UCLA MFE 2023 "Ask Me Anything" with the Executive Director of the UCLA Anderson MFE program

[OoozeDonatin]

Dear Professor Alysa, thank you so much for doing this.

From your point of view, why is GRE important? Is it a predictor variable of what exactly?

Additionally, what role might play strong volunteering experience (say the war in Ukraine) when assessing a candidate? What would predict both as prospective student, student, and then alumnus?

 

[Tigga]

Sorry - I think my message response was cut off. Here is the full response: Dear "TIgga". I'm curious if you are applying to programs? Are you a prospective student or alum? I'd love to know more about the context of your background so I can tailor what I highlight in particular. Yes, there have been many changes and this will help me tailor my response. Are you perhaps an alum or affiliated with UCLA Anderson MFE?

Hi Alysa,
I'm a long time member here and a finance professional working in NYC. I'm familiar with many MFE programs, known many MFE graduates and how the programs changed for better or worse over the years. The west coast has 2 popular programs UCB MFE and UCLA MFE and both are based out of their respective business schools. I know Linda from UCB MFE just left last year after a long tenure and Rick from CMU MSCF is retiring as well.
I'm just curious to hear about your approach leading the UCLA MFE program.

 

[mr_spectre]

Hi, I wanted to ask you if UCLA MFE graduates got employed in core quant roles in Chicago. Among the locations listed on the website, Chicago seems to be missing. Wanted some clarity if only a few percentage of grads got employed in Chicago or none of them.

 

[simaroberoi]

@Committed_to_UCLAAndersonMFE Hi, I got the email saying my interview and application are still being reviewed. I have a deposit deadline from another program approaching soon. I just wanted to ask if emailing the department about the offer from the other program will make my decision process any faster. Thanks for your help!

 

[Committed_to_UCLAAndersonMFE]

Dear Professor Alysa, thank you so much for doing this.

From your point of view, why is GRE important? Is it a predictor variable of what exactly?

Additionally, what role might play strong volunteering experience (say the war in Ukraine) when assessing a candidate? What would predict both as prospective student, student, and then alumnus?

Dear "OoozeDonatin", thank you for your questions. I am glad you brought up about the GRE. It's an interesting question as I know that some of our peers are now GRE optional. I think that makes sense for other types of specialized masters programs (such as the MBA), however for our program, it is an important data point for assessing if individuals can make it through the rigor of our program. As the students say, this program is not for the "faint of heart". In other words, if you are looking for an academically rigorous and challenging program, where you are stretched, grow and learn, you will find that at UCLA Anderson MFE. We do review applications holistically, so it's not that the GRE is the only indicator, but we have seen that there is a correlation between scores and outcomes in both academics. There is the diversity argument, and it is a good one. I will say that we are 100% committed to those efforts and we still believe that in this program, the GRE is a necessary data point to assess. We do not want to take in students that we do not think can make it through the program academically. That would be disingenuous. It's a careful balancing act!
As for your question regarding volunteer work, it goes back to the holistic review of your application. Every feature is looked at and taken into consideration. Volunteer work and anything outside of the classroom to show more about you as a "whole person" is helpful. Our students are not only brilliant, they also shine in other capacities. When we talk to employers it's the soft skills (communication, presentation, energy, etc) that are the stand out features time and time again. We do our best to foster those within our program. It's part of our business school advantage!

 

[Committed_to_UCLAAndersonMFE]

Hi Alysa,
I'm a long time member here and a finance professional working in NYC. I'm familiar with many MFE programs, known many MFE graduates and how the programs changed for better or worse over the years. The west coast has 2 popular programs UCB MFE and UCLA MFE and both are based out of their respective business schools. I know Linda from UCB MFE just left last year after a long tenure and Rick from CMU MSCF is retiring as well.
I'm just curious to hear about your approach leading the UCLA MFE program.

