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Biswas Garg does not have a Tracker for this program.
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In an interview, what will be a good answer to the "state your goals clearly" question, specially for someone coming from a non-finance background? I believe that once you are about a semester into the program, you will have a clear (or some) idea about your future plans. How can one state them clearly even before starting the program. Any suggestions?
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Biswas Garg does not have a Tracker for this program.
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My application says that it is currently under review, but I believe that interview process will start soon, if not already started.
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eng does not have a Tracker for this program.
Mine says that too. The interviews must have started by now since the decision notification will be by Jan 24th.
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Biswas Garg does not have a Tracker for this program.
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They might have. I don't think they will interview anyone over the holidays, though.
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marina does not have a Tracker for this program.
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Andy Nguyen does not have a Tracker for this program.
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Whatever you say, don't say this
"I want to be a trader at a top bulge bracket after completing the program. After 5 years on Wall Street where I learn all the latest technique and knowledge, I will come back to (insert a Southeast Asian country) and open a hedge fund where I apply my knowledge to modernize the thriving financial market at home so it can be the capital of the world in finance."
It sounds naive but not far stretched from the many applications I have read. The results? These applicants usually get rejected regardless of how high they GRE/GPA are.
The purpose of that question is to find out whether you have done research into this field or just one of the many gold diggers.
Have you read the newspaper? Talk to people who are working in product space of your interest? Do you know what their day to day routine is like? Do you know what your strength is and how you intend to outshine hundreds of other students and later professionals?
People don't expect you to lay down your 5 year plan exactly to the details but if you have no clues, it will show.
Given the uncertainty, programs are trying to manage expectation and the last thing they want is people who complain that they didn't get what they want after spending $100K for a master degree.
"I want to be a trader at a top bulge bracket after completing the program. After 5 years on Wall Street where I learn all the latest technique and knowledge, I will come back to (insert a Southeast Asian country) and open a hedge fund where I apply my knowledge to modernize the thriving financial market at home so it can be the capital of the world in finance."
It sounds naive but not far stretched from the many applications I have read. The results? These applicants usually get rejected regardless of how high they GRE/GPA are.
The purpose of that question is to find out whether you have done research into this field or just one of the many gold diggers.
Have you read the newspaper? Talk to people who are working in product space of your interest? Do you know what their day to day routine is like? Do you know what your strength is and how you intend to outshine hundreds of other students and later professionals?
People don't expect you to lay down your 5 year plan exactly to the details but if you have no clues, it will show.
Given the uncertainty, programs are trying to manage expectation and the last thing they want is people who complain that they didn't get what they want after spending $100K for a master degree.
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AlexandreH does not have a Tracker for this program.
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That is funny because my goal is very close to that.
what about that:
"I want to be a trader at a top bulge bracket after completing the program. After 5 years experience on Wall Street, I will come back to XX and open a hedge fund using the network I have built in the region ,my pre-MS finance experience and my knowledge of the subject matter from my Education and my Wall-Street experience."
Which part above is the bad one? What if this is really my goal? Will it be rejected if I have an MBA and 8 years experience in Finance and Programming and actually see this as a feasible plan?
what about that:
"I want to be a trader at a top bulge bracket after completing the program. After 5 years experience on Wall Street, I will come back to XX and open a hedge fund using the network I have built in the region ,my pre-MS finance experience and my knowledge of the subject matter from my Education and my Wall-Street experience."
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Andy Nguyen does not have a Tracker for this program.
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If this comes from students applying straight out of undergraduate degree, would it make sense?
There is no one-size-fit-all goal but the goal should be realistic and inline with what you have been preparing for in your previous work, study.
I'm realist and when I read these essays (I read hundreds of them each year), it strikes me as bad.
There is no one-size-fit-all goal but the goal should be realistic and inline with what you have been preparing for in your previous work, study.
I'm realist and when I read these essays (I read hundreds of them each year), it strikes me as bad.
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AlexandreH does not have a Tracker for this program.
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So for my profile (top 15 MBA, 2 years investment banking bulge bracket experience, 2 years private equity experience, 4 years pre-MBA software programming), and assuming I get accepted into a top program and get 4-5 years trading experience in US, it is not totally crazy to have the statement above as a goal, is it?
