What are my chances?

[Dgtsx]

Hi, everyone,

I am currently a 3rd-year undergrad in a reputable US univeristy (top 10 according to USNEWS). I am an international student from China but I have been studying in the US since high school. I am expecting a BA in Economics and a BS in Mathematics next year and I am thinking about applying for a my MFE degree right after college. My cumulative GPA is 3.8/4.0. Although I have taken some computer cources, unfortunately, I did not learn C++ (I am going to next year). I have had two internships in asset management in China. I haven't taken GRE yet as I am preparing for it now.

With these information above, can anybody tell me what my chances are of getting into some of the great and obviously very competitive MFE programs offered by Princeton, CMU, Columbia, and so on? Do I even stand a chance against so many capable applicants next year?

Also, what are some of the thing I can do to improve my chances? I know my computer background is quite weak, so is my work experience.

 

[jianpu]

I feel that you are able to get AD to all schools except Princeton (this one is just too selective), but work harder, try to get some internship experience, take the C++ course if you want MFE

 

[Sexbomb]

Well well well Unless you get your GRE done. Its a matter of speculation.What if you Score 10% in each section?You won't even
into 3rd grade colleges.
Don't be so eager.You will do good.

 

[Jayanthan]

Well well well Unless you get your GRE done. Its a matter of speculation.What if you Score 10% in each section?You won't even
into 3rd grade colleges.
Don't be so eager.You will do good.

Stay Positive dude!!!!

 

[alain]

Search QN for "What are my chances" type of question and you will get your answer.

 

[bullion]

You have roughly 20% chance of getting into either NYU / Columbia. UCB / CMU / Baruch has higher w/e preference (10%) and Princeton basically requires experiences from blue chip companies (5%). Remember that admissions are highly correlated and often go after similar candidates, so you may not enjoy the benefits of diversification by applying to multiple schools (aka you can't increase your chances just by paying more fees.)

Without w/e, you are at a disadvantage when seeking associate level positions since you're competing with other MFEs and MBAs with w/e. Your pay will be lower and might make the school look bad. Associate level positions come with both higher technical and managerial expectations. Unlike China, a master is not a pseudo-requirement and your professional affiliation will matter a lot more than your school credentials. Given the proliferation of financial institutes oversea (mixed brand name and training quality), your internship experience may or may not be recognized.

Seriously reconsider going straight from undergrad to MFEs. 3.8 GPA + top 10 school already make you an attractive candidate for analyst programs at major banks. Things are probably tough and you might be forced to take a less desirable position, but going after a master is no short cut. The last thing you want on your resume is being an outstanding candidate at all level only to stay in academia until you get your dream job and your corner office straight out of academia. No subordinates will respect that and employer will only be forced to hire you if you really offer a skill of extreme shortage (which quant finance skills are no longer.) Get a job and pay your dues to the industry. Otherwise MFEs will just be nice wallpapers on your wall

 

[Eric.Z]

You have roughly 20% chance of getting into either NYU / Columbia. UCB / CMU / Baruch has higher w/e preference (10%) and Princeton basically requires experiences from blue chip companies (5%). Remember that admissions are highly correlated and often go after similar candidates, so you may not enjoy the benefits of diversification by applying to multiple schools (aka you can't increase your chances just by paying more fees.)

Without w/e, you are at a disadvantage when seeking associate level positions since you're competing with other MFEs and MBAs with w/e. Your pay will be lower and might make the school look bad. Associate level positions come with both higher technical and managerial expectations. Unlike China, a master is not a pseudo-requirement and your professional affiliation will matter a lot more than your school credentials. Given the proliferation of financial institutes oversea (mixed brand name and training quality), your internship experience may or may not be recognized.

Seriously reconsider going straight from undergrad to MFEs. 3.8 GPA + top 10 school already make you an attractive candidate for analyst programs at major banks. Things are probably tough and you might be forced to take a less desirable position, but going after a master is no short cut. The last thing you want on your resume is being an outstanding candidate at all level only to stay in academia until you get your dream job and your corner office straight out of academia. No subordinates will respect that and employer will only be forced to hire you if you really offer a skill of extreme shortage (which quant finance skills are no longer.) Get a job and pay your dues to the industry. Otherwise MFEs will just be nice wallpapers on your wall

I agree that w/e plays a very important role for admission. In addition to investment banking and hedge fund, would you name a few other types of positions that might increase one's chance?

 

[bullion]

Honestly, I don't know. It changes from year to year depending on market conditions. Arguably, you're qualified as long as you know enough math and compsci to get through the materials. Andy Nguyen and mfegrad should have better idea what w/e is suitable. It's more of a personality /work ethic test in addition to gauging your interest /understanding of the industry. Anyone claiming "I was born to do quant finance" without w/e is either out of their f-ing mind or just pulling a YYe aka crazy. QF can get REALLY boring...

Btw I totally pulled the percentage out of my a$$. No one here will know your chance of admissions (so STOP ASKING.) with that said, the importance of w/e is a common trend and most professionals here will probably agree you should sink your teeth in before pursuing another degree. Fresh grad is one of the golden "entry points" for recruitment, so you better have darn good reasons for skipping it. MFE is for a lot of career changers, some enhancers, and all other fresh grads who couldn't find their "ideal" job. The last mentality is somewhat of an insult to the industry, because you're basically asking to bypass the analyst stage (that everyone else had to go through) and going straight to the big bucks (not to mention that the people you're trying to bypass DID get the job as analysts when you didn't). In fact, banks routinely train QF professionals internally so you wouldn't even need a MFE. So if you already live in the US, get a job on wall street and your chance of doing NYU / CMU part time as a working professional is a lot higher than competing as a fresh grad.

 

[YYe]

Hahaha thanks bullion for tagging me!

Actually I think math kids are somewhat crazy. I'm just like the more crazy one sometimes. (I drove alone from middle penn back to atlanta in 12 hours last weekend!! )

Dgtsx
If you want to do QF, try to see if you could sit in front of a computer for the whole just for implementing + debugging a single algorithm..literally one whole day..

But don't be too pessimistic, if you are good at math and computer science, your chance of getting in the programs gets higher. That being said, it still depends on the specific school/program and your general ability - they are looking for people that they think have potential to attract (physically?? just kidding) the employers.

Do some search about it when you are actually applying.