MFE Requirements

[perrewperrew]

I am a statistics major at UCSB. Probably no one has ever heard about it. Anyways I wonder if statistics would be sufficient to complete the prerequisites. Also I have taken a bunch of math classes.
As I saw on the website, many students have prior work experience before enrolling. So is work experience required? Were there any students that got admitted into MFE program right after getting their bachelors in the past?

 

[dstefan]

I am a statistics major at UCSB. Probably no one has ever heard about it. Anyways I wonder if statistics would be sufficient to complete the prerequisites. Also I have taken a bunch of math classes.
As I saw on the website, many students have prior work experience before enrolling. So is work experience required? Were there any students that got admitted into MFE program right after getting their bachelors in the past?

Stats class sufficient for satisfying the prerequisite. Work experience is not required, but would strengthen the application. About 30% of the Baruch MFE students are fresh graduates.

 

[Yuriy]

I am a statistics major at UCSB. Probably no one has ever heard about it.

Are we talking about the University of California at Santa Barbara?

 

[perrewperrew]

Ya. I am at UCSB.
Anyone knows where the fresh graduates get their bachelor from.
If only 30% are fresh grad, i kind of doubt my chance.
Can anyone list more schools in New york or chicago that have financial math or financial engineering or any related programs?

 

[Yuriy]

Ya. I am at UCSB.
Anyone knows where the fresh graduates get their bachelor from.
If only 30% are fresh grad, i kind of doubt my chance.
Can anyone list more schools in New york or chicago that have financial math or financial engineering or any related programs?

Check the wiki page, the link is in the top right corner. It has info on related programs.

Regarding 30% of fresh grad. I think 30% is not a small number and you can perfectly be one of them. Actually, many students get their BS and get jobs and then realize that they are interested in Financial Engineering.


It is interesting to note that a couple of days ago I got an e-mail with a flier about PSTAT department positions at UCSB. Looks very impressive, especially the Center for Research in Financial Math and Stats

 

[perrewperrew]

We do have a Center for financial math and stats at UCSB. It is led by a French professor who is a buddy of Bruno Dupire. I have been interested in investment banking ever since Bruno came to our school to give a lecture.
Honestly, I have nothing particularly competitive against other applicants. I have no work experience related to the field, not much extra curricular, no research experience.
All I have is a high GPa and possibly a high GRE score if I try hard.
If I score 800 quan and 600 verbal, would I stand out a bit against other applicants??
Actually would you describe your scenario like your GPA, score, extra curricular, etc before you applied to the program.

I wanna go to study in new york even more ever since I turned down the offer by stern at NYU.
I am a bit desperate since UCSB is not my first choice. I want to get out of here asap. But at the same time I am not ready for the real world. So I really hope I can go to grad school right after graduation.

Btw are you currently working on the Wall Street??

 

[Yuriy]

We do have a Center for financial math and stats at UCSB. It is led by a French professor who is a buddy of Bruno Dupire. I have been interested in investment banking ever since Bruno came to our school to give a lecture.
Honestly, I have nothing particularly competitive against other applicants. I have no work experience related to the field, not much extra curricular, no research experience.
All I have is a high GPa and possibly a high GRE score if I try hard.
If I score 800 quan and 600 verbal, would I stand out a bit against other applicants??
Actually would you describe your scenario like your GPA, score, extra curricular, etc before you applied to the program.

Btw are you currently working on the Wall Street??

UCSB is one of only a few schools that offer PhD in Financial Math. We should add it to our list of schools that offer PhD in the area You are very fortunate to study at UCSB. I think the person who got me interested in Financial Math got his PhD from UCSB.

Regarding work experience. I think work experience counts more if you go for an MBA. Some people view MFE as a ticket to Financial Industry. So I don't see how Finance experience can be a requirement for entry into MFE.
If you don't have experience, you should try to get your GRE score as high as possible, and make sure your GPA is also high.
Every year there are more and more highly qualified applicants, so it is hard to say what qualifications get you in.

In my case, I'm not working and never worked on Wall Street I'm still at school. When I applied many years ago I was working as a Data Analyst.

 

[Vic_Siqiao]

UCSB is stony brook?

 

[Yusheng]

UCSB is stony brook?

