COMPARE NYU MSMF vs Cornell MFE vs Chicago MSFM

[JinYu]

I would go for NYU Fin Math out of those 3. I also got admits from UCLA MFE and Columbia Mathematics of Finance.Which one of these would you guys choose ?

I‘’d vote for UCLA MFE

 

[JinYu]

Thank you guys so much for voting! I will make my decision carefully. I think I will be choosing from Cornell and NYU.

 

[ICimprov]

Hi JinYu, if you decide not to go UChicago MSFM, can you refer me to this program? Thank you.

 

[JinYu]

Hi JinYu, if you decide not to go UChicago MSFM, can you refer me to this program? Thank you.

I'm not sure if UChicago accept reference. But I could try if you like. You can send me more details in PM

 

[ActuaryQFI]

Hi Jinyu,

I am making a similar decision. I am accepted to Columbia's MFE, Chicago's MSFM and Imperial's program, but I am leaning towards the Chicago program for the following reasons:
1. The curriculum is more comprehensive (which I think can help lay a stronger foundation). I currently work as a senior quantitative analyst, and I really appreciate Chicago's newly revamped curriculum with a heavy emphasis on both theory and programming. They also have some really niche courses like market microstructure that can hardly be found elsewhere.
2. The possibility to take courses from the Chicago's top economics, statistics departments or even from Chicago Booth. You can confirm this with Meredith as you will need permission from Dr. Roger Lee.
3. The project labs can give you an opportunity to casually collaborate with a wide range of industry partners and expand your network.
4. The perceived support I got from their career team and people like Meredith is great. Their people seem to be more approachable than the other programs which I have spoken with.
5. Cheaper housing and potentially lower tuition (if you received some form of a tuition waiver).
6. Chicago has a great reputation among academics. If you plan to apply to a PhD program at some point later, the rosy relationship it has with the academia can potentially help.
7. Comparably easier to practice social distancing than NYC. Lol

I know that this may sound a little bit biased because I was awarded a generous scholarship from UChicago. But I am fully confident that the program will improve significantly over the years.

 

[JinYu]

Hi Jinyu,

I am making a similar decision. I am accepted to Columbia's MFE, Chicago's MSFM and Imperial's program, but I am leaning towards the Chicago program for the following reasons:
1. The curriculum is more comprehensive (which I think can help lay a stronger foundation). I currently work as a senior quantitative analyst, and I really appreciate Chicago's newly revamped curriculum with a heavy emphasis on both theory and programming. They also have some really niche courses like market microstructure that can hardly be found elsewhere.
2. The possibility to take courses from the Chicago's top economics, statistics departments or even from Chicago Booth. You can confirm this with Meredith as you will need permission from Dr. Roger Lee.
3. The project labs can give you an opportunity to casually collaborate with a wide range of industry partners and expand your network.
4. The perceived support I got from their career team and people like Meredith is great. Their people seem to be more approachable than the other programs which I have spoken with.
5. Cheaper housing and potentially lower tuition (if you received some form of a tuition waiver).
6. Chicago has a great reputation among academics. If you plan to apply to a PhD program at some point later, the rosy relationship it has with the academia can potentially help.
7. Comparably easier to practice social distancing than NYC. Lol

I know that this may sound a little bit biased because I was awarded a generous scholarship from UChicago. But I am fully confident that the program will improve significantly over the years.

Hi, thanks for your response. But from what I've heard, Chicago's MSFM's curriculum is a little less practical. And I think Chicago's opportunity may be less than New York? As for project labs, I think all of these three programs provide project labs. But I am curious. You are already a senior quantitative analyst, why would you choose to apply for a graduate program? I am graduating this year so I don't have much work experience.

 

[ActuaryQFI]

Hi, thanks for your response. But from what I've heard, Chicago's MSFM's curriculum is a little less practical. And I think Chicago's opportunity may be less than New York? As for project labs, I think all of these three programs provide project labs. But I am curious. You are already a senior quantitative analyst, why would you choose to apply for a graduate program? I am graduating this year so I don't have much work experience.

Hi Jinyu,

Although I'm already working in quantitative finance, most of my knowledge has been limited to areas such as derivative pricing. I'm very passionate about financial engineering, so I would really like to take this opportunity to broaden my appreciation for other areas within quantitative finance (e.g. algorithmatic trading, credit risk modeling) while I am still young. For this reason, my top choices have always been Columbia (because of its track system) and UChicago (because of their curriculum and niche electives). I would also like to gain some research experience in economics/finance, so naturally it makes sense for me to be in an academic environment where I can collaborate with great researchers, professors and industry partners.

As for the Chicago vs New York question, it's ultimately an issue between supply and demand. Although there clearly are more job opportunities in New York, there are also more job applicants with strong financial engineering credentials from across the globe applying for those positions. Although arguably Chicago is not as important as New York or London as a financial centre, it plays a central role in derivative trading and has a high concentration of hedge funds and proprietary trading firms. If you are interested in working in such areas, I would say that Chicago is also a great place to consider. Also, I wanted to point out that the programs based in NYC (e.g. Columbia/NYU) or those that have strong connections to Wall Street (e.g. Berkeley) may have a higher average starting salary due to cost of living adjustments. So when making a decision about your postgraduate employment location, it's also important to factor in the costs associated with living in that city.

