COMPARE Stony Brook MS vs Stevens MFE

[Nelkshake]

Hi all! Congratulations on all those who got admits! To those having a rougher time, I am right there with you.

I've been accepted to Stony Brook AMS's quant finance masters and to Stevens' MFE. Looking for some advice from the crowd and specifically from graduates of these programs on the merits of each.

My understanding as of now is that Stony Brook focuses much more heavily on mathematics, and is implementation-agnostic. On the other hand, Stevens is more focused on industry readiness, which is valuable but I worry that they wont focus enough on fundamental understanding of the material. I would like to come out of my masters with a complete and total understanding of the underlying theory as well as some experience applying it, and I would like to have the skills and confidence to apply what I've learned outside of just succeeding in interviews. I am also potentially interested in a Ph.D and both of these programs have Ph.D's as well.

I also reached out to Professor Polak at Stony Brook since he has taught at both programs, and I'm hoping he can provide some insight.

Also, specific to Stony Brook, I know some of the professors teaching is not so highly rated. Perhaps @jarryds and @OldFinaceMan could comment on these.

I am also waitlisted at NYU, where I would love to go, but I know the chances are slim.

Thank you!

 

[Andy Nguyen]

Also, specific to Stony Brook, I know some of the professors teaching is not so highly rated. Perhaps @jarryds and @OldFinaceMan could comment on these.

Good to see that you did your homework and found the graduates from the Stony Brook program. They shared lot of insights over the years here.
My impression with SB is that they can be a good pipeline into PhD programs. It's not something I would necessarily go to if my goal is do a terminal degree and need dedicated career services to get a quant job. Their placement stats are underwhelming.
If you are a domestic student, you may have an easier time getting a job.

 

[Nelkshake]

Hey @Andy Nguyen ! Thanks for responding, and yes I am a domestic student. Do you think that's an advantage in the job market at the moment? I'm sort of unsure about doing just a masters vs continuing into a Ph.D program. I know Ph.D's aren't required at most quant research positions, but some of the top ones do require it and the research opportunity does seem valid. What is your view of Stevens as opposed to SBU?

 

[Andy Nguyen]

US students will get a strong preference assuming that you have a decent profile. Not only it's good for placement (no need for visa sponsorship), it's good for PR and recruitment.
PhD consideration is not to be taken lightly. It requires serious, serious time commitment with no guarantee of outcome unless you are top of the class. This is why many people choose a quick MS to make money instead of spending a long 5 years in mental isolation.
Full disclosure: I quit my Math PhD after the second year to do MFE and no regret.
If you want my honest opinion, I would spend another year to strengthen my profile and apply again to programs with better job outcome.
This may not be what you want to hear but it is not the time to join an unranked program or even #18 in this job market.

 

[jarryds]

Hi all! Congratulations on all those who got admits! To those having a rougher time, I am right there with you.

I've been accepted to Stony Brook AMS's quant finance masters and to Stevens' MFE. Looking for some advice from the crowd and specifically from graduates of these programs on the merits of each.

My understanding as of now is that Stony Brook focuses much more heavily on mathematics, and is implementation-agnostic. On the other hand, Stevens is more focused on industry readiness, which is valuable but I worry that they wont focus enough on fundamental understanding of the material. I would like to come out of my masters with a complete and total understanding of the underlying theory as well as some experience applying it, and I would like to have the skills and confidence to apply what I've learned outside of just succeeding in interviews. I am also potentially interested in a Ph.D and both of these programs have Ph.D's as well.

I also reached out to Professor Polak at Stony Brook since he has taught at both programs, and I'm hoping he can provide some insight.

Also, specific to Stony Brook, I know some of the professors teaching is not so highly rated. Perhaps @jarryds and @OldFinaceMan could comment on these.

I am also waitlisted at NYU, where I would love to go, but I know the chances are slim.

Thank you!

I imagine both of these programs are pretty similar. PhDs are always preferred, but getting a job isn't strong enough motivation to make it through a PhD program. I wouldn't be too concerned about program rankings - accept your best offer and start interview prepping/networking right away. If you are a US citizen you should be looking to intern and study at the same time. Stevens may be a little better placed if an internship requires you to be in office. I interned remotely during the semesters so it wasn't too much of a concern for me. Long Island has a good train, but it is not a quick commute...