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How to prepare for MFE from a non-math Bachelor?

DmitryK

DmitryK

Joined
12/19/14
Messages
24
Points
13
Hi,

Please help finding a way to prepare myself for enrolling into MFE after a non-math Bachelor.

About me: Finance Bachelor from a Latvian university having too few and week math/stat courses. I have 8 years of experience in risk management in banking.
Problem: insufficient knowledge and credit hours of math/stat.
Idea: acquire necessary knowledge and credit hours through distance learning in a reputable university. But I don't want spending 4 years (again) for a full bachelor degree. Ideally - find a university offering separate courses, where I can pick only those that are necessary.

Please help:
1. Do you know a good university offering distance learning and credit hours (units) for courses necessary for enrolling into MFE (probably - calculus, linear algebra, probability, ...)?
2. What are those cources necessary to become a successful candidate for a MFE program?

Thank you very much in advance!
Dmitrijs
 
Hi,

Why don't you take classes at your local community college to fulfill the calculus requirements, you can also use course era and edx for prep classes as well, they provide numerous stats/probability classes as well as calc, i'm aware they even have fin engineering courses now. I'm doing this and it is working out fine, the only challenge is if you decide to do course era or ddx, you have to be really motivated. I hit the books right after I get home from work every night, it's a matter of how bad do you want it?
 
Thank you Evan. I want it really bad :)

Online classes is the only option for me as I have to travel from time to time.

I spend much time in MOOCs. But are you sure coursera & edX are eligible for MFE applications? I understand that official credit hours are necessary. In any case, I assume MFE committees prefer applications with courses with credits rather than those without. So it's important to increase chances for being enrolled.
 
Sorry, I didn't catch that last part, you're are correct. Coursera and edx do not provide credit, you would have to take online classes at a community college for that or take them online with your alma mater. I was just mentioning courser and edx because you mentioned that you're a non-math bachelors. I'm doing the calc requirements on coursera and will be doing them at a CC as well just to make sure I'm proficient and prepared.

I hope that helps!
 
I forgot to mention.

Do you have a computing background? If not, it would make you stand out if you acquired a certificate in C++ or another practical language. Also studying and passing the CFA level one seems to be helpful as well, I keep seeing that a lot of people that get accepted have at least the Level 1 CFA.
 
Thank, Evan!
I have only basic programming experience, that's definately a place to improve. What would yo recommend and in which sequence? R, Python, VBA, SQL, C++ or something else?

I have passed 3 of 4 exams for a PRM certificate (PRMIA's Professional Risk Manager). CFA will again require lots of time, so I want to focus on preparing for MFE program first. That's a priority.
 
I don't want to give you any advice on the programming languages because it seems I'm in the same boat as you, but I will be learning C++ and Python, C++ seems to be the most prevalent in programming so it seems practical to learn, but I was told it can be easier to learn if I was to learn python first, which is also used in many MFE programs.

If you have PRM you should be alright. I totally agree, MFE is definitely priority!
 
I will pay more attention to programming. Thanks again, Evan.

Other members, please also share your knowledge about
  • distance learning of math/stat with credit hours
  • a list of courses necessary for being a successful MFE candidate
 
Thomas Edison State College has quite a few math and programming classes online. They are reasonably priced as well.
 
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