MFE: Cornell ORIE:FE vs Baruch MFE

roni_bk's picture
Rank: Monkey | 37

Hello guys,

I hope there are people here who are familiar with the different financial engineering schools.
I'm actually an active member on Quantnet.com but I would like to hear a few more opinions from other forums.
All right,

Baruch MFE

Pros:
- All three semester are in NYC
- Very cheap
- The curriculum is VERY quantitative and a lot of programming is done
- Dedicated career service. The director is working very hard to place all of his students
- A few very famous practitioners teach in the program (e.g. Jim Gatheral)
- A very small class size (around 30)
- Very good alumni society and very good placements.

Cons:
- The school's brand name is weak
- I didn't get my undergrad degree from a big school, so this is probably my last chance to

Cornell ORIE:FE

Pros:
- A very good name on Wall Street or around the world
- A beautiful campus(though not very important to me)
- The program has been going through some changes( added C++ to its program)
- The last semester is in NYC, however is it not too late?

Cons:
- The curriculum look like it's just a combination of courses.
- Away from NYC for 2 semesters
- Cost, the admission letter says that the cost is around $95K. But, I live in NYC and even if I calculated this cost I reached $80K. So, I guess the total cost is going to be $75K-$80K.
- No dedicated career service(?), however, many companies recruit Cornell students. Therefore, I think most of the jobs are not really quant related.

I also got into Columbia MSOR, but I crossed out this option right away. My third option is to try again next year. I can improve my application by a little bit (a few more math courses, I can take the P-exam and perhaps a part time job in finance). I actually was very close to get into CMU so my application is good, overall. I had an interview with CMU and I felt it was very good, however, they rejected my application (don't really know why).

Actually, until today I knew that I was going to take Baruch, but I spoke with someone and he told me to choose Cornell without even thinking :(.

So,

1) Baruch MFE
2) Cornel ORIE:FE
3) Try again next year

Comments (31)

Apr 5, 2011

I'm curious as well.....where's ANT when you need him?

Apr 6, 2011

Not to be rude, but this is really a job for quantnet. You'll get better answers there.

Apr 6, 2011
Prim.<span class=keyword_link><a href=/finance-dictionary/equity-research-overview rel=nofollow><abbr title=equity research&#10;>ER</abbr></a></span>.ate:

Not to be rude, but this is really a job for quantnet. You'll get better answers there.

I did get good and honest answers there, just wanted to look for more opinions.

Apr 6, 2011
Prim.<span class=keyword_link><a href=/finance-dictionary/equity-research-overview rel=nofollow><abbr title=equity research&#10;>ER</abbr></a></span>.ate:

Not to be rude, but this is really a job for quantnet. You'll get better answers there.

Quantnet is run by Baruch alumni so there may be a small bias there.

ambition is a state of permanent dissatisfaction with the present.

Apr 6, 2011
JimSimons:
Prim.<span class=keyword_link><a href=/finance-dictionary/equity-research-overview rel=nofollow><abbr title=equity research&#10;>ER</abbr></a></span>.ate:

Not to be rude, but this is really a job for quantnet. You'll get better answers there.

Quantnet is run by Baruch alumni so there may be a small bias there.

True, but I could also find opinions in favor of Cornell and other schools (CMU, NYU, Columbia, etc.).

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Apr 5, 2011
JimSimons:
Prim.<span class=keyword_link><a href=/finance-dictionary/equity-research-overview rel=nofollow><abbr title=equity research&#10;>ER</abbr></a></span>.ate:

Not to be rude, but this is really a job for quantnet. You'll get better answers there.

Quantnet is run by Baruch alumni so there may be a small bias there.

That explains a lot. Thanks.....

Apr 7, 2011

Cornell. Cornell. Cornell.

Baruch?!?!?!?!

Apr 6, 2011
International Pymp:

Cornell. Cornell. Cornell.

Baruch?!?!?!?!

Well, that's what I think. Except the name, Baruch wins in any parameter.
Would really appreciate if you could elaborate or say a few words about Cornell MFE.

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Apr 7, 2011

Look at any other ranking system outside of quantnet, and you will find Cornell far ahead. It has better name recognition, great placement, and most likely a much broader range of options coming out. No dedicated CS because quite frankly, they don't need one, they are very well recruited. Curriculum there is also very quantitative. This is the book they use for FE classes: http://www.stat.berkeley.edu/users/evans/shreve.pdf

Apr 7, 2011

No questions asked, Cornell. Quantnet really seems to be on Baruch's payroll. Also, needless to say the Cornell name will not only set you up better in the quant space, but will be much more flexible should you ever want to do something else. While some stuff on quantnet is decent, their attitude towards Baruch really takes away any credibility the authors have. Its really too bad. But if you skip any sentence on the site with the word Baruch, the rest is pretty good.

