Need some help deciding b/w diff programs

[DMX]

Just some background:
Did an undergrad math / econ degree at a top10, currently working as an analyst in risk management at a large investment bank.

Even though I have a math/econ background, my math classes were 'light' on quant finance stuff (no diff eq, no stochastic calculus, only 1 course in linear algebra / stats / econometrics, no time series analysis...). most of my higher level math classes were in stuff like manifolds, analysis, number theory (which were interesting, but not, in my opinion, as relevant to quant finance). To further compound things, I have virtually 0 programming experience.

Given this, I'm thinking of doing a Master's degree part time at Columbia to give me more of a true quant background, and help me move to a front office quant position. I have a few questions though:

1. I would be doing the program part time (firm pays for it); are part time programs easier / harder to into? Or the same?

2. Columbia has both a MA in Stats and MA in Mathematics of Finance program. I'm leaning towards stats because (a) it has less requirements, and therefore I can finish the program more quickly, (b) if I want to move out of finance, MA in stats would be looked upon more favorably, (c) you can take a lot of the Finance courses (stochastic calculus etc.) as electives. Are my assumptions wrong? I've searched for threads concerning the differences between the two programs but haven't had much luck in terms of getting answers.

3. How does the NYU program compare to Columbias?

4. I am by no means a math genius. I had a great undergrad gpa (3.95) but that was mostly due to my taking the easier math classes in college. Also, given my 0 programming background, would I get eaten alive in a masters program?

5. I've talked to several quants at my firm, and many of them have said that the day to day functions are much 'easier' than the stuff they learned in their MFE/phD programs. How true is this? Does it depend on which desk? (for example stat arbitrage seems to be, from a mathematical perspective, pretty simple).

Thanks again and this website is a godsend!

 

[goodstudent]

Also, given my 0 programming background, would I get eaten alive in a masters program?

If you are one of those people who are natural programmers, then you would be fine. But otherwise yes, you will get eaten alive.

Programming in general is extremely hard to be picked up by someone who has full-time work and part-time school going on at the same time.

 

[Connor]

I'll try to answer your questions best I can.

1. I don't know for sure but I imagine that part-time programs are a little easier to get into. But will still be very competitive.

2. I believe I looked at Columbia before and the MA in stats basically allowed you take many/most of the MFE type courses. I agree with you on going for the MA in stats though, you can still take finance courses, I doubt employers will look down on it and it gives you more flexible for jobs outside of finance. Plus I've seen risk management jobs specifically ask for stats degrees.

3. No idea, but both are great universities. I would apply to both and only worry about deciding which is best if I got accepted at both.

4. I think "eaten alive" is a little extreme but I agree with goodstudent that learning to program while working full time and doing a part-time masters will be difficult. But on the one hand, it being a part-time masters you can chose a slower pace. Some full-time MFE programs are considered very intensive in programming.

But unless you have already applied you will be looking at starting Fall 2011, giving you time to learn some programming. Look at the courses you would take and see if they mention a specific language, or email and ask what programming languages are used/needed.

5. No idea but I imagine it depends on your role and the desk.

Good luck!

 

[DMX]

O I should have clarified, I have 0 programming experience in MATLAB/C++/C#/JAVA/R etc (i.e. the quant languages).
I do have programming experience in VBA, SQL, and I am pretty good at making macros, but I'm not sure how transferable Excel VBA skills are to the more 'robust' languages.

 

[ddepaul]

DMX,

I'm a software engineer at an aerospace software company and have looked at a lot of different comp sci/programming books through the years. I would suggest the following book if you are going to learn Object Oriented Programming and C++.
Stroustrup: Programming -- Principles and Practice Using C++
I don't use Matlab but all the aerospace engineers I work with who are not comp sci guys say it is not difficult to pick up. Moreover, the ideals and concepts you will learn in the book will translate to Java and C#.

 

[esahione]

O I should have clarified, I have 0 programming experience in MATLAB/C++/C#/JAVA/R etc (i.e. the quant languages).
I do have programming experience in VBA, SQL, and I am pretty good at making macros, but I'm not sure how transferable Excel VBA skills are to the more 'robust' languages.

VBA is a scripting language, the other languages are object oriented. They are completely different. But you can always take a course in C# or C++ before applying. In a week or two you can probably learn enough of the basics to get accepted.

 

[Connor]

If you know VBA well you should be able to pick up other languages, once you know the basics its largely about syntax until you get into deeper stuff.

Learn C++ and R.

 

[abcdefh]

Unless you love MFE and tech stuff, MBA is probably a better option for you.

 

[DMX]

Any more thoughts/opinions?
abcdefh; I want to do the program part-time so MBA would be less of an option (MBA takes longer)