COMPARE Master Programs Comparison: Which quant program to choose?
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Sanket Patel
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@bayaba
I don't think it's a matter of popularity. Quantnet is concerned primarily with the NYC community thus the inhabitants of this forum are familiar with NYC and surrounding schools. But since I'll be attending BU in the fall, I'll share, for those interested, my experience and opinion of the program.
I don't think it's a matter of popularity. Quantnet is concerned primarily with the NYC community thus the inhabitants of this forum are familiar with NYC and surrounding schools. But since I'll be attending BU in the fall, I'll share, for those interested, my experience and opinion of the program.
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poly students and NYU
let me remind you frankliao that the borad of the engineering school will have as many poly as NYU delegates but year after year one poly will be replaced by existing NYU professionals. so after few years say 10 or so, the borad will have no poly employees.
But, it wont even take 10 years to come at a decision (regarding the poly MFE) because after few years the majority of the borad members of the engineering school will be NYU employees, so they may even scratch the program.
another point
do not assume that poly students will be allowed to take up courses from NYU.
See, the best resource of a program is its courses (and the teachers ......) so if poly students are allowed to take up courses from NYU dont u think it is a rip off for the deserved NYU students. Although nothing has beed finalised, but the likely situation is poly MFE will have no association with NYU. Except the fact that they will get NYU on their degree. Polytechnic Institute of NYU.
I had emailed the director of the program, and he said that NOTHING HAS BEEN FINALISED please keep checking the website for new updates.
Also, it was mentioned some time ago (2 months ago i think) that in MAY 2008 there will be a complete overhaul of the website of Polytechnic and that polytechnic university will no longer exist (it will be polytechnic institute of NYU).
The I 20 you received has Polytechnic Institute written all over it, does it have any mention of NYU in the whole packet ... no.
THE ONLY GOOD THING:
that possibly could come out of this for the poly students is:
the merger of career services. If the NYU career services take up the responsibility of placing and getting internships for poly students, that will raise the spirits for sure. But then again there are two points, one they might actually say that we do not take up the responsibility, and 2 they may take up but as it is no career services gives gurantee, so they may say we tried placing poly students but couldnt. or something like that.
Regarding course taking:
this summer there was a group of 8 students (i think) attending a pilot program and taking up core and elective courses from NYU they will finish this fall and then the committee will take a decision.
please comment on various points mentioned above.
Thanks and Regards
Ashish Tare
let me remind you frankliao that the borad of the engineering school will have as many poly as NYU delegates but year after year one poly will be replaced by existing NYU professionals. so after few years say 10 or so, the borad will have no poly employees.
But, it wont even take 10 years to come at a decision (regarding the poly MFE) because after few years the majority of the borad members of the engineering school will be NYU employees, so they may even scratch the program.
another point
do not assume that poly students will be allowed to take up courses from NYU.
See, the best resource of a program is its courses (and the teachers ......) so if poly students are allowed to take up courses from NYU dont u think it is a rip off for the deserved NYU students. Although nothing has beed finalised, but the likely situation is poly MFE will have no association with NYU. Except the fact that they will get NYU on their degree. Polytechnic Institute of NYU.
I had emailed the director of the program, and he said that NOTHING HAS BEEN FINALISED please keep checking the website for new updates.
Also, it was mentioned some time ago (2 months ago i think) that in MAY 2008 there will be a complete overhaul of the website of Polytechnic and that polytechnic university will no longer exist (it will be polytechnic institute of NYU).
The I 20 you received has Polytechnic Institute written all over it, does it have any mention of NYU in the whole packet ... no.
THE ONLY GOOD THING:
that possibly could come out of this for the poly students is:
the merger of career services. If the NYU career services take up the responsibility of placing and getting internships for poly students, that will raise the spirits for sure. But then again there are two points, one they might actually say that we do not take up the responsibility, and 2 they may take up but as it is no career services gives gurantee, so they may say we tried placing poly students but couldnt. or something like that.
Regarding course taking:
this summer there was a group of 8 students (i think) attending a pilot program and taking up core and elective courses from NYU they will finish this fall and then the committee will take a decision.
please comment on various points mentioned above.
Thanks and Regards
Ashish Tare
Hey, can you give me some info about yourself (GPA, GRE, etc), if you don't mind? BU is on my list of schools to apply for and would like to know the competitiveness of their program. Thanks.
