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"MFE program profile evaluation" master thread

It's a good advice but this is built on the assumption that you made great impression on the right people.
It takes doing well in classes, asked the right questions, performed on the top 5% of all the students that professor taught. And a well-known professor would have taught hundreds of students who went on to Ivies. Being in the top 5% of that crowd indicate excellence.
That doesn't seem to apply to the guy has a under average grade. And a letter from Famous Professor saying only that the guy is a nice person, kind hearted doesn't weight much.
 
In fact, I get low GPA when I was an undergraduate student(2002-2005), because I have put my time in the training and competition of water polo team and swimming team.

My GPA is not really poor now, I get A+ or A in most of my course within 2008-2009. And there is a big chance for me to graduate with a first class honour in University of Nebraska-Lincoln.

So, if I am possible to get higher GPA now, can I do something do overwrite the old GPA?

My academic path is: graduated from Hong Kong(gpa:2.3)---> 1 semester as transfer student(undergrauate) in Nebraska-Lincoln (GPA: 4.0)---> 1 year as graduate student in the same University until now(GPA 3.7) and planed to graduate in May 2010.

Therefore, if I transfer back to undergraduate student, can I claim that I am a transfer student from Hong Kong and will graduate in USA with a GPA around 3.7? (My current university will just print a pass or fail in the course I transfer my old university)

Also, is it that a low GPA in undergraduate plus a reasonable GPA in master degree worth much less than just a undergraduate degree with a reasonable GPA?
 
This plan does not make sense. You have an undergraduate degree and you have worked for 2 years since then. Undergraduate life is over. What's done is done. You're now in a master's degree program. Get a high GPA there, get an 800 on the math section of the GREs, get 3 great professor recommendations (they do NOT have to be famous - they just have to be able to testify that you are an excellent student with professional promise), and just apply to programs. It's been 3 years since you screwed up in undergrad - just make the case that you have been excelling since then. What matters most is the past 3 years, not what happened 4-7 years ago. I think we all like to post on these forums that you need to be perfect to get into these MFE programs, but that is not true. Sure, the programs are competitive in terms of admissions, but it is not an impossible feat to be admitted. If you have that 800, 2-3 great recs, and a 3.7-4.0 from your master's program you WILL be seriously considered by all admissions boards. Apply to 5-8 good programs and you'll get at least 1 positive response. If you have to list your undergraduate GPA, use your personal statement to explain why you did so poorly and cite recent evidence to prove you've turned yourself around since then.
 
Aditya Chitral said:
That is not true. If you see the students at GTech are equally competitive and they do reject if you are not worth them.
Click to expand...

Are u from georgia tech? This year they admitted 60 people in the program and hardly any have got paid internships though I must admit some of the students are really sharp.
 
Improving profile for FE

Hi, all

This will be my first post, I think. I am very interested in applying for a graduate program in FE for 2010/2011. I am currently searching for any opportunities to improve my candidacy.

A little bit about my current situation:

UC San Diego Dec, 2009
Major:
BS, Mathematics: Probability & Statistics
BS, Cognitive Science
Minor:
Economics

Cum. GPA: 3.5
GPA (Mathematics): 3.65
GPA (Cognitive Science): 3.21
GPA (Economics): 4.0

Working Experiences:
2 yrs of working experience as a programmer analyst mostly with VBA, SQL and Java.
7 months of working as a Statistical Analysis Intern using Excel and VBA.
A summer internship in the field of machine learning and statistics in C.

Is it essential to obtain an internship and/or experience in finance? And what kind of work should I aim to do in the finance field to best prepare myself for an FE curriculum? I possibly have an opportunity in public health policy research upon graduation, is that something I should pursue?

Also, what range of schools would you say I would have a solid chance of getting in? Only a few of the schools I looked at had the admission statistics available. In either case, top, middle, bottom, or a combination is sufficient-- I am not looking for a detailed answer here. I just want to get a raw sense of where I stand.

Regards,
Vitaly
 
what classes did you need for the probability & statistics concentration?
 
Numerical Linear Algebra, Real Analysis, Probability & Stochastic Processes, Mathematical Statistics, Computational Statistics, and a bunch of electives.

I ended up taking 3 courses in Probability & Stochastic Processes, 4 courses in Mathematical Statistics, 2 courses in Real Analysis, 1 in Complex Variables, 1 in PDEs, 2 in Linear Algebra, 1 in Optimization, 1 in Mathematical Finance, and others, but these are the ones I remember in my head.
 
