From Low CGPA to My Dream School: Columbia MAFN, NYU MFE, and More

Hello QuantNet Community,

I wanted to share my journey to getting accepted into Columbia's MAFN program, NYU's MFE, NCSU's Mathematical Finance, and Nanyang Business School's MFE in Singapore. I'm still waiting on decisions from Columbia's MFE and GaTech's QCF. My hope is that this post helps those who feel limited by a low CGPA but are passionate about breaking into the world of quantitative finance.

My Biggest Drawback

Low CGPA: I had a CGPA of 2.98/4.00 in both my undergrad and grad studies.
Poor Math Grades: I had a B- in Mathematics 3 and a B+ in Mathematics 1.
Competing Against Strong Applicants: The average CGPA for admits to these programs is often well above 3.7.

Despite these challenges, I managed to turn things around through dedication, strategic decision-making, and relentless passion. Here's how I did it.

Steps I Took to Overcome a Low CGPA

1. Tackling Bad Academics Head-On

Every university I applied to allowed me to explain drawbacks in my application. I used this space to provide context on my grades, presenting facts rather than excuses.
I highlighted my upward GPA trend and strong performance in quantitative courses like Quantitative Techniques and Numerical Methods.
I had active involvement in an NGO when I was taking Mathes 1 and 3, which I mentioned to explain my lower grades and had put in my resume (I have a Internship letter to prove it).
I recommend reading this guide on crafting strong statements: Diversity Statement 101.

2. Showcasing Relevant Projects and Experience

I pursued Finance and Machine Learning projects during university and completed a Data Science internship. Maintaining a GitHub account is helpful.

3. Crafting a Strong SOP and Personal Statement

I was extremely clear about my career goals in quantitative finance. My SOP demonstrated a thorough understanding of the industry, including roles and responsibilities.
I connected my work experience to my academic goals, emphasizing how my role in Exotics Structuring aligned with the curriculum and how the program will fill a knowledge gap for my future goals.
Remember, you are crafting a story. Research on how to write these effectively.
Research your program, see its vision and mission statement, where it is heading. Attend Info Sessions and TAKE NOTES!! Some unis also give Application Fee Waivers here.
Craft your story around these programs (No way you should use the same things everywhere). Explain how you will be a great Campus Ambassador if they have it, things like that.

4. Leveraging Work Experience

Have a good friend circle or network strong enough to get into an IB. They do hire people like us in non-quant roles through this magic called referrals.
I got into a Business Analytics role at a top London IB. Knowing Python or C++ well and proper networking can land you places once inside.
After building a strong reputation, I internally transitioned to Exotics Structuring. Internal mobility is often an effective route to quant roles.
Now I have a relevant workex that every University values way more than that CGPA from the days of yore.

6. Pre-MFE Courses for Academic Redemption

I enrolled in 3 Pre-MFE courses from Baruch and earned Distinction in 2 of them. These courses had rigorous exams, providing verifiable proof of my academic growth.
Other universities like UChicago and Berkeley offer similar programs, but only Baruch had an exam so I didn’t have a letter of completion but an achievement of Distinction.
You can even try UIUC which is the only University that gives transcripts in their online course (the above 3 don’t). Transcripts hold high value.

6. GRE

For some it might be irrelevant, but for us, it is another armour. Score no less than 168 in Quant.
If it's less, retake. These programs are highly competitive so getting at least 168 should be your aim.
Some Unis might have waived it off but most haven’t.

7. Thoughtful Letters of Recommendation (LORs)

Despite my poor math grades, I requested a recommendation from my Mathematics professor who appreciated my curiosity and performance in internal assessments. And 1 from my Computer professor in whose labs I always excelled.
I maintained a relationship with my Maths professor post-graduation, even returning as a guest lecturer on getting a job in the industry. This added credibility to my profile as a future alumnus.
Have them talk about your communication skills in Presentations or your leadership skills in clubs or projects along with rambling about your skills in their subject. This gives you more space in SOP and PS to talk about your other achievements.

8. Research and Networking

I heavily relied on resources like QuantNet, Reddit, and even Chinese websites (via Google Translate FTW) for insights into interviews and application strategies.
Networking helped me land referrals, talking to experienced members on Quantnet and their valuable guidance.
Again, research your program ALWAYS for SOP and PS.

Final Thoughts

Pursuing a top MFE program with a low CGPA is challenging but not impossible.
Focus on presenting a compelling story of growth and determination.
Be ready to invest time, money, and energy into acquiring relevant experience and certifications.
Networking, continuous learning, and persistence are key.

If you’re genuinely passionate about quantitative finance, don’t let your GPA define you. I took Pre MFE courses at night. My 2 years at the IB initially were at odd hours too (6 pm to 5 am). That is how I broke into IB. So it does take sacrifices. Do ask yourself if you have it in you and then don’t look back.

Feel free to ask questions in the comments. I’m more than happy to help others on their journey!

Good luck to all!

P.S. Thank you to QuantNet and Andy for creating this incredible platform. Your resources and community have been invaluable in my journey!
Special mention to @MikeLawrence who always responded to me and @MariosMGE who I messaged back in 2020 on how he got into Columbia with a low CGPA I spotted in tracker and he wrote an essay to help me