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Am I on the right track? Please help

I'm new to the forum and I hope i'm posting this in the right section.

I am 33 years old and have been working in the wealth management side of financial services for over 6 years, which included advising on equities and derivatives. My interest in the quant side has led me look at various options within the industry and every role required a strong foundation in math.

Since, I did not have a mathematical background I decided to enrol myself in university to complete a post graduate diploma that covers all the necessary prerequisites for the MFE. I am close to completing this now. In addition, I have also taken a couple of computing courses, mainly C++ and VBA. I took my GRE and scored Q 760 V 570 A 4.5.

Making good progress in my current math program I thought it would be a good idea to apply to a handful of MFE programs to see where I stand. I applied to 6 in all and got rejects from 4 and admits from Claremont and BU. The rejects came from the more reputed New York and chicago programs, which wasn't a big surprise as I was competing against better pedigree.

I will appreciate if the more experienced can help me with the following questions.

1) Would it be wise for me to not accept any of the 2 offers and apply in Fall 2012, given I'm already 33?
2) If I do that, what could i do in the interim to make my application stand out?
2) I'm keen on getting my foot in the door in derivatives trading and was wondering if a MFE would be sufficient as i'm not inclined to go down the path of getting a Ph.d after my MFE.

I'll appreciate anyone taking the time to help me with these questions. Thanks!
 
Thanks @Andy Nguyen. I'm probably going to take that advice and spend the next few months getting the GRE sorted. Who knows mayde UCB might be a go next time.I'll take the next day or so to convince myself that it's the way to go :)

Going back to your advice, can I just ask you your personal opinion on BU as I would have picked BU had I considered doing the MFE this fall. Knowing my only options were BU and CGU.
 
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