USA vs. Canada

[James McGill]

I am a Canadian student (from Toronto) with an undergraduate degree in Mathematics and Engineering from a Canadian university. I have received multiple offers of admission to some MFE programs. The following are my top choices:

1. University of Toronto: Mathematical Finance
2. Waterloo: Quantitative Finance
3. Rutgers: Mathematical Finance
4. Johns Hopkins: Financial Mathematics (15% financial support)

Everyone is telling me to go to the US (i.e choose Rutgers or JH) because there are more opportunities. How true is this? My family is from Canada. I don't want to move away forever.

Also, I am unsure whether I wish to pursue a PhD after graduate studies.

I have taken some hard-core math courses (Stochastic Control Theory, Stochastic Differential Equations) throughout my undergraduate career, so I’m up for a challenge. I know that the Waterloo program is supposed to be the hardest.

Thank you.

 

[cxiao]

I am by no means an expert, but here is my two cents.

It is true that US has more opportunities. However, I am not sure Rutgers and JHU are good enough programs that you can exploit those opportunities.

In contrast, the Waterloo and Toronto program are definitely the best two programs in Canada. Both programs have 100% internship placement rate and very high full time job placement rate for many years. Both dominate Bay street. I am not sure Rutgers and JHU can match that. Furthermore, if you want to do a PhD, Waterloo is probably the best choice. They are very technical, possibly most technical in North America.

Personally, I would choose between Waterloo and Toronto.

 

[cxiao]

Also, you better call Saul and ask for his opinion.

 

[James McGill]

I get that a lot.

Thanks for your input.

 

[JLevin]

Hmmm... well, would you rather be a pretty big fish in a smaller pond, or a small/medium sized fish in the biggest pond?

Mind you, Canada is a decent sized pond... and close to the US

 

[James McGill]

I like the analogy. And yes Canada is a decent sized pond. Now the question: Toronto or Waterloo?!

 

[MuraliS]

I like the analogy. And yes Canada is a decent sized pond. Now the question: Toronto or Waterloo?!

Waterloo any day. Its program is considered more rigorous, practical and most importantly with an excellent placement.

 

[James McGill]

Do you think that outweighs the prestige, location and international recognition the Toronto program receives?

 

[morts]

Hello James, I am an international student who also got accepted to the program at UofT, I did my undergraduate Thesis with a PhD in Statistics from Waterloo and I was in several classes with a PhD in Actuarial Science from Waterloo as well.

They both told me the UofT program is more of a terminal program, which is precisely what I am looking for (maybe not what you really want because you are thinking about pursuing a PhD) because I want to go immediatly to the industry after completing the program. They also told me that if I wanted to pursue a PhD, I should go to Waterloo, because the program has a bigger focus in research than the program of Toronto.

However, I recently spoke with someone who did the MMF program at Toronto and then did a PhD in Finance in McGill, so maybe this program can get you on a PhD as well.

With this being said, I would choose Toronto over Waterloo, not only because of its reputation internationally but also because the length of the program is shorter and I do believe it has a strong advantage due to its location.

 

[Vincent Yang]

Waterloo hands down, ideal for phd prep

 

[TrevorZhou]

I will stay in Canada if I were you. Those two programs are very respectful in Toronto/Ontario but I don't think the US schools are of the same importance locally or in the industry.