I am a Rutgers undergrad right now and it incorrect to say they have two programs competing. The program they call MSQF (Masters of Science in Quantitative Finance) is actually a regular Masters in Finance degree which is a more business oriented degree. Their MS in Mathematical Finance is the program that pertains to Quants.
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Well the MQF program curriculum (and details used to promote it) suggests that it is actually tailored towards a quant career, however it still retains the strong business courses hence its more like in btw business analyst/quant analyst program.
While the MSMF is gear solely towards the quant market and the program director ( Paul Feehan) seems to be making quite an effort in gaining reputation for the MSMF. They'd be hostin the 2nd SIAM conference on fin math&engr in nov. see conference website in...
SIAM: SIAM Conference on Financial Mathematics & Engineering (FM08)
Columbia MSFE vs Columbia MSOR - Methods in Finance
MSFE
M.S. Financial Engineering
MS in Operations Research - Methods in Finance
CVN - Columbia Video Network
The Columbia MSFE program is the formal FE prgoram at Columbia and the CVN program (Columbia Video Network) is pretty much the same program, the electives can be chosen so that it equals the MSFE with about two courses in difference. I live in CT and I would really enjoy the flexibilty the CVN offers, since I can attend class whenever I wish or I can just tune into the lectures which are posted after each class session.
What do the members here feel about the differences in the program. The only thing I really see is the designation of the degree at the end, MSFE vs MSOR - Methods in Finance.
Do you feel employers may view this degree in a different light than the MSFE degree ?
MSFE
M.S. Financial Engineering
MS in Operations Research - Methods in Finance
CVN - Columbia Video Network
The Columbia MSFE program is the formal FE prgoram at Columbia and the CVN program (Columbia Video Network) is pretty much the same program, the electives can be chosen so that it equals the MSFE with about two courses in difference. I live in CT and I would really enjoy the flexibilty the CVN offers, since I can attend class whenever I wish or I can just tune into the lectures which are posted after each class session.
What do the members here feel about the differences in the program. The only thing I really see is the designation of the degree at the end, MSFE vs MSOR - Methods in Finance.
Do you feel employers may view this degree in a different light than the MSFE degree ?
doug reich
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There was a big thread on the benefits of the programs recently: some truth about the Columbia OR - QuantNetwork - Financial Engineering Forum
That might help.
That might help.
Eugene Krel
sunmulA
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There are several threads on this topic. Please employ the search feature.
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My Rutgers Quant School Experience
http://www.advancedtrading.com/algorithms/showArticle.jhtml?articleID=211200651&cid=quant-center
[imga=left]http://i.cmpnet.com/advancedtrading/l/Alvin_Huang_l.jpg[/imga]
By Alvin Huang
October 15, 2008
Alvin Huang is a student in the Rutgers University Master of Science in Mathematics with Option in Mathematical Finance (M.S.M.F.) program. He attended full time from September 2007 to May 2008 and now has two classes left to graduate. He is currently working full time while finishing his degree and expects to graduate in May 2009. Here Huang shares his experiences as a quant student with Advanced Trading magazine.
It's 11:30 pm on a Saturday night and I'm sitting in the Busch Campus Center, engaged in a puzzled discussion with three classmates over Dr. Halperin's formulation of the premium leg of a credit default swap. To my left is a first year MSMF student who has been here for over 12 hours; she sits back and lets out a accomplished sigh, having just finished the second problem of her Numerical Analysis homework assignment. "Two problems in 12 hours," she said. Not bad, I thought to myself. Wait until she takes Computational Finance next semester.
That number easily goes above 30. Back to work. I stare down at my notes with a resigned look, knowing that the next 36 hours will be spent studying for my Credit Derivatives midterm. Quant school experience? This is it. Wake up at 6 a.m. Gym at 7. Be at the graduate student lounge in the Hill Center by 8:30 a.m. and do work until midnight. Then on certain days, there are classes, which serve as a nice break to the routine. Do this 7 days a week, 14 weeks per semester, and you get the idea.
Does all this hard work eventually pay off?
As with any program, I believe that you get out of the program what you put into it. For me, this was exactly what I wanted. The Rutgers MSMF program is an intense 18-month program, immersing the students in mathematics, statistics, programming, and finance. Having spent the last 7 years as a proprietary trader, I was looking to broaden my knowledge of the markets from a quantitative aspect. I deliberately selected Rutgers specifically for its heavy focus in mathematics.
