combined MBA/MFE programs

[latency]

Hi All,
I was looking at a few programs and found that NYU and CMU have combined MBA/MFE programs. Is there any point in doing both? Is it hard to get into those programs?
Thanks

 

[Connor]

Generally joint degree MBAs require that you apply and be accepted into both programs. So for example you could end up getting accepted into the MBA but not the MFE or vice versa.

Is there a point? I think it really depends on what you want to do.

 

[physEcon]

Is there a point? I think it really depends on what you want to do.

Exactly. What sort of career are you after?

In addition to the schools you said, Georgia Tech. and Claremont Graduate University both have dual degree programs.

Depending on the school, you may not have to pay an extra application fee to apply to both programs, moreover their admissions are not linked, i.e. you could be accepted to both but then choose one or the other or both. You will probably have to take both the GMAT and GRE but a lot of schools have become more flexible about this for dual degree students. Finally, there tends to be a decent amount of money available to dual degree students because it is a shared expense between the programs. Taking the extreme (and rare, but illustrative) example. The school can offer you a full ride, but then the FE program only has to be "billed" for half and the MBA program for half. With the way that a lot of universities handle their accounting this is very attractive for those programs. They get to give you a better offer and it only "costs" them half of what it should.

 

[Anthony DeAngelis]

I think it is a great idea considering the opportunity cost involved in repeatedly taking time off to go to school, but you need to make sure you have the WE needed to really benefit from an MBA program. There is a slight trade off since the schools that offer a joint program and that are great at a MFE tend to be not as good for an MBA.

CMU is a great example. I love their MSQF and I think their MBA is good also, but if you just went for the MSQF you could get an amazing position and then use that position as a spring board for a T10 MBA later on. If you did the joint program you would be settling for a T20~ MBA. Really is your decision.

 

[latency]

I guess an MBA is useful if one does not want to get billed as a quant alone. Especially in sales and trading where an MFE might get pigeonholed into doing number crunching kind of work for the traders.
I am not sure I understand what you mean by schools offering a full ride and your example. I think combined MBA/MFE students are attractive to schools because its more tuition for the schools, correct me if I am wrong on that one.

Exactly. What sort of career are you after?

In addition to the schools you said, Georgia Tech. and Claremont Graduate University both have dual degree programs.

Depending on the school, you may not have to pay an extra application fee to apply to both programs, moreover their admissions are not linked, i.e. you could be accepted to both but then choose one or the other or both. You will probably have to take both the GMAT and GRE but a lot of schools have become more flexible about this for dual degree students. Finally, there tends to be a decent amount of money available to dual degree students because it is a shared expense between the programs. Taking the extreme (and rare, but illustrative) example. The school can offer you a full ride, but then the FE program only has to be "billed" for half and the MBA program for half. With the way that a lot of universities handle their accounting this is very attractive for those programs. They get to give you a better offer and it only "costs" them half of what it should.

 

[physEcon]

I am not sure I understand what you mean by schools offering a full ride and your example. I think combined MBA/MFE students are attractive to schools because its more tuition for the schools, correct me if I am wrong on that one.

That's one side of the equation. They also offer the dual programs because there are talented students that want them. Some schools like GA Tech have graduate assistantships (GA) available for masters students. I *think* that all else being equal you are more likely to get one if you apply as a dual student because you get a chance to get one of the GAs allocated for the quant finance students or one of the GAs allocated for the MBA students. MBA programs in general tend to give better scholarships/fellowships. Additionally there are lots of third party scholarship sources for MBAs - especially if you belong to a minority group.

 

[Phonon]

I think Cornell also has a joint program.. although their MFE is granted as an M.Eng in ORIE w/ finance concentration .. but you can do it w/ an MBA jointly