From Wall Street to UCLA Career Coaching. AMA

Dear All,

I am proud to be a Career Coach for the Master of Financial Engineering program at the UCLA Anderson School of Management.

• I hold a B.A. in Mathematics and a B.A. in Economics.
• I have held various positions on Wall Street for a decade
• My areas of expertise include Credit Derivatives & other Exotic Products, High-Yield Research, and Risk Management. I have worked closely with the Sales & Trading Desk, Quant Research/Modeling Teams, and Investment Banking Division.
• Some of my favorite activities include chess, classical piano, reading, and helping others. That's why I'm here!

AMA, and if I can answer, I will!

 

[Michelle]

Hi Olga,
From your experience, what would you advise people thinking about MFE programs? What they should expect, what skill sets they must have to have a long career?

 

[redoctober]

Are you able to share the distribution of roles/functions that UCLA MFE grads have in their full time employment?

 

[MikeLawrence]

Are you able to share the distribution of roles/functions that UCLA MFE grads have in their full time employment?

Employment Report

UCLA Anderson MFEs are hired by major corporations in the U.S. and abroad at a rate of 95% within 6 months of graduation

www.anderson.ucla.edu

This is readily available information.

 

[rodeo]

UCLA's program says that it has a business school advantage. What exactly can I find at UCLA that isn't present at top programs like UChicago, NYU, Columbia etc..
Could you please elaborate on how the business school comes into the picture in preparing the students for target quant roles.
Thanks!

 

[redoctober]

Employment Report

UCLA Anderson MFEs are hired by major corporations in the U.S. and abroad at a rate of 95% within 6 months of graduation

www.anderson.ucla.edu

This is readily available information.

This is not readily available information.

The link discusses employers, regions, and salaries. All great information, but no mention of functions (research, trading, PM, consulting, risk etc)

 

[Olga Inglis]

Hi Olga,
From your experience, what would you advise people thinking about MFE programs? What they should expect, what skill sets they must have to have a long career?

Hi Michelle! Thank you for reaching out.

MFE emphasizes applying scientific rigor to financial analysis.

Do you see yourself enjoying developing models with a scientific approach to determine the value of financial products?
As the saying goes, some people can be fascinated by studying equations for years, while others crave human interactions.
There are various quantitative finance roles, some are dynamic, others subtle.
Where do you see yourself fitting in?

Some of the essential skills for a long and rewarding career in quant finance: understanding the relationship between value and uncertainty within the project’s framework; being able to explain complexity in clear and simple way.

 

[Olga Inglis]

Employment Report

UCLA Anderson MFEs are hired by major corporations in the U.S. and abroad at a rate of 95% within 6 months of graduation

www.anderson.ucla.edu

This is readily available information.

Thank you, @MikeLawrence !

 

[Olga Inglis]

This is not readily available information.

The link discusses employers, regions, and salaries. All great information, but no mention of functions (research, trading, PM, consulting, risk etc)

Here we go (some of the roles): Complex Securities Valuation, Data Scientist, Derivative Trading, Algorithmic Trading, Google Cloud Data Engineer, Index Research & Design, Model Risk Management, Option/Cross Currency Trading, Portfolio Management, Quant Research, Quant Financial Analysis, Quantitative Strategy, Research Analyst/Data Research, Risk Management and Analytics, Complex Securities Valuation, etc.

 

[Olga Inglis]

UCLA's program says that it has a business school advantage. What exactly can I find at UCLA that isn't present at top programs like UChicago, NYU, Columbia etc..
Could you please elaborate on how the business school comes into the picture in preparing the students for target quant roles.
Thanks!

Hi Rodeo,

Thank you for your question. There are many benefits of being based in a business school. The business school advantage translates into a very hands-on, high-touch, student experience. The career support team works 1-1 with each and every student to provide individualized coaching and provides access to quant finance professionals and career resources through workshops, career treks to NY, coffee chats with alumni, just to name a few. In addition, because we have career-focused staff in Manhattan as well as at UCLA, this gives us a bi-coastal advantage.

Our MFE program and students have access to various Centers (Fink Center for Finance), a robust alumni network(42,000+), an alumni office, networking events, “signature” Anderson events including Velocity and Wooden, to name a few. We have an Alumni Career Coaching program, we have Fink Fellowships, access to Anderson-wide social events, such as AnderNoons, which is a social gathering over food and drinks across all Anderson students almost every week. The UCLA Anderson alumni network and the broader UCLA alumni network are fiercely loyal and the fact that our alums, whether MFE or MBA, are well-placed gives our students some pretty amazing resources.

I also have to highlight our world-renowned faculty who teach in our program. Our faculty teach technical standards and that's reflected in the rigor of the coursework. At UCLA Anderson MFE your professors are going to talk, often from personal/professional experience, about what's going on in the markets and how what's being taught connects with that and/or how it's actually used in real financial firms for making money and managing risk.

We also require a summer internship/experience and our capstone course with an employer. Make sure you check with all programs you are considering on if either/both are required.

