MEng student here

[Jeff Timm]

So, here's the scoop: I'm a sophomore mech engineering/business administration student, and I've been thinking a great deal about becoming a quant. My GPA isn't great (which is going to be the hard selling point, I know), but it's been steadily improving. I'm planning on minoring in mathematics (I need two additional math classes--one of which will be a calculus-based probability class, the other of which I haven't decided on). I've taken classes in Matlab, C, and Wolfram Mathematica, and my major requires the consistent use of both.

Right now, I see my chances of getting into an MFE program right out of undergrad as pretty slim. My first few semesters, I didn't perform very well due to a number of personal issues which I won't get into here. I received a C in an econ course (ouch), and a D in a statistics course (oof). I've been doing consistently better in my quantitative classes, never receiving worse than a B in them, since.

To prove my worth, I plan on doing some finance- and economic-based research in conjunction with a professor who has expressed interest in doing so; will work towards getting my CFA, FRM, and CAIA credentials; and will attempt to find work as a financial analyst, in the mean time.

Given this post-undergrad plan, do you think they'd be more forgiving of my academic shortcomings?

 

[Canuck]

Course Work Your undergraduate and graduate course work is shown in your transcripts. You do not need to have majored in mathematics since many successful applicants have an undergraduate degree in economics, engineering, physics, statistics, or some other quantitative field. Neither is it necessary to have graduated from a top-rated university. Many offers are made to fine applicants from less well-known schools. However, a strong mathematics background is needed. At the very least, an applicant should have a course in calculus (including multi-variable calculus), linear algebra, and calculus-based probability. If you do not have these, you should be aware that you will stand a much better chance if you take courses (either online or at a local college) to remedy that deficiency. This is the minimum but most applicants have more than that. Some helpful courses include ordinary (ODE) and partial differential equations (PDE), and other subjects such as real variables, and other courses that show evidence of interest and ability in mathematics. Additional courses in programming, finance, and economics will also help your application. Also, you will have a better chance of admission if you have a depth of knowledge in one quantitative area rather than a superficial knowledge of several areas, even if they are all relevant to a career in finance. All these are not necessarily requirements of the faculty but rather a practical reflection of the competitive nature of the process. No matter how strong your application may be, if there are others which are exactly equal to yours but with more and stronger course work in relevant subjects, then those will obviously have an advantage in the admissions process.   Most applicants have very good grades for all their undergraduate coursework, mostly A and B, especially in the quantitative subjects. An occasional C in a subject not related to mathematical finance such as painting or music will not hurt the application. But the hard fact is that you are competing with applicants who have no C grades in any quantitative subject. Similar comments apply to graduate coursework for applicants who have a master’s degree. If you think the program’s faculty might have difficulty understanding your transcript (for example, if your courses are called Mathematics I, Mathematics II, etc., rather than Calculus, Linear Algebra, etc.), it can be helpful to provide more detail about the topics that were covered and textbooks that were used.

Read the "Do's and the Don'ts of MFE Applications" on the home page.
https://www.quantnet.com/threads/do’s-and-don’ts-of-mfe-applications.12664/

 

[Jeff Timm]

Yep, I read it before I posted it. What would your personal suggestion be?

 

[Canuck]

Ok, well first take all my advice with a grain of salt. Also if you answer the questions below, it would help.

My GPA isn't great

Is it <3.0? <3.5?

D in a statistics course

Can you retake it?

I've been doing consistently better in my quantitative classes

Have you been getting A's?

Without knowing the above I would say that you need to get straight A's in the rest of your quantitative courses. The hard truth is that if you want to get into the best programs you need an outstanding GPA, (just look at these resumes from NYU's site http://math.nyu.edu/financial_mathematics/content/06_prospectiveEmployers/NYU Courant Math Finance Summer Internship Resume Book.pdf) plus a little extra something.

That said Boston MSMF 's average GPA is only 3.4/4 (http://management.bu.edu/files/2012/08/BU-SMG-MathFi-2012.pdf). So going to a second tier program may still be an option for you if you don't ace all your classes.

 

[Jeff Timm]

My GPA is right at 3.00, I might be able to retake statistics, and I've been getting A's and B's in my quantitative courses. I don't see myself as attending one of the top-tier schools, however. I was thinking NYU-Poly, specifically.

 

[Canuck]

My GPA is right at 3.00, I might be able to retake statistics, and I've been getting A's and B's in my quantitative courses. I don't see myself as attending one of the top-tier schools, however. I was thinking NYU-Poly, specifically.

Why don't you see yourself attending the top-tier schools?
Looking at the tracker NYU Poly seems to accept everyone, so I guess you could go. But why would you?

 

[Jeff Timm]

If, in the future, I feel I have a chance to go to, say, NYU-CIMS, Columbia, or Baruch, I wouldn't hesitate to apply.

Update: I can repeat both the stats and econ courses, and the new grade is included in GPA calculation while the old one is excluded.