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COMPARE NYU MathFin vs MIT M.Fin

ecoskian

Joined
3/16/12
Messages
7
Points
13
Hello,

I'd like to know what you think of both programs and how they compare in terms of quality for someone looking to get a solid quantitative knowledge of finance and markets. MIT looks excellent in terms of breadth of electives (and depth of each course). NYU seems to have the better 'pre-packaged' solution.

What do you think?
 
Hi Andy, thanks for the quick reply!

The last employment report from MIT indicates that 20% of the acceptances by functional area were in the areas I'm most interested into (Quant Analysis/Trading and Sales & Trading). The program is not strictly geared towards either, but obviously the probability of getting an offer for a given position and a candidate's background are not independent, and given my background and the electives I'm planning to take at MIT, I wonder what the disadvantages might be, if any, of choosing MIT over NYU MathFin..?

P.S.: there is an inaccuracy about MIT's tuition on the program's page. This year it will be 74,500 USD
 
NYU Math:
Great location
Larger S&T and Quant Analysis alumni in NYC (major banks)
Fairly old program
well structured and geared towards S&T
Lower price tag
Smaller class size (more chances of getting hired for S&T)
MIT
Great brand name in general but program is relatively new
Courses a mismash of MBA finance courses
Option to take math courses from Math department
huge class size (120+), so more difficulty placing candidates in tough economic markets
Competition pool is strong as every one is vying for the gold prize of S&T
The above competition includes MBA finance candidates who want to get into S&T
A little heavy on the pocket

I am applying for next year but wanted to share my 2cents on how I would see the two programs. You must be very good to have gotten into both the programs but I feel NYU math is a little more selective and more intense than MIT. But if you are very brand consious you should go for MIT.

Regards,
Rambochen
 
Just curious, why are the Masters students at NYU/MIT all aiming for Sales & Trading roles (at BB?). Are they just not interested in hedge funds or middle/back office roles?
 
That applies to most graduates to be fair. It has lot to do with perceived prestige, higher pay (FO>MO>BO). Also, it's easier to get visa sponsorship from BB. Many people establish their career at BB before moving to smaller HF.
That was then. It is now.
I do not think it serves their interest to limit their job options to certain employers and roles. Any job that utilizes your degree and allow you contribute to the business bottom line, pay decent salary is a good one to aim for.
 
I'm new to this forum, so sorry Andy if my questions may seem a bit obvious. Why do many people want to move to HF, is it to do with preference to trade on the buy-side, or for whatever other reasons?
So apart from visa restrictions (i.e. for domestic applicants), what is the advantage of starting at a BB if the goal is to move to HF anyway? It seems more logical to start at a HF, if your goal is to end up at a HF anyway!
 
It has to do with the risk appetite at different stages of one career. If you just graduate and looking for your first real job, it is perceived to be a lot less risky to join a "too big to fail" global bank.
On the other hand, there are ten of thousands of small-ish hedge funds with dozen of employees and <100M AUM. The chance of these HF failing in a few years are much greater.
When you have a few years of experience, maybe you no longer like the big corp culture and the lure of money and higher position at HF will interest you more. Some people like this new change of pace.

There are people who spend their entire life working in BB and there are people who join/start HF or like culture in small firms better. It's about knowing what you love to do and find a way to get there. You will find people jumping jobs frequently, partly to chase after more money or find better job satisfaction.

This is off-topic to the OP question but I hope it gives you some idea.
 
:) Andy, you still have to answer Mr EcoSkian.. would you add your 2 cents to my 2 cents and increase the AUM for Ecoskian to decide on his final pick.. This forum is awesome to understand how folks compare institutes...
 
ecoskian said:
P.S.: there is an inaccuracy about MIT's tuition on the program's page. This year it will be 74,500 USD
Click to expand...
It still shows as 73,800 for me here. I wouldn't be surprised if tuition keeps going up but you can only update the wiki if you can link to those 74,500 figure.
rambochen said:
:) Andy, you still have to answer Mr EcoSkian.. would you add your 2 cents to my 2 cents and increase the AUM for Ecoskian to decide on his final pick.. This forum is awesome to understand how folks compare institutes...
Click to expand...
I don't know OP's background. The choice is personal and his alone.
I hope OP can find enough information here to make a well-informed decision.
 
I opted for MIT, but that's due to a very personal evaluation and to the fact that I might be a bit risk-loving at this point. To help other people that might find themselves stuck between the choice of MIT and some other good program, in my case it's definitely about the electives - you can put together some very interesting selection!

Then there's a bit of bias: I've been wanting to go to MIT for the last 12 years of my life and - for a bunch of reasons - going there for college wasn't an option, so I guess this might have slightly influenced my decision.

As for tuition, I don't think I'm disclosing any confidential information when I post this image, which is taken from the estimated expenses page of the admitted students. I guess the public pages needs some update (the employment report linked to is still the 2010 one, for instance).

expenses.png
 
Thanks for the added info, ecoskian
I updated the wiki for the 2012-2013 estimate tuition. A lot of programs websites are not kept up to date so it's always good to have our members inform us of new changes.
Looks like you already set your mind up for MIT. Whichever program you end up enrolling in, I hope you will keep us updated.
Best.
 
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