- Headline
- Exceptional Program, Lots of Opportunities
- Class of
- 2024
The University of Chicago’s Financial Mathematics (FinMath) program has been an exceptional experience. When I was applying to graduate programs two years ago, I had a clear idea of what I wanted, and UChicago FinMath delivered beyond my expectations. I apologize for the lengthy review– there is plenty to share!
Admissions:
The admissions process was refreshing and student-focused. Upon admission, program staff promptly engaged with us, addressing questions and providing guidance. The “Ask Me Anything” sessions for admitted students were particularly insightful, with both staff and current students offering valuable advice. Post-enrollment, we participated in interactive coursework on internship preparation and resume refinement, setting the tone for a professionally enriching experience.
Instruction Quality:
The quality of instruction is one of the program’s standout features. Faculty members, drawn from both academia and industry, share their unique expertise and insights. Each instructor excels at communicating complex topics in a way that is both engaging and accessible. This ensures a high-quality learning experience across the board. Utilize their expansive knowledge!
Courses:
I can say with certainty that I drew important skills and knowledge from each course I took. I will detail a few of my highlights below.
Computing for Finance in Python:
This course is taught by Sebastian Donadio was a great way to begin the program. Seb’s instruction is easy to digest and always opens the door to what comes next. Despite my limited coding experience, I found the course approachable and engaging. Even peers with advanced coding skills found valuable insights in the course. Seb is always willing to push you further! One unique challenge that came about with our cohort was ChatGPT. During exams, the emergence of paid ChatGPT subscriptions highlighted challenges in balancing AI usage with demonstrating personal mastery. Unfortunately, having access to the newest GPT model for either exam made a significant difference in performance. Even without them, I was still thrilled to have taken the course. I was able to transform my coding abilities over the course of a few months. I went from not writing functional code during online assessments to passing them with time to spare. I attribute this growth primarily to this course.
I would reassure students concerned by the prevalence of ChatGPT in academia that instructors are addressing the issue and are rapidly evolving coursework to reward students who can demonstrate knowledge without using ChatGPT as a crutch. Proper usage of AI is crucial in this day and age, but blind and heavy reliance on LLMs is only setting people up for failure. Instructors in this program and beyond are quickly finding ways to ensure students are best prepared for industry.
Option Pricing / Numerical Methods:
These two courses, taught by Roger Lee, are undoubtedly highlights of the program. Even with a background in financial mathematics from undergrad, I gained significant insights from these classes. Roger skillfully combines a rigorous, mathematics-based approach to options and derivatives with the practical intuition that industry practitioners rely on for efficiency. The homework and exams often feature problems that can be tackled using advanced, formal mathematics. However, Roger’s solution guides stand out for their elegant and concise methods, offering invaluable learning opportunities. I strongly recommend that students invest time in studying his solutions, as they reveal powerful techniques that streamline complex problems.
Any of Mark Hendricks’ Courses:
Mark Hendricks offers a number of courses including an introductory “Markets” section for incoming students, Portfolio and Risk Management, Fixed Income, and Fixed Income Derivatives. I took the three offered courses and made an effort to sit in on as many Markets lectures as possible. Another highlight of the program is the common 3-hour lecture style. For better or worse, it is the layout chosen to accommodate most schedules and allow for flexibility during the day. Mark’s lectures were all three hours, but felt as though I had sat down to watch a well-designed YouTube documentary. It is one of those presentation styles that is extremely engaging and enjoyable to sit through. We cover a number of topics that are highly technical requiring high level mathematics and coding, but he is able to synthesize it so that people of different academic backgrounds can understand it better.
Career Development Office:
The Career Development Office (CDO) is our office dedicated to helping connect students to the next phase of their career regardless of where you are coming from. They devise endless opportunities to sharpen your skills, meet new people, and interact with firms in the industry. Early in the program, the CDO provides workshops covering essential behavioral and technical interviewing skills in time for the internship search ramping up. These sessions continue to be available throughout the program. Simultaneously, they arrange for many employer events where students are able to hear from and interact with various companies and alumni. These sessions helped me discern the various career paths available to students upon graduation. Outside of these group events, CDO also works 1-on-1 to help each student navigate the career search. They are able to connect you with alumni at companies you are interested in working at, help you draft communications, and everything in between. Personally, CDO helped me navigate the negotiation process as well as helped me formulate requests for my full-time contract.
Academic Services and Administration:
The Academic Services and Administration (ASA) team is essential to the smooth operation of the FinMath program. Their work can be categorized as both program-facing and student-facing. Behind the scenes, they coordinate employer events, office visits, interview labs, admissions, alumni engagement, and more. For students, ASA provides invaluable support, including course advice, visa assistance, and general guidance on any topic. I would argue that the “home base” of the FinMath program is in Meredith’s office. Before and after any lecture, event, exam, and sometimes just out of the blue, myself and many other students head to her office to hang out and talk with her. I sometimes feel bad talking with her while she works, but she has ELITE multitasking skills and is somehow able to do it all! Special shoutout to Meredith! She is so crucial to the program’s success. Overall, ASA is very necessary to the success of the program.
Unique Characteristics:
What truly sets FinMath apart, beyond its robust academics, is its unique culture. The program brings together students from diverse academic and professional backgrounds, fostering an environment of collaboration and mutual growth. This diversity creates opportunities for students to leverage their strengths while learning from one another. For example, I was able to share my insights in our math-intensive courses, while benefiting from peers with extensive coding expertise. When I was evaluating programs, I didn’t fully appreciate the importance of this collaborative culture. Reflecting now, I’m not sure such a dynamic environment could exist elsewhere to the same degree as it does at FinMath.
Outcomes:
Overall, I couldn’t be more satisfied with my decision to attend the University of Chicago’s Master’s in Financial Mathematics program. To provide some context, I studied mathematics as an undergraduate with a concentration in financial mathematics. While this gave me a solid mathematical foundation, I recognized the need to deepen my expertise in finance, programming, and machine learning to pursue a career as an industry quant. After researching several programs, I chose FinMath based on the strong endorsements from alumni and the comprehensive curriculum. Many of the positive experiences I had read about aligned closely with my own goals, making the decision an easy one.
Coming straight from undergrad with no industry experience, I initially worried about how I would bridge that gap. However, FinMath quickly put those concerns to rest. I enrolled in the Project Lab course, which allowed me to gain hands-on experience and bolster my resume with meaningful projects. Through the FinMath career fair, I connected with a company where I secured an internship, which later converted into a full-time role after graduation.
My last reflection on the program is that it has a component of self-direction where you may make of it what you wish. There are plenty of opportunities presented to you, and as a grad student, you have the OPTION to take advantage of them. Due to the flexibility the curriculum, students can challenge themselves (or not) as they see fit. I encourage future students to challenge themselves and make the most of the program’s valuable opportunities. Taking the challenging courses is how you grow and make the most of your time and money.
Feel free to message me on LinkedIn at William Bellinger if you have any questions about the program!
- Recommend
- Yes, I would recommend this program
- Students Quality
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5.00 star(s)
- Courses/Instructors
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5.00 star(s)
- Career Services
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5.00 star(s)