Oxford, Columbia, Help! please

[thisischris]

Hi everyone,

I just signed up to QN, as I really like some of the insights people give about uni choice.

My situation: I applied to 7 unis for a master in finance (or some related program). I received an offer from... all. Now I am in the tough position of deciding where to go. Fortunately, I have managed to cut my options down to:
i) Princeton (Master in Finance) (+) seems very supportive (in all regards) (-) 2 years
ii) Columbia (Master of Arts in Mathematics of Finance) (+) 1 year (-) does not seem very supportive in terms of career services
iii) Oxford (Master in Financial Economics) (+) 1 year (-) UK (done my undergrad in UK, would like a change of scenery)


Please help me out! I only have a week left to decide before the offer deadlines. I would very much appreciate any opinion you can give me. Thank you very much!!

 

[alain]

- You don't want (iii) because you want a change of scenery
- You don't like (ii) because of career service
- You don't like (i) because the time. This is pretty much irrelevant so this should be your choice.

you answered your own question.

 

[alain]

those are 3 choices. You mentioned 7, where are the rest?

 

[Sherlock]

With Princeton you would be able to do an internship during the summer. If you don't have prior finance-related work experience, an internship is supposed to be a must. I would actually put a minus for the "only 1 year" length of Columbia MAFN. I would personally choose Princeton, but this is just me.

 

[thisischris]

Well, I had an internship with an investment bank in london. Also, in terms of WE vs academia, almost everyone I talk to tells me that an extra year in the city is worth so much more than an extra year at uni, for someone looking to embark upon a finance career.

 

[roni]

How can you be considering "ii" when you have Princeton and Oxford on the list?
If you had Columbia MFE, I think it would be worth considering it. But it is hard to choose Columbia when you have Princeton as the other option.
Where do you want to work after graduation? US or UK?

 

[thisischris]

that's another very good point: I'd really like to study in the US to find out whether it's a place worth considering for work later on...

 

[SagaG]

I'm pretty new on the forum but allow me anyway: you've answered your question ! You want to discover the US and you have this amazing program accepting you, go for Princeton

 

[roni]

So, if you would like to study in the US to learn about its job market, Oxford is not an option for you. Now, you narrowed it down to Columbia MAFN and Princeton. I choose Princeton all the way just because Princeton is Princeton and people don't always say good things about Columbia MAFN.
Did you read the program reviews?
http://www.quantnet.com/review-princeton-master-in-finance-program/
can't find a MAFN review, but I'm sure we had one.

 

[lonely]

Princeton beats every mfe program hands down....remember with Princeton program you will not only have chance for quant jobs which are back office jobs at wall street but you will have chance to work at PE/M&A and sales & Trading role which are actual front office finance jobs. Just look at their past students profile all of them have landed fantastic job offers. Plus another advantage you have being un experienced is that you will be good candidate for sales & trading roles as experienced candidates are not considered for these roles.

There is nuthing like Princeton MFin program

 

[roni]

remember with Princeton program you will not only have chance for quant jobs which are back office jobs at wall street

As far as I know, quant jobs are not all back office, pretty much depends on what quant job you do.

 

[thisischris]

Thanks for the posts; I see quite a pattern here with Princeton. Looking at some other threads, Princeton does seem a bit more promosing.

However, is it worth going there if it would potentially cost me an extra year?

 

[lonely]

@roni

I think if one think about career in corporate world(like in Finance here) then you have got to be in Bank and in banks with winding down of prop trading and almost non existent structuring roles, all you are left with are risk management jobs, client order executing and may be some quants helping traders on some trading desks(again back office). now if you go to hedge funds you are looking at stat arb/ high frequency stuffs, and HF trading is not a finance job, its a tech job, and nobody is making anything in strat arb these days. Now with other hedge funds like long/short and distressed asset(again real finance jobs)(again r, Princeton program is far better as it gives you wholesome picture of finance and in a way is playing dual role of MBA and finance degree

No offence buddy, myself a quant but it is what it is

 

[alain]

However, is it worth going there if it would potentially cost me an extra year?

Sincerely, where do you want to go? As I said before, time is irrelevant. It seems that after taking the pluses and minuses you stated, Princeto seems to be the choice. Then, there are 10 posts saying the same thing (some logical posts, some subjective). However, you are still looking for a way not to go to Princeton. So, again, where do you want to go? I'm sure as hell is not Princeton.

 

[roni]

@roni

I think if one think about career in corporate world(like in Finance here) then you have got to be in Bank and in banks with winding down of prop trading and almost non existent structuring roles, all you are left with are risk management jobs, client order executing and may be some quants helping traders on some trading desks(again back office). now if you go to hedge funds you are looking at stat arb/ high frequency stuffs, and HF trading is not a finance job, its a tech job, and nobody is making anything in strat arb these days. Now with other hedge funds like long/short and distressed asset(again real finance jobs)(again r, Princeton program is far better as it gives you wholesome picture of finance and in a way is playing dual role of MBA and finance degree

No offence buddy, myself a quant but it is what it is

I never said you were wrong
Thanks for clarifying it for me.
So, those quants that determine prices (e.g. derivatives packages, etc.) are considered back office and not front office?

 

[lonely]

@roni

unfortunately yes. I think there is pretty simple yardstick, are you directly making money?if not hen you are not a front office guy, you may call him whatever you want(I call back office bit hard on myself as these jobs are not really badly paid). Most of these pricing stuffs are done by valuation groups, which are not again front office jobs, I have couple of close friends who do that as well

 

[Andy Nguyen]

I also need to remind you that the people speaking highly of Princeton may well not be the ones studying/graduated from the program. Same thing applies to negative comments about other programs. This is internet after all.
@bluechimp can give you much better insights.

While Princeton has done a much better job, every program has something they want to sweep under the carpet. Your job is to find the people who can tell you.

 

[lonely]

Also by and large I have seen two broad routes to these front office jobs. Either getting hired directly after undergrad or MBA if you are in a really good school or you are from good school but did not manage to get through campus hire but know somebody who works in front office role who can help you in getting hired. Most of the people come through these 2 channeles

 

[thisischris]

I am leaning towards Princeton now. I did hear a lot of good stuff about the MIF. The only issue I had with the program was that it lasts 2 years, but - as time seems to be deemed irrelevant these days - I guess princeton is where I'll be headed to. THANKS for all your comments!!!

 

[ICQuant]

I won't go into details here, but I believe that Princeton is the best by far and I am sure you will regret it one day if you don't go there...
At the same time, at this point in life and with all the information available for you on the net, I don't see a reason why to ask for others to choose for you...
Good luck