COMPARE Master Programs Comparison: Which quant program to choose?

@benlhni
Congrats on getting into these programs. It's been a very competitive year for master applicants.
Please go ahead and add your application timelines to the Tracker. Your contribution will be much appreciated by everyone else.

Somebody asked me about GaTech vs NCSU and I want to point out the location uniqueness of those.
I mentioned several times before that NCSU has a location disadvantage of being in a small financial center but they turn them into an advantage by partnering with regional banks and local financial employers. They don't have many quant master programs in NC competing against them. They have a lot of graduates working in risk management which is a very stable segment. Cost of living in Charlotte area is lower compared to other big city.

For GaTech graduates, Chicago is their closest financial center so they will have the Chicago graduates and many other big cities graduates to compete against.
Picking a program is finding out a match of what you want and what they offer. No program is the same if you do enough research.
 
Regarding the comparison between Georgia Tech QCF and NYU Tandon MFE, I am more inclined toward exploring the roles that blend AI and Finance rather than purely finance-focused positions. I would like to understand:
  1. Are there sufficient job opportunities in this specific domain (AI + Finance)?
  2. Based on my experience as a Quant Researcher at an HFT firm, I find the work to be highly time-intensive. While I am strongly inclined toward finance, I want to explore what other roles would be available after graduating from the QCF program. Specifically:
    • Would the time demands be as intense as in a Quant Researcher role at an HFT, or would certain roles offer a more balanced workload?
    • In general, what career paths are available post-QCF, considering I currently have only a broad understanding of the options?
 
Andy Nguyen said:
For GaTech graduates, Chicago is their closest financial center so they will have the Chicago graduates and many other big cities graduates to compete against.
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Hey Andy! Assuming GaTech has to play second fiddle to UChicago in chicago which is the closest finance center for them, how come they have such amazing employment stats? Is there a chance that they maybe haven't placed everyone in quant roles?
 
Leggoo MFE said:
Hey Andy! Assuming GaTech has to play second fiddle to UChicago in chicago which is the closest finance center for them, how come they have such amazing employment stats? Is there a chance that they maybe haven't placed everyone in quant roles?
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Both GaTech and Chicago have very active career services and support staff from my interaction. Them having good employment stats highlight the opportunities they provide to their graduates.
I couldn't say for certain whether every role is a quant roles since they don't release very detailed report. This is where networking with current and recent graduates from both programs to get insights is critical to ensure you make the right decision.

I only can say that except a handful of programs where every graduate is accounted for, most programs will report based on the alumni that responded to their survey. If a program has 100 graduates and only 50 graduates responded with 40 jobs, the program may report a 40/50 = 80% placement rate.
This means there 50 graduates that are unaccounted for since their data response rate is only 50/100 = 50%. It may be
the case that the missing 50 graduates all have good job but conventional wisdom tells us that people with job are more likely to respond to the survey than those that do not.
To avoid this issue, we require all programs to have at a minimum of 65% data response to be ranked on QuantNet rankings. This minimum requirement has been raised over the years to make sure our data quality is getting better.
That said, to really understand the real picture, you need to scrutinize the employment reports.
If you see something you are not sure, ask the programs directly. Do not assume anything. Verify all the information.
 
phk said:
Hi, @Andy Nguyen , I'm facing some difficulties in updating the tracker ( it's showing nationality not selected, no matter how different I try )

Regarding the comparison between Georgia Tech QCF and NYU Tandon MFE, I am more inclined toward exploring the roles that blend AI and Finance rather than purely finance-focused positions. I would like to understand:
  1. Are there sufficient job opportunities in this specific domain (AI + Finance)?
  2. Based on my experience as a Quant Researcher at an HFT firm, I find the work to be highly time-intensive. While I am strongly inclined toward finance, I want to explore what other roles would be available after graduating from the QCF program. Specifically:
    • Would the time demands be as intense as in a Quant Researcher role at an HFT, or would certain roles offer a more balanced workload?
    • In general, what career paths are available post-QCF, considering I currently have only a broad understanding of the options?
Click to expand...
Hi, @Andy Nguyen , you have already answered the queries I had partly, can you please give advice on the above questions I had, thanks
 
As far as AI in Finance goes, I know that GaTech just launched a center for finance and technology and Dr. Chava, the program director, will lead the center. They seem to put a lot of resources into this AI. In one of the recent virtual workshops, the emphasis the AI focus on their upcoming curriculum update.
I reach out to one of the program's staff and she told me.
QCF students are an integral part of the Center for Finance and Technology. Through the center, they participate in experiential learning opportunities, fund management, workshops, treks and other opportunities that the Center is creating.

Through the Financial Services Innovation Lab, QCF students participate in AI + Finance research along with the many ML PhD students working in the Lab.
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I don't know what kind of future jobs AI will play in finance. It may be exciting and lucrative. It may be overhyped like blockchain. Nobody knows.
It would be good to keep current with the latest trends. Just make sure your skills are sharp, especially your C++ and Python coding ability.
 