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alain does not have a Tracker for this program.
alain
Older and Wiser
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why don't you put whatever you have in mind as a goal in the essay, send the application, put what you wrote up here in QN and let us know about the outcome? This is the old "put your money where your mouth is".
Just make sure you don't send the application to any school that Andy is helping because, you pretty much know his opinion (BTW, I agree with Andy but I'm not involved in any application process).
Just make sure you don't send the application to any school that Andy is helping because, you pretty much know his opinion (BTW, I agree with Andy but I'm not involved in any application process).
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Andy Nguyen does not have a Tracker for this program.
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Now, this question pertains to the CMU MSCF program. I can't speak on their behalf or pretend to know what is the "right" answer to this question.
That said, I have to disclose that I do keep in touch with administrators at several top programs so while I know the general thinking, my advice should be taken as general guide, not specific to any program.
Remember this is an interview question and you should be able to answer follow up question. Once you start saying "I want to do X in 5 years then do Y to become Z", you need a clear and convincing answer for "How?" and "Why?", "What's your plan B?"
If you haven't thought about "How" and "Why", "Plan B" you clearly didn't think this through and it puts the onus back on you.
Every "I want to be a trader" wannabe will be asked that question. Do you know the percentage of that program's graduates become a traders right out of school? 5 years after graduation? How about for someone with similar background?
Do you know the average life shelf for a Wall Street trader? Do you know most traders are losing money? Do you know what it takes to open a hedge fund?
If you have answers to these at the ready, go and get them. If not, rethink your plan. I can only tell you that the people who have been reading applications are very cynical and they can smell BS about 10 seconds into your essay.
There are many shady programs taking shallow applicants. Top programs have learned their lesson that just taking the geeks with perfect GRE won't do they much good in the long run. They want savvy customers, who have a realistic view of the market and can benefit the program.
That said, I have to disclose that I do keep in touch with administrators at several top programs so while I know the general thinking, my advice should be taken as general guide, not specific to any program.
Remember this is an interview question and you should be able to answer follow up question. Once you start saying "I want to do X in 5 years then do Y to become Z", you need a clear and convincing answer for "How?" and "Why?", "What's your plan B?"
If you haven't thought about "How" and "Why", "Plan B" you clearly didn't think this through and it puts the onus back on you.
Every "I want to be a trader" wannabe will be asked that question. Do you know the percentage of that program's graduates become a traders right out of school? 5 years after graduation? How about for someone with similar background?
Do you know the average life shelf for a Wall Street trader? Do you know most traders are losing money? Do you know what it takes to open a hedge fund?
If you have answers to these at the ready, go and get them. If not, rethink your plan. I can only tell you that the people who have been reading applications are very cynical and they can smell BS about 10 seconds into your essay.
There are many shady programs taking shallow applicants. Top programs have learned their lesson that just taking the geeks with perfect GRE won't do they much good in the long run. They want savvy customers, who have a realistic view of the market and can benefit the program.
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eng does not have a Tracker for this program.
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Andy Nguyen does not have a Tracker for this program.
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AlexandreH does not have a Tracker for this program.
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I am not arguing, I am just asking and I did not get the answer to my last question? Given my profile, can I say this?
All I want is your point of view, not what CMU will do?
All I want is your point of view, not what CMU will do?
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Andy Nguyen does not have a Tracker for this program.
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I would say it sounds more plausible as a 10 years plan than 5.
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bluechimp does not have a Tracker for this program.
Most definitely that can be your goal, but to temper the argument: 5 year forecasts are rarely accurate. If anyone had told me that I'd be doing EM distressed investing, six years removed from my MFin education, when I was nicely tucked in Princeton -- I would've never believed it. But that's what it is.
Especially in the world we're living in today, changes are rife and you'd be best prepared if you are flexible. By the way, I haven't seen too many PMs with your profile on this side of the world
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AlexandreH does not have a Tracker for this program.
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Thank you Andy and bluechimp. I will make some changes to my statement.
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Biswas Garg does not have a Tracker for this program.
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eng, did you contact CMU-MSCF staff?
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Biswas Garg does not have a Tracker for this program.
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Thank you all!