Quantitative MS in Finance Prerequisites
Unwritten rules to get into top MBA programs are widely known, but to get into a top ms in finance program is where I am a little fuzzy. If I want to go to a top quantitative masters program such as mit or princeton what are the type of prereqs one would need i.e. gpa, work experience, major, gmat, gre. Also is it a necessity to have a quantitative undergrad major to get into one of these programs or would a finance major with a minor in math be enough?
I don't know about Princeton but MIT's are pretty clear. They specifically say which courses would be useful to already have done. They also specifically ask you in the online application what you got in each of those courses.
Your math major with a minor in math is definitely enough for MIT. Their average GPA is 3.78 and average GMAT is 731 (I don't know why you couldn't have looked this up yourself. It's right on their website). Work experience is not required but it does help your application.
Did you mean my finance major and math minor would be enough for MIT?
Check out http://www.quantnet.com. They are the go to source for this.
Second ANT on this. Andy Nguyen is the expert on MFE admissions; Anthony is the expert on MSF admissions.
MIT, Princeton, and CMU are starting to look for the personal skills of a good MBA or PhD Finance admit as well.
I think the MIT, Princeton, and CMU admits are all roughly in the same ballpark in their background and personal skills. (CMU is a little more programming-heavy). Princeton posts their resumes, and if you look them over, you find folks who worked at Citadel and ran triathlons in their spare time. Or ran national volunteer organizations while inventing new analytics. So, some of the admissions criteria at the top programs are starting to move towards that of MBA applicants- looking for three or four different vectors with large cross products. They're not just looking for the trader at Citadel anymore- they're looking for the trader at Citadel who docents the Italian Rennaisance collection at the Chicago Art Institute on the weekends.
Just kidding.
They say otherwise, but if you look at the resumes, FO work experience is generally required. The market is getting a lot tougher in finance; Princeton and MIT want to have 100% placement rates. If you have a proven track record in a very conservative hiring market, you have an advantage at landing a job, and therefore, on admission.
That's been the trend since 2008.
Point is: Princeton and MIT will not be wanting to take a chance on anyone...
Not right now. It will change in a few years.
The bubble in higher education will pop once the student loans crisis hits the same level as mortgages. In two years, it will be easier to get in and cheaper to go to school in most MBA programs- even the M7. The same may be true for the MSF programs, but I'm less sure. I think that quantitative MSFs have a lot of long-term tailwinds to cancel out the headwinds in the higher education bubble. Basically, their sizes, incoming classes, and curriculums look like MBA programs in the 1970s when the kids who helped make MBA a household name graduated.
I haven't applied to any programs (I'm debating an MFE v. Finance PhD down the line), but based on my research, they usually wanted something along the lines of:
Math:
(1) The typical lower division engineering/math/physics track: Multi-Variable Calculus, Linear Algebra, Differential Equations
(2) Calculus-based probability (I'm assuming a Mathematical Statistics course couldn't hurt you, either)
(3) I would also recommend getting a good grade in a Real Analysis course, although not every program explicitly mentions this as a requirement; however, if Finance and Economics PhD programs require this, which they often do, then it's probably a good bet that Quantitative Finance programs might like to see it, too.
(4) If you're considering Stanford, then PDE's
Programming:
(1) Some sort of demonstrated programming knowledge, in the case of a Chicago or Stanford, to being a very, very well-versed in OOP in the case of a CMU.
Also agree with Illini's commentary up above. Doing well in the pre-requisite coursework is no longer enough to get in to a top program.
CMU = OOP?
That's kind of funny considering they don't even to underclassmen anymore.
How specific are schools on which school you went to for undergrad. Will non-target schools get you into these top masters programs? I go to Mizzou and was wondering if I obtain a 3.8 and score around 720 on my gmat would I have a shot at an MIT or Chicago?
Msf prerequisite courses... Should I bother? (Originally Posted: 01/17/2011)
Hey guys,
Wait listed at a BB for a S&T role... Near perfect gpa and really good ecs. Have my eye on Princeton or MIT for an msf a few years down the road but I know how important work experience will be so I'm in a little bit of a bind here. I'd need to take multivariable calc linear algebra and diff eq this semester just to get the prereqs down for those programs. But if I don't end up with the BB job my backup is at an inter dealer broker which we all know is nowhere near quantitative enough for me to dream of Princeton after a few years.
Classes need to be cemented in within the next week and a half. I already know multivar from hs but I'd need the credit. I'm very good at math, just took a different route here at school and am now regretting it. I'm leaning toward dropping the maths and just saying f it and drinking every night of the week taking online music and theater appreciation but if the BB job ends up coming through I may end up kicking myself for having something as stupid as a prereq holding me back from a top masters program. Any advice?
And for Anthony, if the BB ends up working out for me, any chance a top msf would ever allow a self taught undergrad math applicant pass as proficient? Khan academy can easily teach me linear alg and diff eq, but idk how convinced they would be with me being able to handle the program?
Thanks guys
If you want to get an MSF later, I would advise doing the prereqs. There will be plenty of chances to do "drinking every night" at a less critical point in time.
Princeton's MSF is very quantitative. If you look at the current students, they all graduated from hard sciences program, with most of them ranking very high in national math contests, etc. http://www.princeton.edu/bcf/graduate/recruiting/intern/
good luck, but you should of chose a hard science.
Go to work and do an MBA. An MSF is generally used to break into banking, rebrand yourself without blowing your MBA load and for those who love finance. Princeton likes hard sciences and work experience. MIT is a great brand, but not developed enough (I am confident it will eventually). All the other MSF's have great names and brands, but not "elite". If you can work I suggest you do it.
Princeton and MIT probably won't budge on their requirements. Simply too many top applicants to make any exception worth it. The 2nd tier MSF programs won't have an issue with you "as is".
If you want to do an MSF, I suggest you apply to Vandy, Vill, Ohio State, UIUC, Claremont, etc.
All applicants must complete specific business foundation courses with a cumulative overall GPA of 3.00 or better, prior to enrollment in the MSF program. Minimum Finance prerequisites include Financial Accounting, an introductory course in Financial Management, Investment and Problems in Financial Management. All students without acceptable real world work experience are required to have completed an internship prior to entering the program. To get more information on MSF prerequisite courses you may check this link http://www.thedegreeexperts.com/online-degree.aspx
Graduate programs math prereqs (Originally Posted: 06/22/2015)
Hey guys, I am graduating this year and will be applying for ms programs in the future. As you all know some programs require that you meet certain math prereqs unfortunately for me I don't have any of those. I was wondering if there is any possibility that it will hurt my chances when applying? if it does, what can I do to meet those requirements? I am asking for U.S msf programs.
There is a very good chance that failing to meet the requirements for admittance will harm your chances of being admitted.
To meet the requirement, you should take the required courses.
What the above said. If you don't have the ability to take courses from a local university or community college, you can use NetMath from University of Illinois. Little expensive, but will let you get your math prereqs done at whatever speed you can do it.
ccalc 2 and some elementary stats are basics. if you seek a quanty MSF, then you probably will have less weight - linear algebra, prob & stats, diffEq or CS/Physics type of stuff is always desirable regardless of level and quantity, quality.
Classes for an MFE/MFin/MSF (Originally Posted: 09/06/2014)
I'm considering doing a masters of finance or of financial engineering after working for a few years. I know most programs require intermediate classes on probability/statistics: do these classes need to be taken for a grade, or is it fine to take them pass/fail?
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