Profile Evaluation

[Vaibhav Dhabaria]

Hello All,

Please kindly evaluate my profile and help me select an appropriate college.

College
1) Masters in Economics from Fergusson College, Pune University- One of the top colleges in India- Scored a First class with Distinction.
2)Bachelors in Economics from Scottish Church College,Calcutta University-- I got a Second Class here but want to mention that 95% of the students scored a Second class and that's how the university functions.
My course work includes lots of Mathematical and Statistical topics like-- Differential and partial derivatives, Regression, Normal & Poisson Distribution , etc.

Work:
I) Currently from last 1.5 years I am working with Bank of New York Mellon, India. I have worked on the following projects-
1) Studying the Sovereign Risk Profiles of Emerging Economies like- Poland, Romania, Turkey and Hungary.
2) Macro-Economic analysis of economies like South Africa, Nigeria and Australia.
3) Developing a Sovereign Risk Watch list for Emerging Markets and Developed Markets.

All of the above includes extensive use of statistical techniques like Regression,Standard Deviation and using of concepts of Normal Distribution.
Extensive use of Bloomberg and Datastream was done to collect the data.

II) My college internship project include writing Newsletters for my company(Birla Sun Life Mutual Fund) on Macroeconomic Indicators.

I will be giving the GRE in two weeks time. I expect to score in the range of 320-325.
Considering my profile and my GRE score, which colleges should I apply. Also, I would prefer getting a scholarship any day.
Here is my list. Please suggest.
1)CMU
2)UMN
3)Uni. of Washington
4)Rutgers
5)Stevens
6)Georgia Tech
7)NC State
8)UNC
9)NYU poly
10) SUNY buffalo


Thanks in advance.
Vaibhav

 

[Azamat Bagatov]

Just my opinion:

The MFE courses are very heavy on programming. You could try at math-intensive MSMF program but they'd still require some working knowledge of a programming language. Your profile is impressive but I don't see that component. I think you have a better shot at MSF than MFE.

 

[Vaibhav Dhabaria]

Yes.. that's the reason why I want to pursue it.. because its a nice blend of Maths and Programming knowledge..
my knowledge of programming is very limited..
I have done C++ in my high school.. And SPSS and a bit of STATA in my Masters. that's it..
and while working on my projects in office have worked with few advanced formulas in Excel..
Do you think this can create a problem in my admission??

 

[Azamat Bagatov]

I know that it is a very important aspect of your application since the programs themselves are highly computational but I do not want to assert since I've seen econ majors and stat majors without prior experience make it to these programs (refer tracker, go through them until you find a match). Also, like @Andy Nguyen says, it is always efficient to find a good developer and teach him finance. Vice versa, not as much. If I were you, I would go through the program websites or speak to the grad co-ordinators to know what kind of effect this could have on my chances before I go ahead and apply.

You might already know this but at FE jobs, you'd be spending most of your time coding.

 

[Vaibhav Dhabaria]

@Azamat Bagatov : Your last was very informative . Thanks a lot.. I obviously want to learn programming which helps me build Models and tools that I can imagine while thinking of theories.. But I don't want to do coding 24*7...
Keeping these things in my mind what do you thing about these programmes:
1) UMN - Financial Mathematics
2) Rutgers - MSMF
3) UNC- Mathematical Finance

And any other suggestions?

 

[Azamat Bagatov]

Vaibhav, you may have to go through the curriculum of these programs to have a better idea. I do not know much about them. Also, add Boston's MSMF, Columbia's MathFin and MA stats and NYU's MF programs to your list. You should be able to find the info without any difficulties. Again, I'm not very certain about their curriculum.

 

[Vaibhav Dhabaria]

ok..
I will surely look into that..!!
THanks a lot.. :D

 

[Vaibhav Dhabaria]

@Andy Nguyen : any advice .. Please.!!

 

[Diego Ocampo]

Hello All,

I will be giving the GRE in two weeks time. I expect to score in the range of 320-325.
Considering my profile and my GRE score, which colleges should I apply. Also, I would prefer getting a scholarship any day.
Here is my list. Please suggest.
1)CMU
2)UMN
3)Uni. of Washington
4)Rutgers
5)Stevens
6)Georgia Tech
7)NC State
8)UNC
9)NYU poly
10) SUNY buffalo


Thanks in advance.
Vaibhav

You may consider @Rutgers FSRM program too, you can take a prerequisite programming course during the first semester:

http://fsrm.rutgers.edu/admissions-130/prereq

 

[Vivek Ahluwalia]

Hi All,

Please evaluate my profile for programs shortlisted below. I had posted in a thread earlier but not much of response.

