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COMPARE CMU MSCF (NYC) vs. Columbia MFE

CMU vs. Columbia

  • Total voters
    81
thanks and to u.
thinking of asset management, which is what id like to do. def gonna take some programming classes to keep up with people coming outta other programs
 
Ya, programming is a must in a any quantitative field nowadays, finance related or not. I'm interested in computational finance and trading systems however I know algo trading jobs are insanely competitive. I've seen some articles on quant net saying you pretty much have to be Will Hunting to land one. Not sure how true this is.
 
yea ive heard its really tough. im assuming u mean HFT? from what i hear its becoming a thing of the past
 
No actually, I want to stay away from the high frequency stuff for that reason specifically. While regulations will certainly take a huge toll on HFT, algo trading is here to stay in my opinion.
 
right gotcha just wantted to make sure since people sometimes use them interchangeably. id like to do something more like asset managemet based on quant algorithms but not quite as intense as strt algo. im a math guy at heart but have been in finance for 3 yrs
 
Ya I know many firms, Blackrock comes to mind, have a lot of positions for people like that. I'm wondering if doing a concentration in something like asset management might be more beneficial in the end.
 
The Blackstone Group L.P. is an American multinational private equity, investment banking, alternative asset management and financial services corporation based in New York City.
 
Anyone have thoughts on Columbia MAFN vs CMU MSCF? I am admitted MAFN and have an interview invite for CMU. Thanks.
 
fe app said:
everyone i spoke to said unless going to columbia MFE than def go to cmu.
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That's what I got from the information I gathered too. But I am wondering if the job I get CMU MSCF will really be "that" much better than what I may get in Columbia MAFN. I have plans to go back to graduate school after 1-2 years of work so I think Columbia's name might be better for a non-finance related graduate program? Thanks for your thoughts.
 
Finance Applicant said:
That's what I got from the information I gathered too. But I am wondering if the job I get CMU MSCF will really be "that" much better than what I may get in Columbia MAFN. I have plans to go back to graduate school after 1-2 years of work so I think Columbia's name might be better for a non-finance related graduate program? Thanks for your thoughts.
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  1. Could be but u should probably think about what type of program ur gonna go to now and see if CMU is well known in that field as well
 
@Jedison Contrary to what you think based on what you read on the website, the concentrations mean absolutely nothing. You will forget they even existed after September. Many Columbia MFEs take easy business school courses just to fulfill requirements and get out of here. Basically you make your own concentrations. Those are just guidelines, and I don't like them because they feed the naivete of the incoming class about what the quant job market looks like and what skills you really need. Everyone comes into these MFE programs thinking they're going to be algo traders, portfolio managers, quant researchers, or something fancy like that which has been romanticized by the media and other naive students. I won't say that this is false, but the truth is far more complicated, and definitely false for 90% of MFE students. You will see.

My advice would be to talk to more people in the industry and find out what the market actually looks like. As I did when I started, you probably don't have a clue. You will do far better when you actually know the battlefield you are about to be deployed on.
 
I was choosing between CMU NY MSCF and Columbia MFE. The reason I chose MFE is because their program teaches you the most the fastest by cramming information into your head very early on. That makes you better able to interview early as in my experience, I had an advantage over Princeton and CMU counterparts. Columbia's MFE classes are taught at a PhD level, and this really helped with the job search which geared up in September while CMU and Princeton were focused on teaching people the "foundation." Also, Columbia's curriculum is a lot more hands on. The one thing that Columbia sucks at right now is teaching programming, but they are getting better, and if you already know it, you'll find it that much easier.

But honestly, who cares about measure theory? Better to learn stuff that are actually asked in interviews, and used in the field. And no, stochastic calculus is not as important as incoming students would like to think. Columbia is just good at teaching you exactly what you need to know, and getting you out there to get a job. Once you get a job, you will not care anymore. I swear. I didn't think it would happen to me or my friends, but it did. You have no idea.
 
ygmwy said:
I was choosing between CMU NY MSCF and Columbia MFE. The reason I chose MFE is because their program teaches you the most the fastest by cramming information into your head very early on. That makes you better able to interview early as in my experience, I had an advantage over Princeton and CMU counterparts. Columbia's MFE classes are taught at a PhD level, and this really helped with the job search which geared up in September while CMU and Princeton were focused on teaching people the "foundation." Also, Columbia's curriculum is a lot more hands on. The one thing that Columbia sucks at right now is teaching programming, but they are getting better, and if you already know it, you'll find it that much easier.

But honestly, who cares about measure theory? Better to learn stuff that are actually asked in interviews, and used in the field. And no, stochastic calculus is not as important as incoming students would like to think. Columbia is just good at teaching you exactly what you need to know, and getting you out there to get a job. Once you get a job, you will not care anymore. I swear. I didn't think it would happen to me or my friends, but it did. You have no idea.
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Hi @ygmwy ,

I agree with you that starting earlier does help with interview for internships. However, Columbia cancels the summer term this year, i.e. Columbia students will have the same level of foundations knowledge as CMU/Princeton students when they are on the market for internship. I have no idea why summer is cancelled and whether refresher courses are provided. What is your choice if no summer term? looks like this is the biggest argument you have.

Thanks,
biwu
 
biwu said:
Hi @ygmwy ,

I agree with you that starting earlier does help with interview for internships. However, Columbia cancels the summer term this year, i.e. Columbia students will have the same level of foundations knowledge as CMU/Princeton students when they are on the market for internship. I have no idea why summer is cancelled and whether refresher courses are provided. What is your choice if no summer term? looks like this is the biggest argument you have.

Thanks,
biwu
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Hmm, is that so? All I can say is that Columbia knows what you need to know and what you don't need to know. That is what I like about the program. Princeton and CMU seem to be more academic and research oriented. If that's your thing, you can still find it at Columbia, but on average, Columbia is more of what they call the "engineering approach" which is all I care about. You'll see that people don't care about school once they have their job. Learning is so much faster and relevant and tangible in the job. That kind of approach works for most people. Still, Columbia has the best names in research teaching there. Someone else can rebutt for Princeton and CMU.
 
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