The MSMF program is unique in that the majority of the courses were taught without a bias towards financial applications. The professors are experts in their respective fields, whether it's partial differential equations, operations research, time series, etc., and they expose us to a plethora of problems, both theoretical and practical. This approach teaches us how to think. It forces us to understand how to formulate a problem, know where to look for the solution, and once referenced, be able to generate an approximation. It stresses the derivation of numerous models.
Even on the exams, the professors deliberately give multi-step questions (often derivations), walking us through the problem, and testing us on our fundamentals that are necessary to succeed in the financial industry.
Having returned to the financial industry in August, I was able to apply many concepts that I learned from the Rutgers University MSMF program to help my firm evaluate and manage risk, allocate capital, and generate profits. This is not to say that these are formulas written down from my class notes. Nor are these strategies listed in any text book we used. I had to read additional books and papers before formulating my own ideas and employing these strategies.
It is the mathematical foundation that the Rutgers MSMF program created for me that allowed me to understand these technical documents as well as have the ability to implement such methods.
Having said that, it is now 2:45 a.m. I have to get up in 3 hours for an entire day of studying Credit Derivatives. So I will end here. Oh, and one last thingthe demanding schedule that I've outlined regarding the MSMF program here parallels that of my current job: over 90 hours per week.
So, did the Rutgers MSMF program prepare me for a life as a quant? Yeah, I'd say so.
http://www.advancedtrading.com/algorithms/showArticle.jhtml?articleID=211200651&cid=quant-center
[imga=left]http://i.cmpnet.com/advancedtrading/l/Alvin_Huang_l.jpg[/imga]
By Alvin Huang
October 15, 2008
Alvin Huang is a student in the Rutgers University Master of Science in Mathematics with Option in Mathematical Finance (M.S.M.F.) program. He attended full time from September 2007 to May 2008 and now has two classes left to graduate. He is currently working full time while finishing his degree and expects to graduate in May 2009. Here Huang shares his experiences as a quant student with Advanced Trading magazine.
It's 11:30 pm on a Saturday night and I'm sitting in the Busch Campus Center, engaged in a puzzled discussion with three classmates over Dr. Halperin's formulation of the premium leg of a credit default swap. To my left is a first year MSMF student who has been here for over 12 hours; she sits back and lets out a accomplished sigh, having just finished the second problem of her Numerical Analysis homework assignment. "Two problems in 12 hours," she said. Not bad, I thought to myself. Wait until she takes Computational Finance next semester.
That number easily goes above 30. Back to work. I stare down at my notes with a resigned look, knowing that the next 36 hours will be spent studying for my Credit Derivatives midterm. Quant school experience? This is it. Wake up at 6 a.m. Gym at 7. Be at the graduate student lounge in the Hill Center by 8:30 a.m. and do work until midnight. Then on certain days, there are classes, which serve as a nice break to the routine. Do this 7 days a week, 14 weeks per semester, and you get the idea.
Does all this hard work eventually pay off?
As with any program, I believe that you get out of the program what you put into it. For me, this was exactly what I wanted. The Rutgers MSMF program is an intense 18-month program, immersing the students in mathematics, statistics, programming, and finance. Having spent the last 7 years as a proprietary trader, I was looking to broaden my knowledge of the markets from a quantitative aspect. I deliberately selected Rutgers specifically for its heavy focus in mathematics.
The MSMF program is unique in that the majority of the courses were taught without a bias towards financial applications. The professors are experts in their respective fields, whether it's partial differential equations, operations research, time series, etc., and they expose us to a plethora of problems, both theoretical and practical. This approach teaches us how to think. It forces us to understand how to formulate a problem, know where to look for the solution, and once referenced, be able to generate an approximation. It stresses the derivation of numerous models.
Even on the exams, the professors deliberately give multi-step questions (often derivations), walking us through the problem, and testing us on our fundamentals that are necessary to succeed in the financial industry.
Having returned to the financial industry in August, I was able to apply many concepts that I learned from the Rutgers University MSMF program to help my firm evaluate and manage risk, allocate capital, and generate profits. This is not to say that these are formulas written down from my class notes. Nor are these strategies listed in any text book we used. I had to read additional books and papers before formulating my own ideas and employing these strategies.
It is the mathematical foundation that the Rutgers MSMF program created for me that allowed me to understand these technical documents as well as have the ability to implement such methods.
