Serving the Quantitative Finance Community
Applying for MFE 2008.. What are the chances?
Hi frnds,This is my very first post on this forum. I am an MFE aspirant from India and applying to different univ for 2008.Here is my brief profile:10th and 12th : 80% and 75% respectively, UP state board (with 92 and 90 marks in maths respectively)B Tech 2002(Chemical): 9.5/10 CGPA (Deptt Rank 1/60) (2 mathematics course in inital 2 sems comprising PDE, Linear algebra,Probability etc.)M Tech, IIT Kanpur 2004(Chemical): 8.67/10 CGPA (Took 1 Numerical Methods course)Work exp : 2.5 yrs, (1)1 year with Infosys (worked on an ATM card application) (2)Then with another software product co. where I worked on financial(credit card) application GRE : 1370 (V: 600, Q: 770), AWA: 3.5TOEFL : yet to comeTaking CFA level 1 in June 2008Universities of interest: 1. Columbia2. NYU3. Baruch4. CMUPlease have a look at my profile and do suggest me what are my chances on these listed univ. I know none of us can say for sure about the admit(except the concerned univ. admission commitee), but please share ur experience/knowledge/viewpoint to help me. Thanks in advance,bbye
Applying for MFE 2008.. What are the chances?
I would like to encourage people with experience in admissions to the mentioned schools to contribute to this thread, since I am probably applying NYU, Columbia and CMU myself...
Applying for MFE 2008.. What are the chances?
The acceptance rates are higher than people think. I would estimate them to be in the 20-40% range. The only truly highly competitive programs are the PhD programs, and the MBA, Law School, and Med School programs. All else, you would be surprised how much easier it is to get in (especially if you dont need financial aid). I am not just talking MFE programs, but any masters program even at so called top schools.
Applying for MFE 2008.. What are the chances?
QuoteOriginally posted by: Gmike2000The acceptance rates are higher than people think. I would estimate them to be in the 20-40% range. The only truly highly competitive programs are the PhD programs, and the MBA, Law School, and Med School programs. All else, you would be surprised how much easier it is to get in (especially if you dont need financial aid). I am not just talking MFE programs, but any masters program even at so called top schools.From my experience as an insinder (ie not a student) in one top ranked MFE program, the acceptance rate is/was around 10%. It is definitely not easy to get in.
Applying for MFE 2008.. What are the chances?
QuoteOriginally posted by: Gmike2000The acceptance rates are higher than people think. I would estimate them to be in the 20-40% range. The only truly highly competitive programs are the PhD programs, and the MBA, Law School, and Med School programs. All else, you would be surprised how much easier it is to get in (especially if you dont need financial aid). I am not just talking MFE programs, but any masters program even at so called top schools.Really? Even NYU?Do you think that the market value of the MFE programs is negatively affected because of that?
Applying for MFE 2008.. What are the chances?
