COMPARE MIT MFin vs Columbia MSFE

[Yiiiiiiiii]

MIT offers $31,000 fellowship whereas CBS doesn't. I think MIT has better reputation than Columbia but CBS's curriculum seems to be broader and deeper.

I really don't know which one to choose. Any suggestions？
I chose CBS instead of Columbia Financial Engineering so I have declined MFE's offer.

Thanks!!!!!!!

 

[cheron_jrm]

I would go for MiT if you want to work in quant finance. What is you professional goal ?

 

[Yiiiiiiiii]

I would go for MiT if you want to work in quant finance. What is you professional goal ?

Actually, I prefer working in asset management / PE / Macroeconomic Analysis to Quant Finance, which made me choose CBS instead of MFE. But, I also embrace jobs in quant finance depending on the opportunities I can get in the future.

 

[cheron_jrm]

In this case Columbia makes sense. I think both are good. I'd advise to go where you'd be more happy. I'd personnaly go for MiT as I'd like to take courses in ML/CS, and because I'd be pleased to study at MIT

 

[fsez]

It depends. I am choosing Columbia MSFE over MIT MFin because of the curriculum, the small class size and the New York advantage. MIT has a great better brand name, but afaik, I the MFIN programme is not generally preferred over columbia financial engineering ( whether you chose MFE or MSFE is upto you).

 

[Yiiiiiiiii]

It depends. I am choosing Columbia MSFE over MIT MFin because of the curriculum, the small class size and the New York advantage. MIT has a great better brand name, but afaik, I the MFIN programme is not generally preferred over columbia financial engineering ( whether you chose MFE or MSFE is upto you).

Thanks! I also prefer Columbia MSFE especially because of the curriculum. Look forward to joining the program!

 

[devconnolly]

Happy to chip in on this as a current MFin student. I agree with the point above about exposure to ML/CS classes being a big plus (I'm going into quant finance as well). The flexibility of the curriculum here is really helpful in my opinion - allows you to explore a lot of different avenues. The brand name, as you mentioned, really is second to none, which can get you in the door for an interview at quite a lot of places.

Distance from NYC has proved to be no barrier it all - it is pretty close, and we get brought up by companies pretty regularly.

 

[codebreaker]

why not choose columbia mfe

 

[IntoDarkness]

the ladies in columbia are hotter

 

[Eddyteddy]

Here are a few reasons why I would choose CBS over MIT. ( MIT is a great programme and has a brand name much better than columbia ). BUT.

1. MSFE has a small class size. About 15 students and every student knows each other and the faculties. This situaation is quite similar to princeton mfin in the sense that you form a close group. MIT has a humungous class size and you simply cannot know know your faculties as well as you would have at CBS.
2. At MIT the faculties are mostly busy and a lot of classes are taken by TAs. CBS treats MSFE as a good research programme and so you get a lot of attention and opportunity to interact with the profs.
3) Columbia MSFE allows you to take up TAship and RAship. You make little money, but the opportunity to work in projects is amazing and this also helps you connect with MDs in banks.
4) New york advantage is not just in terms of getting the jobs but also in terms of the network you'll build. MIT as a brand name will help a lot, but your network can help you much more.
5) Curriculum! MSFE hands down. There is no comparison here.

 

[fsez]

I think both the programmes are honestly quite good! It all comes down to individuals with different goals and priorities. Some people are less interested in Quant, some want to settle in Asia, some want to stay in New York.... It is all about individual preferences.

 

[Qui-Gon]

If you see your future in the finance world, then business school is not the right option for you.

This is simply not true.

 

[devconnolly]

Here are a few reasons why I would choose CBS over MIT. ( MIT is a great programme and has a brand name much better than columbia ). BUT.

1. MSFE has a small class size. About 15 students and every student knows each other and the faculties. This situaation is quite similar to princeton mfin in the sense that you form a close group. MIT has a humungous class size and you simply cannot know know your faculties as well as you would have at CBS.
2. At MIT the faculties are mostly busy and a lot of classes are taken by TAs. CBS treats MSFE as a good research programme and so you get a lot of attention and opportunity to interact with the profs.
3) Columbia MSFE allows you to take up TAship and RAship. You make little money, but the opportunity to work in projects is amazing and this also helps you connect with MDs in banks.
4) New york advantage is not just in terms of getting the jobs but also in terms of the network you'll build. MIT as a brand name will help a lot, but your network can help you much more.
5) Curriculum! MSFE hands down. There is no comparison here.

Given that @Qui-Gon handled the claim above, I'll try handle some of this:

1. I would agree. Small class size is definitely better, and I think MIT are going down a slippery-slope with their class size (quality vs quantity etc.)
2. Disagree - I did not take a single class that was led by TA's. MIT has arguably the best research programs in the world, and there are substantial opportunities to get involved in these (obviously not for every one of 100+ students).
3. MIT strongly encourages TA'ship as well - I did one, and could have done up to 3, and was paid handsomely. It covers about a third of a semester's tuition. RA'ships are similar, and I know at least 10 students were offered research positions this summer when the pandemic impacted internship offers.
4. Brand name builds network, imo.
5. What is the basis of a hands down no comparison? At MIT, you have the whole wider MIT campus available to you. Computer science, mathematics, deep learning, economics, business analytics, data science - the list goes on. It is about as flexible as a program can get. Perhaps each curriculum is better suited to different career paths (an aspiring market-making quant may want to do a MFE), but a quantitative developer or researcher can more than reasonably craft a suitable curriculum at MIT (as I did).

Definitely pros and cons to both program, but I don't think the blanket, and often incorrect, claim that CBS > MIT is productive.

 

[Michsund]

I think if you get a 31k scholarship to MIT you should definitely join. Unless you get into somewhere else even cheaper

 

[BeckyBian]

Hi guys, I was an applicant for MFE programs during the 2023 fall. And I was lucky to be admitted by Master of Financial Economics at Columbia Business School and MFin program at MIT Sloan. And I'm choosing between these two schools as I heard some one telling that MIT Sloan does not have as many alumni in finance or banking as CBS does. So I'm wondering if anyone can offer some suggestions for the program selection. Thank you so much for the advice!

 

[LA Quant]

Can't go wrong with either. I would say the CBS curriculum has a slight edge if you're going for pure quant roles. CBS is also right in NYC which can be an advantage. All depends on what you're going after (career goals, city preference, etc. )

 

[Andy Nguyen]

@BeckyBian
Congrats of getting two admits from Columbia Business School and Sloan.
Would be great if you can add your profile and application timelines on the Tracker?
This way, it's easier to find and connect with people who going to be your classmates.

 

[Eric Jacquier]

A key difference is that the MIT Mfin will have more students interested in Corporate Finance than the Columbia MSFE. These students may be interested in careers in the financial arm of non financial corporations. They will not end up in banks or asset management companies. A number of the courses are high level Corp. Fin. courses.
Sloan is a MSc in Finance not in Financial Engineering. Corp. Fin. courses are rare to non existent in most MFE or Math. Fin programs. That said, obviously both places will have stellar faculty teaching you and you will have great class mates. Deciding how deeply engineering based you want your finance should be a key to your decision.