Your profile is a good fit for many programs. I only know something about NYC based programs so my suggestion would base on this limited knowledge.
I would make this list and suggest you apply to them. In no particular order or ranking:
Baruch, NYU, CMU, Columbia

If you are partial to the west coast, there are UCB, Stanford. I feel you should make use of your practical technical background so you can get the most bang for your buck.

It's true that only a handful of programs make any data available (hello Columbia?) so it's like hitting a pinata blindfolded.

Make sure to make good use of Main Page - Quantnet Wiki
 
vborzenk said:
Numerical Linear Algebra, Real Analysis, Probability & Stochastic Processes, Mathematical Statistics, Computational Statistics, and a bunch of electives.

I ended up taking 3 courses in Probability & Stochastic Processes, 4 courses in Mathematical Statistics, 2 courses in Real Analysis, 1 in Complex Variables, 1 in PDEs, 2 in Linear Algebra, 1 in Optimization, 1 in Mathematical Finance, and others, but these are the ones I remember in my head.
Click to expand...

=> 3 calculus courses + 15 upper level math classes = 18 math classes

=> 18 classes / 6 semesters (I'm assuming you will be a senior in 09-10) = 3 math classes a semester.

=> 3 math classes a semester + economics minor + cognitive science major + distribution + programming and what have you.

It sounds as if you have a well rounded education and a good amount of work experience. If I were you I would reconsider even going to grad school at all. I'm sure the UCAL name will help you get a legit internship in a related field; turn it into a job.

~Good Luck
 
Best option to become more competitive for admission

I am very interested in applying to the MFE starting next year (Baruch, Columbia, Cornell, Berkeley).

One of the most important questions I have now, is what to do this year to increase my possibilities of being admitted into the program.

I have the following profile:

Bachelor in Finance
GPA: 87/100 (don’t know the conversion to your scale)
TOEFL: ibt 112
2 years professional experience as financial analyst at Hewlett Packard.
Coursework: 2 statistics courses, 2 calculus courses, quantitative finance, financial engineering.

I have been taking math classes outside of university reviewing the following subjects: linear algebra, analysis (calculus) and Ordinary and Partial Differential Equations.

I have the following three options to prepare and to increase my chances of being admitted:

a)Prepare and present a strong GRE and apply directly.
b)Start a masters degree in Applied Statistics (I would finish one year’s coursework before I attend Berkeley)
c)Take the prerequisite classes at a university.

For option a) I have the following question: can I prove to you with an exam that I have taken the prerequisite courses? (linear algebra, multivariate calculus, differential equations, and advanced statistics and probability).

Right now I have the courses I mentioned before but I have been taking particular classes with a mathematician at home. I could easily prove that I know the content of the subjects.

For option b) I would be taking the following subjects:

Probability and Statistics, Univariate and Multivariate Calculus, Statistical Methods, Matrix Algebra and Optimization, Computer Tools for Statistics, Distribution Theory, Statistical Inference, Lineal Models, Stochastic Processes.

I would be taking 3 of these subjects the first semester (August-November 2009) and four in the second semester (January to May 2010). I would stop in March if admitted to Berkeley.

Option c) is to take 6 of the following classes from the engineering program at a local university:

Linear Algebra, Calculus, Differential Equations and series, Numerical Methods, Probabilty and Statistics, and perhaps some programming courses.

There is a very important money factor involved in the decision.

Option a) is the cheapest and will allow me to continue working and saving for the MFE.
Option b) is somewhat expensive as I have to move to another city. I could keep my job though and be able to pay for the applied statistics master and then would have to get a loan with the local government and my parents for the MFE.
Option c) is more expensive than a) but cheaper than b)

Please let me know your comments an opinions regarding which option would be better to improve my profile.

Thank you in advance!

I look forward to hearing from you and continuing my preparation for the MFE.

Best regards,

Ricardo Pierdant
 
interesting question, Iam in the same boat as you. {finance undergrad, minimal quant experience, but have a real deep interest/passion in learning how tech and finance come together} I think learning a programming language can't hurt either. Once I finish my GRE this week, that is the next task to start.
 
