know where the term "where fun goes to die" originates. These courses are intense but essential if you want to do technical roles in the industry.

The other courses I recommend are from the Math or Stat department. Take advantage of the fact that it is one of the world's best math and stat departments. The professors are simply exceptional. I was fortunate enough to take a Multivariate Statistical Analysis class taught by Professor Mei Wang. This class was one of the best classes I took at UChicago; she taught me all the necessary statistical methods and tools.

The program, from the get-go, starts helping you with your search for an internship. Emily Backe, the program's chief of staff and previously the director of the career development office (CDO), was instrumental in helping me get my internship and a full-time job offer. The CDO provides resume reviews and technical and behavioral workshops, and they act like a sounding board for all the frustration one goes through during the recruiting process.

The special glue or "X-factor" that makes this one of the best programs in the world is the support system we have which is taken care of by Meredith. She is the one who knows everything or will guide you to the right person who can help you. She helps navigate all the logistics of getting your visa, guides you through the program, and advises on what courses to take. She helps organize our classes and events and is an excellent sounding board for all related and not related to the program.

The program was one of the best decisions I have ever made. It was tough and not to mention frustrating at times. The friends you make here will last a lifetime and help you in almost anything; in essence, you gain a family. The city of Chicago is very vibrant and also helps in being very accommodating to students. If you love to learn and put in the effort and hard work, this program is for you. Coming out of the program and looking back, you will see how far you have come and how well this program prepared you to tackle all the challenges you will face, personal or professional.
Upvote 2 Downvote
Background:
- Computer Science undergrad with a few years of work experience as a software engineer.
- Started working as a Trader after graduation in December 2022

Other Admits:
- UCLA and UC Berkley MFE
- Chose UChicago MSFM due to close proximity to many trading firms as well as lower overall cost.

Overall I believe the program has a mixed bag of experiences that bring my rating of the program to a 3.5/5. There are some truly exceptional portions to the program as well as a few downright terrible classes/professors that make you question if you're wasting your time and money.

Pros:
- The program begins 2 months before the official start date. It begins with an August review that brings students to a base level of understanding required in the program. The program attracts students from a wide range of backgrounds and not everyone is fully equipped with the resources to delve into the material. The topics cover a wide range such as regression analysis, probability, programming etc. This time is both useful to brush up on material you may not have experience in as well as prepare you for the level of coursework once classes start.

September launch provides more classes as well as opportunities to meet other students and alumni. There are social gatherings to acquaint incoming students and also workshops and seminars to help you in your job search.

- The first quarter the probably the best part of the program. Roger Lee and Mark Hendricks are both phenomenal professors/lecturers and all three suggested classes (Portfolio Management, Options Pricing and Python) had a lot to teach. This three classes combined with the job search provided a very rewarding first quarter which left me with very high expectations with the rest of the program.

- The support staff are also extraordinary. Meredith and Emily are the two main callouts that come to mind. Meredith is always available for you to talk to, whether it is personal or professional. If there is anything that you need to have done, she is the go to person. Emily is likely the best career advisor I ever worked with/will work with. Saying that she goes above and beyond is honestly an understatement. I genuinely don't know how she was able to make the time to answer everyones questions. She makes sure to understand each student's unique situation and provides insightful guidance even when you yourself may be unsure on what you want/need.

- The program provides flexibility in what electives you want to take. You have the option to take classes from Booth and Stats departments within UChicago.

- All the classes (bar a few where professors forget) are recorded start to finish and uploaded online. This allows you to rewatch to see portions that you may have missed as well as play the video back at 2x speed to review.

- Being located in Chicago it's easier to meet/see many of the trading firms that are located there.

Cons:
- There were a few months where Emily temporarily left the program. This along with a few other changes in the Career Development Office (CDO) were very noticeable. However, now that she's back, maybe things will be back to normal (though she's not in the same role).

- Too many classes that are not worth taking. Further details below.

- Chicago winters and crime

Courses to take: Modern Applied Optimization, Bayesian Stats I and II, Microstructure, Stocalc, Numerical Methods, Portfolio Theory, Option Pricing, Python

Classes to avoid:
- Regression Analysis and Quantitative Trading Strategies with Brian Boonstra: Overall this class taught me very little. It was largely a project class that are focussed on teaching you how to manipulate and display data. The "trading strategies" are incredibly basic and something that you could teach yourself by looking at wikipedia. Grading made no sense as they would often times give you an 80 with the only comment being "Great work". The lack of feedback gives you no opportunity to learn nor the willingness to try on future assignments. This class was likely the biggest disappointment I had in the program as the reviews made it seem like it would be a great class.

- Probability and Stochastic Processes with Jostein Paulsen: The material in this class was actually great, it was just taught very poorly. Partly due to the fact that there was too much material for a 50 credit course, partly due to bad a bad professor. This class could be very valuable if they rework it to be a 100 credit course with more depth.

- Applied Algorithmic Trading with Christopher Gersch: The homeworks were again graded completely arbitrarily with no feedback. The final project also had no feedback and seems to be graded based on entertainment value. It's not a difficult class, but just doesn't provide much educational value.

- Blockchains and Cryptoassets for Finance with Brian Boonstra and Co.: Material was not very informative and some of the homeworks seemed like they were designed for a middle school class.

- There are other classes that I heard bad things about through word of mouth, however since I didn't experience them personally, I won't comment on them.

Tips going in:

- Study the Green Book ("A Practical Guide To Quantitative Finance Interviews”), prior to the program if possible. As Emily and others will tell you, it is never too early to start interviewing.

- Keep track of places you're applying and apply far and wide. Keeping track of your applications during the internship process if very helpful when deciding where to apply come full time.
Upvote 2 Downvote
Read more…
Back
Top