MFE App help!!!

[kellyhaley]

Hi everyone, I am new to this forum. I have a question about an admission essay. If you are asked to write about career aspirations, should you pick one field to write about or cover all the ones that you find interesting. PLS feel free to throw ideas at me. :prayer:

For those of you already in MFE programs, what were your career aspirations before you start the program and what are them now?

YOUR HELP IS GREATLY APPRECIATED!! THANKS EVERYONE!!

 

[doug reich]

Two thoughts:
1. If you have to choose, concentrate on one or a small number of fields.
2. Do what the pros do: answer the question you wish you had been asked, which seems to be "what do you find interesting about finance?" Don't assume they're checking off boxes ("Ambition, check. Trading desk at Merrill, check.") but instead they're looking to understand you better (not that it isn't a little of both).

 

[woody]

I wrote about energy and environmental risk. But I don't think you're essay has to be about any specific industry. You are allowed to keep your options open. Just don't sound wishy-washy. Don't say 'I think...' or 'maybe I...'

You can use your general characteristics to discuss career options. Are you a fast-moving risk taker? You might want to explore algorithmic trading. How about a deal maker? You might want structured finance. See if you can match your traits to your career. (Maybe a recruiter has insight into this kind of thinking.) What have you learned in the past few years that makes you want MFE?

 

[bigbadwolf]

If you are asked to write about career aspirations, should you pick one field to write about or cover all the ones that you find interesting.

When they say "career aspirations" I wonder if they mean "intellectual aspirations." For sure, writing something like, "I want to understand the extent to which Brownian motion provides any real insight into financial markets," is likely to command more interest than "I want to have my own trading desk and make $10m a year." So possibly include intellectual aspirations. MFE is still higher education: it has something to do with the life of the mind. If you focus on more than one aspiration, try to ensure there's a common intellectual denominator, a single unifying impulse which animates all your different interests and thus unites them. In other words, don't provide a thinly camouflaged bullet list of interests (or intellectual aspirations). Those reading your essay want to see evidence not only of analysis but of intellectual synthesis: an ability to link disparate ideas together in a persuasive whole. That's what essay writing is all about. The art of essay writing has, unfortunately, fallen into sad decline in recent decades.

 

[kellyhaley]

Hi Doug and Woody, thanks for ur input!

My undergraduate I have a BS in math and BSBA in actuairal science. I'm currently working as an actuarial analyst. During my undergrad years, I have focused on four areas: math, stats, finance, act science. The actuarial exams I took prepared me very well in terms of math/statistics skills. In fact, one of the exams I took (coincidently called exam MFE) was all about derivative pricing, hedging and I was fascinated by the materials on that exam.

The two research projects I did as an undergraduate (both were presented at national level conferences) were about Financial Math and modeling & nonlinear approximation in applied stats, during which I became very familiar with Matlab and SAS.

With all these said, I want to do MFE b/c this is something I am interested in and serious about, and my background has prepared me well for this career. Let me put it this way, what I have learned in the past are pieces of the puzzle, and MFE is the program that will help me put the puzzles together. I have worked very hard on getting the pieces of the puzzle and I think now is the right time for me to make them into a masterpiece.

In terms of personality, I work extremely well under pressure, and I LOVE fast-paced working environment. Currently I'm interested in Risk Managment, and I thought about becoming a trader b/c of my personalities (I know becomeing a trader takes more than just personalities ) however, I want to learn as much as I can about other fields/careers. I don't want to sound like I know I want to do Risk Management or become a trader, but at the same time I don't want to give impression that I don't know what I want to do.

Can anyone give some more advice??
I REALLY APPRECIATE YOUR HELP!!!!! THANK YOU!!!

 

[woody]

You will not be given a career chip based on your essay. Just say what you feel, like in your post, but more professionally.

 

[IlyaKEightSix]

She sort of reminds me of me...young, smart, hyper, and looking at which career options to explore. I'm interning as an actuarial analyst right now as well.

 

[kellyhaley]

Hi Everyone!!

I don't want to sound like I know I want to do Risk Management or become a trader, but at the same time I don't want to give impression that I don't know what I want to do.

Can anyone give some more advice??
I REALLY APPRECIATE YOUR HELP!!!!! THANK YOU!!!

 

[Andy Nguyen]

In terms of personality, I work extremely well under pressure, and I LOVE fast-paced working environment. Currently I'm interested in Risk Managment, and I thought about becoming a trader b/c of my personalities (I know becomeing a trader takes more than just personalities ) however, I want to learn as much as I can about other fields/careers. I don't want to sound like I know I want to do Risk Management or become a trader, but at the same time I don't want to give impression that I don't know what I want to do.

RM and trading are vastly different in term of working environment, required skills, personalities so I would think you will benefit by getting some background reading.
In my signature, there is a link to the list of books deemed relevant to the field of FE. You should at the minimum download the free guides (Joshi, Dominic, Michael Page) and then get the books in the first 2,3 section of that book list.
Thinking you want to do X and that you have what it takes to do X aren't the sure way to eventually end up doing X. You should talk to people who do X for a living to learn what it is like to work in X i.e getting the real world feedback.
Nobody would blame you if you have no clues what you want to do. It happens to everyone new to the field but by doing more research, you will stand out to the admission committee and more importantly, save yourself from doing years of irrelevant things.

 

[IlyaKEightSix]

Hi Everyone!!

I don't want to sound like I know I want to do Risk Management or become a trader, but at the same time I don't want to give impression that I don't know what I want to do.

Can anyone give some more advice??
I REALLY APPRECIATE YOUR HELP!!!!! THANK YOU!!!

Use one punctuation mark at the end of a sentence. Trust me, you're not the only one in the boat of "Hey lookit! Cool quantitative field with big bucks and new challenges every day to keep the mind going!" I'm in it too, and we have to come across as professional as we can be while still making sure our personality gets across so we don't wind up giving the impression that we are robots.