Considering 2nd BA/BS

[victormora]

Hello everybody,

I just turned 26 and I am looking for some hope and guidance on possibly doing quant work in the future. As of now, I have a poor application. Ultimately, I was lazy and did not care or know what I wanted to do. Also, I do not have any programming experience. However, I have been working at a boutique RIA for a year in operations as well as doing macroeconomic and market research. I have been self-educating myself and trading options and futures for the last couple of years while studying for the CFA Level 1 exam. I am mainly doing the CFA Level 1 for background knowledge. Below are some grades I received in my undergrad:

Calculus 1 - B
Calculus 2 - C
Calculus 3 - B
Linear Algebra - C

Statistics for Business/Econ - C
Intro to Econometrics - B

Overall GPA - 2.60
Economics Major GPA - 3.13

I received a BA in Economics from a state school in California. Only, Calc 1 was required for my major but I've always enjoyed math so I took the other classes as electives for fun. Although I enjoyed math, I did not do my best because I didn't care very much.

I am currently accepted into a MS in Financial Analysis program at University of San Francisco (see here). Frankly, I think I was accepted because my connection there and my excellent recommendations by professors from my undergrad program. I did well towards the end of my major but it was not enough to boost my GPA a lot. Some of my professors really liked me and have a lot of faith in me so they offered to write excellent recommendations. My employer also really likes me and has offered to write another excellent recommendation.

My question is this: Should I consider doing another BS or BA in Math or Computer Science in order to boost my qualifications and chances and getting into a decent MFE program? or should I do the 2-year MS in Financial Analysis program I am already accepted into then MFE? (The MS in Financial Analysis runs $50k so I definitely don't want to do if it will not help.)

Thank you all for your help!

 

[victormora]

p.s. I am willing to take the Calculus series again as well as Linear Algebra in order to try to get all As

 

[bigbadwolf]

My question is this: Should I consider doing another BS or BA in Math or Computer Science in order to boost my qualifications and chances and getting into a decent MFE program? or should I do the 2-year MS in Financial Analysis program I am already accepted into then MFE? (The MS in Financial Analysis runs $50k so I definitely don't want to do if it will not help.)

The courses are listed here. It seems to be a program in finance rather than quant finance. Specifically, no courses in programming (spreadsheets being as far they go), and no courses in hard core math (PDEs, numerical analysis, stochastic calculus). There is a small amount of overlap (a couple of courses in derivatives, one in econometrics, a couple in fixed income). It is unlikely it will ease the way into a reputable MFE program.

 

[Anthony DeAngelis]

The San Fran program is a quasi MSF program. I am about to post a mini review on my site. Not an MFE program.

 

[victormora]

I know it's not a MFE program and understand it is not even remotely close. I was simply wondering what the best option for me would be: the mentioned MS, a 2nd BA or BS in Math or Computer Science, or simply repeating courses and completing the pre-reqs? This is all to get into a decent MFE program of course.

 

[Prashant.Kumar]

I remain unconvinced going for a second Bachelors is worth your time, too little informational payoff (if any) for too much time and money invested.
Did you take a course in Differential Equations? Or a course in programming to make up for the absence of experience?

Did you consider the CQF? Rapid (6 month), cheaper than the MS you got into, focused on exactly what you need to know (with a primer to check you're up to snuff), provides programming modules to work up your skill. It sounds to me like the program was designed for you (people in the field looking to shift roles).
Relevant link if you might try and use the CQF for a pre-MFE: http://www.quantnet.com/forum/threads/cqf-as-a-prep-mfe.6466/
Interesting to note dstefan's comment.

 

[Tsotne]

You should get higher marks for either programs in Calculus. Otherwise you cannot have other subjects to recover math. For example you might have low assessment in one aspect of your application (middle-level GPA considered not competitive, low grades in GRE,GMAT) but you might be able to recover it by having related working experience, strong recommendations, research experience, etc. But having such low degrees in math is nonrecoverable. You should always build your application hopes on mathematical background, both-educational and working.

 

[victormora]

I remain unconvinced going for a second Bachelors is worth your time, too little informational payoff (if any) for too much time and money invested.
Did you take a course in Differential Equations? Or a course in programming to make up for the absence of experience?

Did you consider the CQF? Rapid (6 month), cheaper than the MS you got into, focused on exactly what you need to know (with a primer to check you're up to snuff), provides programming modules to work up your skill. It sounds to me like the program was designed for you (people in the field looking to shift roles).
Relevant link if you might try and use the CQF for a pre-MFE: http://www.quantnet.com/forum/threads/cqf-as-a-prep-mfe.6466/
Interesting to note dstefan's comment.

I have not taken any courses in Differential Equations yet. I was planning on re-doing the calculus series and linear algebra first. Good idea? As far as the CQF, I haven't not looked into it yet but will do my research and get back to you. Thanks for the advice.

You should get higher marks for either programs in Calculus. Otherwise you cannot have other subjects to recover math. For example you might have low assessment in one aspect of your application (middle-level GPA considered not competitive, low grades in GRE,GMAT) but you might be able to recover it by having related working experience, strong recommendations, research experience, etc. But having such low degrees in math is nonrecoverable. You should always build your application hopes on mathematical background, both-educational and working.

I like your advice. I was mainly considering a 2nd BA/BS because community colleges rarely offer anything past Calculus 3. I figure I will be giving myself a couple years to build up my skills so a BA/BS focused on math and programming courses seems reasonable.

On another note, I would love to build myself up with work experience but finding a semi-related quant job for experience is a little difficult. Although, my current job is very relaxed so I am able to work on my own projects as long as they relate to finance/trading/investments.

 

[Tsotne]

I like your advice. I was mainly considering a 2nd BA/BS because community colleges rarely offer anything past Calculus 3. I figure I will be giving myself a couple years to build up my skills so a BA/BS focused on math and programming courses seems reasonable.

On another note, I would love to build myself up with work experience but finding a semi-related quant job for experience is a little difficult. Although, my current job is very relaxed so I am able to work on my own projects as long as they relate to finance/trading/investments.

Good Luck!

 

[Joy Pathak]

This is a hard situation. I would not suggest spending all that money to do a Masters just to do another Masters. You're better off taking specific math/programming courses and applying to some MFE programs.
Look into possibly doing math/programming certificates at nearby colleges. That might be good.

Doing a Masters in FA will not help with a FE program entry. Even if you get in without the math background you will have a very tough time. You're better of doing a Masters in Stats/math or economics as an entry point to MFE if at all. Key is to take math/programming classes. You have the finance knowledge, now add the technicals.