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CFA, especially level I can give you the basic knowlege of finance...but to understand how product priced or structured, it's better to take MFE. For trading, it's big plus you know the prudocts well, but not necessary to go through MFE to be a trader......I MAY BE WRONG :)

Not necessary but wouldn't it help a lot of have a MFE when applying for a trading position. Maybe I'm into the wrong thing. The pits are drying up and i just want to find out where the pit traders are evolving to. I was assuming MFE. Could be completely off.
 
If you are into automated trading, then MFE is the way to go. There is no way CFA will give you the technical training required to do the job. With MFE, you at least have the background to build/test pricing models.

If you just want to know the product without the technical details, maybe CFA is enough but trading has evolved to be more technical than ever. Knowing the math, the programming, the risk aspect of each model is what required of future traders.
 
Hi all,

My name is Li, and this is my fourth semester in the MFE program. A CFA level III candidate, I am preparing for a career in equity research and portfolio management.
 
Hi Everyone !

I have been a latent member of the forum, would look forward to becoming an active member now. My profile is below, I welcome any feedback/suggestions:


Work Experience: I have been working in foreign exchange and fixed income derivatives for the last 3.5 years with Private Sector Banks in India.

Academics:
MBA (Finance): SPJain Institute of Mgmt and Research, Mumbai
Graduation : BA(Econ-Statistics), St. Xavier's College, Mumbai
Completed Financial Risk Manager (FRM) Certification organized by Global Association of risk Professional (GARP) in Nov 2003.

C++ Programming - Intermediate

GRE : Q:780; V:580; AWA:5.5

Cheers!
Tushar
 
HI, Tushar, I think you've already stepped into the world of IB. You have a strong profile and good luck. Welcome to the board.
 
Hi Tushar, from your profile, you seem to be a good fit for the program. I think you would like what we do. I'd be interested in hearing how you think a MFE would further your career.
 
Thanks

Hi Yan He, Woody, Russian Mike

Thanks for your appreciative and encouraging welcome.

About my career plans, I believe MFE would help me to deepen my knowledge base into derivatives. Though I have been actively associated with the field and have studied many of the subjects during my undergraduation/MBA - I feel it is only through focussed study I would be able to gain expertise in the field. I also intend to pursue a Ph D at a later stage.

Also, I believe MFE would be a catalyst to speeden up my career growth.

Woody, I understand that approx. 8% of the students target a Ph D after graduating from Baruch. What are the options available if one wishes to pursue Ph D after 1-2 years post-MFE? Does the industry support research initiatives ?

and Yan He, I would keep my fingers crossed for good luck :)

cheers
Tushar
 

dstefan

Baruch MFE Director
Woody, I understand that approx. 8% of the students target a Ph D after graduating from Baruch. What are the options available if one wishes to pursue Ph D after 1-2 years post-MFE? Does the industry support research initiatives ?

Usually, people go full time for a PhD, so there is no question about industry support. Our graduates actually went for a PhD directly out of the MFE. The profile of our students is evolving, and I do not expect anyone from the current class to do so.

Some of our alumni, successful in their work in the financial industry, keep contemplating going for a PhD (in Finance or mathematics). They are not acting on it just yet, the better the compensation, the harder it is to give up the income for four-six years.

Bottom line: go into the MFE with an open mind, work in industry upon graduation for a couple of years, and make a more informed decision after that.
 
Hello Everyone

This is Radha, an applicant for the MFE program at Baruch.

To begin with, here is my profile :

Work experience: ~ 5.5 years
2 years of financial modeling and analysis: - Developing mortgage prepayment models, Customer Pre-acquisition analytics, Due-diligence on Credit Card Portfolios etc. My work primarily involves using advanced statistics to build models and help clients execute the models. Presently, I am working on building an asset acquisition model for my current employer.

3.5 years in IT domain - Variety of roles and responsibilities. I have worked primarily on J2EE for developing service applications and C++ for developing a CRM product. I have programmed in a host of languages depending on the situation and the need, but mainly it has been Java and C++.

Academics:
MBA (Finance): Indian Institute of Management Indore
B.tech: Indian Institute of Technology Madras
GRE: Q: 800; V: 680; Analytical Writing: 5, TOEFL: 283



I have a few questions and would be happy if any of the current students could provide some pointers
  • At least from my experience I have felt that access to industry data in academic programs sometimes is an issue. Is there any constraint on that front at Baruch? Is there a possibility of getting data with sensitive data encrypted, so that students can work on it?
  • Being in NY should be helping Baruch in a big way. To what extent does the industry interaction help the students? Are there regular lectures from the industry / fin community? Are there any discussions on some specific business questions which Baruch students can work on?
Also any of your feedback on my profile would be immensely helpful to me.

