What are suitable programs for a person having long work experience?

Guens

New Member
#1
Hello,

I am preparing application for master's program in finance or financial engineering.
First of all, I work for an exchange in Asia, and currently engage in risk management of CCP.
Recently, I was picked for a training program of my company, and I will be financially supported in studying abroad for up to 1.5 years.

I hope to acquire knowledge and skills on risk management and extend my horizon in overall areas of finance.
Since I double majored in both mathematics and computer science and have work experience related to derivatives and risk management, I plan to apply for master's program mainly in financial engineering or financial mathematics. Actually, I feel that I need to improve knowledge and skills in finance and financial engineering.

My concern is that I am relatively older than other applicants.
I have 12-year work experience. It would be well evaluated, but some schools do not seem to accept ones having long work experience.

I would like to ask you, veterans about the programs suitable for who has long work experience.

Thank you for your concern in advance.
 

Michsund

Member
C++ Student
#2
Well I know Columbia MAFN likes work experience, but theirs diminishing marginal returns with everything. Just leverage those 12 years of experience and explain on how getting this MFE will help further your work goals.
 

Guens

New Member
#3
Well I know Columbia MAFN likes work experience, but theirs diminishing marginal returns with everything. Just leverage those 12 years of experience and explain on how getting this MFE will help further your work goals.
Thank you for your reply. If you don't mind, please explain the meaning the phrases, "theirs diminishing marginal returns with everything".
I am sorry that I cannot correctly understand the meaning.
 

Michsund

Member
C++ Student
#4
I mean sometimes to much work experience can be a negative, but try to use it to your advantage and show how getting the mfe will further your career to something it wasn't in the past 12 years.
 

Guens

New Member
#5
I mean sometimes to much work experience can be a negative, but try to use it to your advantage and show how getting the mfe will further your career to something it wasn't in the past 12 years.
Aha, thank you for the kind explanation.
When I write my SOP, I will take your advice in consideration.
 

Onegin

New Member
#6
a lot of the programs run towards early career. some specifically target that demographic ( MIT MFin comes to mind), while others are more open. The more open ones tend to have closer connections to industry. I’m mid career, and have had positive feedback from programs - CMU and NYU for example. I’ve also been rejected by both, so I might be more of a warning than an example. General issues that I would think about if I were responsible for picking candidates (im not) : 1) can this individual really handle the math? If you’re 12 years out from ODE’s, you’ll have a tough time in a lot of programs. 2) how is their programming? One class 10 years ago is likely insufficient without a lot of on the job coding. 3) how teachable will they be? Is the individual humble? 4) what the hell are they going to do after this program? This is a major issue - employer sponsorship helps, since they don’t have to worry about employment stats taking a hit. Also, you’ll need to hit the GRE hard- there’s no “experience” discount here. You need to be competitive.
 

Guens

New Member
#7
a lot of the programs run towards early career. some specifically target that demographic ( MIT MFin comes to mind), while others are more open. The more open ones tend to have closer connections to industry. I’m mid career, and have had positive feedback from programs - CMU and NYU for example. I’ve also been rejected by both, so I might be more of a warning than an example. General issues that I would think about if I were responsible for picking candidates (im not) : 1) can this individual really handle the math? If you’re 12 years out from ODE’s, you’ll have a tough time in a lot of programs. 2) how is their programming? One class 10 years ago is likely insufficient without a lot of on the job coding. 3) how teachable will they be? Is the individual humble? 4) what the hell are they going to do after this program? This is a major issue - employer sponsorship helps, since they don’t have to worry about employment stats taking a hit. Also, you’ll need to hit the GRE hard- there’s no “experience” discount here. You need to be competitive.
Thank you for your thoughtful reply. The 4 issues that you pointed out would be very helpful in writing my SOP.
Personally, I think I can follow rigorous programs including math and computer programming.
However, I admit that many other competitors have stronger and nicer backgrounds than me.
Surely I will apply for some renowned schools, but I do not seriously value the name itself.
I would be satisfied if I could learn what I need in my workplace.

Anyway, I appreciate your concern, again.
 
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