"MFE program profile evaluation" master thread

I can come up with another reason for profile evaluations. Rather than explain, I'll illustrate my point with an example.

Hi guys,

So, I'm applying to schools X, Y and Z. Can you evaluate my chances?
Quadruple Major in EE, Math, CS & Physics
GPA: 5.0/4.0 unweighted.
Graduated valedictorian 1/30,000

GRE: 790 V, 5.0 AW, 900 Q

Coursework
Honors Linear Algebra 1-2, A's
Honors ODE/PDE, A's
Honors Algebra 1-2,A's
Honors Analysis 1-2, A's
Honors Complex Analysis A
Honors Stochastic Calculus 1-2, A's
Honors Numerical Analysis A
9 courses in Honors graduate C++: A's
Finance/Derivatives/Econometrics/Risk Management: A's

Extracurriculars
-Played the (insert instrument)
-Varsity (insert sport)
(Insert long list of meaningless accomplishments here)

Fluency
MATLAB, C/C++, Java, SASS,
English, French, German, Slavic, Chinese, Arabic, Lithuanian

So, I'm really worried I wont get into program X, because I got a 790 on the verbal section and I know program X really wants blah blah blah.
 
alain said:
I came up to the unorthodox conclusion that whoever ask for a profile evaluation is not cut out for the type of job that the MFE prepares you for. I think you ask for a profile evaluation only if you are not confident enough in yourself or your abilities to apply to a given program and are looking for the opinion/support of others.

So, do yourself a favor, grow a pair of "balls", and apply with confidence to whichever program you like. There is nothing to loose. The worse that could happen is that you get rejected. If that is the case, you should find out why and work towards improving those weak spots.
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Applying to schools is a lot of work. The typical post-graduate's time is worth $25/hour+ and a single grad school application might take 30-40 hours, not to mention standardized tests and the application fee. If it costs me $1K total to apply to a certain school and getting in is worth $50K to me, it makes sense to check if there's at least a 2% chance I'll get in.

The fact is that thousands of students have less than a 2% chance of getting into many of these programs, but they apply anyway. That someone would seriously consider an FE program but also ask if they have a reasonable chance at certain schools shows a willingness to admit they could be wrong about their own perceptions. Given everything that's happened in the markets because of quants who *couldn't possibly be wrong*, a little humility on one's perceptions may be just as much of a strength as a weakness.
 
I have cleared FRM (AIMR) and CFA-III (CFA Institute). Would this give some edge in the admit process?
Please reply.
Thanks and best regards
 
aneja said:
I have cleared FRM (AIMR) and CFA-III (CFA Institute). Would this give some edge in the admit process?
Please reply.
Thanks and best regards
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All schools are different. It certainly won't hurt your chances. Esp passing CFA level 3...that shows a lot of committment.
 
aneja said:
I have cleared FRM (AIMR) and CFA-III (CFA Institute). Would this give some edge in the admit process?
Please reply.
Thanks and best regards
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I think it will probably be helpful- not unlike doing a certificate program in finance at a respectable school, but it's simply the icing on the cake. I think you need to have a strong core application that centers on academics if you're less than a year or two out of school, work experience if you're more than four or five years out, and maybe a combination of both if you're somewhere in between.

A CFA, let alone an MBA, can't make up for the difference between working five years as a checkout Associate at Wal Mart and working as a Research Associate at Morgan Stanley. (I personally believe that both are respectable lines of work- I have family that works for Wal-Mart- but a lot of people are more narrow-minded on this, rightly or wrongly.)

So again, if you have a strong academic and/or professional background, it can help you stand out a little. If you don't have a strong enough academic and/or professional background for the schools you want to go to, you need to focus on getting that first.

**Disclaimer: This is the advice of a financial programmer who has helped compare some of a large investment bank's hiring candidates in the capital markets and technology areas. I don't hire quants. I have never sat on a university admissions board.**
 
reply:

Thank you for your reply mate.

