"MFE program profile evaluation" master thread

[Ashram]

Hello everyone! I've been lurking the forums for a while (there's lots of great information!), but I'm a first time poster. Here's a little about me:

I am a rising senior at a non-target private school. It has a good reputation in the sciences, but not so much for placing onto wall street, or in finance. Few banks recruit here, and as a result, I do not have any finance internships on my resume. I have spent my past two summers interning at a Fortune 100 company, and will be spending this summer doing some NSF-funded research in graph theory.

I'm a double major in applied math and economics, and have been an active leader in all the finance/investment groups on campus. A few of my friends and I have launched some undergraduate financial journals and websites as well.

GPA: 3.95/4.0
GRE: 800Q, 650V, 10/12 Writing

I've taken the following math courses:
Calculus I, II, III
ODEs
Linear Algebra
Intro to PDEs
Numerical Analysis I, II
Real Analysis I, II
Combinatorics
Graph Theory
Probability and Statistics
Econometrics
Stochastic Differential Equations
Linear and Integer Programming
Time Series Analysis
Econometrics

Additionally, I have taken a class in Intro to Financial Engineering from the economics department (it was math-heavy and we used Hull as our main text), as well as at the computational-finance type classes my school offers.

Over the next year, I plan to take classes in:
Applied Probability I, II
Numerical Methods for PDEs
Complex Analysis

I also plan to take the GRE Math subject test in October.

I have experience programming in Matlab, C++, and VBA pretty efficiently as well.

I really like quantitative finance (especially modeling phenomena), but I unfortunately was not able to get an internship for this summer. How much will this hurt my application? Ideally, I'd like to shoot for a top program. I don't think my applcation is nearly strong enough for Princeton/Stanford, but my target would be Columbia MSFE. If you guys need any more information, please let me know!

Thanks!

 

[AndrewChang]

Chances of getting in an MFE program.

Hi all!

I am basically becoming a senior this year and I was wondering what the chances of me getting into an MFE program is. I am going to try to get into an MFE program right out of undergrad. I attend Baruch college and I am a double major in actuarial science and economics and I am graduating in 3 years with approximately 140 credits. I have a 3.85 gpa + but I do have a B+ in one of my math classes because in the beginning I thought I was going to go to business school till I found out about the financial engineering programs. I am going to take classes in monte carlo simulations and stochatic processes and I passed 2 of the actuarial exams but I have no job experience whatsoever. I know I can do around 800 on the math part of the GRE but I doubt I can get any higher than 600 on the reading part. I am very interested in the MFE program and I have taken any course that I've read would help me get in. However, I think I am only going to take one programming course. I was thinking of applying to Columbia MFE, Cornell FE, Baruch MFE program, NYU MS program and Boston U. Should I take more programming courses or are classes in Monte Carlo Simulation considered programming? Thanks in advance!

 

[woodf]

what can I do to improve my chances?

Okay, so, I am going into my fourth year of undergraduate study. I am studying mathematics and statistics at the University of Toronto. My CGPA is 3.99, with A+ in every math or statistics class that I have taken. My work experience includes two summers as a programmer/software developer at a small engineering firm. I can program in C++ and Python. I have taken the GRE and my quant score was 780, with verbal at 550, which worries me.

The courses which I have taken include real analysis, complex analysis, calc 1,2,3, topology, introduction to number theory, ODEs, PDEs, linear algebra 1,2, calc based probability, calc based statistics, time series, and stochastic processes.

I would like to know what I should do to increase my chances of getting into a top tier school. Do you think that I should retake the GRE? Without related experience, will I even have a chance at the top tier schools? Thanks in advance for your replies!

 

[Connor]

800 quant score on GRE is always a plus.

You need to demonstrate an interest in finance through self-study, taking a few courses, or CFA level 1.

 

[asjankit]

Profile Evaluation for application to MFE for 2011 Fall

Hello All

I am Ankit Jain from India, a prospective student looking for MFE program in HAAS 2011 FAll. I just want to evaluate my chances for getting accepted to this program.

Following are few highlights of my profile.

* Graduated in 2008, with B.Tech and M.Tech in Electrical Engineering with specialization in communication and signal processing from Indian Institute of Technology Bombay, one of the premier technical institutes in INDIA.


* CGPA: 3.6/4. Ranked 3rd in batch of 21 students .
Course work included :
* Stochastic Process, Optimization, Linear Algebra, Partial Differential Equation, Complex Analysis.
* Basic courses in Engineering Economic Analysis, Introduction to Derivative Pricing.
* Programming : Proficient in C/C++, MATLAB, SCILAB

*GMAT score: 730 (Q=50, V=38)

* Professional Certifications: Passed out two modules in National Stock Exchange's certification of Financial Markets in Derivatives and Securities Market.

