Can you tell us a bit about your background?
At the time of my application, I had worked for three years at a distressed debt hedge fund and was a Math, Computer Science, and Economics major from a top undergrad program in the US. Due to the fact distressed investing tends to be more fundamentally focused, I decided a formal education was probably the best way to learn about the quantitative side of things. I was admitted to the NYU MSMF full-time program though I ended up deciding to work while taking about 2 courses each Fall/Spring semester, 1 course each Summer semester. After two years of hard work, I graduate this month and will be joining JPMorgan as a VP Quantitative Analyst.
Why did you choose this program (over others, if applicable)
I was looking to get into a top program in New York that also provided flexibility to take classes part-time if I wanted. That narrows down the choices somewhat to NYU, Columbia MathFin, CMU, and Baruch. Of those four, I actually only applied to the first two, because NYU was my top choice and even if I were rejected, they give you the option to take four classes first on a non-degree basis and then receive credit if you do well and get admitted to the program the following year. For my consideration, NYU provided the best all-around combination of brand, alumni network, location, teaching style, and classmates. If I were deciding where to apply now purely as a full-time student, NYU would still be my top choice, with Princeton and CMU as top options as well.
What do you think is unique about this program?
Having a good school brand and large alumni network are definitely important factors for job placement, but all of the top programs have this. What some other top programs don’t necessarily have are: 1) great location for networking and job interviews and 2) having a small graduating class size. Having a small class size produces a more collegial environment where you actually know all of your classmates and everyone tries to help each other out. The last thing is the quality of the professors. Not to take away from the full-time faculty, but some of the best classes I have taken at NYU and what really differentiates NYU from other schools were from top-notch professionals who work in industry and who enjoy teaching so much that they basically volunteer their free time to do it. The disadvantage to having industry professionals as instructors is there is not as much time allocated to office hours, but we have dedicated TAs, and in my opinion learning how things are really applied in industry outweighs this drawback.
What are the weakest points about this program?
Probably the weakest point for this program in my opinion has been not enough focus on career placement, but that is also an area that is improving. Our program director is a well-known ex-Goldman alum who could be better at using available resources to source opportunities for internships and full-time positions. Currently, there are position postings available only to MSMF students as well as campus-wide postings, but the expectation has always been that the onus falls on the student to secure their internship and job opportunities. A couple years ago, the economics (supply and demand) was such that placement was pretty much guaranteed to be 100% year in and year out. Given that the landscape has become much more competitive, the reality is that all quant finance programs are focusing more of their resources on securing placement for their students. From anecdotal evidence, I know NYU has become more active in terms of finding opportunities for students, and so I expect that will continue.
Other Comments
I was happy with my decision to do the NYU program, even though it was definitely very challenging to balance the rigorous class workload with my job. If you have any questions, feel free to send me a PM.