MFE 金融工程硕士申请指南

[日期：2007-05-03]
来源：ChaseDream论坛 作者：ElementsAqua
[字体：大 中 小]
MFE（金融工程硕士，或者金融数学/数量金融/计算金融等，差别都不大）是90年代新兴的交叉学科项目。此学科深入使用数学、计算机技术解决金融问题。因为毕业生是去往金融领域就业的，所以它属于商科类项目。然而，它的课程的理工味道却非常浓厚。通常设在工学院或数学系下，由工学院、商学院、数学系联合授课。
MFE教学很短1-2年，大部分学校不提供奖学金（一小部分例外）。但是投资周期短、回报快，毕业生有机会进入投资银行、基金公司、风险管理部门等金融服务性行业或其他相关行业从事定量和技术性工作，而且也为理工背景的人提供了转行的机会。因此，这个项目的申请人非常多，而且逐年递增。今年康奈尔大学的FE program director就说他们的申请者是前年的2倍。
开设MFE的学校不是太多，而且申请人又很多，所以竞争非常激烈。MFE喜欢理工背景的学生（当然每年也有金融经济背景的学生被录取，但都是很优秀的，或者选过很多数学课），申请者最好有非常高的GPA，G/T成绩，并且有金融方面的实习经历和出色的个人陈述等等。
MFE是非常数量化的学科项目，之所以喜欢理工背景的学生是因为这些学生的数量基础好一些。当然如果不是数理背景、或是感觉自己数理基础不太好的同学，可以通过选修一些数学系的课程来弥补不足。以下是我推荐的一些课程（各个学校的偏好不太一样，给出的比较全面，也足够深了）：
微积分、线性代数
概率论、测度论
数理统计
偏微分方程
实变函数、随机过程
数值方法
C++编程、算法与数据结构
下面详细介绍一下美国的几个MFE项目，毕竟美国的金融市场最发达，MFE的就业前景相对好。注：以下顺序不完全是排名，以下15个项目也不一定是最好的15个，只不过是我的了解相对多一些而已。每个项目都有各自的特点，根据自己的需要选择项目是很重要的。另外，作为没有工作经历的学生，对1年的项目要谨慎，因为它不像1.5或2年的项目中间有个暑假可以找实习。所以选择1年的项目，就要尽可能选择好学校的。
（1）Master of Finance
@Princeton University
作为Ivy League中的佼佼者，普林斯顿这个无比光辉耀眼的名字，吸引着无数来自世界各地的求学者。这个项目设置在普林斯顿大学的Bendheim金融中心，是一个2年的项目，给最优秀的一位申请者提供奖学金。与其他MFE不同的是，它的课程很全面（毕竟是2年），比较重视理论。而且有专门的summer intern给学生提供实习机会。因为普林斯顿的名气和强大的校友脉络，毕业生就业很好。这个项目与MFE不太一样，非常重视金融方面（不光是数理），很难申请，班里只有30来个人，enrollment rate 10%以下，会有面试，必须是各方面都极为优秀的人才有机会，大部分有工作经历。基本没有从大陆（不包括香港）直接录取过本科生，但是今年有牛人创造了奇迹。
（2）Master of Science in Financial Engineering
@University of California—Berkeley
Berkeley在美国西部的名气仅次于斯坦福。Berkeley的MFE项目是全美名气最大的，是这个项目的首席代表。设在Haas商学院里，1年的项目，似乎没有奖学金，只有春季入学。Berkeley的MFE重视实践，而且由于是MFE中的老大，名气没的说，毕业生就业非常好。每年招60来个人，非常重视工作经历，而且这已经成为了Berkeley录取的一个无形标准。但与其他牛校不同，它不会在某些细节上苛求申请者，而重视综合指标和实践能力。
（3）Master of Science in Mathematical Finance
@New York University
纽约大学位于华尔街旁边——一个令无数人羡慕的最佳地理位置。这个项目设在纽约大学的Courant数学科学研究所下，1.5年的项目，数学味很浓厚，课程基本是固定的没选择性，没有奖学金。Courant的学者是欧洲古典哥廷根数学学派的传人，是世界顶级的应用数学研究部门。只招30来个人，因此这个项目的竞争的申请难度不比普林斯顿低。据说去年为了选拔出最优秀的申请者，筛到最后剩下的一批人基本都是GPA>3.7，GRE>1400，然后在用个人陈述定胜负。这个项目非常重视申请人的数学背景。纽约大学与金融产业界联系紧密，毕业生就业率好的不能再好。这也是它超级抢手的原因之一。今年它录取的华人比较多（以往是大量的法国人）。
（4）Master of Science in Computational Finance
@Carnegie Mellon University