Having said that, it is now 2:45 a.m. I have to get up in 3 hours for an entire day of studying Credit Derivatives. So I will end here. Oh, and one last thingthe demanding schedule that I've outlined regarding the MSMF program here parallels that of my current job: over 90 hours per week.
So, did the Rutgers MSMF program prepare me for a life as a quant? Yeah, I'd say so.
StevenBachrach
Rugters MSMF
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Last year we accepted about 50/220 applicants with the applicant pool expected to get more competitive this year after the Advanced Trading Rankings were published.
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What matters is what you are (aptitude, PS & programming ability) and not what you have (branded degree etc) ?
While somebody can say that any Ivy League MBA gives you a big intial advantage the same cannot be said for a branded MFE.If you know C++ you know it and if you don't know it you don't.
There are no ifs and buts about it.
Maths and Programming is not something that can be taught in a span of a year.
So from where you have done your MFE helps only till you get an interview.After that you are on your own.
The question as to which MFE is better is only of marginal importance as a quant you need to learn on the Job and so what you learn in a MFE is less important than how fast you can pick up new stuff.
While somebody can say that any Ivy League MBA gives you a big intial advantage the same cannot be said for a branded MFE.If you know C++ you know it and if you don't know it you don't.
There are no ifs and buts about it.
Maths and Programming is not something that can be taught in a span of a year.
So from where you have done your MFE helps only till you get an interview.After that you are on your own.
The question as to which MFE is better is only of marginal importance as a quant you need to learn on the Job and so what you learn in a MFE is less important than how fast you can pick up new stuff.
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MSOR - Methods in Finance (CVN) is not the MSOR that everyone is talking about in other threads. The CVN programs are entirely separate from the programs offered here. In fact, we are not allowed to take CVN courses at all. If you're doing a degree at Columbia, it's always better to actually do it here, i.e. do not do CVN if you have the choice.
I applied to LSE, Cornell, CMU, Princeton, NYU and USC for Fall 2009 admission. I was admitted into the former three and am still awaiting responses from the latter three.
I was wondering if anyone out there could tell me what they honestly think of these programs? How is the job market for people who graduated from Cornell/CMU this past December? LSE last May?
CMU gave me $24000 (full time in NY) and Cornell $5000. I am still awaiting word of a $20000 scholarship I was invited to apply for at Cornell.
Just for convenience, say I got admitted into all six programs. What would you guys suggest I do to feel confident I make the right decision? I was surprised to hear people from School A putting down NYU so much. Is there something I am missing? I think all of these programs are highly coveted and do not think any of them are particularly weak.
Any thoughts/insights would be most appreciated!
I was wondering if anyone out there could tell me what they honestly think of these programs? How is the job market for people who graduated from Cornell/CMU this past December? LSE last May?
CMU gave me $24000 (full time in NY) and Cornell $5000. I am still awaiting word of a $20000 scholarship I was invited to apply for at Cornell.
Just for convenience, say I got admitted into all six programs. What would you guys suggest I do to feel confident I make the right decision? I was surprised to hear people from School A putting down NYU so much. Is there something I am missing? I think all of these programs are highly coveted and do not think any of them are particularly weak.
Any thoughts/insights would be most appreciated!
doug reich
Some guy
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Please read and search the forums; opinions on all top programs are found around here.
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Many of these programs are not releasing information on how their alumni are faring or how many people they're placing in internships. Andy has sent questionnaires to these places (and others). If memory serves, I think only Princeton replied.
If, on the other hand, you want hearsay and anecdotal evidence, you must agree this provides a fragile and unreliable basis for a rational decision. For what little it's worth, I'd probably choose CMU from the list you've provided. It's probably the oldest program around; it has a reputation in the market; and its faculty are seasoned (like Steven Shreve). More than this I cannot say. Caveat Emptor.
Hi All,
I am Sr. Software Developer/Architect with 10+ years experience, mostly using Java/J2EE . I hold a masters degree in computer science from athabasca university.
I am interested in pursuing financial engineering as a career.
So, I was wondering if CQF http://www.cqf.com is considered reputable?
Also, in which all (other) schools do I stand a chance ?
Thanks for all the replies,
R
I am Sr. Software Developer/Architect with 10+ years experience, mostly using Java/J2EE . I hold a masters degree in computer science from athabasca university.
I am interested in pursuing financial engineering as a career.
So, I was wondering if CQF http://www.cqf.com is considered reputable?
Also, in which all (other) schools do I stand a chance ?
Thanks for all the replies,
R