1. Masters Degree in Engineering Management from Duke University, with Focus in Finance (3.75/4) with A grade in all quant and fin courses
2. BTech from IIT (Indian One) (GPA 7.7/10 with Average Grades in Math Courses)
3. 5+ Years of Work Experience in Quantitative Equity Portfolio Management and Quantitative Equity Research with One of the top most financial services firm in world, hands on experience in Quant equity strategy, Portfolio Allocation for Top Most Asset Management Firms in the World
4. FRM holder and CFA Level 3 Candidate
5. GRE (Quant - 167, Verbal - 160, AWA - 3.5) ( I hope AWA wouldnt cause any problems )
6. Can crack Essays and will get strong recommendations.

I am looking for a program with good courses and Faculty on Asset Management Quant and offcourse strong placements and alumni network.

I have shortlisted following programs : -

1.) UC Berkley MFE
2.) CMU MSCF
3.) NYU
4.) Princeton
5.) Baruch
6.) MIT


Kindly evaluate my profile with regard to chances of admission at above mentioned programs and suggest other suitable programs. Given my work experience I am only looking to apply at top programs with good faculty and placements.

 

[Azamat Bagatov]

5+ Years of Work Experience in Quantitative Equity Portfolio Management and Quantitative Equity Research with One of the top most financial services firm in world, hands on experience in Quant equity strategy, Portfolio Allocation for Top Most Asset Management Firms in the World

Don't understand why you'd want an MS in FE. You're already a graduate of reputed college. All you need is some programming experience so you can try to switch over to a quant job. Spending 50k+ USD just for the sake of a degree is..not the advice I'd give if that's what you're looking for.

 

[zeni]

Hello All,

Please evaluate my profile and help me select appropriate colleges. My GRE score is not so great (Q-159 and V-152).

Education:

1. MBA from a decent college in India with focus on quantitative finance subjects
2. Bachelor Of Engineering from an average college, department topper with gold medal - good scores in engineering mathematics
3. FRM holder

Work Experience:

- 2 yrs as derivatives market risk consultant for a global financial institution
- 2 yrs as corporate treasury analyst with a major investment bank focusing on derivatives liquidity risk, ISDA/CSA, collateral optimization, BASEL LCR, NSFR etc

Can get decent professional recommendations but difficult to get academic ones which appear to be preferred for MS courses. I am looking to get into derivatives pricing, sales, trading or structuring. Have shortlisted the colleges below as these do not require mandatory academic recommendations. Kindly evaluate my profile with regard to chances of admission at below mentioned programs and suggest other suitable programs.

1. CMU MSCF
2. Columbia MFE
3. Baruch MFE
4. NYU MathFin

 

[Diego Ocampo]

Don't understand why you'd want an MS in FE. You're already a graduate of reputed college. All you need is some programming experience so you can try to switch over to a quant job. Spending 50k+ USD just for the sake of a degree is..not the advice I'd give if that's what you're looking for.

Im agree with @Azamat Bagatov you may consider a certificated instead MFE... or go for a PHD

 

[GoIllini]

I've seen profiles like yours admitted at CMU. I can't estimate your chances at CMU, but I think you'll get into a top ten program.

 

[GoIllini]

Hi All,

Please evaluate my profile for programs shortlisted below. I had posted in a thread earlier but not much of response.

1. Masters Degree in Engineering Management from Duke University, with Focus in Finance (3.75/4) with A grade in all quant and fin courses
2. BTech from IIT (Indian One) (GPA 7.7/10 with Average Grades in Math Courses)
3. 5+ Years of Work Experience in Quantitative Equity Portfolio Management and Quantitative Equity Research with One of the top most financial services firm in world, hands on experience in Quant equity strategy, Portfolio Allocation for Top Most Asset Management Firms in the World
4. FRM holder and CFA Level 3 Candidate
5. GRE (Quant - 167, Verbal - 160, AWA - 3.5) ( I hope AWA wouldnt cause any problems )
6. Can crack Essays and will get strong recommendations.

I am looking for a program with good courses and Faculty on Asset Management Quant and offcourse strong placements and alumni network.

I have shortlisted following programs : -

1.) UC Berkley MFE
2.) CMU MSCF
3.) NYU
4.) Princeton
5.) Baruch
6.) MIT


Kindly evaluate my profile with regard to chances of admission at above mentioned programs and suggest other suitable programs. Given my work experience I am only looking to apply at top programs with good faculty and placements.

The AWA is a bit embarrassing, but otherwise you are probably about as strong as candidates come for Princeton if you really were running Systematic Strategies at an AQR or DE Shaw or Renaissance. The final draw probably introduces a great deal of randomness, but I'd still put your odds north of 40%, maybe 50%.

1.) Recs could sink this.
2.) The interview could sink this.
3.) A bad essay could sink this.
4.) The random nature of the class creation process could sink this. Admission at Princeton starts like an MFE program, but that only makes the cut from 800 applicants to 300 when there are 40 seats. After that, it looks like an MBA admissions process.