Work exp. wise I have been working with JPMorgan Chase in the investment banking risk for the past 2 years, would be 3 by the time of admit (if any). prior to that I have done MBA Finance (3.22/4.0) and Industrial Engineering (3.17/4.0).
P.S. Stochastic calculus though covered academically, need some revision.
 
Make sure your fundamentals are strong. Schools won't get to the extra part like CFA, FRM and assorted certificates if you don't meet filters like Quant GRE score, Cal sequence, LA, analysis, PDE, C++ with good grade.
I have seen experienced applicants with years in finance and letters attached after their names but rather out of school for so long. These students would have a hard time catching up with the intense mathematical rigors required in courses such as stochastic calculus. Often, schools get to these students only once they exhaust the top qualified recently graduated.
 
Re:

Andy I concur that the work experience tends to blur out the core academic stuff and I would only have my college transcripts to demonstrate any pedigree in PDE, C++ and rest. I have a GRE (Q790), but it is highly unlikely I would be able to pick up certification courses before shooting off the apps.
I asked about FRM (GARP), as I believe, the certification should establish know-how in quant mathematics (regression, ARCH GARCH, probability and stuff). Same holds for CFA as well (given the overlap).

So, with all this, does it mean that work exp people, like me (with limited quant application in their job profile) fall lower in the pecking order?
 
aneja said:
Andy I concur that the work experience tends to blur out the core academic stuff and I would only have my college transcripts to demonstrate any pedigree in PDE, C++ and rest. I have a GRE (Q790), but it is highly unlikely I would be able to pick up certification courses before shooting off the apps.
I asked about FRM (GARP), as I believe, the certification should establish know-how in quant mathematics (regression, ARCH GARCH, probability and stuff). Same holds for CFA as well (given the overlap).

So, with all this, does it mean that work exp people, like me (with limited quant application in their job profile) fall lower in the pecking order?
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Most schools say that they value work experience, but your MBA also makes you a little less of a typical candidate. I would recommend being very specific about why you need this degree and what you will do with it and the rest of your background when you graduate.

If you graduated from a top engineering program known for curving C+s/B-s instead of B+s/A-s, I wouldn't let the comments on GPA scare you away. You might have had some difficulty getting in if you applied right out of undergrad or an MBA, but the two years (likely as an associate and possibly now a VP) in risk management at JPMorgan will help the schools gloss over some of that. IMHO, relevant professional experience is a better indication of success during school (and more importantly, after graduation) than the academic numbers.

If you don't get into a top-five full-time program, I'd recommend going to school part-time and pursuing a lateral hire if that's what really interests you. If I were a risk manager at JPM with an economy like this, I would think long and hard before giving up a nice job like that.
 
Thanks Andy, Alain and others for your helpful posts....could I please request for a quick evaluation of my profile as well?
Education: B. Tech Comp Sci (GPA: 8/10) from a top 10 univ in India in 2004, MBA from the top B-school in India (2.9/4) in 2006
3+ years working as an analyst/associate with an european bank in hong kong in the Debt Capital Markets team (Origination). Passed CFA level 3 this year. Will get good work recos. GRE quant 800, Verbal 600.
I want to get into a quant role and there is no way I can make that move laterally from my current role given my relationship banking background.
Would top schools consider my banking background as a plus given that I don't want to get back into relationship banking? I am applying for the 2010 class, and anything I can do to strengthen my profile in the next 1 month or so I have?

EDIT: I am applying to CMU/Princeton/NYU/Columbia/Stanford?Cornell.
 
