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Advise the correct path, please!

bilim

bilim

Joined
5/20/11
Messages
26
Points
11
Hello everybody,
I am new here and it is my first posting. It is much possible that many people asked the same question what I am going to ask now. But everybody's situation is unique and needs to be separately considered . So here is my story. My son is 18 years old and he is finishing high school next year. He is good on math and programing is his favorite subject. He is the winner of math and informatics competitions, well not international ones yet. Next year he is planning to enter to the university. Luckily we have a branch of Moscow State University here in our city. This branch has Computer Science Department. Actually it is called "Applied Math and Informatics". So we are going to try that.
They offer 4 years Bachelor of Science Degree program and Masters Degree program is opening this year. Diploma would be issued the same as what it is given to students graduated in Moscow. I think former soviet mathematical education is one of the toughest in the world and it is not easy to study math in such institution. After completing bachelors degree I want to give my son another challenging background on Finance. I would like to send him to Germany to study Finance. Education in Germany is almost free and worldwide recognized. But some people say that German universities are not very well recognized by American and British employers.
Is it true?


Another alternative, but expensive one, to send him to Britain to get his masters degree in one of the reputable universities. Almost for the same cost he can get MS in America too.
What do you think about reputation of British universities?

Also It is not clear for me what specialization to choose: Pure Finance, Financial Engineering, Financial Mathematics or something else?

I consider my son to become as a specialist working in financial industry with the solid knowledge of math, programming and finance. It is a good challenge and I believe he will achieve this goal.
I have spoken to him about it and he is ready for the challenge.
Please give me some guidance, answer my questions and any advice would be much appriciated.
Thank you!
 
If you are considering sending your son to a german speaking country and want him to work with finance, then why not switzerland? We have one of the worlds best technical universities (ETHZ) and they have a very competitive joint program with the University of Zurich in Quantitative Finance. Fees are 500€ per semester, so that will be the least of your worries (financially). Additionally Zürich and Geneva are two of the worlds bigger financial centres..
 
The approach most people have chosen is to study where they want to work for many reasons (greater access to job opportunities, location, etc). If the goal is to work on Wall Street, then study in one of the programs in NYC. Same for London. There is no reason a bank in NYC will spend money to hire some undergraduate student from Germany when they have thousands of candidates in the US alone.

Financial Engineering is the main name for this degree in this field. The IAFE (iafe.org) is the non-profit organization promoting this field. Alternative names for the same degree are quantitative finance, mathematical finance, financial mathematics, computational finance. Sometimes, we just call them MFE degree for simplicity.

Master in Finance is a more general degree in finance which does not require much math, programming as MFE. Anthony runs a website called msfhq.com which he collects info on various MS Finance programs.
 
Thank you for your reply,
My son prefer to live in the USA. And I think US financial market bits European market and British market by it volume, opportunities it gives to people. So after learning from different postings here I come to conclusion that it is better to get masters degree in America.
 
I have just checked Baruch MFE program from their web site and requirements for applicants. Well my son after 4 years study would have all subjects learn and get good practice except one subject, it is Finance. They ask to have one course Finance or work experience.
I think they are looking for work experience from American company. I don't know would they accept work experience from local company where we live now? Or is it possible to learn finance online during his study at university, because this university has no Finance Department here.
 
We will try to be strong on math and programming. I know some good mathematicians and programmers here, former Olympic champs. But I cannot find anything regarding finance here. Do you know any online education program which would suit Baruch requirements?
 
Thanks for the links, I found detailed program for FE. So we will follow that program.
 
Hi Andy.
it is me again,
I have just ordered books
http://www.amazon.com/gp/product/0470192739
http://www.amazon.com/gp/product/0470748753
http://www.amazon.com/gp/product/0123735742
1. Principles of Financial Engineering, Second Edition (Academic Press Advanced Finance)
Neftci
2. Frequently Asked Questions in Quantitative Finance by Paul Wilmott
3. My Life as a Quant: Reflections on Physics and Finance by Emanuel Derman

What book would you recommend on C++ and other computer related things?
Thanks!


 
It's really feels good to see a father working so hard for his son....but that brings the question...is your son into this as much as you?
Or are you pushing him for a career with big bucks so it will pay off for you in the end?

Sorry if I sound rude but you only speak of him in third person and it seems that he is a passive part of the selection process.
 
You are right Ohad,
But he is reading this thread and also visited other sites too! He is not passive, believe me. Right now he is writing some code next room for informatics faculty for tomorrow and have to prepare presentation about the light, very busy. I am just helping him. Hope to be a helpful father for a long time.
Andy, thank you for the link, but there are 10 books about C++. We have plenty of other C++ related books at home. Which books in the list are more related to finance? I guess last 2 books are related to that, but others should be just about C++.
Am I right?
 
Andy Nguyen said:
Mark Joshi book and Daniel Duffy books are often used in MFE courses.
Get John Hull book to learn about finance and start coding the simple models in the book.

Quantnet will introduce an online C++ for Financial Engineering course which is useful for people applying to MFE course.
Click to expand...
I have just placed them to the cart!
It is very good idea to learn everything before you take your courses! Amazon suggesting me to buy The Concepts and Practice of Mathematical Finance (Mathematics, Finance and Risk) by Mark S. Joshi.
But I have already ordered Neftci's book if you remember. Do you think it is enough for now?
 
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