卡耐基•梅隆大学的计算金融MSCF项目是美国金融工程的带头者，历史比较悠久。MSCF设在Tepper商学院下，接受GMAT成绩。1.5年的项目，学费奇贵但是奖学金是最慷慨的。课程比较重视计算机编程和金融实践，是所有MFE项目里课程设置最好的之一。卡耐基•梅隆大学的计算机科学是美国第一，Tepper商学院也是排名前20的，再加上MSCF历史悠久名气也不小，所以非常受欢迎，毕业生就业非常非常好。MSCF有两个教学区，一个在匹兹堡（本部），一个在纽约（远程教学）。两个区一共招生70多。它喜欢计算机背景好的学生，而且重视工作经历，会面试申请人，申请难度也比较大。它家审材料比较慢，有很多轮。
（5）Master of Science in Financial Engineering
@Columbia University
哥伦比亚大学占尽天时地利人和，地处纽约曼哈顿，又是Ivy（常青藤盟校），对中国人又比较友好，很受我们的青睐。它有两个项目，现在说的这个是MSFE，设在工学院的IEOR系下，1年而且7月就开学，只有个别奖学金名额，课程比较重视实践，对申请人的背景要求比较严，最好数学或物理背景的。由于招80个人（MFE第一大班），所以是MFE项目里申请人最多的，竞争激烈程度没有普林斯顿、纽约大学和斯坦福那么高但也不低。虽然班里学生泛滥，但是毕竟是Ivy名校又在曼哈顿，就业前景是挺不错的。但是注意这个项目是1年的没有时间实习。以往招的人不少，但是今年有点不幸，很少。
（6）Master of Science in Financial Mathematics
@Stanford University
世界闻名的斯坦福大学，有着与其极高的声望所相当的录取门槛。这个项目设在数学系下，1-1.5年，没有奖学金，课程非常理论化，偏重研究，例如可以选斯坦福商学院里Duffie教授的博士生课，此人是资产定价理论的世界级大师。这个项目每年招30个人，而且一小部分面向斯坦福的本科生。在众多开设MFE项目的学校中，斯坦福的竞争虽然不是最激烈的，但是录取标准是最严格的，申请人数理基础要非常好，而且又要对金融实业有很好的理解。被它拒过的人有的还得到了竞争更激烈的学校的录取，可见斯坦福的严格。不过今年，斯坦福录取了好几个北大复旦南大的牛人，感觉蛮慷慨了。
（7）Master of Engineering——Financial Engineering Option
@Cornell University
康奈尔大学坐落于纽约州西北部的小镇Ithaca，拥有着无与伦比的美丽的校园，以及卓越的名望。康奈尔的MFE设在工学院的ORIE系下，是工程硕士的一个方向。1.5年，有奖学金机会，课程有工科味道（计算机，工程类数学等），要求申请人具有一定数学能力和编成能力，部分人会有面试。康奈尔地处偏辟的乡间，与纽约市有4小时车程。但因为ORIE系在曼哈顿有一个OR办公室，会在项目中间给学生寻找纽约的实习机会，所以很不错。它跟普林斯顿和哥伦比亚同样是Ivy，而且离纽约市也不太远，又有summer intern，所以毕业生就业应该很不错。因为是工程硕士的一个方向所以招生很少，据说去年才20来个，不过今年扩招了（因为申请人太多），但是竞争依然很激烈。
（8）Master of Science in Financial Mathematics
@University of Chicago
拥有着美国最多的诺贝尔奖得主的芝加哥大学，是美国研究型大学的典范，并且号称世界经济学和金融学研究的圣地。但是这个项目是设在数学系下的，而且课程非常理论化，数学味极浓（这与芝加哥大学的研究性特点很相符），1年的没有奖学金，这意味着没有实习的时间。芝加哥大学对TOEFL成绩要求是美国最变态的（新TOEFL各项26以上），而且这个项目要求GRE数学sub考试（而很多人没有），所以能申请的人不多，竞争不是太激烈，今年拿到他家录取的人不少。另外值得注意的是，有的人可以免数学sub考试，甚至可以达不到TOEFL单项的要求，但具体还看条件。据该项目的program director说就业率还是不错的，毕竟是在北美第二大金融中心。
（9）Master of Science in Financial Engineering
@University of Michigan—Ann Arbor
位于优美宁静的北方小镇Ann Arbor的密歇根大学，是美国一所享有盛誉的综合性大学。它的MFE设在Rackham研究生院内。1.5年，没有奖学金，有学前教学7月份开始。课程灵活度很高，有很多商学院、工学院和数学系的课可以自由选择。这个项目以往招70多人，对GRE有要求（Quant至少720，AW至少4.0）。过去很容易申请，但是今年缩减人数，录取率一下降低了，而且开始有面试。这个项目可以延长到2年，有个暑假可以找实习。尽管Ann Arbor地方比较偏intern不好找，但是full-time就业情况不错，仰仗着密歇根大学的名望和同校的Ross商学院的魅力，美国的主要大行都会专程来Ann Arbor开宣讲会。