Dear Tigga, thank you for the additional context and for your engagement with the community. I am impressed by your knowledge and insight! I believe you are correct in your assessment that the top popular programs on the west coast are, UCLA Anderson and Berkeley's program. You are also correct that there has been a lot of changing in the landscape. Linda has retired and she was a key figure in the employer relations of that program. She created and maintained many of the employer relationships on the east and west coast. Yes, Richard Bryant is also retiring. He also built out the CMU structure for that program. In terms of my approach to leading the UCLA Anderson MFE program when I joined over 2 years ago I noticed that this program was a bit under the radar screen. The students were absolutely fantastic, the alumni community very tight and supportive and the faculty renown and stand out. One of my many strategic goals was to shine a light on the strength of this program. In collaboration with the MFE team, we have been doing just that. Another strategic goal was to make it more clear that we HAVE MANY ALUMS IN NYC. We HAVE AN EAST COAST NYC PRESENCE. It was again, just a lack of promoting. I also did see that there is an opportunity to do even more in the NYC space. Given we have to compete geographically, I wanted to make it an easier transition for those who do want to work in NYC. We hired a full time senior career consultant with wall street experience who is based in NYC. She is on the ground talking to employers every week. Building relationships and maintaining those with our alums. We want to make sure that prospective and current students know that they can certainly stay on the west coast (many do want to stay) AND there is the absolutely possibility to go to NYC, east coast, Chicago, etc. The other unique feature we have is being housed in a Business School. Many of our peer programs are in engineering or math. I truly believe (and I hear the students echo this sentiment) that being in a business school offers clear advantages and access to resources and a network that is unparallel. Some examples, the Fink Center for Finance, social events (we just co hosted a social mixer with our FEMBA and MBA Parker Career Center this week), Fellowships such as the Fink Center Quant Finance Fellowship, Anderson signature events (Wooden Awards, Velocity Womens Business Conference next week), the Accelerator Venture, and the list goes on. We also have a network of 42,000 alums and access to a committed alumni office. Our graduates have access to alumni career coaches, domestic and international events and a team of alumni administrators. Related to our business school advantage, another strategic intiative was to leverage the "soft skills" that we already have for the MBA and FEMBA program. This year we brought in Professor McCann with an expertise in communication to offer a 4 part series to our students. We are exploring other areas to tap into -- leadership, negotiation, etc. We believe this is necessary and a game changer for our students. Last but definitely not least, I have helped build out an amazing team of individuals. They are 110% dedicated to our students and alums. We all go above and beyond to support them. I encourage all prospective students to make sure to reach out to a current student and recent alum and ask "What level of support do you receive"? I welcome prospects to speak with our students and alums and I will take the time as well. I stand behind the quality of our program and the student experience and it shows in the rise in our rankings and the strength of our employer outcomes. I hope this answers your question Tigga. Happy to have a 1 on 1 as well. Let me know.

 

[Committed_to_UCLAAndersonMFE]

@Committed_to_UCLAAndersonMFE Hi, I got the email saying my interview and application are still being reviewed. I have a deposit deadline from another program approaching soon. I just wanted to ask if emailing the department about the offer from the other program will make my decision process any faster. Thanks for your help!

Please send me an email and attach the information about the other competing offer. If they provided you with funding, please know that they may NOT pressure you to give a response before April 15th. That is against the graduate school alliance agreement. alysa.turkowitz@anderson.ucla.edu

 

[Committed_to_UCLAAndersonMFE]

Hi, I wanted to ask you if UCLA MFE graduates got employed in core quant roles in Chicago. Among the locations listed on the website, Chicago seems to be missing. Wanted some clarity if only a few percentage of grads got employed in Chicago or none of them.

This is a great question and you are right that we don't have a large # of immediate graduates who are Chicago bound from the program. That being said, we do have a # of alums there. I just did a search and there's more than a handful. We tend to have maybe 1 - 2 a year go from the program directly. We have more students landing in NYC in trading roles. I also think (guessing) the weather plays a bit of role. It's hard to go from LA to Chicago! I have no doubt that for anyone targeting Chicago, it is an option. I have seen the last few batches that were interested successfully land there. I should remind you that we also have a very large number of Anderson alums (MBA, FEMBA) that are based in Chicago at top firms. There is a large network to tap into for any individual search.

