COMPARE CMU MSCF vs MIT MFin

[zhouyun]

Hello,

I got into these two programs and have been debating on which one to take for a while.
I tend to take MIT because of the brand name but also do wanna turn down CMU (NYC campus), which is probably the best in FE.
Without scholarship from CMU the cost would be around $70K for one and a half year, which is almost the same with MIT Mfin.
I really like MSCF but have very little programming background so I wonder if I can handle those programing intensive courses, but one the other hand, getting familiar with programming might be always beneficial in future career.
It looks like it's easier to get a job right after graduation from CMU ( MIT is only one year without internship opportunity, so it might be difficult to get a job? ) but in the long run MIT has a bigger name. I will try to work in the State first and go back to Asia later.
My career goal is in hedge funds or S&T. CMU seems has comparative advantage in these fields but I guess a MFin curriculum is also enough as I am not interested in quant.

I would appreciate if anyone can help me to get out of this dilemma.

 

[mfegrad]

you can probably pick up programming pretty easily. there are always a few students who have minimal background in programming and they either take a course prior to matriculation or spend some time doing self-study.

you say you're interested in hedge funds and s&t. what about either of those are you interested in? what do you want to do? andy had a good post within the last week or so about the whole "i dream of working for a few years and then going back to asia to start up my own hedge fund" story. the first job you land out of whatever degree you pursue will be the most important (and it will most likely be the last) job you will ever have, so it's best to focus on whatever will get you that first job.

 

[vashok]

MIT Mfin can basically be a quant degree depending on the electives, or track you take. If i had a choice between the 2, Id definitely pick MIT. Since you can tailor your education more to your interests and you have the "MIT" brand name. I know that Andy is not too huge on brand name. But given these 2 schools and the fact that MIT's curriculum can be tailored, I would say the brand name would essentially be the difference.

 

[MSFHQ]

I don't know. The MSCF program at CMU is amazing. For those "in the know", CMU is great. MIT might impress people at the bar, but if you want to get into a hedge fund or a elite trading shop, I think CMU's program might be best. The MIT MSF is going to be something great, but I still think they have kinks to work out.

Just my .02 cents

 

[Jimish]

Hello,

I got into these two programs and have been debating on which one to take for a while.
I tend to take MIT because of the brand name but also do wanna turn down CMU (NYC campus), which is probably the best in FE.
Without scholarship from CMU the cost would be around $70K for one and a half year, which is almost the same with MIT Mfin.
I really like MSCF but have very little programming background so I wonder if I can handle those programing intensive courses, but one the other hand, getting familiar with programming might be always beneficial in future career.
It looks like it's easier to get a job right after graduation from CMU ( MIT is only one year without internship opportunity, so it might be difficult to get a job? ) but in the long run MIT has a bigger name. I will try to work in the State first and go back to Asia later.
My career goal is in hedge funds or S&T. CMU seems has comparative advantage in these fields but I guess a MFin curriculum is also enough as I am not interested in quant.

I would appreciate if anyone can help me to get out of this dilemma.

Zhouyun,

I am thinking of applying to MIT for the MFin program next year. I was wondering if you could share some details about your profile and things you thought were helpful in getting an admit at CMU and MIT.

Your help is greatly appreciated.

Thanks in advance.

 

[Asianbear]

Hello Fellows,


I was wondering how people would compare those two programs.

What do you think about it?



Thanks!

AB

 

[mfegrad]

i'd compare them like i would apples and oranges, although it'd be a honeycrisp apple against a cara cara orange.

 

[alain]

honeycrisp hands down

 

[Trev]

Where's the cantaloupe and/or honeydew fit in?

 

[MSFHQ]

I think MIT's program is a MSF and CMU is a quant program. MIT will set you up for investment banking, but doesn't have the level of math or programming that CMU has. Both are amazing brands and respected programs, but if you want to be a quant I would go with CMU.

 

[Asianbear]

Thank you for your kind replies.

If one is interested in sales & trading, what would you recommend?

 

[IntoDarkness]

mit will do. cmu doesnt really prepare u for s&t

 

[phx]

Hello Forums,

Recently got offers from MIT and CMU along with some other schools. My background is Mathematics/Finance and has done a couple of internships in front office investment roles (some quant involved, but not very quant). Aiming to become a portfolio manager in the future. Strong interests in fundamental investing with utilizing of quant tools (not very interested in pure quant investing). Now, there is a tough decision to make.