All the 3 programs you listed, in my opinion, are excellent choices for a fresh graduate. There are many reasons that prompted me to choose UChicago's MSFM over the other programs, but they may not apply to your case. At the end of the day, it's your decision and you should choose whichever that makes you happier.

Anyway, congratulations and It's been pleasure discussing with you. If you'd like, we can connect on LinkedIn.

 

[JinYu]

Hi Jinyu,

Although I'm already working in quantitative finance, most of my knowledge has been limited to areas such as derivative pricing. I'm very passionate about financial engineering, so I would really like to take this opportunity to broaden my appreciation for other areas within quantitative finance (e.g. algorithmatic trading, credit risk modeling) while I am still young. For this reason, my top choices have always been Columbia (because of its track system) and UChicago (because of their curriculum and niche electives). I would also like to gain some research experience in economics/finance, so naturally it makes sense for me to be in an academic environment where I can collaborate with great researchers, professors and industry partners.

As for the Chicago vs New York question, it's ultimately an issue between supply and demand. Although there clearly are more job opportunities in New York, there are also more job applicants with strong financial engineering credentials from across the globe applying for those positions. Although arguably Chicago is not as important as New York or London as a financial centre, it plays a central role in derivative trading and has a high concentration of hedge funds and proprietary trading firms. If you are interested in working in such areas, I would say that Chicago is also a great place to consider. Also, I wanted to point out that the programs based in NYC (e.g. Columbia/NYU) or those that have strong connections to Wall Street (e.g. Berkeley) may have a higher average starting salary due to cost of living adjustments. So when making a decision about your postgraduate employment location, it's also important to factor in the costs associated with living in that city.

All the 3 programs you listed, in my opinion, are excellent choices for a fresh graduate. There are many reasons that prompted me to choose UChicago's MSFM over the other programs, but they may not apply to your case. At the end of the day, it's your decision and you should choose whichever that makes you happier.

Anyway, congratulations and It's been pleasure discussing with you. If you'd like, we can connect on LinkedIn.

Thank you so much fro sharing. It's really impressive. I think you fully understand what you want to get from this graduate program and how to decide. I feel like I'm at a loss as a fresh graduate. I would love to connect with you on LinkedIn! How can I reach you?

 

[ActuaryQFI]

Thank you so much fro sharing. It's really impressive. I think you fully understand what you want to get from this graduate program and how to decide. I feel like I'm at a loss as a fresh graduate. I would love to connect with you on LinkedIn! How can I reach you?

I will send you a PM shortly

 

[kdb]

Hi Everyone,

I received admits from UChicago MSFM(30% scholarship) and Georgia Tech QCF. I know that UChicago is much better in terms of rankings and Chicago as a city is much better to build connections than Atlanta. I even have started connecting with alums of Chicago to get their opinion and will add anything new/ important that I find to this thread. I am also waiting for decisions from Columbia Financial Engineering, Cornell FE, NYU Courant Financial Mathematics.
I have already paid the deposit for GATech and I have to pay the deposit for Chicago by April 5. So doing a thorough comparison of all 5 options so that in case I get an admit from any of the other 3 around the deadline, I am ready with my decision.
So I did a rough comparison of the colleges(attached a screenshot below) of what I think is important but I wanted to know the opinion of other applicants and experts on this forum about other things that I should consider.
I'm particularly drawn to UChicago, Columbia, and Cornell at the moment, but I'm keeping an open mind until I've thoroughly evaluated all options.

I would greatly appreciate any input, advice, or suggestions from fellow applicants or experts in this community on aspects I should consider or any experiences you could share regarding these programs.

 

[kdb]

Recieved admits from NYU and Cornell today
Have the deadline for Chicago this Friday, but still confused between these options.
Would love to connect and hear viewpoints of others.
Thanks for your time!!

PS: Calculated the fees incorrectly for Cornell, it's $97k which concerns me as it's a lot higher than Chicago and not sure if the IVY tag and the NYC difference is worth it considering Chicago is doing really well in placements as well.

 

[escheffer]

Hi Everyone,

I received admits from UChicago MSFM(30% scholarship) and Georgia Tech QCF. I know that UChicago is much better in terms of rankings and Chicago as a city is much better to build connections than Atlanta. I even have started connecting with alums of Chicago to get their opinion and will add anything new/ important that I find to this thread. I am also waiting for decisions from Columbia Financial Engineering, Cornell FE, NYU Courant Financial Mathematics.
I have already paid the deposit for GATech and I have to pay the deposit for Chicago by April 5. So doing a thorough comparison of all 5 options so that in case I get an admit from any of the other 3 around the deadline, I am ready with my decision.
So I did a rough comparison of the colleges(attached a screenshot below) of what I think is important but I wanted to know the opinion of other applicants and experts on this forum about other things that I should consider.
I'm particularly drawn to UChicago, Columbia, and Cornell at the moment, but I'm keeping an open mind until I've thoroughly evaluated all options.