（10）Master of Art in Mathematics with Specialization in Mathematics of Finance
@Columbia University
这是哥伦比亚大学的第二个项目，称MAFN，设在数学系下。MAFN课程偏重数学理论一些，而不像MSFE比较重视金融实践。整体质量（包括培养目标、课程设置、师资力量等）比工学院的那个MSFE要差。也是1年的没有奖学金。申请的人比MSFE偏少一些，但是招的人也不多30来个。因为目前关于这个项目的信息不太多，1年的没有实习时间，是个劣势。但是据内部人士透露，这个项目就业似乎还可以，毕竟有哥伦比亚的名气撑着。
（11）Master of Science in Quantitative and Computational Finance
@Georgia Institute of Technology
佐治亚理工学院（GaTech），与麻省理工学院（MIT）和加州理工学院（CalTech）并称为美国三大理工学院。它的工学院是仅次于MIT和CalTech的。GaTech的这个MQCF项目没有开设单位，可以由学生自己申请将学籍保存在工学院、管理学院、数学系中的一个。1.5年的项目，可延长到2年，有奖学金名额。 如果通过管理学院申请的话可以用GMAT申请。竞争度不是太激烈。这个项目以往招40多人，就业情况还是挺好的，所在的Atlanta市（可口可乐的故乡~）经济也比较发达，和北卡罗来纳州的一部分合起来是美国东南部的新经济区。不过今年似乎明显扩招了。
（12）Master of Science in Applied Mathematics for Finance
@City University of New York—Baruch College
纽约城市大学巴鲁学院的这个项目设在Zicklin商学院下。1年的项目，接受GMAT成绩，似乎没有奖学金但学费比较便宜，课程偏重实践。巴鲁学院的Zicklin商学院学术声望非常一般，但是地处曼哈顿黄金地段，与业界有联系。这个项目的director办这个项目非常用心，而且Zicklin规模很大，院里的老师也非常积极帮学生联系实习和工作，他们很注重学生就业。所以，非常看重纽约的人有很多都会申请这个项目。录取率在20-30%左右，不是很激烈也并不轻松，重视工作经历，这点有点像卡耐基•梅隆。虽然学校整体排名不高，但是就业服务不错，而且在纽约市有一定的声望，所以就业应该也还可以的。
（13）Master of Science in Mathematics with Computational Finance Specialization
@Purdue University—West Lafayette
普度大学是一所饶有名气的大学，位于印第安纳州。它有两个计算金融的硕士项目，现在说的这个设在数学系下，2年，课程饱满，并且有奖学金。普度大学对计算金融很重视，这点从它的MS、PhD、MBA三种项目都有计算金融方向的特点就可以看出。项目还是有一定名气的，但是学校地理位置比较一般，因此就业情况不太清楚。
（14）Master of Science in Statistics with Computational Finance Specialization
@Purdue University—West Lafayette
这是普度大学的另一个计算金融硕士项目，是设在统计系下的，也是2年并且有奖学金机会。和数学系那个有什么差别我也不太了解，只能从课程上观察，可能比较偏统计和实证。
（15）Master of Science in Mathematical Finance
@University of Southern California
南加州大学地处繁华的洛杉矶（据说奥斯卡颁奖典礼曾经在这个学校的礼堂举行），在美国西部8所名校之一。项目的名气比较一般，但是学校的声望和地理位置都是很好的，这个项目设在数学系下，据说学费比较贵。具体就业情况就不知道了。
美国还有一些学校还设MFE项目，例如University of Wisconsin—Medison，North Carolina University，Rutgers University，Boston University，Polytechnique NY，Illinois Institute of Technology，Claremont Graduate University等等。
其他国家和中国香港也有开设MFE的，例如：
加拿大：University of Toronto，York University
英国：University of Edinburgh
新加坡：南洋理工大学
香港：香港科技大学
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FE programme list

