The instructors in math and stats departments of U of M are generally bad. Program does not teach students at all and just want to grab money. Tuition is ridiculous compared to value offered by other programs. Also campus is in the middle of nowhere and very difficult for students to network. You'll also have to deal with a lot of ignorant in-state people who have not been to other places in their whole life. Save your money to a private university.
I got enrolled in the program in 2017 and graduated in December 2018 (one can choose to graduate in 1 year and a half or in 2 years). I highly and sincerely recommend this program and in my opinion, the pros and cons for this program are as follows.
Several reasons for recommending this program:
1. Great mandatory curriculum, staff and professors. The professors are all really nice, professional and funny, and the staff members are all helpful and care about students. Our program coordinator is an excellent lady who always helps us with resume and cover letter writing, interview preparation and alumni networking by coordinating quant seminars with Michigan alumni and forwarding possible working opportunities from alumni's companies. To be honest, the curriculum is challenging since some of them are PhD classes, but this is exactly why we all have a solid theoretical understanding of financial mathematics, and exactly how the program is designed -- our director for the program believes that sold math knowledge is the reason that lots of Math PhDs could end up having a quantitative job. So here we go.
2. Flexible elective curriculum and tons of studying opportunities with Department of Mathematics and with other departments. You can almost always choose whatever interests you as an elective course, such as a course in Ross School of Business, or in College of Engineering, or in School of Information, and even get enrolled in another master's program. I know some friends in this program choose to pursue a Master's in Statistics at the same time, or a Master's in Engineering to learning more about programming. I myself got enrolled in Multidisciplinary Development Program (MDP) to have more practical experience. In a summary, as long as you want to learn something, getting enrolled in this program can and always will serve you as a first step.
3. Wonderful campus culture and lots of chances to get involved and make a contribution to the community. This program is with University of Michigan, and U-Michigan always goes with great alumni network, academic excellence, and especially rich tradition in football! When you walk on campus, you will always feel as if you were part of something bigger than yourself and had the ability to make a difference. With International Student Lunch Conversation, Women In Mathematics, Women's Ultimate Frisbee etc. (just a few examples; these are the ones I was quite often enrolled in), you'll feel welcomed and you'll always have the chance to learn more and contribute more.
4. Job hunting assistance. I suppose most students who want to get enrolled in these Financial Engineering programs are looking for an excellent job afterwards, and definitely you're in for a treat! Not only does this program have an experienced program coordinator for resume and cover letter revision, but we as U-M students also have U-Michigan Career Center for FREE mock interview, FREE professional clothes closet, and everything you can think of related to internship or job hunting for FREE! Just remember to ask for help, and you'll get it for sure.
The biggest con for this program, which I must admit, is that it doesn't have the geographical advantage, as it's not in New York or Boston or any other big city. Ann Arbor is quite possibly the quaintest, funkiest, most cosmopolitan college town in the US, but it doesn't have that many employers. However, we have Career Fairs where tons of employers all over the country will show up and want us -- because we are in University of Michigan and we are in Quantitative Finance!
This is a really young program, and it needs each one of us to take care of and make it become better. Hope you can be one of the Wolverines!!
Whoever is reading this, thanks for your time and patience! Wish you the best luck in the future, and forever Go Blue!!!
Worst program ever existed. Program's director is a super tough guy, caring about nothing regarding students' placement. He does not even respect students. Courses are badly designed. They simply used previous PhD courses to open this master program.Core courses are not practical at all.
We're from 2017 class, which is the best group of people they ever admitted. However, our placement record is worse than some programs that we reject offers from back in 2017.
Plus, tuition is ridiculously high, they just use students as cash cows. Don't donate your money to them!