You need to have a few interesting hobbies and really come off as an interesting person. These hobbies need to have a large cross product. You obviously need- and have- the mathematical competency. Now we need something completely orthogonal to quant work. Maybe you run marathons. Maybe you do skydiving. Hopefully you have some tangible accomplishments that you can cite. Maybe you lead people on backpacking trips or lead some organization that nobody would expect a quant to be in charge of. I think that's the only thing left on this list that could substantially increase your odds from my 40% estimate. The low AWA hurts your odds maybe 2-3%; having something really neat on your resume could increase your odds by 10% and reduce the risk of #3 above. You want something that causes Ms. Collins and Prof. Carmona to scratch their heads when they look at your profile and say "we want this guy on campus."

I am guessing you will get an interview.

I am not sure why you want an MFE given how well your career seems to be going. If what you're saying is really true, you currently have a job that a lot of our graduates hope to get upon graduation- so by bounded support on this random outcome, you're setting yourself back. Be ready to answer questions about that in the interview. It's a non-technical interview, but they are trying to figure out who you are and where your career is going. With your age and experience, you're not allowed to be a wishy-washy 22 or 24 year old and say "I like finance". You need a realistic plan that involves this degree. I think the same can be said for most other MFE programs.

I think you may be doing this because you need a respectable vacation. If that's the case, I'd do an MBA. Princeton's MFin program is probably going to be as challenging and grueling as the first two years of an Engineering PhD at Duke. CMU or NYU may be slightly harder than our program. You won't have quals and research and two courses, but you'll have five courses per semester, each with about 10 ~10-15 page homework assignments. So you will be creating about 500-600 pages of calculus, linear algebra, time series analysis, and stats per semester. Again, assuming your definition of "top asset manager... running quant strategies" means that you are on some portfolio team at AQR, Citadel, PIMCO, or DE Shaw, you will probably get in at HBS and Stanford GSB. Stanford is supposedly a two year party replete with surfing, hang gliding, motorcycle rides down Highway 1, and everything else sunny Northern California has to offer. Why oh why would you want to spend two years slaving over stats homework unless you had to?

Perhaps you have been stuck in the same role for 3-4 years. That means it's time to take up some new hobbies. It might even be time to quit your job and switch firms. I just want to make sure you've considered all of your options before you spend $80K in tuition and two years of your life getting a degree that may not help you.

 

[Vivek Ahluwalia]

Hi Gollini,

Thanks for your thorough review and advice. It's going to be of great help. I am not working with top names you mentioned above but couple of them are our clients. I am in a top notch sell side firm providing all sort of quant strategies and consultation to some of the top buy side clients (mainly pension funds). We do have graduates from top FE and phd programs in our team globally.

One of the main reason I want to pursue MFE is my lack of knowledge and experience in fixed income, derivatives and other asset classes. I am aware that there is high demand of MAC products, strategies and people within this domain. Another reason is I have varied international experience and wants to crack and finally settle in NY. Another reason off course is networking and adding to already strong alum network globally.

I can't do an MBA, don't have interest in studying anything other than quant fin. Also, can't sink in 150k for an MBA.

I will definitely try to make a strong case for myself at Princeton and try to increase my odds by incorporating suggestions from you. Again, many thanks for your suggestions.

 

[GoIllini]

Hi Gollini,

Thanks for your thorough review and advice. It's going to be of great help. I am not working with top names you mentioned above but couple of them are our clients. I am in a top notch sell side firm providing all sort of quant strategies and consultation to some of the top buy side clients (mainly pension funds). We do have graduates from top FE and phd programs in our team globally.

One of the main reason I want to pursue MFE is my lack of knowledge and experience in fixed income, derivatives and other asset classes. I am aware that there is high demand of MAC products, strategies and people within this domain. Another reason is I have varied international experience and wants to crack and finally settle in NY. Another reason off course is networking and adding to already strong alum network globally.

I can't do an MBA, don't have interest in studying anything other than quant fin. Also, can't sink in 150k for an MBA.

I will definitely try to make a strong case for myself at Princeton and try to increase my odds by incorporating suggestions from you. Again, many thanks for your suggestions.

Got it.

So you're sell side quant strategies at a Deutsche, JPM, etc.

Your VPs and MDs (perhaps also you) go off to meet with the PMs at AQR and DE Shaw and pitch signals and systematic strategy research.

This IS a front-office role, though, and you sit in research, not IT, right?

Being front-office at a good sell-side firm doesn't materially weaken your chances of admission. And if you want to move to the buyside it's clear how this program helps you.

 

[Vivek Ahluwalia]

Yes, exactly. It's a front end sell side research role and I am hoping to leverage a top program to crack buy side.

 

[Vivek Ahluwalia]

and I don't really get to interact with client .

 

[GoIllini]

Oh of course. If you are an analyst or associate, you are always doing what the MD or VP doesn't want to do. If work were fun, they'd be able to find people to do it for free. :D