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is 710 in gmat good enough to get into a decent MFE Program?

Navdeep Garg

Navdeep Garg

Joined
8/23/14
Messages
11
Points
11
Hi All,

I gave my gmat exam this saturday and scored 710 - Quant 50 and Verbal 35.
I know this score doesn't sound as an exceptional one, but will it be possible for me to get into a good MFE Program (like Baruch MFE, UCB, MIT etc.) with a following profile:
1. CFA Level 3 candidate... exam in june 2015... successfully cleared first two levels in first attempt.
2. 2.5 years of WE... in a reputed Investment Bank as a software developer (JAVA).
3. Project done in same bank in R language... related to regression analysis of financial data to perform stress analysis of different counter-parties...
4. B.Tech in Electronics and Communication from a reputed college in India (National Institute of Technology, Kurukshetra) with CGPA of 9.23/10.
5. Had three mathematics subject in my undergraduate program. Scored A, A+ and A+ in each of them respectively.
6. Did my minor and major project on wireless communication in MATLAB.
7. Above 90 in mathematics in 10th class and 12th class.

Is my profile good enough to even apply for MFE?
Will gmat score of 710 hurt my application?
Can I still apply for fall 2015?
 
Looks fine to me, maybe a little light on mathematics - usually a calculus based probability class is required. You might want to attend the Baruch pre-MFE courses for that.
 
Thanks Ole Bueker and CasanovaJ for your replies..
My mathematics curriculum (all three combined together) on a higher level included:
1. Application of Differentiation/Integration - Taylor's series etc...
2. Partial Differentiation and its application
3. Vector Calculus, Matrices, Differential equations, partial differentiation equations, Laplace transform, Fourier series etc.
4. Difference equations, Linear Simultaneous equations, ODE etc.
5. Stats included method of Least Square and curve fitting, Correlation, Coefficient of correlation, Rank correlation, Regression and lines of Regression, Binomial distribution, Poisson distribution and Normal distribution with their properties and application.

I am interested in applying to Baruch MFE... is my profile good enough to match its selection criteria?
 
If you didn't take a full ODE course, you didn't take PDE at all, and you just took stats but not probability (let alone a probability course that was calculus-based), I think admission to a top MFE program could end up being a pretty uphill climb regardless of where you end up with the GMAT... You can certainly apply anyway and maybe get lucky because of the good work experience and strong programming background, but if it doesn't go well, I think it'll probably be because you applied without having the prereqs covered.
 
Thanks for a straight reply CasanovaJ... I know I may not end meeting all the criteria due to limitations in my undergraduate program... but won't my performance in academics especially in all mathematical courses I have taken give me a benefit of doubt?
Also I guess most of these Mfe programs have pre courses.. like Baruch-MFE one... won't that help in filling gaps that I have right now before start of the program...?
 
Navdeep Garg said:
Thanks for a straight reply CasanovaJ... I know I may not end meeting all the criteria due to limitations in my undergraduate program... but won't my performance in academics especially in all mathematical courses I have taken give me a benefit of doubt?
Also I guess most of these Mfe programs have pre courses.. like Baruch-MFE one... won't that help in filling gaps that I have right now before start of the program...?
Click to expand...

When it comes to the top programs, there tend to be enough applicants who aced all the prereqs that "only doing some of the prereqs, but doing them well" will still put you towards the bottom of the pile as far as academic credentials go. Another thing to consider, though, (and I really can't stress this enough), is that the prereqs are not merely just a formality... I'm currently in an MFE program, the curriculum is tough, and even if you think you're really smart (which based on your background description it sounds like you genuinely are), you should not just assume you'll be able to get through PhD-level stochastic calculus having never taken a basic probability course. I'm not prepared to say that you'd be completely ruled out in admissions because of your not having all the prereqs covered (because other than that you do seem pretty qualified with the work experience/programming skills and I've anecdotally heard of much crazier things happening in admissions), but if you were to do Baruch pre-MFE (or anything else that would augment/solidify your knowledge of undergraduate math prior to beginning the MFE), I think you'll probably thank yourself for it later.
 
Thanks again for being frank... I agree with all that you have said and yes I think I better start working on mathematics part... though I have taken probability course but yes I know this is a math loaded course and I better be prepared rather than embarrass myself afterwards... maybe I wont be able to join any pre mfe course as it requires me to attend them physically (visa and financial issues) but yes I believe I'll figure out some online courses...
But having said that.. I think i'll take my chances this time and apply... :)
 
Navdeep Garg said:
Thanks Ole Bueker and CasanovaJ for your replies..
My mathematics curriculum (all three combined together) on a higher level included:
1. Application of Differentiation/Integration - Taylor's series etc...
2. Partial Differentiation and its application
3. Vector Calculus, Matrices, Differential equations, partial differentiation equations, Laplace transform, Fourier series etc.
4. Difference equations, Linear Simultaneous equations, ODE etc.
5. Stats included method of Least Square and curve fitting, Correlation, Coefficient of correlation, Rank correlation, Regression and lines of Regression, Binomial distribution, Poisson distribution and Normal distribution with their properties and application.

I am interested in applying to Baruch MFE... is my profile good enough to match its selection criteria?
Click to expand...
Based on this curriculum and the rest of your profile, I think you should be able to get into any MFE program out there. The p rimary concern would now be the cost which is pretty high ($80k+) for MFE and there aren't many scholarships available.
 
Thanks for your reply Vinayak Maheswaran.
Yes fees would be a concern :unsure:
But at the moment I am more worried about applying and getting admission offer from a good MFE program. ;)
 
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