• C++ Programming for Financial Engineering
    Highly recommended by thousands of MFE students. Covers essential C++ topics with applications to financial engineering. Learn more Join!
    Python for Finance with Intro to Data Science
    Gain practical understanding of Python to read, understand, and write professional Python code for your first day on the job. Learn more Join!
    An Intuition-Based Options Primer for FE
    Ideal for entry level positions interviews and graduate studies, specializing in options trading arbitrage and options valuation models. Learn more Join!

CMU MSCF choose from Columbia, NYU and CMU?

ooff

Joined
1/6/07
Messages
8
Points
11
Hi,
First of all, thanks all for giving me advice last time when I posted here. I think you guys are really awesome.
I applied for part-time study in Mathematics of Finance in Columbia, MSCF in CMU and Financial Math in NYU. Fortunately, I got admissions from all of them. Just trying to decide which one to go. I understand there are a few posts discussing about this already. Just would like to throw in my background and listen from you based on it.
I have a master in applied math, but not major in stats. And I've been doing quant developer for ~4.5 years with an algo trading team. I would like to move more towards trading and business side after the study.
I've talked with different people already and did some my own homework and found the following.
CMU:
good:
* in business school.
* broad coverage
* seems it's better recognized than NYU?
bad:
* 4 programming courses.
* not much exposure to algo trading and optimization theory
* too expensive
* curriculum is not flexible (i.e. must take 2 and only 2 courses in each mini-semester)
NYU:
good:
* curriculum is flexible (can take at own pace)
* cheaper than CMU
* more exposures to algo trading and optimization theory
bad:
* not in business school
* seems it has smaller graduate base and less recognized than CMU?
* quite heavy math (which may be good).
Like I said, I'm thinking about moving more towards trading/business side. This seems justifies CMU.
Given my experience in algo trading, I don't want to throw it away. This seems justifies NYU.
I'm kind of more inclined to NYU partly due to its cheaper tuition fee since I have to pay out of my own pocket. Is it possible to get a desk strats position after studying NYU and then move to a trading position later? Or, you guys think taking CMU directly will be worth of it?
Thanks again for your inputs.
 
I have only one question since it seems you are already in Finance. How a MFE degree will facilitate your move to trading/business side? I would've thought that in 4 and a half year you would've created good connection with your peers and managers such that a move like the one you want to make, could've worked out without going through school.
 
If you have so much experience on the quant side already how come you are not looking at a top MBA program? Seems like a MFE would be overkill.

I agree with Alain. You should be working your network right now to make the transition without going back to school.
 
"not much exposure to algo trading and optimization theory"?
Is that correct about CMU?
Does anyone have some information about this?
 
Hey oof...I am in kinda same boat...
However...I have 1.5 yr work experience..
Did u end up going to one of the above mentioned schools or did u pursue other opportunities?
PLs let me know if there are any reservations in the program that you have taken up..
 
1) According to the CMU curriculum, optimization techniques are mainly used in two courses, Financial Computing III and Quantitative Asset Management. However, I'm sure optimization techniques are used throughout the program.
2) CMU's program looks very mathematical and technical, as well.
3) I think the 4 programming courses is a very good part of the program. However, if you don't like it, its only 4 mini courses. I think you can consider them as 2 regular courses.
4) Also, CMU provides scholarships. I don't know if part time students are also eligible. But, if you are, you can get something around 20K. It makes the whole story much cheaper.
5) And, I don't know why you need a flexible curriculum when you are required to take ~26 courses throught the program. It covers so much that you don't even need to choose.
6) I don't think the fact that the program at NYU is not hosted by Stern is a negative thing. Courant is a very reputable school and many brilliant people graduated from Courant.
 
Just some more color on the number of computing courses at CMU MSCF.
If you are computer science major, you are exempted from the first two financial computing courses. You can't be exempted from Financial computing III and Simulation Methods.
That means not every students there will go through the same level of programming. That approach has its good and bad.
 
Back
Top