Asbury College
BA Financial Mathematics

Ball State University
BS Financial Mathematics

Bar Ilan University
MSc in Financial Mathematics

Baruch College
MS Financial Engineering

Bentley College
MS Finance

Birkbeck University
MSc Financial Engineering

Bogazici University
MS Financial Engineering

Boston University
MA Mathematical Finance

Brandeis University
MS Finance

Cambridge University
MPhil in Finance

Carnegie Mellon University
MS Computational Finance
PhD Mathematical Finance

Cass Business School
MS Mathematical Trading and Finance and
MS in Finance, Economics and Econometrics

City University of Hong Kong
MS Financial Engineering

Claremont Graduate University
MS Financial Engineering

Clark University
MS Finance

Columbia University
MS Financial Engineering
MA, Mathematics, with specialization in the Mathematics of Finance
MS, Industrial Engineering and Operations Research
Financial Engineering courses available

Cornell University
MBA Financial Engineering
M. Eng in Operations Research & Industrial Eng.

DePaul University
MS Finance/Risk Management/Financial Engineering

Dublin City University - Ireland
MS Investment and Treasury
MSc Financial & Industrial Mathematics

Erasmus University Rotterdam
Master in Quantitative Finance

ETH Zurich
MS Finance

Fairfield University-Dolan School
MS Finance

FAME: International Center for Financial Asset Management and Engineering - Geneva
Executive Education Program, including courses in Alternative Investments and Financial Engineering.

Florida State University
MS & PhD Financial Mathematics

George Washington University
MS, Finance

Georgia Institute of Technology
MS Quantitative and Computational Finance

Georgia State University
Mathematical Risk Management

Glasgow Caleonian University
BS Financial Mathematics

Golden Gate University
MS Finance with Concentration in Management

HEC, Montreal
MS Financial Engineering

Hofstra University
MS in Quantitative Finance

Hong Kong University
MF Financial Engineering, MF Risk Management

Hong Kong University of Science and Technology
MSc Investment Management
MSc Financial Analysis

Illinois Institute of Technology
MS Finance
MS Financial Markets

Imperial College of Science, Technology and Medicine
MSc Mathematics and Finance

International University of Monaco
MSc Financial Engineering

James Madison University
BS Quantitative Finance

Johns Hopkins University Graduate School of Business
MS Finance

The Karol Adamiecki Academy of Engineering
MS Financial Engineering and Banking

Kent State University
MS Financial Engineering

King's College London
MSc Financial Mathematics

Lavel University
MS Financial Engineering

Leicester University
MSc Financial Mathematics and Computation

Liverpool John Moores University
MSc International Banking and Finance

London Business School
Masters in Finance

London Metropolitan University
BSc Financial Mathematics

Louisiana State University
MS Finance with Minor in Mathematics

Loyola College
MS Finance

Malardalen University
MS Financial Engineering

Manchester Business School-Manchester University
MSc Finance
MSc Quantitative Finance and Finance
MSc Mathematical Finance

Massachusetts Institute of Technology
MBA with Financial Engineering Track

Middle East Technical University
MSc Financial Mathematics

Multimedia University, Malaysia
Bachelor of Financial Engineering

Nanyang Technological University
MS Financial Engineering

National Tsing Hua University, Taiwan
MSc Quantitative Finance

National University of Singapore
BS and MS Financial Engineering

New York University
MS Statistics and Operational Research, Financial Engineering Specialization

