Did i mess up my chances for a good MFE program?

[wanabequant]

So i don't know how much of this is relevant, but here's my story:
As a high school student i scored a 33 on my ACT and 2110 SAT first time without studying. I got into some good schools, no top ten or anything, but Emory, Notre Dame, Vanderbilt. But my parents pushed me to go where i got the most money because at the time i thought i was going to be pre-med. So I ended up going to a small private liberal arts school in the 50-100 ranked range. Anyway I've changed my mind and now I'm majoring in Math and would like to get into a Masters of Financial Engineering program if i could get in, or if not hopefully a Masters of Finance program. I'm confident that i can score well on the GMAT/GRE, and my GPA by the time i apply should be in the 3.75-3.8+ range with all A's in math, but will the fact that I"m not at a "top" undergraduate school hurt my chances of getting into a top MFE or MSF program? How about a not-top program? Will I still be able to get into a good MSF program?

This is a separate question, but will my chances also be hurt if I apply without relevant work experience? For most of the programs i looked at it said work experience was not required and some even stated that up to 80% of the class had 0-2 years of work experience. The reason i'm worrying about this and not just trying to get work experience first is because i have a feeling that i'll find it difficult to find relevant finance work experience with a pure math degree from a liberal arts school. Otherwise i would consider trying. Thanks for the input people.

 

[Connor]

Yes I think it will hurt your chances of getting into a top program, but I would think you would be able to get into a MFE program somewhere. What is your programming background like?

As you said relevant work experience is not required, but it is helpful in getting a job afterward.

I see your options as going to a non-top program, getting a job, or getting another masters (like math/stat at a top program).

 

[wanabequant]

Thanks for the input. And to answer your questions, right now I've just taken intro to programming, which was just basic programming in Pascal. But I plan to minor in Computer Science. And as for getting into a not-top FE program, do students in these programs still have good job opportunities? Or is it more like all the best jobs go to the top programs, and little gets left for the rest?

And as for other options, how about a regular Masters in Finance? Is it easier to get into a top MSF program than it is for a MFE?

Thanks again

 

[wanabequant]

And also when you say you think I should be able to get into an MFE program somewhere, what kind of places should I look? At the middle/bottom of QuantNet's ranking list, or on schools not listed like new programs? Sorry if my questions sound stupid, I'm just trying to familiarize myself with all this. Thanks

 

[alain]

but will the fact that I"m not at a "top" undergraduate school hurt my chances of getting into a top MFE or MSF program?

IMHO, no, it doesn't hurt. Take it from somebody who went to an unknown undergrad school and already graduated from MFE. So, I went through the process.

Also, I have seen a lot of students coming to our program from a lot of different backgrounds. Make sure you well in your GRE and that you can prove you are very good. I recommend to pick some sort of research project in the field. That will give you a leg up against the competition. It can only help.

 

[qchan]

I concur with alain. I went to a public university ranked around 30 - 40 range in usnews with a BA in Math. I had no relevant work experience and will be going to Columbia starting July. So I don't think you have to worry.

As long as you have a good GRE quant score (780+), strong SOP, and good recommendations then you've done all you could and just wait out and see. You'll never know unless you apply.

 

[Sanket Patel]

While relevant work experience will boost your chances of admission, it is not an absolute requirement. In fact, I'm not aware of any MFE program which requires work experience. Also, not attending a top 10 school for undergrad won't adversely affect your chances of admission. I, for one, managed to get admitted to the Baruch MFE with no work experience, only an undergrad degree from Florida State University.

 

[alain]

I went to a public university ranked around 30 - 40 range in usnews with a BA in Math

My undergrad school was not even in the USNEWS rank... and I did part of my undergrad in another country that used to be known for their educational system but I don't think that influenced the decision.

 

[Scooot]

While relevant work experience will boost your chances of admission, it is not an absolute requirement. In fact, I'm not aware of any MFE program which requires work experience. Also, not attending a top 10 school for undergrad won't adversely affect your chances of admission. I, for one, managed to get admitted to the Baruch MFE with no work experience, only an undergrad degree from Florida State University.

Can I ask what your background was?

Mainly what'd you study at FSU, GRE/GMAT scores, GPA?


I ask because I had originally thought that you needed a very solid resume/application to get admitted to these programs. And I was thinking Top tier school, very strong GPA in a hard science degree (Math, Physics, Engineering, Programming) along with some work experience or other related projects.

I spoke yesterday with Joy from this site and he basically told me that this line of thinking isn't exactly correct...which was nice to here.

 

[wanabequant]

Thanks for the helpful advice. I was pretty discouraged about my chances at an MFE program. But I'm confident that my GPA will be good, and I'll try to do everything i can to help my GRE. As for experience, where can I look for relative internships/ research?
Some summer programs i know i can get into are Math REUs and actuarial internships (I have passed an exam). If i can't get into directly related to FE, will those still be helpful?

Thanks again.

 

[alain]

As for experience, where can I look for relative internships/ research?

For this, you are mostly on your own. That's what helps separate men from boys if you know what I mean.

 

[wanabequant]

Haha alright, I gotcha

 

[Marko]

maths

Haha alright, I gotcha

You only need to ask yourself are you ready for MFE with your current mathematics and programming background?

Too many wannabe in the market because they think that MFE can give them a gold pot. I can see that many schools in US or around the world will take this opportunity to make money so long as they can recruit students regardless of their eligibilities. Again, good school will more likely to keep their admission standard.If you decide this is your career path, build up your foundation and arsenal to combat.

You set your rule if you want to get it. MFE = Extreme Hard Work.

 

[pruse]

the most important thing is to be sincerely passionate and persistent. the top programs are interested in people who demonstrate these qualities. your GPA alone or your GRE alone won't guarantee either a positive or negative response -- it's the over-all picture you present. show a commitment to excellence. and yeah, make sure you're good at math and/or programming and you can prove it

 

[Andy Nguyen]

This is a separate question, but will my chances also be hurt if I apply without relevant work experience

Experience is a double edged sword. Speaking from an admission committee's point of view, if you have "relevant experience", you are expected to demonstrate a deeper understanding of the industry, how your experience will benefit the program, how the program will fit in your career plan, what the program will provide that you can not get from work, etc.
I've seen cases where experience doesn't necessarily reflect in a stronger application in general.

 

[wanabequant]

Experience is a double edged sword. Speaking from an admission committee's point of view, if you have "relevant experience", you are expected to demonstrate a deeper understanding of the industry, how your experience will benefit the program, how the program will fit in your career plan, what the program will provide that you can not get from work, etc.
I've seen cases where experience doesn't necessarily reflect in a stronger application in general.

Thanks for that input; I haven't heard that before. So I think next summer I'm going to do a Math REU, junior year do some kind of independent study/research in a financial mathematics subject, then that summer try my best to find an internship. All that along with keeping my grades up, studying for GRE, volunteer work, etc. Is that sensible?

 

[Connor]

Very sensible, good luck!

 

[makaveli]

Dude don't worry about your undergrad university ranking.

Case in point, I did undergrad at the University of Auckland (I doubt anyone on this forum has heard of it, let alone know of any professors or research to come out of it).

Even though UoA is hardly prestigious on a global scale, I got accepted to quite a few decent finance and FE programs (MIT MFin, Cornell FE, Columbia MSFE, CMU MSCF, LSE MSc Finance and Imperial College Rm&Fe).

Take from that what you will.

(btw I'm going to Cornell FE this August on two fellowships totaling ~$30k)