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What should I do (USC Mathematical Finance)

Ying Zhao

Joined
1/31/11
Messages
2
Points
11
Hi everyone, I am currently a first year graduate student in Mathematical Finance Program. It seems that the placement of our program is not very good, actually, pretty bad. Only a few of 2010 graduates found a job. Until now, I haven't got any summer internship though I applied many companies.
One of my friends majoring in financial industry at our school wants to apply to the MFE at UCLA. It seems that the placement of UCLA is pretty good.
Now, I don't know what should I do to help me find a job after graduation. Should I apply to another math finance program with good placement, just as what my friend did, or just stay and study hard trying to make myself more competitive? Please give me some suggestions, I need your help, thanks!
 
I have nothing in the way of suggestions but I wouldn't mind requesting the name of the school. I ask for my own information just in case that's where I am going and for the benefit of others who may consider applying there.
 
@Ying Zhao, whats the duration of the program? and have you completed a semester? What is their policy on partial fee refunds?
If you've got less than a year to completion, and can't get a refund, I would complete the course, and apply for jobs after. And if that does not yield fruit, then you'll probably have to consider doing a Fin. Math PhD in a strong university. As long as there are options don't press the panic button yet!
 
I second the idea of publishing the program name. It will do much help for others in much need of inside information about the program. Be a good Samaritan and warn other drivers of the big pothole ahead on the road.

OP may be international student and being in status is more important than tuition which is paid per semester so refund is out of the question. Transferring between quant master programs is rarely done. You still have to apply to the other program like everyone else. That means you will have to stay in your current program until the new program begins which is months away.

I'm not sure what options the OP has at the moment but this highlights the very important fact that applicants should really research and find out about the employment picture of the programs they apply. Many people just don't bother to do this and end up between a rock and a hard place.
 
Andy Nguyen said:
I second the idea of publishing the program name. It will do much help for others in much need of inside information about the program. Be a good Samaritan and warn other drivers of the big pothole ahead on the road.
Click to expand...

Concur entirely. These bum programs need to be exposed to the light of day. Too many of them -- all started within the last few years on shoestring budgets, with "adjunct faculty" (i.e., people hired off the street), little or no placement assistance, and conning Asian students.
 
The Details

I'm Ying's classmate. We're in the Mathematical Finance program at USC. Here are the details that has Ying worried:

1) The program hasn't kept up with their graduates so there is no advertised record of job placement. Also, since the majority of graduates are international students the department has had trouble keeping in contact with alumni.

2) There are rumors that American placement is 100%, but international placement is 0%

3) Currently she's applied for internships with the big 5 and has gotten no response.

Ying's a smart girl and I have no doubt she'll find success no matter what program she's in, I've stressed to her that for interviews she needs to show mastery of the American culture and language. If anyone has anything else to add please let me know or if anyone thinks USC MSMF program is bad let me know, so I can run for the hills too =p
 
This is very interesting... maybe it's time for current students to shed more light on the USC program Submit a Review

dlin said:
1) The program hasn't kept up with their graduates so there is no advertised record of job placement. Also, since the majority of graduates are international students the department has had trouble keeping in contact with alumni.

2) There are rumors that American placement is 100%, but international placement is 0%
Click to expand...
 
I doubt they place 0% of the international students !
Also, perhaps they say 0% just because non of the international students responded to their survey (I doubt it, too).
I glanced at the curriculum and it looks very interesting to me, 2 stochastic calc courses, numerical analysis, stats... it looks very much like Columbia MFin.

Try contacting the alumni and see where they ended up.
 
USC also offers an MFE program that you can do online.
Master of Science in Financial Engineering

I really don't have any good advice except that you will work TWICE as hard as students from an average east coast program.
Location is a big disadvantage. You don't have the luxury of people running around trying to get leads for you like in UCB, UCLA programs so you are on your own.

Try to network. Instead of looking at Wall Street, look at firms on West coast where UCB MFE, UCLA MFE graduates end up (they have the info on their website).

I don't buy the excuse of "difficulty keeping in contact with alumni". All it takes these days is an email, phone call, or check their Facebook status. What it really means is many programs who are not based in a business school don't have the people and system in place to support their students for jobs/internship. Unlike BSchool, they don't do a survey at graduation and 3 month after for the stats. All they do is teach the courses, and give minimum support limited to emailing job posting to students, general career seminars.

If you want to run, where do you go? As I said, as F-1 student, your option is limited.
 
You're pursuing a degree that emphasizes advanced math, programming, statistics, and thinking on your feet to apply it to very real phenomena. And you're doing it on the West Coast.

What about working for a Silicon Valley company? I know of at least one company that hires people talented in statistics and programming on the West Coast. You probably use its services at least once a day.
 
USC business school must have connections with the street. Their business school is well known for finance. See if you can get connected with some of the business school alumni rather than the math department.

Also, please submit a review of the program. It will help future students out quite a bit.
 
The biggest disadvantage of the program really is not being in a BSchool. The program has been around for a while, but their main focus is to educate and not job placement. Also, like other math departments, one person oversees all the graduate degrees. (We've just recently hired a dedicated adviser for the program) The MSFE program is another issue that I should not get into, but yes Andy is right it's a money pit.

I believe three of the biggest issues is that many of the students are 1) easily persuaded by rumors. 2) Most also don't understand that if you want a job on the east coast, go to an east coast school and vice-versa. After I finished my undergrad at U.Rochester, I wanted to try the west coast (sorry I'm just tired of being buried in snow). I joined the program fully aware that my best chance of a job lie within the west and south. 3) They have the notion that a school is a job placement center. I think back to the advice I received from QuantNet when I was debating between USC, UCLA, and Columbia's MAFN, "School's won't get you a job, you yourself are responsible for that."

Now for a bit of griping: if students are truly that worried about placement then they should take initiative. USC leaves it to the organization: Mathematical Finance Association (MFA) to follow up with alumni and increase public knowledge. So far, it has fallen onto the shoulders of one student.
 
U$C.... what a surprise...!

U$C's reputation is that you don't have to be smart to get accepted as long as you have $$$... One of my bosses interviewed many U$C kids and got the impression that they can't even write proper cover letters.... he also told me that one of the professors he had in college used to teach at U$C, and that professor was pressured by the department officials to give out many A's to students because "they pay a lot of money to go there."....
 
Two years down the road, are there any improvements in the job scenario? I'm thinking of applying here..
Also, which one is a better offering from USC; MSMF(Dornsife College) or MFE (viterbi school of engineering)??
 
Hey everyone, My name is Ayush and am clearly an international student. I just got accepted to USC for an undergraduate Mathematics program. Should i go for it? Or are the job placements really that bad?
 
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