Advice needed regarding application - fall 2008 or 2009

[iwantmfeadmit]

Hi all,

This is my first post here on quantnet. I am also one of those who want to pursue MS in Financial Engineering. Here is my profile in brief:

I completed my Mechanical Engineering from University of Delhi (Netaji Subhas Institute of Technology) in June 2006. Sincle July 2006 i have been working as a Research Associate in Evalueserve. I have also passed the CFA Level 1 exam held in June 2007.

My GRE score is 1450 (QA - 800, VA - 650).

The relevant skills which i have are:

• Strong C++ programming
• Good Mathematics background having completed engineering level mathematics (Differential Equations, Probability, Statistics, multivariate calculus, etc. Although i got an average of 76% marks in 3 semesters of mathematics courses)
• Took courses such as Financial Management, Optimization Techniques, Industrial Engineering during my engineering

But the thing that can have a negative impact on my profile is my lack of finance work ex.

That is why i would be grateful if somebody can guide me whether i can apply this year for fall 2008 or do i need to gain some finance work ex and apply for fall 2009.

Regards,

 

[dstefan]

try to get a job in the financial industry. in the meahwhile, apply for Fall 2008, see where you are admitted and then make a decision whether to start studying or apply again for Fall 2009.

 

[mfinabhi]

try to get a job in the financial industry. in the meahwhile, apply for Fall 2008, see where you are admitted and then make a decision whether to start studying or apply again for Fall 2009.

Hello sir
You suggested to get into Financial Industry, One question how broad is the spectrum of Financial Industry, Would Insurance be considered as a part of Finance Industry ? I am a business analyst. Since a B.E. does not usually get jobs in Financial industry our chances of getting one is by getting certifications or maybe other courses, I think its a vicious circle..
Regards

 

[iwantmfeadmit]

Hello Mr. Stefan,

Thank you very much for your post.

You recommend me to apply this year and see where i am admitted. This arises a question in my mind that If i apply this year, which universities should i apply to considering my profile.

Secondly, you recommended gaining some experience in financial industry. Which job profile would suit best (which is practically possible to gain considering i have no degree or workex in finance apart from CFA L1) if i have plans to apply for MFE in fall 2009.

Would passing the CFA Level 2 exam in June 2008 help my chances of admission to top MFE programs in fall 2009 (including Baruch MFE, Columbia MSFE, Princeton MSF, Cornell MSFE)


Regards,

 

[Dmytro]

Hello Mr. Stefan,

the name of the director of Baruch MFE program is Dan Stefanica, just fyi

You recommend me to apply this year and see where i am admitted. This arises a question in my mind that If i apply this year, which universities should i apply to considering my profile.

it's hard to give you a sensible advice on which program would be the best fit for your profile - if you look through the 'required background' pages of all of the programs you will find a relatively similar set - strong math, sufficient/strong programming/C++, sufficient/strong finance.

it's not so much the program requirements that you'll be competing against, but more the other applicants that will be applying for the same programs that year. how well or how poorly you stack against them will determine your chances of getting in.

if you have a preference to getting into one of the NYC-area program, here's a link to a helpful webpage:
Quantnet Wiki

also, here's the list of other MFE programs:
Global Derivatives v3.0 - Quantitative Masters Programs - Complete List

hope this helps, best of luck!