Hi everyone! I currently have three offers, Berkeley MFE, Columbia MAFN and NYU Courant Math Fin, and the deadlines to make deposits are really close. I have 4 years of work experience at a commercial bank in Asia as a management trainee previously and now a risk specialist (not quant). My goal is to find a quant/risk role in NYC. I am worried about the comments about Berkeley recently and I think a 1-year program will significantly lower the chances of getting a summer internship at a bank. Also, I think many graduates of the Columbia MAFN program get jobs outside of the US in regions such as HK. So this is really a difficult situation for me. Can you give me some advice? What are your reasons? Many thanks!
 
Iris T said:
Hi everyone! I currently have three offers, Berkeley MFE, Columbia MAFN and NYU Courant Math Fin, and the deadlines to make deposits are really close. I have 4 years of work experience at a commercial bank in Asia as a management trainee previously and now a risk specialist (not quant). My goal is to find a quant/risk role in NYC. I am worried about the comments about Berkeley recently and I think a 1-year program will significantly lower the chances of getting a summer internship at a bank. Also, I think many graduates of the Columbia MAFN program get jobs outside of the US in regions such as HK. So this is really a difficult situation for me. Can you give me some advice? What are your reasons? Many thanks!
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Congrats on your admits. Many applicants wish they can be in your position.
We’d greatly appreciate it if you could add your application timelines to the Tracker! Your data helps us generate valuable insights and tools that benefit the entire QuantNet community. Thank you for your support!

The current job market is really tough so many MFE programs will find it challenging to place graduates into relevant high paying jobs in the US. Getting a visa sponsorship in the political climate is not what it used to be in the past.
Risk jobs are not as competitive as QT/QR/QD jobs. It's a good work life balance job and I know many people are happy with it.
 
Andy Nguyen said:
Congrats on your admits. Many applicants wish they can be in your position.
We’d greatly appreciate it if you could add your application timelines to the Tracker! Your data helps us generate valuable insights and tools that benefit the entire QuantNet community. Thank you for your support!

The current job market is really tough so many MFE programs will find it challenging to place graduates into relevant high paying jobs in the US. Getting a visa sponsorship in the political climate is not what it used to be in the past.
Risk jobs are not as competitive as QT/QR/QD jobs. It's a good work life balance job and I know many people are happy with it.
Click to expand...
Sure, Andy. I have updated the tracker for these programs.

I think I'll probably decline the offer from UCB MFE. I'm concerned about the timeline as I think getting a summer internship at a bank is pretty important for me, but it just feels not so manageable when I'm still working full-time at my current company while taking all those preparation courses required by the program. I think this program will be better for someone fully capable of finding a summer internship themselves before enrolling.

I'm leaning toward Columbia MAFN instead of NYU Courant. I guess too many rigorous math courses will just take up too much time for job search, and I learned from previous Columbia MAFN students that most courses took place in the evening and I think this will allow for more time for interviews during the day.
 
Iris T said:
Sure, Andy. I have updated the tracker for these programs.

I think I'll probably decline the offer from UCB MFE. I'm concerned about the timeline as I think getting a summer internship at a bank is pretty important for me, but it just feels not so manageable when I'm still working full-time at my current company while taking all those preparation courses required by the program. I think this program will be better for someone fully capable of finding a summer internship themselves before enrolling.

I'm leaning toward Columbia MAFN instead of NYU Courant. I guess too many rigorous math courses will just take up too much time for job search, and I learned from previous Columbia MAFN students that most courses took place in the evening and I think this will allow for more time for interviews during the day.
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I am a recent graduate from the MAFN and can confirm the program has been vastly improving in the last few years, thanks mainly to the work done by Izabela and the other members of the career service team. The new program director seems pretty ambitious on getting the overall quality even better. Feel free to DM me if you'd like to chat.
 
Hi everyone,

I received an admit from University of Chicago MSFM (20K scholarship) and Cornell MFE (10k scholarship). Currently I have a background in modelling/risk side and my target roles post MFE is QR/structuring. Any inputs regarding the programs would be helpful:)

My insights: The alumni/current students were supportive of their programs, respectively. Career services is also decent in both programs. UoC might be slightly focussed on theory and Cornell slightly towards Machine learning or application side. Chicago is more colder and unsafe compared to Ithaca but alumni mentioned it is manageable. Cornell Ithaca has a beautiful campus and the third Sem will be in New York. Chicago has 4 quarters compared to Cornell which has 3 sems, making Chicago relatively intensive.
 
charishma said:
Hi everyone,

I received an admit from University of Chicago MSFM (20K scholarship) and Cornell MFE (10k scholarship). Currently I have a background in modelling/risk side and my target roles post MFE is QR/structuring. Any inputs regarding the programs would be helpful:)

My insights: The alumni/current students were supportive of their programs, respectively. Career services is also decent in both programs. UoC might be slightly focussed on theory and Cornell slightly towards Machine learning or application side. Chicago is more colder and unsafe compared to Ithaca but alumni mentioned it is manageable. Cornell Ithaca has a beautiful campus and the third Sem will be in New York. Chicago has 4 quarters compared to Cornell which has 3 sems, making Chicago relatively intensive.
Click to expand...
I'm in a quite similar situation as yours.
 

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