Financial engineering vs financial mathematics
What is the difference exactly between financial engineering and mathematical finance?
Thanks for your answers.
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They are mostly inter-changeable terms.
If the context of your question is about which to study, don't trust too much in the program name. Instead, look into the course content and feedback others have given relative to other programs.
If you are looking for a strict distinction between the two, I believe the former to be more related to structuring, and the latter more concerned with math/stats in modelling risk, etc. One is therefore more transaction focused, and the other more broad, almost academic in nature.
Source: Considered going the quant route for a very brief period of time. Open for correction.
Yeah, look at the courses and placement of grads.
Financial Math, Financial Eng, Management Science, Finance,... (Originally Posted: 04/24/2007)
Hi, I am a second year undergrad and plan to graduate in three years and go to a 1-2 year master program..
can someone explain the pro/con of Financial math, financial eng, management science, and Finance..and what is the difference of their focuses..
I am considering (or i shall say exploring the possibility of) Princeton finance, Stanford's management science, Stanford/Columbia/UChicago's finmath, and maybe some financial eng...though i am not 100% what i am going to do in the near future..but i think it would be something quantitative....though i don't want to be tooo..quant
thanks.
You would need a highly quant background to get into the fin math program at Stanford. A friend of mine did it and now does Fixed Income for Morgan Stanley.
The management science & engineering program is very popular on campus. To give you an idea, there was once a McKinsey presentation, and everyone present (who were Stanford alums) were from MS&E.
Another point, when I was going through BB recruiting, a good number on the list of interviewees came from MS&E or Econ.
I would say MS&E is more broad out of the options you mentioned. Most of my friends choose the "finance, economics, and decision engineering track" Have you taken a look at the curriculum?
http://www.stanford.edu/dept/registrar/bulletin/bulletin06-07/pdf/Manag…
Hi blue,
I had a friend who did his masters in MSE and entered consulting but as an analyst. Since you went there, do you know if everyone in consulting/banking is hired at the same level as top undergrads. If this is the case, what is the point of getting a masters in MSE and then being a year behind everyone in the analyst program? just curious becuase I am not sure if i am wrong about this or not. thanks
thanks a lot!
i just looked at the admission stat of MSE, it seems....the admission rate is pretty high, around 50%....any reason? so what would make someone a good candidate for admission?
also, if one already had their mind set about going into IB/PE/HF etc., what would be the point of obtaining a masters in the abovementioned areas? Just a gpa booster to make your resume seem more appealing or is purely for interest reasons?
i wasn't planning to graduate in 3 years...so i didn't really look for an investment bank internship..though i had something else..more like a macroeconomics research.....so i might not in a good position since i don;t have an investment bank internship this coming summer....given that...why not stay in college for 4 years just getting a BA while i can get a master...also..i haven't taken any "practical" econ/finance class.....I am a math/stat major...
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