UCB MFE Does Berkeley MFE give any scholarship?

[Kittu]

Thank you Kittu!

That was helpful, but given than one spends 100k (Quote: Total Cost of Attendance $97,986) and gets a salary of 100k in New York which is very expensive place, and assuming loan is India what is net liability after 2 years and how does one manages to pay loan?

Yes front roles are not outsourced but most of back end jobs are outsourced, I have been looking at it IB where many banks have moved their research & analytical part to India.

Considering the fact that industry in it's most troubled shape, tuition bubble is just around to burst, outsourcing has been aggresive in last 5 years, one needs to be very careful become moving in MFE.

Debkumar: I hope this helps.

If you want to work in Back office, then don't even think about an MFE. It's not needed. You will probably be over qualified for a back office job(and thus might not be satisfied with it?). You need not spend money on MFE if your desired role is a back end role. MFE programs are geared towards preparing students for front office roles, research roles. The whole premises of whether pursuing an MFE in this market(or in any market) is a good idea breaks down with the target being the back end role.

Also, as someone has already pointed, research and quant groups are not OUTSOURCED to India or any other cheaper locations. Yes, some organisations have started putting up local presence offices in Asia. I really doubt if any proper front office roles are outsourced. To me it does not make any business sense to outsource your revenue center. Organisations usually outsource the cost centers(like the back office work),but not the revenue centers.

 

[debkumar]

Kittu, how is the job scene this year for UCB?

 

[Kittu]

Markets are tough...irrespective of school you go to...but people are interviewing...some already have offers...some might get soon!

 

[debkumar]

Markets are tough...irrespective of school you go to...but people are interviewing...some already have offers...some might get soon!

Is not it quite late!!! Session is supposed to be over by mid March, right? Also, how about converting the internships? How often does that happen?

 

[Kittu]

It's not late...full time recruiting just started under a month ago...we came back from internships by end of Jan!!!! Yes we graduate by March end, but times of 100% of placement by graduation are long gone...And I say that for schools across the board...not just Berkeley..

Internships-FT conversion happens and does not happen for various reasons... In good times about 50% of class came back with FT offers...in current times, that number is low...

 

[debkumar]

Is it specially bad this year or it is bad for last couple of years as well?
I am seriously considering this, but given the financial burden I am little scared.

 

[Kittu]

Is it specially bad this year or it is bad for last couple of years as well?
I am seriously considering this, but given the financial burden I am little scared.

The Financial crisis has been on since 2008-09....since then things have been slow I think.

Nonetheless, Berkeley's placement stats have been impressive...and better than most of the other MFE programs, being second to none ever. I hope you had a look at http://mfe.berkeley.edu/careers/placement.html

I would say the markets are bad...and they are bad for every school, every program..before deciding if you should go for Berkeley or not, you should decide if you really want to get an MFE!

 

[debkumar]

The Financial crisis has been on since 2008-09....since then things have been slow I think.

Nonetheless, Berkeley's placement stats have been impressive...and better than most of the other MFE programs, being second to none ever. I hope you had a look at http://mfe.berkeley.edu/careers/placement.html

I would say the markets are bad...and they are bad for every school, every program..before deciding if you should go for Berkeley or not, you should decide if you really want to get an MFE!

You are correct. I am thinking in general whether I should do it.

 

[Kittu]

I have received a couple of messages asking for Placement numbers for this year's class. I would like to mention here that I do not have any official figures and it would not be fair to give any random ballpark numbers...For FT recruiting you don't know how many ppl are being interviewed and for what all roles...Because students apply to many positions and as a class we hardly ever assemble together as most of our subjects are electives...so any estimate that I make will be biased ...
As I have already mentioned, the markets are tough and opportunities are few...The numbers are published on the website by July..