Stony Brook is SUNYSB

 

[Yuriy]

UCSB is stony brook?

Check the 3rd post in this thread

 

[perrewperrew]

I am so impressed with the friendliness in the forum. Baruch has become my first choice.
If I do get in Baruch's MFE and other programs at the same time, I would definitely choose Baruch.
I have a question regarding the admission rate. How come it dropped from 23 to 14? I thought that there is no cap for how many people that can be admitted. Shouldnt there be more people being admitted? I was kind of discouraged after I read the incoming students' profiles for fall 07.

As I was researching on the internet, I couldnt find any other less known colleges that offer FE or financial math. Anyone has any idea of what other programs that are in NY or chicago that are good but not as competitive as Baruch, cornell and columbia such top tier colleges??

 

[Andy Nguyen]

I am so impressed with the friendliness in the forum. Baruch has become my first choice.
If I do get in Baruch's MFE and other programs at the same time, I would definitely choose Baruch.

Very glad to hear

I have a question regarding the admission rate. How come it dropped from 23 to 14? I thought that there is no cap for how many people that can be admitted. Shouldnt there be more people being admitted?

The number of applicants went way up from 184 in 2006 to 336 in 2007 but the number of admitted stayed roughly the same, resulting in the admission rate went way down. I predict the admission rate for 2008 will be even lower. Less than 10% is my guess.
Baruch has no cap meaning it is free to admit only those deemed qualified. As there are more qualified applicants apply in 2008, it likely will admit more, but not by much. On the same token, the qualifications used to gauge strength of students will likely be higher. We can't use the 2002 standard for 2008.

As I was researching on the internet, I couldnt find any other less known colleges that offer FE or financial math. Anyone has any idea of what other programs that are in NY or chicago that are good but not as competitive as Baruch, cornell and columbia such top tier colleges??

For NY/NJ/CT programs, see www.quantnet.com/wiki
For more comprehensive list International Association of Financial Engineers - Academic Programs

 

[Vic_Siqiao]

I am so impressed with the friendliness in the forum. Baruch has become my first choice.
If I do get in Baruch's MFE and other programs at the same time, I would definitely choose Baruch.
I have a question regarding the admission rate. How come it dropped from 23 to 14? I thought that there is no cap for how many people that can be admitted. Shouldnt there be more people being admitted? I was kind of discouraged after I read the incoming students' profiles for fall 07.

As I was researching on the internet, I couldnt find any other less known colleges that offer FE or financial math. Anyone has any idea of what other programs that are in NY or chicago that are good but not as competitive as Baruch, cornell and columbia such top tier colleges??

because theres huge amount of applicants for Baruch last year

 

[Yuriy]

I am so impressed with the friendliness in the forum. Baruch has become my first choice.
If I do get in Baruch's MFE and other programs at the same time, I would definitely choose Baruch.
I have a question regarding the admission rate. How come it dropped from 23 to 14? I thought that there is no cap for how many people that can be admitted. Shouldnt there be more people being admitted? I was kind of discouraged after I read the incoming students' profiles for fall 07.

As I was researching on the internet, I couldnt find any other less known colleges that offer FE or financial math. Anyone has any idea of what other programs that are in NY or chicago that are good but not as competitive as Baruch, cornell and columbia such top tier colleges??

As it was pointed out above, the number of applications increases every year. I think this is due to the increasig popularity of Financial Engineering and Fianancial Mathematics. More and more people hear about it, and more apply Obviously, not everyone who wants to get an MFE is qualified.

The bottom line: this should not discourage you from applying. I think it is rather encouraging, if you get it, you will be one of the best

 

[dstefan]

I predict the admission rate for 2008 will be even lower. Less than 10% is my guess.
Baruch has no cap meaning it is free to admit only those deemed qualified. As there are more qualified applicants apply in 2008, it likely will admit more, but not by much.

That is actually inaccurate, although it might turn out to be correct.

We do not have a set number of seats. We admit everyone who is qualified. Our standards did increase every year. Whether the admission rate will be 14%, 10%, or 25% is irrelevant. What matters is that you are a strong enough applicant to be admitted.

 

[dstefan]

The bottom line: this should not discourage you from applying. I think it is rather encouraging, if you get it, you will be one of the best

I would think the exact same way, if I were an applicant.