Florida State Univ - Fin. Math PhD

[baba]

Hi All
I am new to this forum.

I got accepted (with TAship) to the PhD program at FSU. I wanted to have some reviews on this univ. in the area of Financial Mathematics.

It would be great if any of guyz here can provide some info on

>Ranking - (I have seen the ranking of FSU in maths but its not very great. If anyone has idea of how is the Fin Math program over there, then pls post here)

>Research Group/ Faculty - (How is the faculty or the research group ? - Have searched on this as was not able to get a lot of info - Only info i cud get was that the Bussiness School of FSU is quiet good in Risk Management - which happens to be my area of interest)

>Placements - Being south (far from NYC etc) how are the placements?

>I also have a MS (Industrial and Operations Research) offer from U of Michigan Ann Arbor (without funding) where I have a option to shift to Ph.D. after a yr.
- I have this dilemma wheter to go to UoM on loans (being a international student this would be huge but i am willing to take the risk) or Play safe and accept FSU. My inclination is towards UoM because of its overall reputation and ranking.

It would be also great if someone can compare the two places given i wish to do my PhD in Risk Measures and I have a good Maths and Stats background.


Any help wud be appreciated

Thanks
B.

 

[Sanket Patel]

Baba,

I don't think you'll find much info about FSU here, since this forum concentrates mainly on the NYC community. But perhaps I can be of some help, I'm currently an undergrad at FSU. I've sat in a on a few of the Fin. Math classes at FSU. I'm not too familiar with the PhD program, but the Master's Program is not too bad. The professors are excellent. I'm currently enrolled in one of the required courses for the Ph.D program - Financial Economics, the course is excellent. It is in fact modeled after the one taught at NYU.

The FSU program is heavy on maths, but that is somewhat expected. From what I know programming isn't emphasized all that much. You are required to know a bit C++, Java or Fortran for a couple courses. I can't help you much with the Risk Management Program - I don't know about it. But the faculty for the Fin. Math program is excellent. It's not an All-Star faculty like that at NYU, but it is a strong group. There will be plenty of chances for research, especially since you're interested in PhD. Even as an undergrad, I've done vast amounts of research - none of which was required. But given that research will be required for you, that shouldn't be a problem.

Sorry if these comments seem a bit general or vague, I have class in about 5 minutes. If you have any other general or specific questions, feel free to let me know, I'll see if I can find out.

 

[MZhu]

hi,sanket patel

i'm an international student from china and have accepted the admission to fin.math m.s program at FSU. maybe i'll be at your university on June 26, for i have to attend three finance courses to get my finance background. by the way, my major in china is applied math with concentration on pure math. your reply to baba gave me a lot help to get more information about the fin.math program at FSU. as you said' The FSU program is heavy on maths', would you please explain the point in detail?

i'll really appreciate your help.
thanks.
alex

 

[MLBrandow]

alexzhu,

I am also an undergraduate student at FSU. I hope to be enrolling in the FinMath PhD track this Fall.

Some schools offer quantitative finance through their business school, FSU's is through the math department. What this means is that it is MATH first, and FINANCE second. The goal of this program is to set you up to be able to do all the dirty computations no one else can do. There are classes in both Financial Economics as well as electives in Derivatives, Investments and Banking that are available, but the crux of study at FSU is run right through the math department. This is a GOOD thing.


baba,

I hope this will provide you with adequate answers to your questions:

Ranking - Because all of these quantitative finance programs are so new, there isn't that much disparity between the schools, yet. If this were a more theory-oriented program and less about raw mathematics, I would say the disparity from top to bottom might be quite a bit more. Because math is the same wherever you go, however, I personally don't believe there is much of a difference. You may look to the CMU graduate interview that I posted, where he addresses this very dilemma from the "state to ivy" difference.

Faculty - I have taken extensive coursework in the mathematics department, and spoken with many of the financial mathematics professors. While I really have nothing to compare it to, they are a stand-up group. They are also much more American than you may think. Dr. Nichols, for example, teaches the Intro to Financial Math course for first year Master's students and is a very soft-spoken, brilliant mathematician who actually holds patent on a prominent new theory in mathematics (The Nichols-Zoeller Theorem).

Placement - This I cannot speak of at great length except to say that there are indeed recruiters from outside the state. While NYC recruiters bend over backwards for the schools in the area, they still venture out to all of the programs (as there are only a few dozen) in search of the real gems. There is also recruiting in Charlotte, because that is seen as a less desirable place by most than Manhattan. Personally, Charlotte is probably going to be my first choice for a job, so that simply works out better for me. They naturally have strong placement for companies in Florida, if working in either Tallahassee, Miami or Boca Raton (very nice part of south Florida) is more up your alley.