New York University, Courant Institute of Mathematical Sciences
MS Mathematics in Finance

North Carolina State University
MS, Financial Mathematics

North-West University
MSc Financial Mathematics
MSc Quantitative Risk Management

Northwestern University
MS, Industrial Engineering and Management Sciences
Financial Engineering Concentration available

Oklahoma State University
MS Quantitative Financial Economics

Oxford University
MSc Mathematical Finance

Polytechnic University
MS Financial Engineering

Princeton University
MSE, Ph.D Operations Research and Financial Engineering

Purdue University
MS Computational Finance

Queen's University
MA Financial Economics (specialisation in Computational Science and Engineering)

Queen's University Belfast
MSc Finance

Rutgers Business School
Master of Quantitative Finance
MS Quantitative Finance

Rutgers University (New Brunswick/Piscataway campus)
MS in Mathematical Finance

Stanford University
MS, Financial Mathematics
MS, Management Science & Engineering

Stevens Institute of Technology
Graduate Certificate in Financial Engineering
MS, Financial Engineering

State University of New York at Buffalo
MS, Finance

Stony Brook University
MS Applied Mathematics and Statistics (Quantitative Finance)

Suranaree University of Technology
PhD Financial Mathematics

Texas A&M University
MS Financial/Industrial Mathematics

Tilburg University
MSc Quantitative Finance and Actuarial Science

Tulane University
MS Finance

Universidad Carlos III of Madrid
MSc Financial Analysis

Universisad de Belgrano
MA Financial Engineering

Universidad Nacional de Educación a Distancia
MSc Stock Markets and Financial Derivatives (Spanish)

Università Bocconi
MA Quantitative Finance & Risk Management

Université de Montreal
MSc Financial Mathematics & Computational Finance

Université Laval
MSc Financial Engineering

Universiteit van Amsterdam (Korteweg-de Vries Institute)
With Vrije Universteit & Universiteit Utrecht
MSc Stochastics and Financial Mathematics

University College Dublin
MSc Quantitative Finance

University of Alabama
MS Finance

University of Alberta
MSc in Mathematical Finance
PHD in Mathematical Finance

University of Arizona-Eller
MS Management with Concentration in Finance

University of California at Berkeley
MS Financial Engineering
Certificate in Financial Engineering, Executive Education

University of Capetown
MSc Mathematics of Finance

University of Chicago
MS Financial Mathematics

University of Connecticut
MS Applied Financial Mathematics

University of Dayton
Masters of Financial Mathematics

University of Denver-Daniels
MS Finance

University of Edinburgh
in partnership with Heriot Watt University
MS Financial Mathematics

University of Exeter
MSc Financial Mathematics

University of Florida
Warrington College of Business Administration
MS, Finance

University of Hong Kong
Masters of Finance - Financial Engineering and Risk Management Tracks

University of Houston-Bauer
MS Finance

University of Illinois at Urbana-Champaign
College of Business
MS, Finance

University of Karlsruhe
MSc, Financial Engineering

University of Leeds
MSc Financial Mathematics

University of Leicester
MSc, Financial Mathematics and Computation

University of London
Birbeck College
M.Sc. in Financial Engineering

University of Melbourne
MSc Applied Finance

University of Michigan
Financial Engineering Program

University of Minnesota
Master of Financial Mathematics

University of New South Wales
Master of Financial Mathematics

University of North Carolina, Charlotte
M.S. Mathematical Finance

University of Oxford
Diploma in Mathematical Finance

University of Piraeus (in Greek)
MSc in Banking and Financial Management

University of Pittsburgh
Professional Science MS Mathematical Finance

University of Pretoria
MS Mathematics of Finance

University of Reading
ISMA Centre, the Business School for Financial Markets
MS Financial Engineering and Quantitative Analysis