I graduated about a year ago from NYU's math-finance masters program, but I began it way back in 2001 as a part-time student. I think the acceptance rate back when I entered was towards the high end of the 20% - 40% range (else how would I have gotten in 
, but as such programs have increased in popularity, the application rate has soared and the acceptance rate has dropped. Here is what they said in an email to alumni a couple of weeks ago: "Applications to the full-time program have been growing by leaps and bounds from about 350 in 2005 to 500 in 2006, to over 750 this year. So while our class size has grown slightly, from 27 in 2005 to 33 in 2006, applications have grown even more rapidly. In other words, we have been able to maintain the same high level of quality students as in past classes. Admissions are very competitive. This year we accepted only about 9% of our applicants for full-time study." I saw an article on the UC Berkeley MFE website from the March/April 2006 Financial Engineering News (http://mfe.haas.berkeley.edu/download/f ... t_2006.pdf) which said "The program now has an annual intake of 60 students from applications that number anywhere from 200 to 400 each year." That's a bit ambiguous as to whether sixty is the class size or the number of students accepted; if it's the class size it sounds like the acceptance rate would overlap or exceed the 20%-40% range. That article also claimed a "100%" placement record for graduates. NYU used to make a similar claim, but in the same alumni email I quoted above they said: "This year placement is proving to be more of a challenge than usual. Obviously, adverse market conditions are a major factor. So far, 15 of 32 students looking for full time positions have received full time offers and 8 have accepted them. Students continue to get interviews for good quantitative positions at top firms, but the pace of offers lags behind previous years. Past experience has shown that we can expect many offers to come in the November to January time frame, but it would be dangerous to wait longer before acting."I don't know much about the Indian academic system, but I kinda think our friend pranks is a long-shot to get into the NYU program at its current sub-10% acceptance level. If pranks and SNWKW and anyone else checking this out really have their hearts set on studying in New York City, it's worth noting that there are at least six quantitative finance masters programs in NYC:1. Baruch College of CUNY (probably the easiest to get into and the least expensive, too, it includes Salih Neftci on its faculty)2. Carnegie-Mellon (actually based in Pittsburgh at their main campus, but they have a fully interactive electronic classroom site in NYC)3.-4. Columbia has two separate programs, one in the math department (with Ioannis Karatzas) and one in the IEOR department (with Emanuel Derman)5. NYU6. Polytechnic University (in Brooklyn)Of course, there may be others. Additionally, most MBA programs will have some sort of quant specialization track. Good luck!
, but as such programs have increased in popularity, the application rate has soared and the acceptance rate has dropped. Here is what they said in an email to alumni a couple of weeks ago: "Applications to the full-time program have been growing by leaps and bounds from about 350 in 2005 to 500 in 2006, to over 750 this year. So while our class size has grown slightly, from 27 in 2005 to 33 in 2006, applications have grown even more rapidly. In other words, we have been able to maintain the same high level of quality students as in past classes. Admissions are very competitive. This year we accepted only about 9% of our applicants for full-time study." I saw an article on the UC Berkeley MFE website from the March/April 2006 Financial Engineering News (http://mfe.haas.berkeley.edu/download/f ... t_2006.pdf) which said "The program now has an annual intake of 60 students from applications that number anywhere from 200 to 400 each year." That's a bit ambiguous as to whether sixty is the class size or the number of students accepted; if it's the class size it sounds like the acceptance rate would overlap or exceed the 20%-40% range. That article also claimed a "100%" placement record for graduates. NYU used to make a similar claim, but in the same alumni email I quoted above they said: "This year placement is proving to be more of a challenge than usual. Obviously, adverse market conditions are a major factor. So far, 15 of 32 students looking for full time positions have received full time offers and 8 have accepted them. Students continue to get interviews for good quantitative positions at top firms, but the pace of offers lags behind previous years. Past experience has shown that we can expect many offers to come in the November to January time frame, but it would be dangerous to wait longer before acting."I don't know much about the Indian academic system, but I kinda think our friend pranks is a long-shot to get into the NYU program at its current sub-10% acceptance level. If pranks and SNWKW and anyone else checking this out really have their hearts set on studying in New York City, it's worth noting that there are at least six quantitative finance masters programs in NYC:1. Baruch College of CUNY (probably the easiest to get into and the least expensive, too, it includes Salih Neftci on its faculty)2. Carnegie-Mellon (actually based in Pittsburgh at their main campus, but they have a fully interactive electronic classroom site in NYC)3.-4. Columbia has two separate programs, one in the math department (with Ioannis Karatzas) and one in the IEOR department (with Emanuel Derman)5. NYU6. Polytechnic University (in Brooklyn)Of course, there may be others. Additionally, most MBA programs will have some sort of quant specialization track. Good luck! Applying for MFE 2008.. What are the chances?
Thank you, topkatz! Many people (some of them related to the program) assured me about the quality and reputation of the Courant's program.Their students are extremely gifted and well trained... I just hope to get in...Can anyone else contribute?
Applying for MFE 2008.. What are the chances?
