COMPARE Master Programs Comparison: Which quant program to choose?

[DominiConnor]

I have to first declare an interest since I teach C++ on the CQF, and Paul Wilmott, is a founder of the firm I work for...

A challenge you will face is that it has been a while since you did maths, and unfortunately they were mostly the wrong kind for quant finance. So much so that I do a lecture in remedial logic for quants

Also Java is not common in this line of work, but I assume that your Java is good enough that it is a sound base for learning C++ and/or C# The CQF does not assume you know any C++ before you start, but it is useful for getting a job after.

The path of least resistance for you is as some form of quant developer, which typically pays better than most other forms of s/w dev.

So before we think too hard about the way forward, it's a good idea to work out where you are now. Dan Stefanica has done a primer on financial mathematics, which although it is designed to teach, I've found that it is a good self-test for whether you are ready to spend this scale of money and time.
I do not say that you should be able to waltz through the book trivially, but if it is clearly beyond where you are, you've found out something important for a tiny fraction of the cost of doing something you are not ready for,

Dan Stefanica's A Primer for the Mathematics of Financial Engineering - Forum | Quant Network

You then have to decide whether to fill in some holes, or find a different way forward in your career.
The CQF includes the CMM, which is optimised for such hole filling, but you don't try and build a whole wall with the gunk you patch holes with. That applies to all finance courses.

 

[dstefan]

A CQF designation with Distinction is prestigious. I also like that people with a CQF have free access to CQF videos and materials for an unlimited time upon graduation.

Whether to do an MFE or the CQF depends on your background and goals.

 

[DominiConnor]

Yes, although the CQF has a final exam, you never actually finish it, unless you want to.

Personally I think all finance courses ought to be like that, since new stuff comes along, you forget the old, and you never know which things you learn will turn out to be useful 5 years later, long enough that you want it refreshed.

As Dan says, you need to have some idea of where you want to be in order to make good decisions about education. I accept this is hard, since the point of the education is that you don't know enough yet, which is why I suggested quant developer as av potential role for you.

A rough and simplistic calculation is to look at the pay of entry level QDs compared to what you're on, and see this as a possible outcome of the course.

Note that I say entry level, even though you've a decade of experience, plus extra education. Think through whether you'd be happy with that.

Note I'm not telling you what to want, mostly proababilities and possibilities of what you can get, it's not my job as a headhunter to tell you want you want, it's my job to help you get it.

 

[Joy Pathak]

I like the idea of having videos. I know of some MFE programs that do that too.

Maybe CQF can sell videos for a fee. hahah

 

[dstefan]

It is much better to have the videos free for all CQFs, and only have a few available for general viewing as samples.

 

[Andy Nguyen]

I just want to mention that we have reviews of CQF by their delegates

Review of Certificate in Quantitative Finance (CQF) program

This review was submitted on 1/24/2010 by a student who studied in the certificate program from 1/2010-6/2010 Can you tell us a bit about your background? University Gold Medalist in Information Technology, Linux Kernel Developer, Was working as analyst in Lehman Brothers and knew the basics of...

quantnet.com

And reviews for over dozen MFE programs

Resources

www.quantnet.com

 

[rochg]

Thanks for all the great replies.
My goal as asked by Dan and DominiConnor is to become a quant developer and take it from there. After reading the reviews of CFQ, I think I am inclided towards the course. Am I right?

Regards,
R

 

[Andy Nguyen]

I would like to hear a bit from Dominic or anyone familiar with CQF career service. I read the reviews and a couple people mentioned it did not exist or they don't need it.
It's one thing for people already working in the field, taking CQF to learn new things, while getting reimbursed by the company, it's another thing for people from China/India wanting to get into the field using CQF as a mean.

Since majority of CQF delegates take this online, what does career service exactly entail? Does Dominic's recruiting service play any part in this?

In short, how does a guy from India, China finishing this CQF get a job on Wall Street or in any of the financial centers?

 

[zyz]

I would like to hear a bit from Dominic or anyone familiar with CQF career service. I read the reviews and a couple people mentioned it did not exist or they don't need it.
It's one thing for people already working in the field, taking CQF to learn new things, while getting reimbursed by the company, it's another thing for people from China/India wanting to get into the field using CQF as a mean.