 

[drsocrates]

@Committed_to_UCLAAndersonMFE, I have started a 6-month internship with a prop shop in January. I recently completed my first project in that firm. I haven't included the internship in my application as I had submitted it in December. Will it affect my application positively, if I email my updated resume to the admissions office along with the details of the internship?

 

[Committed_to_UCLAAndersonMFE]

@Committed_to_UCLAAndersonMFE, I have started a 6-month internship with a prop shop in January. I recently completed my first project in that firm. I haven't included the internship in my application as I had submitted it in December. Will it affect my application positively, if I email my updated resume to the admissions office along with the details of the internship?

Thank you for your question and interest in our program. I would say it certainly doesn't hurt. You can send an email with this information and it will get added into your application. Good luck! mfe.admissions@anderson.ucla.edu

 

[simaroberoi]

@Committed_to_UCLAAndersonMFE I had some questions about the program:
1. According to my thinking, the biggest plus point of programs in NYC in comparison to UCLA is their location. However, I have seen several posts on Quantnet of past and current students at UCLA who say that the LA location is not a drawback at all. Is it possible for you to give me some insight into how the students are prepared for job interviews, resume critiques, etc?

2. I have always been someone who gives more importance to mathematics than anything else, and therefore mathematical rigour is something I look for in a program. Can you share some information on about the strength of the curriculum, given that the program is offered by the business school?

 

[Committed_to_UCLAAndersonMFE]

Thank you for your question. I will address in 2 separate replies as both are quite lengthy....
I am curious if you’ve had a chance to review our website on this topic yet? We have up to date information and statistics and I’ll highlight some of that. I recommend that all prospective students take the time to review websites closely on what they offer in terms of professional support.
Some UCLA Anderson MFE highlights:

• We have 4 team members focused on your professional support. Everything from resumes to behavioral interview preparation, etiquette workshops and business communication skills (and more). We just graduated 79 students from Class of 22. We prioritize trying our best to know all of our students. We require appointments with our career team members every quarter. It’s this type of individualized hands on support that helps you have successful employer outcomes.
• Our efforts can be seen in our results. The base salary for last year’s class was $116K and this year’s base for 2022 graduates is already exceeding that number (within a somewhat challenging market).
• We REQUIRE a capstone project and a summer internship or fieldwork (research/project) experience. Both are required because we believe it’s necessary to provide our students with the best preparation possible for the full time search. It adds at least 2 new resume experiences before graduating in 15 months. Check and see if other programs you are applying to offer and/or require either.
• We have a required 2 quarter Career Development Series.
• We offer a 4 part Business Communication series as part of our Career Development Series. This is a benefit of the “Business School Advantage” where we are able to leverage internal Anderson resources with a professor of Communication who can help support our students in this capacity. We hear from employers time and time again that it is the communication and presentation skills that is critically helpful for interviewing and landing the job.
• Last year, I launched an Alumni Career Coaching Program which has also been quite successful. You can make appointments with alums the same way you would with our career team and they are there to provide more insider information in regard to various career paths.
• There are many more opportunities to leverage our business school advantage in ways that are impactful in terms of networking and employer outcomes. For example, we collaborate with the Fink Center for Finance, the Alumni Office which connects our students to 42,000 Anderson alumni and many “Anderson signature events and conferences”. This week is Velocity. I would also credit this to the “Business School Advantage”.
• Lastly, in reference to NYC, you are correct that being in LA is not necessarily a disadvantage. We have a Senior Career Consultant with wall street experience, Olga Inglis, who is on the ground in NYC maintaining relationships with our NYC based alums, as well as building and strengthening relationships with key employers/companies in NYC. We currently have about 1/3 of our class placing in NYC/east coast area. I have seen now that many students come in wanting to go to NYC and then decide to stay in LA because of the weather (as a former New Yorker, I will say it really is a game changer!) and also because there are many opportunities here on the west coast. As one of our MFE Advisory Board members said to me once, “You can either be a big fish in a small pond in LA or a small fish in a big pond in NYC”. Neither option is wrong, it’s just up to the individual.