QuoteOriginally posted by: topkatzI graduated about a year ago from NYU's math-finance masters program, but I began it way back in 2001 as a part-time student. I think the acceptance rate back when I entered was towards the high end of the 20% - 40% range (else how would I have gotten in , but as such programs have increased in popularity, the application rate has soared and the acceptance rate has dropped. Here is what they said in an email to alumni a couple of weeks ago: "Applications to the full-time program have been growing by leaps and bounds from about 350 in 2005 to 500 in 2006, to over 750 this year. So while our class size has grown slightly, from 27 in 2005 to 33 in 2006, applications have grown even more rapidly. In other words, we have been able to maintain the same high level of quality students as in past classes. Admissions are very competitive. This year we accepted only about 9% of our applicants for full-time study." I saw an article on the UC Berkeley MFE website from the March/April 2006 Financial Engineering News (http://mfe.haas.berkeley.edu/download/f ... t_2006.pdf) which said "The program now has an annual intake of 60 students from applications that number anywhere from 200 to 400 each year." That's a bit ambiguous as to whether sixty is the class size or the number of students accepted; if it's the class size it sounds like the acceptance rate would overlap or exceed the 20%-40% range. That article also claimed a "100%" placement record for graduates. NYU used to make a similar claim, but in the same alumni email I quoted above they said: "This year placement is proving to be more of a challenge than usual. Obviously, adverse market conditions are a major factor. So far, 15 of 32 students looking for full time positions have received full time offers and 8 have accepted them. Students continue to get interviews for good quantitative positions at top firms, but the pace of offers lags behind previous years. Past experience has shown that we can expect many offers to come in the November to January time frame, but it would be dangerous to wait longer before acting."I don't know much about the Indian academic system, but I kinda think our friend pranks is a long-shot to get into the NYU program at its current sub-10% acceptance level. If pranks and SNWKW and anyone else checking this out really have their hearts set on studying in New York City, it's worth noting that there are at least six quantitative finance masters programs in NYC:1. Baruch College of CUNY (probably the easiest to get into and the least expensive, too, it includes Salih Neftci on its faculty)2. Carnegie-Mellon (actually based in Pittsburgh at their main campus, but they have a fully interactive electronic classroom site in NYC)3.-4. Columbia has two separate programs, one in the math department (with Ioannis Karatzas) and one in the IEOR department (with Emanuel Derman)5. NYU6. Polytechnic University (in Brooklyn)Of course, there may be others. Additionally, most MBA programs will have some sort of quant specialization track. Good luck!I can't comment personally on NYU, but I recently finished the MFE at Berkeley. The 100% full-time placement figure is absolutely accurate. The director of the program sent us periodic e-mail updates regarding placement and every student had been placed as of several months ago. My class collectively received ~100 job offers (I personally received three, but obviously only took one. )Regarding admittance statistics, I believe my class was in the 20-40% range as spoken about. Despite this, the caliber of students was extremely high (~40% already with PhDs, ~75% with perfect GRE quant scores). None of us were really sure how/why the admit rate was so high while still attracting top notch candidates. The only thing I could think of is that NYC schools received an inordinate number of apps on account of their proximity to Wall Street, but ALL the banks and many big hedge funds (SAC, Eton Park, Citadel, DE Shaw, etc) came to Berkeley to recruit. As it were, most of my class ended up in NYC anyway. Given the burgeoning nature of the field and desire for quant talent, I don't think you can lose at any of the top schools (UCB, NYU, CMU, etc.) and even with the "second tier" schools will position you pretty nicely for a quant role.
