COMPARE Tepper MSCF vs Stanford Engineering (advice)

[cdelsola]

Hello everyone, I have to make a commitment in a week and I could use some help.

I am choosing between Carnegie Mellon MSCF and Stanford MS Management Science and Engineering. (I've also been admitted to Berkeley MSOR and all but decided against it at this point, though feel free to comment. It is much cheaper for me)

I want to work in Quant portfolio management/risk management/trading/structured finance.

While I see the benefit of enrolling in an actual financial engineering program, I really would prefer to stay in California for the time being.

So what would you guys recommend? How much less probable is it that I will be able to get into quant job function, say on Wall Street, coming from Stanford Engineering? What remedial work would I need to do if I chose not to attend CMU?

Other possibly relevant factors:
Im 23 years old.
Have only 6 months work experience in financial industry
Level II CFA candidate, expect to pass in June
Have knowledge of only engineering math
Taken C++ classes but I am quite honestly, terrible at it
My BS is in Management Science from UC San Diego,(this might be a redundancy? and Im pretty sure there isn't a chance in hell I could get into quant finance with my current degree)

Thank you for any help

 

[AZPalta]

Hi:
I am a CMU MSCF alum so I have only good things to say about the program.
If the actual location of Wall street (NYC Metro) is where you want to end up then CMU would be much better help in placing you there. The Career Services Center and Alumni of the program mainly focus on this region. So that would help a lot to aid in your job search. It would also target more to your specific career interest than what might be available at the Mgmt Sci & Eng department (but that's just an assumption on my part)

However given that you seem to be open to any function in quant finance, then you might be flexible on location. Stanford would probably be better at placing you in quant shops on the West Coast: Blackrock (ex-BGI), Mellon Capital Mgmt, TCW, PIMCO, Western Asset Mgmt etc...

From research I did on the Stanford programs prior to going to CMU, you might look in to a dual degree. Either do an MS in Statistics or Math Finance in conjunction with your MS mgmt sci and eng. There is sure to be overlap in the course study. You might not even have to formally get admitted in the other degree programs. Instead just use their course requirements as a template for choosing your electives. In this sense you can get the same foundation courses shared through out all respectable quant programs, all while enjoying Bay Area weather.

Also, if choose to be in the Bay Area, I recommend networking at the local San Francisco QWAFAFEW Chapter Meetings. This might not compare with the few professional networking events that are sponsored with the CMU MSCF program with their alumni, but it might be less competitive given that the entire MSCF Class is sharing the room with you when trying to talk to the alumni.

Stanford has franchise value so you would still have a shot at getting into a quant job function. Remember, the first generation quant positions were filled with PhD graduates. So, I doubt they are quick to dismiss non-MFE/MSCF degree holders, especially if you went to a name-brand school.

.

 

[IlyaKEightSix]

From what I've seen of Stanford...

Beautiful green campus.

Plus, PHENOMENAL engineering school.

I'd say Stanford in a heartbeat. Plus, it's the capital of Silicon Valley. Don't be so dead-set on Wall Street...trust me, what I wouldn't give to work in cali wearing a t-shirt and flip-flops gunning numbers and models all day for analyzing things like web traffic. Beats 80 hour work weeks in a suit any day of the week. Plus, the Silicon Valley greenery or the metro concrete?

I'd say go for Stanford as it gives you many more options, even if CMU may in the worst case, be the better Wall Street school.

By the way, massive congratulations on Stanford.

 

[Connor]

I agree with Stanford and the dual masters idea.