Regarding FSU vs. Michigan, I would factor in how you feel you are as a candidate on the social level. If you are an international student, do you have a strong mastery of English? If not, I would strongly urge you to consider the better program. If, however, you do, you may well find that there is a negligible advantage by paying $80,000 to go through Michigan rather than FSU. I say this because from what I have researched and been told, outside of the obvious (strong grades, etc), they look for people who would be a joy to work and communicate with. You need people skills. If it's something you don't feel is a strong point, you may want to consider attending Michigan for its stronger reputation, as recruiters would be more likely to overlook that shortcoming.

I would also talk to graduates and current members of both programs to see which gives you a better feel. Also, weighing in how much you like bitter winters and scorching summers might be a factor worth considering.

I hope this helps, and best of luck.

 

[MZhu]

MLBrandow,

thank u for your good information. there are some questions i wonder if you could answer them for me. Would you still pursue fin.math for PHD at FSU? and is it necessary to get a PHD in this field? Does the math department at FSU arrange courses about computer programming in graduate program? I didnt see it on FSU website.

have a nice day

 

[MLBrandow]

alexzhu,

The FSU Department is trying to recruit me into their PhD program. When I met with Dr. Okten (half of the dynamic duo that comprises the admissions tandem at FSU), he mentioned to me that Dr. Case (the other half) had inquired about another domestic applicant (serendipitous for me). So, if I start in the Fall at this program, it will be PhD track. I am wholly unsure whether I will take a job after two years and a Master's or whether I will pursue the PhD. I am quite sure I will know the answer in two years' time.


As far as necessity of PhD in the field, as I understand it, the reason that the Master's degree became so hot recently is because there aren't enough PhD's to take the jobs that these employers want. So, the Master's is an enticing alternative to broaden the field. Certainly the PhD is better than the MS, but I assume you want to know whether it is worth the extra time. This is a question I cannot answer because I do not know myself. My advice is, IF you think you may end up wanting the PhD or that it has the potential to be better, enroll in the PhD track anyway, and you can always change your mind.

If you are short on computer programming, you must start in the summer so as to take a programming class and catch up. If this is not possible, you will certainly take it in the Fall or you cannot proceed in the program, because the spring load requires proficiency in C++ or equivalent. I will be taking an introductory object-oriented programming in C++ course in the Summer.

Here is a link that should quell your uncertainties on the program in your second and third questions.

I am sure that with due diligence you will make the best decision. If that decision is FSU in the Fall, then I will likely see you then!

 

[Sanket Patel]

alexzhu,

I agree with MLBrandow - go for the PhD track, as you'll have option of completing only the Master's. Granted I have absolutely zero work experience, but I think it's a fair assumption that employers are likely to pay a premium for a PhD versus a Masters. I think it's ultimately a matter of opportunity cost. If you choose to pursue the PhD option, you will sacrificing income in the short term, but will be compensated for it in the future upon completion of the PhD.

 

[MZhu]

MLBrandow,

i really appreciate your tips. it is very helpful. what you suggested is what i am thinking of.
FSU mailed me to tell they are now dealing with my application, when it is done, officer of math dept will send me official materials including I-20.

god bless me i can receive my visa next month. if everything is going well, i am supposed to be there before June 26. i'll be glad to see u in the fall, too.

enjoy your weekend!

 

[MZhu]

Sanket Patel,

i thought of what you said. i also consider another question that there may be a little late when one get PHD in fin.math. i mean after completing PHD degree, one could be around 27 or 28 years old, is that a little late for a financial engineer?

have a nice weekend

 

[Sanket Patel]

alexzhu,


Don't worry about age - age is definitely not an issue. Ultimately, what matters is the strength and quality of the job applicant. Take a look at this discussion.

 

[MZhu]

sanket patel,

i have saw the poster, yeah, it is not a problem.

 

[s.rohit]

MLBrandow,

Hi.. I would be joining MS in Financial Mathematics at FSU in Fall-2015.
As you might have been completed MS in Financial Mathematics from FSU as per the discussions in this page, could you please let me know about your review of this program at FSU.
I am international student. So, placement also matters me a lot.
Could you please help me out, it would be really helpful for me to decide.

Thank you very much