Considering the tuition at either one of the MFE programs you plan to apply to (except Baruch) is quite steep, I reckon that you may have to do all three options just to have a chance of admission to any of them.

a) You can take GRE, get 800 Q and it doesn't mean a whole lot. You can then take GRE Math subject, score a 95% and it will matter a lot more. Still, many programs require that your transcript(s) shows the required math courses to be considered for admission.

This brings you to option b)
b) You are counting on getting into Berkeley after a year and to be honest, I think you are wasting your time and money. Consider your profile, I would say it's close to impossible. Maybe stay there, finish the master degree and you will have a better chance.

c) There is no sure way to know if you will get into any of the program even after you finish this. The competition at the top is fierce.

You should realize that tuition in Mexico is a fraction of what you are paying in the States. You will pay 50K upward for the MFE program. And that is tuition only. Unless you somehow got into Baruch where tuition is 20K for out of state.

And we aren't even discussing other stuff you need to prepare, like C++ coding. That is something you can't just take classes and be good at.

In short, here is your study plan
1) prep for the GRE exam, if needed, do the GRE Math prep with your math tutor
2) learn programming, spend a year coding to get to a working level
3) spend more time here to learn about the numerous MFE programs out there. Once you get a good sense of how you fare among other applicants, you can get a list of more realistic wishlist.

Good luck and don't hesitate to use the resource on Quantnet
 
Can I pursue MFE with my qualifications?

I really want to pursue an mfe but I am not sure whether I will gain admission due to my qualifications. I graduated from uc berkeley 1 year ago with a b.s. in electrical engineering and computer science. My gpa in terms of CS classes was a 3.4. The math classes that I took included up to multivariable calc, linear algebra, discrete math. My gpa for math classes is a 3.0 however. My low gpa can in part be attributed to extenuating medical circumstances, for which I had to get special permission from the dean to take a semester off. However, I still graduated on time. For the past year I have been working at a startup in silicon valley as a software engineer and have gained some great experience in enterprise application development. I want to get into algorithmic trading/building trading systems. Also, I have been taking graduate level classes at stanford in artificial intelligence and machine learning. Since medical issues are behind me now, I have doing very well in these classes and have been getting A's. Given my interests in building trading applications/algo trading and my background as a software engineer should/could I pursue an MFE or should I look more into getting a masters in CS? If I were to pursue an MFE, should I start taking math classes and perform well in them in order to offset grades in undergrad?
 
Take DE's and probability. Yes.

I am surprised that you did not need to take DE's as an EE major, or complex analysis for that matter.
 
Am I doomed? Share your thoughts

I am interested in Financial Engineering, but I would like to hear some honest opinions about my options. I am currently 24, 25 soon. I am unemployed. I applied to join the army in my country. I have always been good at math, (it is the only passion I have) but due to circumstances, I was confused, mentally unstable and I ended up doing a degree in computer science minoring in electronics. I achieved only a pass degree. No honours or anything.

What is the best option you guys think to get a Masters in Financial Engineering?

I am deeply concerned that I will not get into a program due to my low GPA, I am hoping that a postgraduate diploma from the University of London will help (distance education, are they good?) I can tell you, after seeing all the 3.0 and up GPA really makes me feel as if I should just get a another first degree. But if I have to do that, I might as well stay in Information Technology. There must be something else I can do.

I am also concerned that when I am actually able to enter the field of FE, Ill be too well, old? I am not allowed to leave the army until 8 years have passed once I join (ouch), but I have no choice.


**could this be moved into the education section, second post here.***
 
Which country? Are you any good at CS and/or EE?
 
Let me be more specific, I applied, I am not in, so I can still decline. I am bound to them for 7 - 8 years, meaning I can not quit, but I will pretty much have a normal life.

There is an IT and Finance department in the army, and I had stated that I would like to go into either of the 2. They would then invest in me (ie get me the education etc I need) to fill my role. This includes sending me overseas (UK or US) for education/training.

If I am good at CS or EE? Perhaps if I had tried, my counsellor claimed I was 'not' normal looking at my performance. I have Lots if A's and lots of F's not much in between. It's in the past now, and I am trying to correct my present to have a great future.

So what you guys think? I am thinking I could get an MSc in mathematics, since my undergrad was so poor, and then pursue FE from there or will the postgrad diploma in mathematics suffice?

I am from Jamaica
 
I should also mention that I did some undergrad intermediate economics courses out of curiosity after graduation. I enjoyed them. I really wish not to do another undergrad degree but if it the best choice to get me where I would like to be, I guess I would consider it.
 
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