Baruch MFE Baruch MFE Employment Statistics for December 2012 graduates

[dstefan]

All of the December 2012 Baruch MFE graduates seeking employment in the financial industry accepted offers from financial companies primarily from the New York area. This is the best recruiting season in ten years for the Baruch MFE Program, achieved in a very challenging job market.
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First Year Guaranteed Compensation

Graduation Placement Rate High/Low/Median/Average
Dec 2012 16 of 16 165K/70K/105K/113K
Dec11-May12 21 of 22 150K/70K/95K/101K
Dec10-May11 19 of 19 130K/75K/95K/96K

First Year Starting Salary

Graduation Placement Rate High/Low/Median/Average
Dec 2012 16 of 16 160K/70K/100K/104K
Dec11-May12 21 of 22 135K/70K/90K/95K
Dec10-May11 19 of 19 130K/75K/90K/93K

First Year Starting Salary for graduates with no relevant work experience

Graduation Placement Rate High/Low/Median/Average
Dec 2012 10 of 10 125K/70K/95K/95K
Dec11-May12 13 of 14 100K/70K/85K/86K
Dec10-May11 14 of 14 105K/75K/90K/87K
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Employers (by type)
Investment banks 38%
Hedge funds 25%
Financial services 25%
Financial software 6%
Consulting 6%

Location
New York 75%
Boston 19%
Asia 6%
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Employers (some with multiple hires; selected)
Autonomy Capital
Barclays Capital
JPMorgan
Goldman Sachs
ITG
Morgan Stanley
Numerix
SQT Capital
State Street

Positions
Associate, Financial Engineering
Associate, Quantitative Research
Associate, Strats & Modeling
AVP, Quantitative Modeling
Analyst, Investment Banking
Analyst, Risk Management
Financial Engineer
Financial Software Developer
Junior Trader
Quantitative Analyst
VP, Securitized Products
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Note: The first year compensation reported here is the compensation guaranteed at the time of employment. It consists of the starting salary plus the signing bonus plus any first year bonus guaranteed in the offer letter, if any. The annual performance-based bonus is not included here. In other words, the first year total compensation of our graduates is higher than the guaranteed compensation reported.


The 2009-2011 Baruch MFE Employment Report is available at http://mfe.baruch.cuny.edu/wp-content/uploads/2011/05/2009-2011_Baruch_MFE_Employment_Report.pdf

More detailed stats are posted at http://mfe.baruch.cuny.edu/employment-stats

 

[Lyn Huang]

Why are there only 16 students seeking jobs when the class size is 30?

 

[Tianyu Li]

Why are there only 16 students seeking jobs when the class size is 30?

22 full time and 8 part time.

But I don't know what happened to the other 6 either.

 

[dstefan]

Of the 22 full-time students started the program in Fall 2011, there was a certain attrition rate, several already work full-time and will graduate in May 2013. Part-time students graduate after more than three semesters; several part time students will also graduate in May 2013.

When adding the May 2013 graduates and taking into account a 15% drop out rate, the numbers will be in line with our numbers in the previous years.

This is shaping to be the best recruiting season for our program in its ten years of existence. Based on employer feedback, the ability of our students to contribute right away once employed is what they appreciate the most when making the hiring decisions.

 

[Tianyu Li]

Thank you for your explanation professor. Happy holidays!

Of the 22 full-time students started the program in Fall 2011, there was a certain attrition rate, several already work full-time and will graduate in May 2013. Part-time students graduate after more than three semesters; several part time students will also graduate in May 2013.

When adding the May 2013 graduates and taking into account a 15% drop out rate, the numbers will be in line with our numbers in the previous years.

This is shaping to be the best recruiting season for our program in its ten years of existence. Based on employer feedback, the ability of our students to contribute right away once employed is what they appreciate the most when making the hiring decisions.

 

[dstefan]

Numbers updated above to reflect 100% employment of our December 2012 graduates.

 

[unhappy_mscf]

Nice. Much better than CMU's!

 

[dstefan]

Nice. Much better than CMU's!

To make such an assessment, one would need to have a lot more information about the placements than numbers.

Employment stats represent only the beginning of one's career. As we are following and helping with the careers our alumni, we are pleased to see their progress.

 

[LupDorm]

dstefan Seeing you work in Baruch during my pre-MFE, I have no doubt about the level of support Baruch provides through out the career. Now the pre-MFE is getting over, I will like to thank you personally for all the effort you put in towards all your students.

It makes sense Baruch is better than even CMU in placement.

 

[neoz]

I think Baruch is a good deal, no doubt about that. But to put it in the same league as CMU, I think that's a stretch there. In addition to the actual placements, you have to keep in mind that Baruch's class size is much smaller than CMU's, so it's not a fair comparison. You're looking at 18 students at Baruch vs. 60+ at CMU so the numbers are not comparable.

 

[dstefan]

dstefan Seeing you work in Baruch during my pre-MFE, I have no doubt about the level of support Baruch provides through out the career. Now the pre-MFE is getting over, I will like to thank you personally for all the effort you put in towards all your students.

It makes sense Baruch is better than even CMU in placement.

Thank you, and good luck on the admission interview!