MIT is my dream school with a huge reputation and more diversified students profile. The curriculum is very finance-oriented, which is good for fundamental investing, but I feel less challenging (some of the topics already learned). From career data, it looks like much more buy-side firms, but also many "random firms". Given my current profile, I'm able to get interviews from those firms, then what's the incremental benefits from going through this program? Any comment on MIT career service is helpful.

CMU curriculum is very quant-oriented, the curriculum seems very challenging. Not sure if it is worthy to spend one year on C++, which I prob never gonna use again in my life (my personality doesn't allow me to be a pure coder, but I do enjoy quant methods). Career service seems very strong. Having tier 1 BB on my resume is really attractive and I think it gonna help me a long way. The cohort I assume consists of people who want to be pure quants. I'm a little afraid that it might be hard to find people to discuss about investment and markets every day.

Thank you very much! Any comment is helpful!

 

[junowacc]

Investment space moving more to quant every year. If you are able to learn the quant materials better to do it while you can? Lots of ways to build fundamental skills after you've learned quant - pretty tough to do it the other way around. FYI MIT will not let you 'pass out' of basic stuff like accounting, unless you took it at MIT already...you looking at tuition $$ for decision too? Congrats / good luck.

 

[gautamcity]

CMU MCSF: TUITION $56k BASE SALARY $106k

MIT MFIN: TUITION $78K - 106K BASE SALARY $85K - 95K

Straight from the school sites - Money not everything but that's a pretty big difference, bro!

 

[Onegin]

CMU MCSF: TUITION $56k BASE SALARY $106k

MIT MFIN: TUITION $78K - 106K BASE SALARY $85K - 95K

Straight from the school sites - Money not everything but that's a pretty big difference, bro!

I think CMU is quoted per annum, need to multiply by 1.5

 

[Onegin]

CMU Seems to have a stronger reputation within the quant finance community due to the reasons you note in your post. MIT definitely has that ‘genius’ cache, and it is a great program in its own right. Might be handy if you want to be client facing.

CMU have added a lot of data science to the curriculum, so they are using python and R now as well. I’m doing the C++ program on here to try to solidify my programming before starting. I think if i know C++, I’ll do learn other, more abstracted, languages easier. And I’ll write better code.

Good luck in your choice. CMU has an admitted students day, probably MIT had the same. If you can go to one of those or ask admissions to connect you with a current student, that might help answer your question on peer fit.

 

[phx]

CMU Seems to have a stronger reputation within the quant finance community due to the reasons you note in your post. MIT definitely has that ‘genius’ cache, and it is a great program in its own right. Might be handy if you want to be client facing.

CMU have added a lot of data science to the curriculum, so they are using python and R now as well. I’m doing the C++ program on here to try to solidify my programming before starting. I think if i know C++, I’ll do learn other, more abstracted, languages easier. And I’ll write better code.

Good luck in your choice. CMU has an admitted students day, probably MIT had the same. If you can go to one of those or ask admissions to connect you with a current student, that might help answer your question on peer fit.

Good points! From QuantNet, the ranking for MIT is so low. Is this because only roughly 1/3 of students studying quant in this program? In terms of the quality of "quant" courses, are those MIT quant courses have similar quality as CMU? (I know the choices are much less). Anyone could explain why the ranking for MIT MFin is so low? Any comment is helpful!

 

[Onegin]

I can't explain, but I can guess. . . MIT is a much newer program, and it's targeting a different kind of demographic. It's out of sloan, so much of the curriculum is finance heavy, and it's definitely early career so salaries will be lower. They've come a long way, and they have solid leadership generally in line with the industry. That said, when I spoke with quant recruiters CMU consistently came up as the top (I think data on quant net ranking reflects this with CMU having highest reputation score). Interns from MIT that I saw generally worked on the marketing / strategy roles while CMU interns went to the portfolio management / research teams. I like CMU because it's the only program where it's a partnership of 4 departments - that means all of the courses are tailored and integrated to the program. The alternative is to have a program housed within a single department, then add on Comp Sci / Optimization, etc from the general course sections of other departments. CMU are also very open to industry feedback. While the curriculum has less electives than other programs, I like that I would be coming out of there with a solid foundation. These are just my opinions though - it's worth doing visits if you can swing it for your own due diligence. Congrats on getting into 2 great schools.

 

[Wu Fang]

CMU MCSF: TUITION $56k BASE SALARY $106k

MIT MFIN: TUITION $78K - 106K BASE SALARY $85K - 95K

Straight from the school sites - Money not everything but that's a pretty big difference, bro!

your answer is really quantitative and straightforward, hhhh