I go to Georgia Tech where I am studying Mechanical Engineering...which I found out is not for me. I have one year left in that and I am considering a Master's program also offered at Georgia Tech called Quantitative and Computational Finance. It is one of the few Master's programs that focuses exclusively on finance from a quant. POV. I think Columbia has one too? Anyways, would this practically guarantee a spot on a trading desk or even just some kind of I-Banking job (maybe valuation for M&A or PE firm) in general? Or is my thinking a bit too ambitious? Thanks!
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Your thinking is too ambitious. There is a vast difference in the career placement at a place like Columbia or Berkeley and Gtech(edit). I'm sure Gtech(edit) would teach you the right stuff, but more important than that is caliber of recruiting for that program.
I'm guessing you just mistyped, but this is at Georgia Tech(which is a decidedly more left-brained school) rather than UGA. I'm not sure about the recruitment for the program, but in reading the literature online they make it sound like there is decent interest from bigger names. Would I be able to leverage my math background from engineering and the MS program despite the fact that I have about a 3.2 from a non-target, state school like Georgia Tech?
Sorry you are right, I mistyped. Georgia Tech is good school (esp. in engineering) but it might be tough coming from a school that's not really known for finance. I'd advise to think long and hard about your interest in finance (is it in trading or banking, they are VERY different) and go from there. If you are into trading, a quantitative master's program and a smaller trading shop may be a realistic route.
If you want to do investment banking, I'd suggest finding a route that leads to a good b-school and going from there, because I think you'd have a tough time trying to get into a bank without some connections.
If you really think about it and think your finance interest is only lukewarm, I'd highly suggest just going into engineering. You should be able to get some good jobs coming from GTech and engineering is a very respectable, sane path that pays well.
Thanks for the advice. I have to say though, my interest in finance is pretty intense. I just finished Barbarians at the Gate and I'm getting ready to read Big Deal by Bruce Wasserstein. My extracurriculars here at Tech include running a $770,000 endowment. I am taking some finance courses as well (Security Valuation, Derivative Securities, Corp. Restructuring). I'm just worried that my GPA wont stand up to the ones that come out of the target schools. When you say connections, do you mean with fellow students or alumni or even professors?
Also, any suggestions for smaller trading shops?
Alumni
There are a lot of smaller trading firms (DRW Trading Group, Group One Trading) that tend to focus less on pedigree and more on what you know. Another thing to look at is Private Wealth Management or Private Banking at BBs and other banks. Those can be a great start and you experience in managing an endowment would map nicely there, the key is getting an "in" for the interview.
I'm doing an internship this summer at a UBS Private Wealth office here in Atlanta, so it sounds like that will help me out. Thanks for all your help with this!
masters in quant finance (Originally Posted: 09/22/2011)
Just want to know what schools would be good to apply to
3.94 undergrad gpa internships: Deutsche Bank, Morgan Stanley, and derivatives @Genworth Financial
GMAT: 680
i would appreciate some input
Can you retake the gmat?
Some schools don't accept GMAT so you might have to take the GRE. Also, perfect score on the math section should be a given. Good schools include Berkely, NYU, Columbia, and Carnegie Mellon. While they may not offer a degree in "quantitative finance", the degrees are virtually the same (ie: mathematical finance, financial engineering, computational finance). Some schools have prerequisites such as calculus based probability classes, differential equations, and some programming classes.
What was your major? When you are asking about Quant Finance, I'm assuming you're talking about MFE/Financial Mathematics programs? If so, markhobbus listed a good number of schools. Without knowing what major you are or what classes you have taken (they will matter for those MFE/Fin Math programs), on the surface your GPA is great. The internships sound good. GMAT is competitive but for top programs like Princeton you may want to retake just in case. Also, some schools prefer the GRE over the GMAT for these type of programs (Princeton and CMU prefer the GRE, just something to consider).
Seriously it's hard to believe someone would score a 680 on the GMAT and have done the rigorous coursework required for mfe. Linear Algebra, comp sci level programming ability, @Berkeley most hold Cfa L1, many have taken at least topology 1. And yes it's about GRE as well where only an 800Q score will suffice for the top schools.
Advice needed! physics major going into a quantitative finance master's (Originally Posted: 03/27/2014)
I will be graduating from Bradley University with a major in physics and a minor in math. The quant finance field has interested me for the past year, and I am considering going into a master's degree in the Chicagoland area for quantitative finance. I can code in c++, java, and fortran, program Monte Carlo simulations, work with large data sets, and use some technical analysis. I also have a strong background in mathematics including PDE's, statistics, and numerical methods. Of course I have taken a few finance courses, but I know those aren't necessarily the most important.
Do I have a shot at succeeding in the Chicago job market? Can anyone provide some guidance? Does my physics major even matter?
NOTE: I'm not plugging myself; I just want some brutally honest advice. Thanks in advance!
You'll be fine
You'll be fine
Get a PhD.
Masters in Quantitative Finance OR Employment Chances (Originally Posted: 07/04/2015)
This is a post for one of my friends. He is an upcoming senior at UMD ( College park) looking to break it finance. He is thinking about pursuing a masters in Quantitative Finance, and he wanted to know what are his chances at admissions at a top programs. He also wanted to know his chances, of placing into a financial firm directly from school.
School : Econ major, Math minor GPA : 3.91 GMAT : 750 Internships : Numerix ( Financial software firm), Morgan Stanley Activities: 1) Head and creator of an investment newsletter, 2)Head of startup ( its an app that is highly used within UMD and neighboring colleges)
I think "your friend" (wink wink) will be very well placed for a top program.
i think the chance is good, both for jobs and Quant finance Master, but maybe not so helpful with a master in Finance if your undergrad (school AND scores) are that high.
unless he could do a master part-time while working, it is usually more useful to be working meaningfully, than in school for masters, than working meaninglessly.
if he does well within the GMAT expiration and applies for MBAs, he could be a hot shot. but doing a Finance master may be overkill.
He wanted to earn a master in order to solidify his chances for employment. UMD isn't a target, so he's skeptical about his chances at entering a top firm. He also isn't in their business school, which I think he believes hurts him.
I think this is way better than my undergrad. and he had internships at BB. for whatever MSF he wants to apply, he'll be doing himself a favor if he goes out, network and try to land a FT offer at the same time.
Great ! Thanks for the comments
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