Since majority of CQF delegates take this online, what does career service exactly entail? Does Dominic's recruiting service play any part in this?

In short, how does a guy from India, China finishing this CQF get a job on Wall Street or in any of the financial centers?

I was going to ask the same question. Thanks Andy.

 

[marina]

I would like to hear a bit from Dominic or anyone familiar with CQF career service. I read the reviews and a couple people mentioned it did not exist or they don't need it.
It's one thing for people already working in the field, taking CQF to learn new things, while getting reimbursed by the company, it's another thing for people from China/India wanting to get into the field using CQF as a mean.

Since majority of CQF delegates take this online, what does career service exactly entail? Does Dominic's recruiting service play any part in this?

In short, how does a guy from India, China finishing this CQF get a job on Wall Street or in any of the financial centers?

Have you attended any CQF info/preview sessions? Lot of people ask these questions but they don't get any convincing answer from the speaker.

 

[Andy Nguyen]

No I have not but it sounds like a good idea to attend and get a better sense during Q/A session.
Note to self: make plan to attend these events soon.

 

[rochg]

That entails that CQF doesnt offer any kind of career service (other than maintaining a job board).
It would be great to have career service..
Regards,
R

 

[Lyosha]

Why limit yourself to only one option? I don't know about CQF, but I know good MFE programs are supremely difficult to get into. In my opinion get admitted first - decide where to go afterwards.

 

[oliveryoung]

Guys, Need your helps.
I prefer programming to Math.
If I want to become a software developer in financial industrial which program shall I choose?

 

[Weiyi CHEN]

Georgia tech QCF absolutely. Students in QCF are also able to take courses in CS major, and Georgia Tech is one of the top universities in CS. If you really want to be a software developer, it will be your better choice.

 

[GoIllini]

If you want to work for a bank in NYC , Columbia is kind of a no-brainer here.

Georgia Tech is a great school, too, but in NYC banking and much of finance, Columbia is a very good name.

If you had told me you wanted to be a mechanical engineer or study CS, my answer would have been different. But given that you want to work for a bank, Columbia opens more doors in finance than Ga Tech does.

Now, GT may be cheaper than Columbia and that also may be worth considering. I also know GT alumns who work at hedge funds and prop shops, though most of them were undergrads.

 

[Jean Claude]

Would you say it's worth picking Georgia Tech QCF over Columbia MSOR if I am looking to work in a hedge fund? I'm not too much into software development, but I have the same school dilemma.

 

[oliveryoung]

Georgia tech QCF absolutely. Students in QCF are also able to take courses in CS major, and Georgia Tech is one of the top universities in CS. If you really want to be a software developer, it will be your better choice.

Could I choose any courses I want in Cs department or just a limited range of Cs course?
Besides, is that possible to pursue a double degree?

 

[oliveryoung]

If you want to work for a bank in NYC , Columbia is kind of a no-brainer here.

Georgia Tech is a great school, too, but in NYC banking and much of finance, Columbia is a very good name.

If you had told me you wanted to be a mechanical engineer or study CS, my answer would have been different. But given that you want to work for a bank, Columbia opens more doors in finance than Ga Tech does.

Now, GT may be cheaper than Columbia and that also may be worth considering. I also know GT alumns who work at hedge funds and prop shops, though most of them were undergrads.

I'm aware of the fact that Columbia is a big name in Finance. However, when I look for development job in Finance, the employers usually are willing to hire people with skills like C++, Unix, Algorithms and their application in Finance. I don't think that's the kind of skills I can learn in Columbia.

 

[GoIllini]

My understanding is that Columbia's MSOR program is pretty flexible and Columbia has a top ~30 CS program.

Columbia will get you more interviews than Ga Tech. Said interviews will also involve a 15 minute cab ride rather than a ~2 hour flight.

My suspicion is that you are leaning towards Ga Tech anyways. I am not going to tell you that Ga Tech is a serious mistake, but I am also not going to say that it's the better school if you want to be a financial programmer.

When I worked in analytics (financial programming) at my previous firm, I knew ~4 people from Columbia and 0 people from Georgia Tech. I'm sure there are GT folks on the street, but there are many more programmers from Columbia. This is a feature of geography and Wall Street hiring habits, not a function of the relative quality of the two programs.