 

[Ken Abbott]

I think Baruch is a good deal, no doubt about that. But to put it in the same league as CMU, I think that's a stretch there. In addition to the actual placements, you have to keep in mind that Baruch's class size is much smaller than CMU's, so it's not a fair comparison. You're looking at 18 students at Baruch vs. 60+ at CMU so the numbers are not comparable.

I disagree. You either place all of your students or you don't. I'm not saying that CMU's program isn't excellent, but it's a real sign of the times if they can't boast 100% placement.

 

[neoz]

I disagree. You either place all of your students or you don't. I'm not saying that CMU's program isn't excellent, but it's a real sign of the times if they can't boast 100% placement.

I agree that the lack of 100% placement is a sign of the times, but that wasn't the issue here. My point is that if CMU only took 18 of the best applicants into the program, they'd have no problem placing 100% every year, even in today's environment.

Can you honestly say that if Baruch tripled its class size to 60+ students, they'd have 100% placement right now? It's misleading to claim that a program's placement is superior to another program's when the numbers don't align. This is like awarding the batting title to the hitter with the 1.00 average when he only has 5 at-bats, it's just not correct.

Again, this is strictly from a numbers point of view. A much deeper analysis would look at the actual roles, salaries, and candidate backgrounds but that's another conversation.

 

[postelrich]

I agree that the lack of 100% placement is a sign of the times, but that wasn't the issue here. My point is that if CMU only took 18 of the best applicants into the program, they'd have no problem placing 100% every year, even in today's environment.

Can you honestly say that if Baruch tripled its class size to 60+ students, they'd have 100% placement right now? It's misleading to claim that a program's placement is superior to another program's when the numbers don't align. This is like awarding the batting title to the hitter with the 1.00 average when he only has 5 at-bats, it's just not correct.

Again, this is strictly from a numbers point of view. A much deeper analysis would look at the actual roles, salaries, and candidate backgrounds but that's another conversation.

I agree it may be a little tough to make a direct comparison based on one statistic but isn't a little of a stretch to say Baruch isn't in the same league without even giving a reason why?

 

[dstefan]

I agree that the lack of 100% placement is a sign of the times, but that wasn't the issue here. My point is that if CMU only took 18 of the best applicants into the program, they'd have no problem placing 100% every year, even in today's environment.

Can you honestly say that if Baruch tripled its class size to 60+ students, they'd have 100% placement right now? It's misleading to claim that a program's placement is superior to another program's when the numbers don't align. This is like awarding the batting title to the hitter with the 1.00 average when he only has 5 at-bats, it's just not correct.

Again, this is strictly from a numbers point of view. A much deeper analysis would look at the actual roles, salaries, and candidate backgrounds but that's another conversation.

Different programs have different admission policies. The Baruch MFE Program does not have a set number of seats to fill. Everyone deemed qualified is admitted to the program, and it takes two rounds of technical interviews to properly determine that. Any change in the number of our students will be a result of the strength of the applicants pool.

At least for several programs (Baruch MFE, CMU MSCF, Berkeley MFE, Princeton MSF, MIT MSF) it is possible to compare the overall success of the cohort being graduated to a certain degree, since the programs provide reasonably detailed placement information.

 

[neoz]

I agree it may be a little tough to make a direct comparison based on one statistic but isn't a little of a stretch to say Baruch isn't in the same league without even giving a reason why?

I meant league from a brand-name point of view. There are employers out there that aren't quite as familiar with the MFE space and in these occasions, it will help if you can rely on the national recognition of your school name to get in the door. This is more valuable to students with no work experience and especially important to students looking to work in Europe or Asia.

I'm not saying the program isn't good, I particularly like the fact that several practitioners are teaching courses, something I think other programs such as CMU should adopt as well!

 

[postelrich]

I meant league from a brand-name point of view. There are employers out there that aren't quite as familiar with the MFE space and in these occasions, it will help if you can rely on the national recognition of your school name to get in the door. This is more valuable to students with no work experience and especially important to students looking to work in Europe or Asia.

I'm not saying the program isn't good, I particularly like the fact that several practitioners are teaching courses, something I think other programs such as CMU should adopt as well!

I agree Baruch isn't a well known name outside NYC but the MFE is making a name for itself globally as more students work outside NY. Also placing top 3 at RITC three years in a row and 2nd place in the 2013 IAFE competition helps make a name for yourself.

 

[dstefan]

Updated numbers for December 2012-May 2013 Baruch MFE graduates:

First Year Guaranteed Compensation

Graduation Placement Rate High/Low/Median/Average
Dec 2012-May 2013 20 of 21 165K/70K/105K/113K
Dec11-May12 21 of 22 150K/70K/95K/101K
Dec10-May11 19 of 19 130K/75K/95K/96K

First Year Starting Salary

Graduation Placement Rate High/Low/Median/Average
Dec 2012-May 2013 20 of 21 160K/70K/100K/103K
Dec11-May12 21 of 22 135K/70K/90K/95K
Dec10-May11 19 of 19 130K/75K/90K/93K

First Year Starting Salary for graduates with no relevant work experience

Graduation Placement Rate High/Low/Median/Average
Dec 2012-May 2013 12 of 12 125K/70K/95K/94K
Dec11-May12 13 of 14 100K/70K/85K/86K
Dec10-May11 14 of 14 105K/75K/90K/87K