* Currently employed in Schlumberger as a field engineer. Current job has made me responsible and has taught me team work.


Query
* Should I give subject GRE math ?
* Should I get reco from workplace or from profs ?


Thanks in advance for the reply.

Regards,
Ankit Jain

 

[arujuit]

Query related to CMU MSCF

Hi Andy,
I am Arusharka from India.I am interested to apply for CMU MSCF.My GMAT Score-710(Quant 50 vERBAL 35),Cleared FRM L-1(GARP) and will appear for L-2 this nov.Working in pwc for 3.5 yr,first as a qulity analyst,now doing analytical jobs(using ACL/SAS).I did my engg in Information Technology(Semester percentage 74%).Did 4 certification s in derivatives in national stock exchange of india.Cureently working on predictive modeling.How is my chance to get admission into CMU MS

 

[cestlecutee]

[MFE] Seeking for Profile Evaluation & Plans for this summer

Background:
School: XMU in China (211+985, not quite famous in the world)
Major: Financial Engineering & Mathematics (dual degree)
GPA: FE: overall 83.43（3.30/4.0），major 83.45（3.38/4.0），junior year 86.10（3.63/4.0）
Math: overall 79.68（2.97/4.0），major 79.68（2.97/4.0），junior year 83.63（3.38/4.0）
GRE: V 300 (8%) Q 780 (89%) AW 4.0 (41%) (I'm planning to take another one)
Maths: highlighted: Numerical Analysis (99/100), while Principles of Probability & Statistics is a shame(60+/100)
Programming: self-taught Excel VBA, have Matlab & Visual FoxPro Database Programming courses, know about eviews
Finance: some cources with high scores, but some with so-so scores.

Plans for this Summer:
Tests: Aug.6 GRE·AW，Sept.11 TOEFL，Oct.23 GRE·V&Q
Internship: a future company, for 1 month.
Thesis: working with a phd in my school.

Some Confusions:
1、With such a poor background, which programs in US may be suitable for me? Or any other programs that resembles MFE would be recommended instead?
2、What types of job should I do during the internship so that it would help to apply for MFE?
3、If the thesis is not ready to be published, will it help to apply for MFE?
4、Despite those I've been thinking about, what else can I do to promote my background?
5、Since the second half of my Senior year has no courses, what should I do before the application results come and after?

I'd appreciate for your comments and advices!~~

 

[coolharvard]

A verbal score of 300 isn't going to get you into any decent schools. It doesn't matter what score you got for quant or writing sections.

Verbal isn't as important as quant, but you have to get it closer to 500.

 

[maldini]

fall 2011 applications (queries ......profile evaluation)

hi guys...im planning to apply to universities for the 2011 program......this is my current profile

GRE- 1350 Q -770 vERBAL -580...................retaking GRE on 25th august to improve my scores in quant as well as verbal...

TOEFL - 113

Undergraduate : B.E from Mumbai University ( CGPA approx 3.1) ( we dont have gpa system )

Work EX :: I have completed one internship at a Telecommunications Firm and one in a private Financial services firm. I also have been an adjunct faculty associate (for 10 months) for Business Statistics as well as Object Oriented Programming at a college at my university while pursuing my undergraduation .

Due to my interest in Finance as a field i pursued the following certifications .

1 Certificate Program in Quantitative Finance and Risk Management
2 Certificate Program in Advanced Financial Modelling in VBA and Excel.

3 National Stock Exchange's Certification in Financial Markets (NCFM exams ) - with certifications in
1. Financial Markets and Products
2. Equity derivatives
3. Currency derivatives
4. Investment analysis and Portfolio management
5. Options Trading Strategies.


I graduated last month and am currently training at an Infosys technologies as a systems engineer and will be appearing for FRM part 1 this November .

The following are the universities I am applying to.......DO let me know which universities do I have a good shot at .

1.CMU or UCB(spring program) --- either ( not sure cause both are close to imposs to get )
2.Columbia
3.Cornell
4.NYU
5.Baruch
6.Princeton
7.Stanford
8.Boston
9.U michigan
10.Illinois Insti of Tech , Chicago
11. Rutgers , Masters in Quant Finance
12. Georgiatech
13. NTU singapore.

I would also like to know about UCLA and UIUC programs ...since they are relatively new .