Apr 7, 2011

troll more, prestige whores

Apr 7, 2011
shorttheworld:

troll more, prestige whores

Do you disagree? Would you take Baruch in this situation?

I am legitimately curious, not just being a dick... I think in this instance prestige is very relevant.

Apr 6, 2011
shorttheworld:

troll more, prestige whores

It's not a secret that Wall Street likes Ivy League students.
However, I have other factors to consider.

Best Response
Apr 7, 2011

It's not a fucking secret that EVERYONE IN THE WORLD likes Ivy League degrees. Period. Everyone in the entire fucking world. Even if it's a lesser known degree from a less prestigious Ivy --- you're still a graduate of an institution that everyone in the world knows, reveres and respects. You're part of a network of leaders that includes not only alumni of your institution, but other ivy grads (though the harvard guys look down on you) and that network extends internationally with no boundaries. Baruch fucking college (or university or whatever)?... I've never even heard of anyone I've ever met going there... no one in a position of authority I've ever seen has ever gone there.

OP. If you decide to switch careers after working as a quant or whatever it is you're going to do and you tell someone anywhere in the united states or europe or asia that you have a master's from Cornell they're going to be like... okay- this is a smart, accomplished person. If they look down at your resume and see Baruch college, they're going to be like "so where is this, baruch (mis-pronounced) school located? Is it an accredited university"

that's just the way of the world. It may be a better program for quants (I have zero clue and I realize that), but if you're not 100% positive you want to stay in a realm of quants where everyone knows the value of that program, then I'd be careful.

disclaimer: I went to an Ivy and am somewhat of a prestige whore... I realize that. But I'm also a pragmatist and a realist.

Apr 6, 2011
International Pymp:

It's not a fucking secret that EVERYONE IN THE WORLD likes Ivy League degrees. Period. Everyone in the entire fucking world. Even if it's a lesser known degree from a less prestigious Ivy --- you're still a graduate of an institution that everyone in the world knows, reveres and respects. You're part of a network of leaders that includes not only alumni of your institution, but other ivy grads (though the harvard guys look down on you) and that network extends internationally with no boundaries. Baruch fucking college (or university or whatever)?... I've never even heard of anyone I've ever met going there... no one in a position of authority I've ever seen has ever gone there.

OP. If you decide to switch careers after working as a quant or whatever it is you're going to do and you tell someone anywhere in the united states or europe or asia that you have a master's from Cornell they're going to be like... okay- this is a smart, accomplished person. If they look down at your resume and see Baruch college, they're going to be like "so where is this, baruch (mis-pronounced) school located? Is it an accredited university"

that's just the way of the world. It may be a better program for quants (I have zero clue and I realize that), but if you're not 100% positive you want to stay in a realm of quants where everyone knows the value of that program, then I'd be careful.

disclaimer: I went to an Ivy and am somewhat of a prestige whore... I realize that. But I'm also a pragmatist and a realist.

Thank you for the honest response.
I totally agree with you that IBs are snobby and want to see an Ivy League name on your resume.
However, I'm not intending on going anywhere outside NYC, and I'm not trying to get anywhere outside the quant world. If I do, I will get a MBA from a top school.

Apr 7, 2011

well, than I suppose that's reasonable. If you are a new york quant for life and people actually know baruch in ny quant circles I guess it might not be a bad idea... not valuing the ivy league name seems very foreign to me though.

Apr 8, 2011

Look, Baruch is an excellent program, and in this case, I would pick it over Cornell's program. Quantnet pimps it wayy harder than they should though. It's not even close to the same level as Princeton, CMU, UCB, NYU or Columbia, but because of it's proximity to the firms you'll be working for and the low cost, I think it's a better bet than Cornell. Keep in mind though that you'll have trouble trying to leverage the Baruch degree for anything other than risk or FO quant work. If you're not set on quant work as a career path, go to Cornell. If you on the other hand you won't be trying to switch out of quant work/risk, pick baruch.

Apr 7, 2011

why would u be getting an MFE if its not for quant work?

Apr 8, 2011
shorttheworld:

why would u be getting an MFE if its not for quant work?

I got my MFE because I thought I wanted to be a quant. I'm in management consulting now. I focus on Financial Services clients where my quant skills are still useful sometimes, but there's no obvious jump from an MFE to MC.

