COMPARE CMU MSCF (15k) vs Berkeley MFE (Part-Time)

[kktallam]

Hey everyone!

I hope that you are starting to receive the decision emails that you have been waiting for. I know it can be super stressful but remember that there is always a path forward. In terms of my own decisions, there are two completely different paths my graduate journey could take, and I am having a very hard time deciding what might be best. Hopefully my struggle might help some of you decide as well.

I've been fortunate enough to receive admission offers for the CMU MSCF program with a 15k scholarship (Which would be 1.5 years Full-Time) and UC Berkeley's MFE program (Which would be 2 Years Part-Time). From what I have been reading online, both are top institutions, but I was wondering which program would give me the best ROI and would be better for my career?

Some background on me, I am in the final year of my undergraduate degree (non-target school) with a triple major in Math, Statistics, and Applied Science Engineering and I have completed two internships in portfolio management. I also completed the level 1 CFA Exam. My goal is to ideally get a job in Quantitative Portfolio Management at a HF or AM firm. If that doesn't work out, then I would also like to explore prop-trading or HFT.

I received and accepted a full-time offer from the Fortune 500 insurance company to work in their CIO which would only be in-person 2 times a week. But they gave me the option to convert it into an internship if I wish to pursue my masters. So, I see two paths:
1) Convert my full-time job to an internship and go to CMU MSCF full time in New York (Commutable from my current place).
2) Work full-time and go to Berkeley online part-time for 2 years.

Here's where I'm torn: On one hand, CMU's MSCF program offers a full-time immersive experience, allowing me to focus entirely on my studies and delve deep into the material without the distractions of a full-time job. I really like CMU's focus on Machine Learning and the computational aspect of thing. Also, I will be able to network with more industry professionals in NYC. On the other hand, Berkeley's MFE program offers the flexibility of part-time study, allowing me to continue working full-time while pursuing my degree (And I will be making the money to pay off the degree as I work). I will also gain experience and promotions as I complete my degree. However, I just feel like I won't be able to utilize Berkeley's resources to their full potential.


If you have insights into either program that might help my decision, I would greatly appreciate any advice or perspectives you can offer. Which program in general do you think I should go with? Any input would be super helpful!

Thank you in advance for your help!

 

[Grumpybear]

Damn son

 

[WSBquant]

Wow amazing @kktallam! when did you apply and when did you get the results for UCB?

 

[kktallam]

Wow amazing @kktallam! when did you apply and when did you get the results for UCB?

I applied on the Round 1 deadline on Jan 18 and just heard back a day ago.

 

[ajjjw]

I would hesitate to do an MFE online. If the F500 company was in the bay and you could do Berkeley part time in person it may make more sense. I voted for CMU given the facts you've presented.

 

[WSBquant]

Thanks @kktallam. Just saw the online on UCB. Does this mean the entire 2 years at UCB will be online? Or just online lectures.

 

[WSBquant]

anw Voted for CMU as I know many who from that school in big MMs/HF ( citasec )

 

[MikeLawrence]

On one hand, I think the online MFE could a better option if you were later in your career and in a more relevant job but wanting a promotion or more job security. Working for an MFE part time in a non-quant role makes less sense unless you really needed the money to make it through the program.

I will also gain experience and promotions as I complete my degree. However, I just feel like I won't be able to utilize Berkeley's resources to their full potential.

I don't think you're going to get multiple promotions in the first two years of your job, straight out of undergrad. Even if you got close, is IT at an insurance company what you want to end up doing? I don't know the particulars of the role, but I think devoting yourself to full-time study is a better option.

Plus, more experienced users (read: have graduated, and from top programs) say that you really can't do an MFE and a full-time job at the same time if you want to do it right. One or the other would have to give a little, but maybe the nature of your role and the ability to work from home most days counteracts this.