Personally I think a lot of the above might be too ambitious for me .My undergraduate grades arent the best ! So i might short list and omit a few . But id like to get an opinion on which are the healthy possibilties ?

 

[Connor]

Getting a 800 quant score on the GRE is a must these days with so much competition.

I personally think applying to 13 programs is alot, pick a few programs at the top, middle, and a few on the lower end.

Check out this review on Georgia Tech: http://www.quantnet.com/review-georgia-tech-qcf-program

 

[Connor]

Your low GPA will make it difficult for you to get into top programs. Take a look at the QuantNet rankings: http://www.quantnet.com/pages/mfe-programs-rankings

You may also want to look at other masters as a way into finance, for example masters in finance or applied math

In your internship you will want to do jobs that are quantitative or programming in nature, and getting a good letter of recommendation would be helpful.

You can still list your thesis on your cv or application even if it's not published. How helpful it is will depend on whether the topic is relevant and the admissions committee.

First, you need to retake the GRE. With your low GPA you will need a 800 on the quant section and as coolharvard said at least a 500 on verbal.

Since you are unable to take anymore courses, self-study is your best option. Study some books on quantitative finance, using matlab, learn C++, refresh math, etc. It will be important on your application to show that your poor GPA/performance is in the past and that now you are serious and working hard.

 

[cestlecutee]

A verbal score of 300 isn't going to get you into any decent schools. It doesn't matter what score you got for quant or writing sections.

Verbal isn't as important as quant, but you have to get it closer to 500.

yep. i know.. and that's why i'm take GRE second time this summer.

Your low GPA will make it difficult for you to get into top programs. Take a look at the QuantNet rankings: http://www.quantnet.com/pages/mfe-programs-rankings

You may also want to look at other masters as a way into finance, for example masters in finance or applied math

In your internship you will want to do jobs that are quantitative or programming in nature, and getting a good letter of recommendation would be helpful.

You can still list your thesis on your cv or application even if it's not published. How helpful it is will depend on whether the topic is relevant and the admissions committee.

First, you need to retake the GRE. With your low GPA you will need a 800 on the quant section and as coolharvard said at least a 500 on verbal.

Since you are unable to take anymore courses, self-study is your best option. Study some books on quantitative finance, using matlab, learn C++, refresh math, etc. It will be important on your application to show that your poor GPA/performance is in the past and that now you are serious and working hard.

i do appreciate your detailed advices!! thanks!
as for other programs, i think Master in Finance may be concentrated in corporate finance, which is a different way to structural finance, or financial engineering..am i right?

Background:
School: XMU in China (211+985, not quite famous in the world)
Major: Financial Engineering & Mathematics (dual degree)
GPA: FE: overall 83.43?3.30/4.0??major 83.45?3.38/4.0??junior year 86.10?3.63/4.0?
Math: overall 79.68?2.97/4.0??major 79.68?2.97/4.0??junior year 83.63?3.38/4.0?
GRE: V 300 (8%) Q 780 (89%) AW 4.0 (41%) (I'm planning to take another one)
Maths: highlighted: Numerical Analysis (99/100), while Principles of Probability & Statistics is a shame(60+/100)
Programming: self-taught Excel VBA, have Matlab & Visual FoxPro Database Programming courses, know about eviews
Finance: some cources with high scores, but some with so-so scores.

Plans for this Summer:
Tests: Aug.6 GRE·AW?Sept.11 TOEFL?Oct.23 GRE·V&Q
Internship: a future company, for 1 month.
Thesis: working with a phd in my school.

Some Confusions:
1?With such a poor background, which programs in US may be suitable for me? Or any other programs that resembles MFE would be recommended instead?
2?What types of job should I do during the internship so that it would help to apply for MFE?
3?If the thesis is not ready to be published, will it help to apply for MFE?
4?Despite those I've been thinking about, what else can I do to promote my background?
5?Since the second half of my Senior year has no courses, what should I do before the application results come and after?

I'd appreciate for your comments and advices!~~

what happened to my post?? why it is combined with others? how I can tell which later post is reply to me??

 

[Connor]

as for other programs, i think Master in Finance may be concentrated in corporate finance, which is a different way to structural finance, or financial engineering..am i right?

Master in Finance should be a more general finance degree, but depending on the program you can take many financial engineering/quant finance electives. I suggested this as an option because there are probably more good masters in finance programs in the US than MFE programs and I think it would be better to go to a good masters in finance program over a bad MFE program.

