College sophomore very interested in being a quant! I have a lot of questions.

[Matachines]

Hi.

I am very interested in attending a Quantitative Finance program after undergraduate, but I am not sure how to best prepare for applications. I currently attend Fordham University in NYC, which is ranked #18 on this site, so hopefully that is good. I am a Computer Science major.

When it comes to more specialized stuff like this, what matters? Research? Internships at banks? Skills? I can do research for sure with one of my preferred professors, but it will use Python and have nothing to do with finance. How much does GPA/GRE matter? I have a mediocre (3.4) GPA because I had some trouble my freshman year, but I've been getting almost all As since then so it's going up fast. One of my classes from freshman year may get annulled, so that would help.

I am the kind of person that loves learning stuff by myself. I am currently taking online courses on data analysis as well as learning C/C++ programming (not for college credit, just interest). Both those things are important parts of a Quants as many of you know. I'd say my C skills are above average now, and after a few weeks I'll start on C++. My school uses C++ in their classes a lot, so that helps. I also have some C++ for Finance books I will eventually go through. I truly enjoy programming and Computer Science. I am also taking an Intro to Finance online class soon. These are all through coursera.com, which sometimes lets you get certificates.

However, how do I prove to colleges that I have great programming skills (assuming I will). I put most of my code from books, classes, and projects online to the public to see, but I don't know if they will care.

I am applying to the Fordham program for sure, since I already go here and I am in the Honors undergrad program, but Carnegie Mellon, MIT, NYU Poly, and Columbia seem pretty awesome, so I want to try my best.

Also, how much Financial Aid do these programs give? I can't really afford much; I am at Fordham because I am on a full scholarship.

Sorry if I am rambling, I am just full of questions! Thanks for any help.

 

[Jedison]

Hey Matachines,

I'm a Fordham grad, actually heading to campus in a few minutes! I'm no expert but I will give you my two cents. Fordham is a good school, you will get a decent education and they're generous with scholarships. In terms of applying to top programs, however, you need to realize that you will be up against kids from Ivy's and prestigious Uni's abroad. So in that regard you are already at a disadvantage. But don't despair! It can be done, I'm joining Columbia's MFE so Fordham can certainly get you places. In fact Columbia Engineering has a decent relationship with Fordham due to the 3-2 joint engineering program.

In terms of standing out programming is certainly good, but Fordham's Comp Sci department was mediocre from what my Comp Sci friends told me. Research is good, it shows you're smart motivated, and can handle responsibility. I would probably opt for a finance internship over a summer REU unless you are very confident in obtaining a publication. It's great that you like to learn for yourself and I would encourage you to never stop learning. The problem is that to an admissions committee that sort of independent study is less impressive than someone with real coursework in those areas. GPA is important particularly if you're below a 3.5. I would measure yourself more by your major/math GPA but once again remember that you're up against people who have high GPA's. For the GRE I would aim for 167+ Q which really isn't that difficult if you put a few weeks into it.

While I really loved my time at Fordham and stand by the education I received there I'm inclined to advise you against joining their Quant Finance program. I just don't think it's worth it unless you're going for free. Even from programs like CMU good quant jobs don't come easy. Fordham just isn't going to land you those positions and at the end of the day that's all that matters. This is a professional degree, you get an MFE because you want a quant job. I know that money is a big factor for you but if I were in your shoes I would choose students loans over a mediocre degree. Otherwise you might be wasting years of your life, and thousands of dollars for a piece a paper that won't open any doors for you.

This is all just my opinion! Hope it isn't too bleak or discouraging because I certainly didn't mean it to be. Let me know if you have any more questions and feel free to pm me if so.

Best,
Jake