 

[Committed_to_UCLAAndersonMFE]

2. I have always been someone who gives more importance to mathematics than anything else, and therefore mathematical rigour is something I look for in a program. Can you share some information on about the strength of the curriculum, given that the program is offered by the business school?

Our academic program is rigorous and challenging. the 15-month curriculum integrates mathematical, statistical, and computer science tools with finance theory as applied in institutional settings. MFE students are challenged with a curriculum that is solidly based on the business school paradigm of providing students not only with technical knowledge, but also with the business knowledge and skills they will need to function in management position in the financial industry. As part of the MFE Program, students learn not only computational methods but also much of the foundational business knowledge taught in the UCLA Anderson MBA Program, including areas such as accounting, economics, econometrics, finance and much more. The Internship/Applied Finance Project serves as a capstone to the MFE curriculum. Our courses are taught in Python and R.

 

[MathiasXu]

I'm a round 1 applicant who already finished the interview on Feb., but still not receive the result email. Does this mean I am waitlisted?

 

[kaventkw]

@Committed_to_UCLAAndersonMFE I have been admitted by UCLA (THANK YOU SO MUCH BTW!) and have some questions about my admission:
1. I realised under the employment report that not as many hedge funds/market makers are advertised under the recent employers portion. Could you elaborate on why? I have a specific interest in that space during to a personal goal.
2. I am pretty strapped for funds and might have some trouble attending the programme without some funding. Is there some way I can appeal for a larger scholarship to help with finances?

Thanks for the advice

 

[dorian]

@Committed_to_UCLAAndersonMFE

Dear Alysa,

Thank you for doing this informative and helpful Q&A. I was admitted to the program for Fall 2023 and would like to please ask if there is an admitted students' day at UCLA specifically for MFE students. I received a couple of emails for generic events, but would really like to attend one specific to the program.

Best,
@dorian

 

[Enruiz]

@Committed_to_UCLAAndersonMFE

Hello,

Hope all is good,

I wanted to ask: what is the typical timeline for round 2 applicants? When is the interview usually sent and conducted, and what is typically the latest date one can receive an answer? Also, does anybody get admission to the program without an interview?

Thank you in advance and Best Regards,

 

[Committed_to_UCLAAndersonMFE]

I'm a round 1 applicant who already finished the interview on Feb., but still not receive the result email. Does this mean I am waitlisted?

Dear MathiasXu, I'm not sure if we've already been in touch but just in case, feel free to emal me and I can verify where you are in the pipeline for admission results. I'm at alysa.turkowitz@anderson.ucla.edu. Good luck!

 

[Committed_to_UCLAAndersonMFE]

@Committed_to_UCLAAndersonMFE

Hello,

Hope all is good,

I wanted to ask: what is the typical timeline for round 2 applicants? When is the interview usually sent and conducted, and what is typically the latest date one can receive an answer? Also, does anybody get admission to the program without an interview?

Thank you in advance and Best Regards,

Hello and thank you for your interest and questions.
Decisions are tentatively released by April 30 for R2 applications. Interview invites are sent out on a rolling basis throughout the admissions process and every applicant that may receive an offer must go through the interview process. (However, not all that apply receive an interview invite).

 

[Committed_to_UCLAAndersonMFE]

@Committed_to_UCLAAndersonMFE

Dear Alysa,

Thank you for doing this informative and helpful Q&A. I was admitted to the program for Fall 2023 and would like to please ask if there is an admitted students' day at UCLA specifically for MFE students. I received a couple of emails for generic events, but would really like to attend one specific to the program.

Best,
@dorian

Dear Dorion, CONGRATS on your acceptance! That is wonderful news! We do not have a specific admitted students day, however we have a 3 day long orientation session that occurs before the program start. We will also be in touch with you over the summer for various boot camp preparation. If you are local, we are happy to host you for lunch with some current students. Let me know if you are near LA and would like to come for a visit. We're happy to have you! Sincerely, Alysa