Regards
Radha
 
Strong profile. With regards to first question: Access to industry data, I think you can appreciate why an investment bank may not want to share research not meant for its non-clients etc. I do not think it has anything to do with being in academia or not.
Regarding second question, Baruch has many lectures from finance practioners. Check out the list at http://www.baruch.cuny.edu/math/masters_quantnet.html.

There has been some discussion of doing something (specific business questions/needs) that our MFE students may work on but nothing concrete at the moment as far as I know. Since I am not a full-time student I am not sure to what extent I would be able to participate so my knowledge is limited in that respect.
 
I have a few questions and would be happy if any of the current students could provide some pointers
  • At least from my experience I have felt that access to industry data in academic programs sometimes is an issue. Is there any constraint on that front at Baruch? Is there a possibility of getting data with sensitive data encrypted, so that students can work on it?
To learn the basics of Financial Engineering you don't really need any real-time data. However, the Subotnick Center has 42 Reuters and 2 Bloomberg workstations which are available for Baruch's students.

http://zicklin.baruch.cuny.edu/centers/subotnick

  • Being in NY should be helping Baruch in a big way. To what extent does the industry interaction help the students? Are there regular lectures from the industry / fin community? Are there any discussions on some specific business questions which Baruch students can work on?
We have numerous talks from professionals working in the Financial Industry. On a top of that, it will be much easier going to interviews living in New York, because you don't have to travel. In addition, there are many seminars, talks, expos are running in New York all year, so if you have time (this will be a huge issue while studying in the program) you can attend all those events.


Overall your profile is very strong, and I think you can do well and benefit from our program. Good luck with your application. I hope to see in the Fall ;)
 
Welcome Tuskul,
Dan is very right about that. The MFE opens a window for you. You will get a taste about different things, they ranged from very hands-on stuff like derivative programming, or very practical investment operation, to some very research based mathematical/financial topics. After that, you will know better what do you really like to do. For most of us, MFE maybe our final degree in our life. :) Of course some of us after completing MFE, and feeling it is not enough, so they went on for their PhD study.

Remember most of the PhDs working on the Street (someone told me more than 75%), had their PhD degrees (mainly hardcore science/engineering) way before they know they will work in financial industry.

Unless you are very sure that you heard such a call in your life:" I want to get a PhD in XXXX, because I really love XXXXX." If not, I won't suggest you to go for a PhD directly.
 
A Big hello to all!

Hi All,
Specially a big hello to Yan He.
I have sent my application to Baruch for the MFE, but my profile is not as strong as some of you.
I have graduated from Bachelors in Engineering from Mumbai University in Automobile in June 2006.
Currently I am working with BNP Paribas in setting up operations for a company they own in Mumbai, INDIA.
Finished Engineering with a First Class.
My GRE is not so impressive Q690 V560 and A3.5. Was too petrified of the GRE and then realised I just made a big deal of it.
I have done some courses in C,C++, Visual Basic and well versed with MS Excel. Since I have graduated from a pure science field, computer programming had not been emphasised as much. Played more with forces :)
I intend to take on learning Matlab, and Java. Is there anything else I can do to strengthen my application to Baruch.

I am really keen on getting an admit from Baruch. I am looking forward to all the support in terms of queries about MFE.
Thanks in advance :)
 
Hello to all

Hello all ;-)

My name is Jason and I have an application into Baruch for the MFE program. Hopefully will see you in the Summer. Good luck to everyone else applying!

-JK
 
I intend to take on learning Matlab, and Java. Is there anything else I can do to strengthen my application to Baruch.

Well I would suggest to work more on C++ : for the program specially we use ONLY C++.... personally I dont know any JAVA, andi think if you know one oop language you can easily migrate to any other oop.....
I would suggest to have a deeper understanding about C++ ( for instance a second course in c++ based out of meyers book) than learning a new language....

Although as has been repeatedly said on this forum, none of us are involved in admissions so can't really help with application specific question.... Having said that, its always nice if you have relevant work experience....

I am really keen on getting an admit from Baruch. I am looking forward to all the support in terms of queries about MFE.

You are at the right place ... just post your queries on Quantnet....
 
hi

Hello to everybody. I am John and I am in the process of finishing my PhD in structural dynamics of offshore wind turbines. My PhD is in Trinity College, Dublin and also Technical university of Berlin. I am Irish. All of my programming is done through Matlab.
I have an upcoming phone interview for a quant position in fixed income next week. I am not sure as to what level my C++ must be as I havent programmed with it since 4 years ago. I would also be interested in taking a course in quant finance.
I'm very pleased to meet you all and hope life is good to you!
 

kean

Mathematics Student
Hello

This is by far the best student forum that I have ever encountered.

Thank you Mr. Andy. You did a great job.
 
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