University of Rochester
Simon School of Business Administration
MS, Finance

University of Southern California
Professional MS in Mathematical Finance

University of St. Gallen
Master Quantitative Economics and Finance

University of Stellensboch
MComm in Financial Risk Management

University of Thai Chamber of Commerce
BSc Mathematical Finance

University of Technology, Sydney
Master of Quantitative Finance

University of the Free State
MSc Mathematical Statistics

University of Torino, Italy
Masters in Quantitative Finance

University of Toronto
Master of Mathematical Finance

University of Tulsa
MS in Finance / Risk Management

University of Twente, the Netherlands
Masters in Financial Engineering

University Of Valencia, Spain
PhD, Quantitative Finance

University of Warwick
MS Financial Mathematics

University of Waterloo
Mathematical Finance

University of Western Ontario
MS Applied Finance-Financial Mathematics

University of Westminster
MSc Quantitative Finance

University of the Witwatersrand-Johannesburg
MCom Finance

University of York
MSc Mathematical Finance

UQAM
MSc Applied Finance

Vanderbilt University- Owen School
MS Finance

Vienna Institute of Technology
Financial and Actuarial Mathematics

Virginia Commonwealth University
Bachelor of Science in Financial Technology

Vrije Universteit Amsterdam, Universiteit Utrecht & Universiteit van Amsterdam
MSc in Stochastics and Financial Mathematics

Warwick University
MSc Financial Mathematics

Worchester Polytechnic Institute
MSc Financial Mathematics

York University
MS Financial Engineering

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some info about the MFE (分享)

**** from UC- Berkeley MFE:
My class had an average experience of 5 years, but if you take three or four outliers with significant experience (10+ years) the average experience may go down to 3 to 4 years. That's the experience of the current class and what most students bring to the program. I entered the program with a GRE taken in 1999, 790Q and 780A. My undergraduate GPA (electrical engineering) was 3.3 and had graduate degrees in business administration and financial economics. I also had 3 years of work experience.

Q:how many fresh undergrads got accepted for the current year?

A:well, from personal experience i can tell you that if you are a very industrious student and have a strong relationship with a professor, it MAY be possible to get accepted into a masters level program, directly after college graduates IF and only IF you are attending that same school as an undergrad.

i have heard of favorite/promising students being ushered into masters at some of the mediocre schools, but it is simply not done at the top schools. frankly, undergraduates have almost nothing to bring to the table in comparison to a EE or math/stat phd who wants training in finance. work experience is probably what you should be thinking about as a recent college grad, unless you get near perfect quant on gre, and math subject test. in that case you prolly have a shot at chicago, rutgers, polytechnique, baruch. ask others on this forum what they think.


**** from cornell MFE: (email)
Hi ***,

From what I can see, you have an excellent GPA score(>3.9/4) which will stand u in good stead. Your Toefl is normal(266/6). I would advise you to try as much as possible to do well in ur GRE especially in the Quantitative part. The top schools put more weightage on ur quantitative part than ur verbal part.

Next, you will need about 3 recommendation letters. These letters play an important part in selling you to ur prospective university. Since you are still an undergrad, you should start building a strong rapport with a few professors so that they will know you better and when 2008 comes, you can enlist their help in helping you write a solid recommendation letter.

Not to forget, the Statement of Purpose (SOP) I feel is extremely important to the Americans! As you should know, MFE is now highly sought after but the class size is still very small (about 35-40). Hence, you really need to write an excellent SOP to distinguish yourself from the rest of the ppl seeking to enrol in MFE as well. You should not try to sell urself in the SOP but rather focus on why u tink MFE is so critical to ur career advancement. In other words, you must tell the uni clearly why they should award u the place and not the others.

Finally, the only blemish that I can see is that you do not have any working experience. If you have done ur homework, you will see some of the top schools like UC Berkeley, their students' average working experience is 5 yrs. This will surely put u in a very unfavourable position.

However, do not be discouraged! I am a living example that you can get into a good program without prior working experience as well. In fact, I would consider myself to be very lucky. I graduated only in May this yr. I was initally rejected by Cornell but after appealling, they put me on the waitlist. 3 weeks before sch starts, they informed me that they are accpeting me. However, the time given to me to prepare myself and go over is too short hence I asked for a deferment to start the course only in Jan 07.

My background is:

-Second upper honours in Mechanical Eng from Nanyang Technological University.
-Toefl: 293/300
-GRE: 800/800 Quantitative
420/800 Verbal
4.5/6 Writing

Hope the above information helps!
Cheers

reagarding the working exp

Hey ....