, but as such programs have increased in popularity, the application rate has soared and the acceptance rate has dropped. Here is what they said in an email to alumni a couple of weeks ago: "Applications to the full-time program have been growing by leaps and bounds from about 350 in 2005 to 500 in 2006, to over 750 this year. So while our class size has grown slightly, from 27 in 2005 to 33 in 2006, applications have grown even more rapidly. In other words, we have been able to maintain the same high level of quality students as in past classes. Admissions are very competitive. This year we accepted only about 9% of our applicants for full-time study." I saw an article on the UC Berkeley MFE website from the March/April 2006 Financial Engineering News (http://mfe.haas.berkeley.edu/download/f ... t_2006.pdf) which said "The program now has an annual intake of 60 students from applications that number anywhere from 200 to 400 each year." That's a bit ambiguous as to whether sixty is the class size or the number of students accepted; if it's the class size it sounds like the acceptance rate would overlap or exceed the 20%-40% range. That article also claimed a "100%" placement record for graduates. NYU used to make a similar claim, but in the same alumni email I quoted above they said: "This year placement is proving to be more of a challenge than usual. Obviously, adverse market conditions are a major factor. So far, 15 of 32 students looking for full time positions have received full time offers and 8 have accepted them. Students continue to get interviews for good quantitative positions at top firms, but the pace of offers lags behind previous years. Past experience has shown that we can expect many offers to come in the November to January time frame, but it would be dangerous to wait longer before acting."I don't know much about the Indian academic system, but I kinda think our friend pranks is a long-shot to get into the NYU program at its current sub-10% acceptance level. If pranks and SNWKW and anyone else checking this out really have their hearts set on studying in New York City, it's worth noting that there are at least six quantitative finance masters programs in NYC:1. Baruch College of CUNY (probably the easiest to get into and the least expensive, too, it includes Salih Neftci on its faculty)2. Carnegie-Mellon (actually based in Pittsburgh at their main campus, but they have a fully interactive electronic classroom site in NYC)3.-4. Columbia has two separate programs, one in the math department (with Ioannis Karatzas) and one in the IEOR department (with Emanuel Derman)5. NYU6. Polytechnic University (in Brooklyn)Of course, there may be others. Additionally, most MBA programs will have some sort of quant specialization track. Good luck!I can't comment personally on NYU, but I recently finished the MFE at Berkeley. The 100% full-time placement figure is absolutely accurate. The director of the program sent us periodic e-mail updates regarding placement and every student had been placed as of several months ago. My class collectively received ~100 job offers (I personally received three, but obviously only took one. )Regarding admittance statistics, I believe my class was in the 20-40% range as spoken about. Despite this, the caliber of students was extremely high (~40% already with PhDs, ~75% with perfect GRE quant scores). None of us were really sure how/why the admit rate was so high while still attracting top notch candidates. The only thing I could think of is that NYC schools received an inordinate number of apps on account of their proximity to Wall Street, but ALL the banks and many big hedge funds (SAC, Eton Park, Citadel, DE Shaw, etc) came to Berkeley to recruit. As it were, most of my class ended up in NYC anyway. Given the burgeoning nature of the field and desire for quant talent, I don't think you can lose at any of the top schools (UCB, NYU, CMU, etc.) and even with the "second tier" schools will position you pretty nicely for a quant role. Applying for MFE 2008.. What are the chances?
I am the director of the Baruch MFE Program. This thread being quite informative, I thought I should add the information for our program. The admission numbers for the Fall 2007 are: 337 applicants; 48 admitted (14% admission rate); 35 enrolled (19 full-time, 16 part-time); average GRE test scores of the admitted students: 795 Quantitative; 582 VerbalThe number of applications increased from 129 to 184 to 337, in the past three years, while the admission rate dropped from 28% to 23% to 14%. (We do not have separate numbers, or admission standards for full-time and part-time students.) In terms of placement, we place close to 100% of our students every year. This year we noticed a similar trend to that mentioned in the NYU email: people getting fewer offers, and later in the process than usually. We still expect that all our graduates will have a good job within three months of graduation (everyone had an internship over the summer, and that is usually a good indicator of success on the job market - although the current job market is different). Begin a small program, and quite selective in terms of admitting people, makes it somewhat easier to place our graduates.The admission and employment numbers can be found online athttp://www.baruch.cuny.edu/math/masters_admiss ... ew.htmlThe 2007 admission numbers have not yet been included in the web page though.