What are the Age ranges for the top MFE programs

[AlgoKid]

I am in my early 40's - have two Masters and about 15 years of work experience both in Software Development and, later, in Finance (mix of M&A, corporate strategy and then trading; last 3 yrs running my own risk management firm). Thinking of getting a formal degree in Quantitative Finance to get into Quant Trading side (tried my best to get an initial break, but not quite successful, in spite of having practical work experience - last three years spent at my own trading/risk management firm, so hard to prove "performance" even though I am willing to show the bank statements to show the earnings of the firm).

Now, the question is: Are the programs biased about age? Of course, not on paper (illegal) - what is the range of ages for the programs? Would greatly appreciate if people with first hand information can share here - I am sure there are other lurkers like me wanting to know this as well.

Thank you all contributors for the great community here!

 

[ProgrammerAlex]

You sound a lot more experienced than I am, so I doubt I could give you any advice, but I am in software development as well but I am interested in finance because of all the math, statistics, and probability that is involved.

May I ask how did you get in to the finance industry and what your educational background is? I really want to get in to the industry (about to graduate college currently studying CS) but I'm not sure what internships to apply to or where to start.

 

[AlgoKid]

I went to school full time - MBA from one of the Ivy League schools. Then, worked in the industry to pay my dues before starting my own firm that is doing okay, but is not a multi-million AUM yet. Figured I would rather trade than try to raise AUM and/or find clients with risk books to manage. Hence, the quest to get a break into a quant trading role...or, pay more dues by getting an MFE .

 

[AlgoKid]

Andy, could you share any info on the age range for any of the top MFE programs? I would think you would have some "hunch", if not hard numbers. Thanks!

 

[Alexei]

Your age is not important as a close to a 100% score on a quant math of a GRE exam, a lot of math, probability and statistics classes done which, along with some lump sum, will get you there.

 

[AlgoKid]

Alexei,
Thanks for the input. Yes, I too agree on that front. I took the GRE just last week and have a 166Q and 166V (some kind of coincidence, I guess) - I guess 94 and 96 percentiles. That probably falls within the middle two quartiles, I guess. A Masters in Computer Science (some 16 years back) and an MBA in Finance from a top-10 B-School (6 years back) with decent (but, not necessarily stellar) grades...may be around 3.5-3.7'ish (got to get the transcripts and see where exactly I fall in that segment).

Lots of programming expreience in the real world and a few years of trading/portfolio/risk management experience in the real world, using some hedging methodologies/algos I developed (proprietary to my firm).

I feel I am okay in all these areas. Except some potential concern about the age. Hence, the attempt to see what some people knowledgeable (either through hard numbers and/or anecdotes) would have to say/advice.

Thanks again for pitching in. And, thanks to all those who will be pitching in.

 

[Andy Nguyen]

The Kid in your username is a bit misleading, isn't it?
I've seen people in the 40s, 50s range, especially among those working and studying MFE part-time. That said, the vast majority of MFE students are in their 20s.
If the programs admit you, they are somewhat confident that they can help place you in this competitive job market so your job is to sell yourself well.
And you are definitely not alone
https://www.quantnet.com/threads/how-old-is-too-old.6651/
https://www.quantnet.com/threads/what-age-is-too-old-to-be-a-quant-modeler.3730/

 

[AlgoKid]

Andy,
Thanks for the pointers - sorry I didn't dig those threads out by myself. It definitely calms my nerves a bit - thanks!
The "Kid" is there because, when it comes to theory of quantitative finance, I do not know much - my current methodologies and algos have grown out of my personal experience in trading and systematic strategies I developed over a few years. That's the thing I come to feel - I need to get more grounding in the theory and science of the field for someone else to hire me in my first "quant role (salaried)" with confidence. Looks like it is tougher than getting someone to give me their risk book to manage, ha haa! I am earning my bread and butter and a little more by actually delivering alpha, but looks like it's tough for the "typical" quant recruiter/hiring manager to see through that . I am sure there are wiser, non-typical recruiters/hiring managers out there but in my limited attempts on the job market I didn't run into them (yet). Instead of trying to spread myself too thin, I am thinking a proper credential (and, the associated learning that goes with it) like MFE could actually make it more efficient for me and the hiring employer to find/evaluate each other better.

Hmm...looks like I already have my SOP ready as above. Should be getting to go ahead and prepare the apps now!

Thanks!

 

[Tom Maloney]

It might depend on the program, and if they have a part-time option. There are older people at Baruch, where I study. Some are married, have kids, and take classes part-time. However, (I think as expected) most are 20 somethings.

 

[AlgoKid]

Tom,
Thanks for sharing your observations. I am thinking of going in full time - hence, the query. And, I am actually thinking Baruch, so I hope you can give some insight here - to your knowledge/impression, any "older" students in the full time stream at Baruch?

 

[AlgoKid]

Reasons for considering full time:
(i) really try to apply myself fully and learn with not many distractions,
(ii) finish up sooner than later so I can start the new path sooner than later (already late, so can't delay it even more - want to get the path started as soon as I can - so, go full time and finish in the shortest time allowed),
(iii) increase the chances of getting placed through on-campus recruiting (though no empirical evidence, I think recruiters look at part-timers a little differently than full-timers - just my subjective impression; I could be way off here)
Hope I am not missing some obvious things in this line of thinking.

 

[Tom Maloney]

Tom,
Thanks for sharing your observations. I am thinking of going in full time - hence, the query. And, I am actually thinking Baruch, so I hope you can give some insight here - to your knowledge/impression, any "older" students in the full time stream at Baruch?

Yes, there are. I am ~30, and full-time. There exists full-time students older than me.

 

[AlgoKid]

Thanks for sharing this info - it is of great utility to me!
Have a great night!