I would greatly appreciate any input, advice, or suggestions from fellow applicants or experts in this community on aspects I should consider or any experiences you could share regarding these programs.

I believe Columbia MFE program is only 2 semester (not 1.5 year). I would prefer a longer program, it is better for learning and quality of life as well. Regarding the city safety, I think that is very subjective and depends on where you'll live. For Chicago, if you plan to stay close to campus or in a well developed neighborhood, it should be fairly safe. UChicago has the second largest private security in the world - only behind Vaticano.

 

[joe_boy]

Recieved admits from NYU and Cornell today
Have the deadline for Chicago this Friday, but still confused between these options.
Would love to connect and hear viewpoints of others.
Thanks for your time!!

PS: Calculated the fees incorrectly for Cornell, it's $97k which concerns me as it's a lot higher than Chicago and not sure if the IVY tag and the NYC difference is worth it considering Chicago is doing really well in placements as well.

If I had an offer between NYU and Cornell, I'd choose NYU. Not even gonna spend one more second thinking about it, except if I get a good scholarship from Cornell....For me, the length of the program (2yrs) matters. I actually think many folks here underestimate how important this can be. NYU also has bootcamps before the semester which could be very very helpful if you apply your full attention to it. It is located in NYU, you can easily network, go for events, visit business schools, career fairs, companies etc. NYU is full of many opportunities and that would not stop you from applying to places like Chicago, Miami, and other financial hubs in the US. You only get to do your third semester in NY if you choose Cornell. NYU also has several course offerings and you have the chance to learn broadly and in-depth which could be helpful during job search. NYU is also cheaper than Cornell. It's a no-brainer for me but if the Ivy league tag is important to you, then go for it.

Now, we're left with NYU and Chicago..Picking between NYU and Chicago is a little bit tougher, if money is not an issue for you. Ideally, the scholarship from Chicago coupled with the reputation of the school and the program should make it the obvious choice. But if money is not an issue, NYU could be a great option for you depending on your circumstance. You can also reach out to @NYU Tandon MS FE Admissions Team if you require more information about the program. They do an excellent job of responding to all the questions here.


Left to me, I'd say you should go to Chicago mainly cos of the scholarship plus it's actually a very good school/program but it really depends on you. I wish you the best!

 

[kdb]

If I had an offer between NYU and Cornell, I'd choose NYU. Not even gonna spend one more second thinking about it, except if I get a good scholarship from Cornell....For me, the length of the program (2yrs) matters. I actually think many folks here underestimate how important this can be. NYU also has bootcamps before the semester which could be very very helpful if you apply your full attention to it. It is located in NYU, you can easily network, go for events, visit business schools, career fairs, companies etc. NYU is full of many opportunities and that would not stop you from applying to places like Chicago, Miami, and other financial hubs in the US. You only get to do your third semester in NY if you choose Cornell. NYU also has several course offerings and you have the chance to learn broadly and in-depth which could be helpful during job search. NYU is also cheaper than Cornell. It's a no-brainer for me but if the Ivy league tag is important to you, then go for it.

Now, we're left with NYU and Chicago..Picking between NYU and Chicago is a little bit tougher, if money is not an issue for you. Ideally, the scholarship from Chicago coupled with the reputation of the school and the program should make it the obvious choice. But if money is not an issue, NYU could be a great option for you depending on your circumstance. You can also reach out to @NYU Tandon MS FE Admissions Team if you require more information about the program. They do an excellent job of responding to all the questions here.


Left to me, I'd say you should go to Chicago mainly cos of the scholarship plus it's actually a very good school/program but it really depends on you. I wish you the best!

Hey
Thanks a lot for your reply and a detailed comparison. This really helps a lot. I'm concerned about the costs but also the safety in Chicago. It even has evening classes(6-9PM) which is not that safe apparently

 

[joe_boy]

Hey
Thanks a lot for your reply and a detailed comparison. This really helps a lot. I'm concerned about the costs but also the safety in Chicago. It even has evening classes(6-9PM) which is not that safe apparently

Yes, you are right. Safety is a big deal but I would like to encourage you to be unafraid. Many people go there to study, and most people graduate from the school unscathed. Safety tips such as not walking alone, not walking in the dark, taking Uber rides instead of trekking all the way, staying on campus overnight (if you feel going back home might be too late, might even be a good chance to study), squatting with a colleague on campus, etc..should be enough to ensure that you are safe. Also, you will not be there forever. It's just for a while.

But again, it depends on you. There is this thing called intuition, soul guide etc...that cannot be explained. If you are still not able to decide on an option after it all, I'll suggest you listen to the voice within. You can pray to God for directions (if you believe He exists). He will guide you if allow Him.

Regards

 

[kdb]

Hey
Yeah, trying not be afraid
Mostly will choose Chicago

Thanks a lot for your replies!!!

 

[kdb]

Just wanted an opinion if industry professionals as professors possess any advantage or disadvantage, particularly in reference to UChicago and Cornell. Chicago has industry professionals taking the lectures.