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Getting started

Hi Friends,<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p>
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I have been tracking the network for some time now. Finally joined today and making my maiden post.<o:p></o:p>
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I am a commerce graduate and MS Finance (distance learning). I have been working in primary data research on Variable Annuities for 4.5 years.<o:p></o:p>
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As far as computer exposure goes - working experience in SQL and taking courses in C, C++. Looking for guidance in VB (Excel Macros) and pre-requisite mathematics exposure.<o:p></o:p>
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GMAT 680 (Q 50/V31)<o:p></o:p>
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I am very serious about career in number crunching but not sure about Financial Engineering or Phd in quantitative/financial economics and side by side bit afraid of my profile if it is a disadvantage or not!!<o:p></o:p>
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Please help me out MFE vs Phd and how to get start as I want to get in latest by fall 2011.<o:p></o:p>
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Thanks.
 
Your deadline of starting by fall 2011 doesn't leave you much time. Most PhD programs I have looked at have deadlines in the fall (nov/dec), so for example to start a PhD in fall 2011 the deadline would be fall 2010. This doesn't give you much time to cover pre-reqs.

The MFE vs PhD debate has been discussed in other threads that I recommend you search for and read. But to sum things up, pursing a PhD is a big, personal decision and doing it solely for a specific job is not a great idea.

I don't know exactly what your study plans are but self-study is a variable strategy for a MFE but probably less so for a PhD program.

I can't say this for certain but getting a PhD in quantitative finance may not be that good an idea. Industry usually seems to want PhDs in hard sciences, i.e. engineering, mathematics, computer science, physics, etc.

What universities do you want to go to? Because I think your GMAT is too low for a top school and you may also want to take the GRE.
 

Joy Pathak

Swaptionz
Connor gives good advice.

Your GMAT is too low for a top PhD Finance program definitely. PhD Finance is THE MOST competitive program in THE WORLD. The acceptance rate at the top 25 school is around 1-2% mostly.

You need to give more information about what you want to do or achieve out of a program. The PhD vs MFE has been debated quite a bit so you can find threads on that.
 
Thanks Connor and Joy.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p>
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I did check out all options - CMU, UCB, Columbia, Chicago, Cornell, NYU, Sloan, Baruch, and Stanford.<o:p></o:p>
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It is hard to differentiate between the programs being offered. Moreover, What I could comprehend is the industry acceptance is more or less the same.<o:p></o:p>
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As far as my career aspiration goes I want to work on numbers but I'll be happier doing research and building models on them. Therefore, I find myself bit more inclined towards a Phd (Trying to evaluate 4 years to 12-18 months program).<o:p></o:p>
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You are very right about my GMAT. I plan to take it up again by Aug-Sept 2010. And if possible at the same time GRE as well.<o:p></o:p>
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Will check out on other threads for MFE vs Phd. But could you please help me on what other preparation shall I begin to get in?<o:p></o:p>
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I mean what prior work on quant do the schools look for?<o:p></o:p>
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Thanks.
 
One thing you could do was I believe you are able to do a MFE during your PhD (probably towards the end).

Preparation-wise I would focus on math skills. To be competitive for a top PhD program you really need perfect quant scores on the GMAT and GRE. Also, taking a few math courses would help (or if this isn't an option GRE subject test mathematics).

Since you are already taking courses for C++ I think you are good there. If you wanted to be strong in the programming space I would recommend learning maybe R or even Fortran (I only mention fortran because the Stanford phd in finance specifically mentions it).

Get good references lined up
 
Hi,
First, forgive me if I am in the wrong place. As this post was all about "Getting Started", I wanted to ask about how do I get started for my program, which is Financial Engineering and Risk Analytics at Lally School of Management, Rensselaer Polytechnic Institute for Fall 2010. I have 4-5 months before my program starts. I want to give a head start so that it wouldn't be all jargon for me.

I come from an Engineering background (mechanical) with no former computer science knowledge. For starters, where do I begin with the programming part? C? C++? or where?

Also, as I come from an Engineering background, I all the well know pretty less about Finance, although I am preparing for CFA Level I. Do you guys think that this would suffice for me to understand what would be taught in Fall semester?

I would also like to have a quick brush up with my introductory calculus, statistics and probability so that I would be on-par with the others in the class? Is there any good text for Calculus, which starts off with basics and then builds on its complexity? If any, kindly let me know of one.

Thank you, and I really hope you guys reply. I again apologize if I am in the wrong place.


Bharadwaj
 
kbharadwaj: C++, read Hull's book on derivatives, there is a read listing somewhere here...

The financial engineering option looks interesting and of course it's Cambridge (Oxford also has a degree in financial mathematics), but the real question is whether you can get in.

MPhil programs are to my knowledge only in the UK (not US) and are designed as research degrees to prepare you for pursing a PhD.

