MFE Questions

[Chao He]

Hi guys,

I am currently a last year undergraduate accounting student. I am interesting in the MFE program. Although I have a lot of finance knowledge (fixed income management, derivatives, etc.), I don't have sufficient math skills for the program. What is the best way to upgrade my math and programming knowledge? Is it worth to take a second undergraduate degree of math or cs?

Btw, I want to have a job in quantitative asset management, such as portfolio analyst. Is MFE enough for the job, or I should consider to take a PhD?

Thanks.

 

[Lyosha]

Well, a good starting point for a request for advice would be to tell us what exactly you mean by "I don't have sufficient math skills". Does that mean you got a C in calc1 or does it mean that you're not sure if you are qualified for an MFE because stochastic calculus wasn't offered at your university?

This also heavily depends on the programs you are trying to gain admission to, and, for example, if they offer refresher seminars in mathematics which may help you fill in the holes in your understanding.

Programming can be picked up rather handily by those with talents for it, however, I've seen many an otherwise-smart person struggle with the abstract thought that being an effective and efficient programmer requires. Thankfully for you, even the most programming-intensive requirements (i.e. Baruch MFE's) are met with a basic programming class, or self study really, but just realize that you'll have a harder time demonstrating aptitude without a grade next to a class. Just realize that if a program requires something of you, you are likely to have to use it a lot, and you should be sure you are very comfortable with it.

I personally would never consider getting a second undergraduate degree. Take night classes at your local uni if necessary as an alternative...

 

[Chao He]

Well, a good starting point for a request for advice would be to tell us what exactly you mean by "I don't have sufficient math skills". Does that mean you got a C in calc1 or does it mean that you're not sure if you are qualified for an MFE because stochastic calculus wasn't offered at your university?

This also heavily depends on the programs you are trying to gain admission to, and, for example, if they offer refresher seminars in mathematics which may help you fill in the holes in your understanding.

Programming can be picked up rather handily by those with talents for it, however, I've seen many an otherwise-smart person struggle with the abstract thought that being an effective and efficient programmer requires. Thankfully for you, even the most programming-intensive requirements (i.e. Baruch MFE's) are met with a basic programming class, or self study really, but just realize that you'll have a harder time demonstrating aptitude without a grade next to a class. Just realize that if a program requires something of you, you are likely to have to use it a lot, and you should be sure you are very comfortable with it.

I personally would never consider getting a second undergraduate degree. Take night classes at your local uni if necessary as an alternative...

Thanks for your opinion. The sentence “I don’t have sufficient math skills” means that I only took basic calculus and statistics as accounting major required. Although I got both A+ on the two courses, most math courses required by MFE I didn’t take, such as linear algebra, real analysis, etc. I want to upgrade my knowledge about this area. For programming, when I was in high school, I learned some Pascal. I felt good when I did some programs with Pascal.

 

[Connor]

I think it depends on your situation and university. Can you extend the length of your undergrad degree? Afford to? Would you rather take a few extra semesters now or take night classes while working?

After graduating, whether just taking the needed classes or getting another bachelors is up to you, but if you have the option to delay graduation to get another major or minor in math I think I would go with that.

Take at least an intro to C++.

 

[Lyosha]

Most universities nowadays seem to offer Java as their "introductory" language, which should be fine, although C++ is preferable.

You'll want to have taken linear algebra before you enter an MFE program for sure. I would suggest taking it prior to applying, whatever that means to you (i.e. night classes).

 

[Yike Lu]

Real analysis may be overkill, but you definitely want some knowledge in basic mathematical logic. If you can find a course for that, take it.