GMAT or GRE for the MFE ?

[Studer]

Hey there,

I just discovered this webpage, what an amazing place !

I am swiss and I will soon get a bachelor in BA from Vienna University of Business (top 3 in the german speaking world).
Now I really like finance and want to go to study in the US. (like a lot of people in Europe I guess)

I have a TOEFL (and CPE) and am studying to get the GMAT. But now I see that a couple of good US universities want another test, GRE, for the MFE, like Columbia, Standford, University of Chicago and NYU.

What do you guys do? Do you study for both GMAT and GRE? What would you do if you where me? I'd like to apply for NYU and Columbia and a couple of others but don't have the time to study for both GMAT and GRE

Thanks for the answers!!!!!!

S.

PS thanks again

 

[Andy Nguyen]

Do the GRE. It's accepted at most programs. Those don't will soon accept it. GRE is soon replacing GMAT even for MBA programs.

 

[patrickb]

I talked to the admissions folks at CMU, they accept both the GMAT and GRE. What other programs accept the GMAT? I wanted to take the manhattan GMAT program which is $1400 (not cheap for me). I looked at it this way... If I can't score high enough to get into a good MFE, I can use it for an MBA admissions. But I mean not really a good strategy if I can only use it to apply to CMU. How widespread is GRE acceptance? How much does the quant section differ?

Thanks!

 

[Andy Nguyen]

All MFE programs accept and prefer GRE. Many top MBA programs start to take GRE.

 

[latency]

you can use the gmat at Berkeley, CMU, UCLA and Princeton if not others. I am not sure you need a program to prepare for the gmat. it needs practice and you can do that by buying a few books and buying access to tests online.

 

[patrickb]

I wanted to do a program because I mean look at the top programs and the average scores, it seems all the programs are around the 95 Percentile range, I mean I feel like I am a smart kid and all but, I have to assume that all these GRE and GMAT candidates are college grads and the people getting into these programs are the TOP of those people. Not knowing my potential other than thinking back to the SAT which wasn't exactly off the charts (1190 old format, quant was higher than verbal), what are the odds I can even get a score that will get me into a good program... Can you study your way to a 790-800? Thus my thoughts are goto the best program and maximize my score and I can walk away knowing I didn't leave anything on the table. And hopefully just use that score to get myself into the best B-School I can. If I do well, I can execute my plan to take more math classes and build my qualifications.

Anyways I appreciate all your comments and helping me get my decision making together.

 

[iddqd]

Can you study your way to a 790-800?

If you can't get to the point where 790-800 is possible after a few hours of practice tests, don't bother.

 

[latency]

i can talk about the gmat, the gmat consists of quant and verbal and a writing component. the quant is at a high school level or less in terms of complexity and is more about time management. this i think can be obtained by practice. i guess you could simply take a free practice test online and see where you stand. this will enable you to make a decision on taking a program.

 

[zyz]

Sorry for necroing this thread, but have things changed since 2010? Which one is preferred currently? I was just thinking about registering for GMAT.

 

[Andy Nguyen]

If anything GRE is a more standard for MFE programs now. GMAT is for MBA.

 

[mhy]

My observation is that the GRE is preferred. However, I do know of people who got into top programs (CMU MSCF) with only GMAT.

 

[zyz]

Thank you.
Selected the first 9 Universities with respective programs from the Rankings list:

CMU MSCF (http://tepper.cmu.edu/prospective-students/masters/masters-in-computational-finance/admissions/faq):
While the MSCF program accepts either the GMAT or the GRE, if you have yet to take either, we recommend taking the GRE.

Columbia MFE (http://ieor.columbia.edu/standardized-tests):
In order to apply to the IEOR graduate programs, you MUST submit GRE scores. GRE scores are valid for five (5) years from the time which they were taken. We do not accept GMAT scores. The TOEFL or IELTS exam is required for all applicants who have received their undergraduate degree in a country where English is not the official spoken language (regardless of whether all or part of your education has been taught in English). TOEFL scores are valid for two (2) years.

Princeton MFin (http://www.princeton.edu/bcf/graduate/faq/index.xml#compscoresrequired):
You can submit your GMAT scores instead of GRE scores.

Baruch MFE (http://mfe.baruch.cuny.edu/faq/#7):
We prefer you take the GRE, if you did not take the GMAT just yet.

UC Berkeley (http://mfe.berkeley.edu/admissions/requirements.html):
We require either the GMAT or GRE.

NYU Mathematics in Finance (http://math.nyu.edu/financial_mathematics/content/05_prospectiveStudents/04.html):
GRE score (note: we do not accept GMAT for these programs of study)

Columbia Mathematics of Finance (http://www.math.columbia.edu/mafn/admissions/):
For 2014, the MAFN Program requires GRE (general) scores or GMAT scores. GRE scores are preferred. GRE subject test scores are not required.

MIT MFin (https://mitsloan.mit.edu/mfin/admissions/apply-here/instructions/):
GMAT or GRE score is required of all applicants and must be taken ...

Cornell University MEng (http://www.orie.cornell.edu/academics/master/apply.cfm):
GREs are required. We do not accept GMAT results.

GRE wins. Will jump in to one of those how to prep for GRE threads now ...

 

[Rajan Seth]

GRE scores over GMAT for MFE. I took GMAT (770) and aced it. Still I cannot apply to top 2 schools (NYU and Columbia MFE). They won't even see my scores for GMAT

And now I am too lazy to give GRE just for 2 schools. I hope to make a cut in one of the remaining courses.

I went for GMAT because it is more logical and analytical. I was bit uncomfortable remembering 1000s of word. But scoring 170 in GRE quant is easier than 51 in GMAT and quant scores is what matters I believe.

 

[Ankit Kumar Ankur]

Hello Rajan, although i am interacting with you for the first time, i can deeply emphasize with your situation as I m going thru the very same. I am also as MFE aspirant and gave GMAT in Dec to score 770, only to find out that the MFE world is not kind enough to us :'( I will love to know your insights on which college you have shortlisted to apply. So far, I have only applied in MIT Sloan M.Fin Program (Princeton deadline was already "dead" for me when i gave my GMAT). Regards, Ankit