Apr 7, 2011

cornells not even a top tier ivy, might as well be a suny with that instate tuition situation going on

Apr 7, 2011

but OP curious why you dropped the columbia ORIE FE masters -- were you gonna do it via cvn?

Apr 7, 2011

yes but the initial reasoning is always that people may want to be a quant and thats why they get the MFE, is it not?

its like going to medical school and then going into ER-- i highly doubt many of those people go in for the ER reason, it opens up after

Apr 8, 2011
shorttheworld:

yes but the initial reasoning is always that people may want to be a quant and thats why they get the MFE, is it not?

its like going to medical school and then going into ER-- i highly doubt many of those people go in for the ER reason, it opens up after

Absolutely. My point was that if you're not entirely sure, cornell may be better because the name will make it easier to transition out if you don't like it. Baruch is better for quant/risk work, but is pretty much useless for anything else.

Apr 6, 2011
manbearpig:
shorttheworld:

yes but the initial reasoning is always that people may want to be a quant and thats why they get the MFE, is it not?

its like going to medical school and then going into ER-- i highly doubt many of those people go in for the ER reason, it opens up after

Absolutely. My point was that if you're not entirely sure, cornell may be better because the name will make it easier to transition out if you don't like it. Baruch is better for quant/risk work, but is pretty much useless for anything else.

That's exactly why I'm still considering Cornell. I don't know what's going to be in the market. I see more and more PhDs take over quant related jobs. I'm afraid that by the time I graduate the quant jobs for MFEs will be only for the best of the best and the rest are PhDs. That's why a Cornell degree might be a good option for me.
But, I'm very certain about my goal getting into quant finance.

Apr 8, 2011

Ivy league is like Bose stereo. Easy quality, but not the best.

I think MIT, cal tech, UIUC, Purdue, etc are all better at engineering/quant stuff than ivy league schools. Also, when your doing quant work, they give a shot about how smart you are, not where you went to school. Name brand is great for banking which is basically a high schoolers job with high barriers to entry.

Barauch is a great program because it is cheap and in the city . I know Andy who runs the site and he was a former MS quant. Shitting on the school for general banking might be valid, but quants are not bankers.

Quantnet is where you want to be for this info. Make sure whatever program you pick has up to date curriculum and strong programing skills.

Honestly guys, realize your audience when answering this shit. Quants are not bankers and jerking off to an ivy degree isn't going to help these dudes.

Apr 6, 2011
ANT:

Ivy league is like Bose stereo. Easy quality, but not the best.

I think MIT, cal tech, UIUC, Purdue, etc are all better at engineering/quant stuff than ivy league schools. Also, when your doing quant work, they give a shot about how smart you are, not where you went to school. Name brand is great for banking which is basically a high schoolers job with high barriers to entry.

Barauch is a great program because it is cheap and in the city . I know Andy who runs the site and he was a former MS quant. Shitting on the school for general banking might be valid, but quants are not bankers.

Quantnet is where you want to be for this info. Make sure whatever program you pick has up to date curriculum and strong programing skills.

Honestly guys, realize your audience when answering this shit. Quants are not bankers and jerking off to an ivy degree isn't going to help these dudes.

Hello,
Thanks for your answer.

Would you consider Cornell's curriculum to be up to date?
http://www.orie.cornell.edu/orie/brochures/upload/... Page 11

I know for sure that Baruch's curriculum is up to date (e.g. Market Microstructure Models,Time Series & Algo Trading, The Volatility Surface, etc.) and that it has a lot of programming (at least 3 programming dedicated courses).

Apr 8, 2011

Like I said, I'm not an expert on quant stuff. I'm sure Cornell is current, but my point is when your Talmud about quant stuff, ivy league is not as important, IMO.

My best advice. Take a couple public speaking classes, etiquette classes and networking classes. The soft skills are usually what is lacking with quants (not always). If your a quant with soft skills you can do anything. If you are a human computer you will be put in a quant dungeon.

Apr 6, 2011

Hello guys,

Just wanted to say that I'm choosing Baruch. I think it will do a better job preparing me for the quant world (though there is no guarantee I will become some type of qunat).
I think that if I ever want a brand name on my resume, I will get a MBA from Columbia or NYU.

Thanks for your help.

Apr 6, 2011

Hello guys,

Just wanted to say that I'm choosing Baruch. I think it will do a better job preparing me for the quant world (though there is no guarantee I will become some type of qunat).
I think that if I ever want a brand name on my resume, I will get a MBA from Columbia or NYU.

Thanks for your help.

Jun 27, 2016
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Apr 8, 2011