Of whatever I have seen, a lack of work experience should not hinder your chances of being accepted by a top MFE program.... If you have a strong GPA (and your math grades are exceptionally good) along with a perfect QUANT score on the GRE (the subject GRE is not a must to be honest)... you have a great chance of being accepted by NYU,CMU,Columbia,UChicago,UMich and Cornell.... I know of many guys from India who have managed to get admits from these schools straight out of undergrad....

Let me elaborate a bit on this.....

Carnegie Mellon University:

CMU does publish on its website that the average age of the class is 28 to 29 years... But that is after taking the part timers into consideration.... Obviously these guys have a lot of work exp and are already in the Financial Services Industry and are using the MSCF only as a means to leverage their career prospects.... Plus there are a few outliers with say 10 to 12 years of work exp which highly skew these kind of statistics....

There are quite a few ppl who have had between 2 to 6 years of work exp in IT who come to CMU... Most of them are career switchers.....Now 6 years of work exp in IT may count for a lot on the face of it but for the recruiter these guys are still considered to be freshers to financial services.... If u have an academic record somewhat similar to someone with six years of IT work exp I would say u have an equal chance of being admitted to CMU... I have seen this among many students this year....

New York University:

NYU has admitted quite a few freshers this year. But I would like to add that these are students with strong academic credentials and very strong math grades at the undergraduate level. NYU is one of the most math-centric programs(it is housed in the Courant Institute of Mathematical Sciences) ... So the incoming class does have to show a good record at the pre requisites.... But I would still say you have a chance at NYU even without work exp

Columbia,Stanford,UChicago,UMich and Cornell also admit students with strong academic credentials and no work experience....

That said, an internship at a Top I Bank or any other Financial Services firm will REALLY boost your application and push you high up on the pecking order....

Stanford does mention that prior exposure to the Finance industry in the form of a full time job or an internship will be preferred and that it may help compensate for a slightly less impressive mathematical background..... UC Berkeley accepts just 5 students out of its class of 60 who have no work experience whatsoever... So the chances there are slim too....

The application process to Polytech and IIT is a joke.... I hope the students headed to these schools dont get offended by my comments... But I have not seen even a single student being rejected by these schools... They admit almost everyone....

My advice to you would be to get a perfect score on the GRE quant... a decent enough score on the GRE Verbal.... and if possible try to secure an internship at one of the I Banks.....

In addition write a good personal statement and try to ensure that u get strong recommendations from your professors...(get them to speak about your mathematical abilities)....

If u do this and provided ure academic record is brilliant, I dont see any reason why you dont stand a chance of getting admitted from everywhere except UCB and Princeton.....

if you have money constraints on applying to more than three schools then how do u plan to fund your MFE... Very few schools offer any kind of financial assistance or scholarship.... I suggest you apply to atleast 8 schools.. Do not worry too much about the cost of making the application.... It may set you back by a maximum of 1000 USD but compared to the fees you will be paying for ure MFE this is a miniscule amount....

You should mention the fact you have learnt trading currency in your personal statement... AND I WOULD STRONGLY RECOMMEND TAKING THE CFA LEVEL 1 ... it shows the adcoms that you have the motivation to enter the field of finance.... And since ure major is in math I dont think you really need the subject GRE.... Once again i would like to stress the importance of getting a good quant score on ure GRE... IMHO anything other than a perfect score is poor for a math undergrad.... U shudnt go below a 790 under any circumstances if u want a shot at the big univs given ure lack of work experience....

As for univs I think you should choose from the following : I am giving the cost of application for your reference.....

NYU 80 $
Columbia Financial Engineering 45 $
CMU 100 $
Stanford 105 $
UChicago 55 $
Cornell 70 $
UMichigan 75 $
Georgia Tech (They offer good financial assistance) 50 $
Baruch 135 $
IIT(This is a mere safety)

I honestly feel you should not apply to UCB or Princeton because it will be difficult for you to get in there with your profile... Also since you have cost restraints while applying... UCB application fee is 225 $ ... In that amount u could apply to Columbia FE (45$) NYU (80$) Georgia Tech (50$) UChicago (55 $)....

What I mean to say is that for the same amount you could apply to three universities atleast instead of UCB where your chances of getting in are quite slim to be honest....

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