 

[atreides]

Hi,
I was wondering if someone could evaluate my chances of getting into a good school and any recommendations on where to apply,

Bachelor in Technology, IIT Madras, 8.5/10
PhD in Engineering, worked on PDEs and numerical methods, UCLA, 3.96 GPA
Took classes in Options and Derivatives and some Fixed Income, have forgotten most of fixed income though.

Worked as a trader for 3 years in a firm in Chicago, traded options as well as futures and equities.

Well versed in Matlab and VBA, knowledge of C++
The recommendations I can get are only from graduate school.
haven't taken the GMAT yet,

will really appreciate it if I can get some feedback.
Thanks

You have a PhD and couple years of experience in the industry...Why do you need an MFE again?

 

[Andy Nguyen]

Personally I think a lot of the above might be too ambitious for me .My undergraduate grades arent the best ! So i might short list and omit a few . But id like to get an opinion on which are the healthy possibilties ?

We have reviews for almost all programs in your list. Must take a look at them before you narrow your list down to a handful.
Program Review | Quant Network

I know it must be overwhelming at first with the number of school offering MFE degree.
People who are in this game for a long time can certainly list a handful of programs worth trying.
On paper, you have a decent enough profile to make it to most programs there. In reality, your personal essay, letter of rec will play an important roles and that are something to tell without seeing the whole application.

 

[mtran]

Possible to get my application ready for next cycle?

Hi I just started looking into a MFE and I feel like my application is definitely lacking the math courses department as well as other categories. I know I need some programming.

I'm wondering what I should focus on getting completed first and if it is even possible for me to be a competitive candidate for the next application cycle. Just want to be realistic on what I'm going to need to do to get my application to be competitive.

UCSD B.S. Economics: Management Science

GPA 3.98/4.00

Math
-Calculus (Derivatives) (transfer credit)
-Calculus (Integrals) - A
-Calculus and Analytic Geometry - A+
-Linear Algebra - A+

Statistics/Econometrics/Economics
-Statistics (AP credit scored a 5/5) - should I take it somewhere for a grade?

-Econometrics (Probably/Statistics) - A+
-Econometrics (Basic Methods) - A
-Econometrics (Advanced Methods) - A+
-Econometrics and Business Forecasting - A

-Operations Research (Linear) - A+
-Operations Research (Non-Linear) - A
-Financial Markets - A

-Also had a business analyst internship, went back three times. Got a lot of experience with excel and business objects.

I'm currently studying for GRE and CFA. High expectations of getting an 800 on math (shouldn't be too hard) and passing the CFA (a little more hopeful here).

1. What classes should I take first? I'm guessing its going to be mostly math with a bit of programming.

2. Is it possible to get my application somewhat ready with promises of continually taking classes? Or should I just wait till next cycle?

Any help is much appreciated. Thank you in advance.

 

[goodstudent]

1. What classes should I take first? I'm guessing its going to be mostly math with a bit of programming.

Take differential equations, numerical analysis, programming, and maybe a prob/stat course from the math department

 

[mtran]

Take differential equations, numerical analysis, programming, and maybe a prob/stat course from the math department

Since I have already graduated does it matter where I take these classes? Or is it fine as long as I just get them done?

 

[latency]

You have a PhD and couple years of experience in the industry...Why do you need an MFE again?

well, the industry is dead now, it will take a couple of years to recover, so i thought i could go back to school to improve my skills which could possibly open more doors.

 

[TraderJoe]

Hi,
I was wondering if someone could evaluate my chances of getting into a good school and any recommendations on where to apply,

Bachelor in Technology, IIT Madras, 8.5/10
PhD in Engineering, worked on PDEs and numerical methods, UCLA, 3.96 GPA
Took classes in Options and Derivatives and some Fixed Income, have forgotten most of fixed income though.

Worked as a trader for 3 years in a firm in Chicago, traded options as well as futures and equities.

Well versed in Matlab and VBA, knowledge of C++
The recommendations I can get are only from graduate school.
haven't taken the GMAT yet,

will really appreciate it if I can get some feedback.
Thanks

Why can't you get recommendations from your previous employer? What nis your current employment status?

What is your current visa status? Is your H1-B still valid? Have you applied for Green Card? Have you used up your OPT?

UC-Berkeley likes to take students like you with 3 years work ex in Finanace and PhD from UCLA with 3.96 GPA. But your visa status may create a lot of problems in getting a job post-MFE.

If you have already applied for Green card you cannot apply for F-1 student visa because it is a non-immigrant visa. If you already used up OPT you will not be eligible for fresh OPT after MFE. If you left your previous job, your H1-B may not be valid anymore.