I couldn't help but notice how similar you profile was to the author of this blog The Stanford MS-FM Times , maybe you can shoot the author an email to trade ideas / advice

silkentouch said:
Thanks Andy, Alain and others for your helpful posts....could I please request for a quick evaluation of my profile as well?
Education: B. Tech Comp Sci (GPA: 8/10) from a top 10 univ in India in 2004, MBA from the top B-school in India (2.9/4) in 2006
3+ years working as an analyst/associate with an european bank in hong kong in the Debt Capital Markets team (Origination). Passed CFA level 3 this year. Will get good work recos. GRE quant 800, Verbal 600.
I want to get into a quant role and there is no way I can make that move laterally from my current role given my relationship banking background.
Would top schools consider my banking background as a plus given that I don't want to get back into relationship banking? I am applying for the 2010 class, and anything I can do to strengthen my profile in the next 1 month or so I have?

EDIT: I am applying to CMU/Princeton/NYU/Columbia/Stanford?Cornell.
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Hi, I'm currently enrolled in the Pure Math/Finance program at University of Waterloo http://www.ucalendar.uwaterloo.ca/0708/MATH/pure_math.html
and I'm graduating in April 2011. I'm interested in working in the Global Markets divisions of banks, so I am thinking of applying to the MFE programs in Canada (Toronto, Waterloo) and US (CMU, Stanford, Princeton, Columbia, Cornell, etc.). I just have a few questions:

1) I understand that math marks are extremely important in getting admission for these programs. Are the courses in my program "competitive" enough, given that I get a decent grade, or do I need to go take some grad courses just to stand out? And how well can the grad officers distinguish between a bird math course and a very difficult math course?

2) After reading some posts I realized that after getting a Quantitative Masters, I'll be competing with PhD's in Math/Engineering/etc.. In this case, wouldn't the PhD candidate, given that he/she has some background in quantitative finance, always get the job over the Masters? Also, for those bulge bracket banks, do Quantitative Masters get in as Analysts, not Associates?

3) How applicable to the real world are the things taught in the MFE programs? (If not, I'm assuming MFE is just used as a stepping stone to get into the industry)

Thanks
 
atreides said:
I couldn't help but notice how similar you profile was to the author of this blog The Stanford MS-FM Times , maybe you can shoot the author an email to trade ideas / advice
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lol...thanks atreides. This is a remarkable observation!

I just realized that the author of the blog is a good friend of mine (and my former classmate)!!! I am in touch with him on my application, just didn't know that he also had a blog :)

Any views on the profile itself?
 
Please suggest realistic colleges i should apply to

I do not know which colleges i should apply to, which are really good in the field of quantitative finance, and which i can get into. I want to apply for Fall 10.
Can somebody please throw light on the colleges i should apply to? Realistic Colleges, that i have a chance of getting into?

GRE : 760(q); 620(v); 5(AWA)
Undergrad: B.tech in Telecommunication Engineering
Post Grad: MBA - Finance, NMIMS University-India
Secured "A Grade" and above in all the finance electives.
CGPA : 3.34
12th Grade: 86.67%
10th Grade (ICSE India) : 94.5%
Work Ex: 1 Year, in the Corporate Fiannce Division of a Pharma Company
2 internships of 4 months each, intelecommunication companies.
Internships: 2 internships of 4 months each, in telecommunication companies.
Letters of Recommendation: 1 from CFO - current firm, one from internship guide, 1 from college prof who taught me financial engineering

I know my quant score is low, but giving it again is not an option anymore. I'd really appreciate it if you could suggest realistic colleges for me.
 
Aditya Chitral said:
Give GRE Again and get better score in Quant section
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Agreed. If you graduated with an engineering degree, you have no excuse for getting less than a 790 on the quant section. Buy some study books or take a GRE course and know the questions like the back of your hand. An engineering major should be able to get a 790.
 
Pallavi said:
I know my quant score is low, but giving it again is not an option anymore. I'd really appreciate it if you could suggest realistic colleges for me.
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Why? There are many schools that have deadlines several months from now. Having 800 would make a huge difference for you, given your verbal and AWA are already very good.
I understand that your idea of "realistic colleges" are those would accept you with 760 GRE. I don't feel comfortable making recommendation of schools that you may regret later on. It's better to give yourself the best options available.
 

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