Since you mentioned the US before, a MPhil is not what I meant. What I meant was that many MFE programs allow current PhD students into the program, so for example while you are working on your PhD in finance (which doesn't necessarily have to be heavy in math or programming) you also enroll in that school's MFE program.

To strengthen your application you could always do a MFE or masters in cs/math part time...
 
Connor: You are being a great help.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p>
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You are right about my wish being US. As I am planning to get into Phd latest by fall 2011. I was looking at these courses to start (in fall 2010 or spring 2011) as value addition to profile to get into top notches<o:p></o:p>
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kbharadwaj: You are at the right place and may check out other threads as well. This network is fantastic.
 
Additional qualifications?

I am currently a bachelors student in Electronics engineering, with no experience whatsoever in finance. I am planning to apply for M.S.F.E. My question is, should I apply for fall'11 right after I graduate or should I take a year off to get additional qualifications like CFA? I guess its obvious that the additional qualifications help, but am I at a disadvantage if I apply directly after graduation? I would like to add that I have a cgpa of 9.5 and a GRE score of 1550 (V750/Q800). What chance do I have at an ivy league or any other tier I university with and without the additional certifications?
 
CFA isn't necessarily for admission and doesn't add much value as a quant. Many take it as a way to get some basic finance knowledge and to show an interest in finance.

No harm in applying now, you either get in now or not in which case you move on or strengthen your application/cv.

If you have no knowledge of finance, do some self-study. This is acceptable for MFE admissions and they would rather see you learning on your own then knowing nothing.

How is your programming? namely C++
 
I have taken all the required courses (the math and programming courses) that most schools ask for since I am an engineering student. Its the finance part that I am worried about. Like you said, I ll probably apply next fall and if I don't get through any good programs, I will take a year off to get those certificate courses:)
 

Sanket Patel

i do stuff
tradericf said:
Hi

I want to pursue a masters in finance... point is dat i dunno where do i stand (by dat i mean which all schools should i apply to)....I am from India.

A brief :
Candidate for CFA L3
FRM
NCMP (NSE CERTIFIED MARKET PROFESSIONAL LEVEL-4 (HIGHEST LEVEL)
CERA (Certified entrepreneurial risk analyst) from Society of Actuaries USA
GMAT 770

Work-ex of 3 yrs till date as a Derivatives Trader in a prop-house...trading STIR , Fixed Income and Equity Derivatives.

I have done Computer Engineering from a Top-10 school in India but have a very low %age.... 56%....

For starters, you many want re-write your post but this time using proper English. Also, avoid the the open-ended, "I'm too lazy to research to things on my own" type of questions.
 

Sanket Patel

i do stuff
tradericf said:
Well ... I don't think there is nethng wrong with the english i wrote and even if theres 1...U got the idea across....and I guess You are not a moderator ...So please if you
can't help some1, its better to keep your mouth shut....


And yes I am very new to this community...and I thot dis would be the place to start my research...dats y open ended questions...

I don't want to speak for everyone in this community, but I have an inkling that quite a few of the QN members will find likely wish they could get back 30 seconds they wasted reading your post.

And you're absolutely right, I'm not the moderator - that would be Andy. Humor me and ask Andy what he thinks of your post.
 
I don't want to speak for everyone in this community, but I have an inkling that quite a few of the QN members will find likely wish they could get back 30 seconds they wasted reading your post.

And you're absolutely right, I'm not the moderator - that would be Andy. Humor me and ask Andy what he thinks of your post.


Seconded. And I'm only adding this cause I need more than fifteen characters.
 
tradericf said:
Well ... I don't think there is nethng wrong with the english i wrote and even if theres 1...U got the idea across....and I guess You are not a moderator ...So please if you
can't help some1, its better to keep your mouth shut.....
This kind of language is not particularly appreciated here.
We don't have moderators since our members are self-moderated as it has always been.
And yes I am very new to this community...and I thot dis would be the place to start my research...dats y open ended questions...
You would have more response if you rephrase your question and use standard English. And start your own thread instead of hijack someone else's.
 
This kind of language is not particularly appreciated here.
We don't have moderators since our members are self-moderated as it has always been.
You would have more response if you rephrase your question and use standard English. And start your own thread instead of hijack someone else's.
Thanks for the advice... I m actualy still fazed by y u ppl nt finding my english standard.Is the grammar wrong?...This is the english i was taught since my childhood....and yes apologies if any1 got offended by my language.....I jus saw this website and this was my first post here....May be i dunno the etiquettes of posting here...neways thanks every1 for the advice :)..
 
You're probably confused between standard English and shothand text-types (dat, ppl,u,dunno). The latter is probably OK to use elsewhere, not on a professional targeted sites like this one.

When in doubt, just be safe and use the Queen's language ;)

You may also want to read through this thread. Many people have profiles similar to yours.
https://www.quantnet.com/threads/mfe-program-profile-evaluation-master-thread.202/
 
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