I could elaborate on what Anderson MFE has to offer, but I think it would be more impactful if you were to speak with some of our current students and recent alums so you can hear it directly from them. They are the true testament to the strength of our program.

 

[MikeLawrence]

I could elaborate on what Anderson MFE has to offer, but I think it would be more impactful if you were to speak with some of our current students and recent alums so you can hear it directly from them. They are the true testament to the strength of our program.

This is very interesting, how long have admissions ambassadors been around for the UCLA program?

 

[KingEze]

Dear All,

I am proud to be a Career Coach for the Master of Financial Engineering program at the UCLA Anderson School of Management.

• I hold a B.A. in Mathematics and a B.A. in Economics.
• I have held various positions on Wall Street for a decade
• My areas of expertise include Credit Derivatives & other Exotic Products, High-Yield Research, and Risk Management. I have worked closely with the Sales & Trading Desk, Quant Research/Modeling Teams, and Investment Banking Division.
• Some of my favorite activities include chess, classical piano, reading, and helping others. That's why I'm here!

AMA, and if I can answer, I will!

View attachment 51734​

Hi
What would your approach be for someone who wants to transition into quant from a mid level career in banking? I hold an undergraduate degree in maths but haven’t used it much during my years in banking. I’ll like to ease into a role that’s less technical while I upskill myself.

 

[R_N]

UCLA's program says that it has a business school advantage. What exactly can I find at UCLA that isn't present at top programs like UChicago, NYU, Columbia etc..
Could you please elaborate on how the business school comes into the picture in preparing the students for target quant roles.
Thanks!

The job market is currently very very challenging, and I've observed this among my undergraduate friends who are pursuing Quant Finance at institutions like UCLA Anderson, UChicago, NYU, Cornell, and Columbia. They are all facing difficulties in securing employment. In light of this, I believe that fostering connections and working in a collaborative setting may offer a more effective pathway to success. Networking, sharing experiences, and seeking advice on preparation could be very important. Business school might serve as a strategic platform to achieve these, providing not only education but also valuable opportunities to build professional relationships.

 

[joe_boy]

The job market is currently very very challenging, and I've observed this among my undergraduate friends who are pursuing Quant Finance at institutions like UCLA Anderson, UChicago, NYU, Cornell, and Columbia. They are all facing difficulties in securing employment. In light of this, I believe that fostering connections and working in a collaborative setting may offer a more effective pathway to success. Networking, sharing experiences, and seeking advice on preparation could be very important. Business school might serve as a strategic platform to achieve these, providing not only education but also valuable opportunities to build professional relationships.

I think programs that are about 1.5 - 2years in length might be helpful for international students. Think it's really something to consider. I've heard several quant and MBA guys saying the same about the job market in the US this year..Don't know how true it is. Things might also change soon (maybe in 1-2yrs time), based on economic theory...

 

[Olga Inglis]

Hi
What would your approach be for someone who wants to transition into quant from a mid level career in banking? I hold an undergraduate degree in maths but haven’t used it much during my years in banking. I’ll like to ease into a role that’s less technical while I upskill myself.

Hi KingEze,

Thank you for your question.

If it were me, I would not change roles. After all, you are going to be changing roles regardless – changing gears after getting an MFE, entrance to which will require mandatory math, computer science, coding, and other expertise. You've probably already taken linear algebra and multivariable calculus as an undergrad. To apply to the program (of course, each program has specific requirements), it's safe to assume that you would need skills in coding, numerical methods, advanced statistics and probability, machine learning, macroeconomics, etc.

Starting a new role wouldn't make it easier, as most new roles have a steep learning curve in the beginning. Don't try to climb two mountains at once.

I would stick with the role you are doingright now– the one you are comfortable with – while taking the required courses through Coursera (math, ML, econ), Quantnet (offers C++), and others.

In the meantime, I would also devote more time to getting to know professionals from the quant groups, and pay closer attention to their work functions (there are different types of quant roles). Ask questions. The best way to learn and experience somethingis to be a part of it.

I hope you find this useful. This is my opinion, of course, and one should listen to many others before making up their own mind and choosing the path they want to take.

And always remember that the details of a job are minimal compared to the importance of knowing who you are, what you want and can do.

Hope this helps.

 

[Olga Inglis]

I think programs that are about 1.5 - 2years in length might be helpful for international students. Think it's really something to consider. I've heard several quant and MBA guys saying the same about the job market in the US this year..Don't know how true it is. Things might also change soon (maybe in 1-2yrs time), based on economic theory...

When the job market is not at its best, soft skills and relationships play a pivotal role. Companies want to hire creative go-getters who thrive in a collaborative environment, who are positive and enthusiastic. Someone who is a proactive rather than reactive problem-solver is ideal. Demonstrating that you have mastery (knowledge of the subject from A to Z) in a narrow niche project can be a big plus. Depth is valued more than breadth.

 

[rodeo]

Hi Olga, another question I had is that the MFE program at UCLA is 15 months (shorter than few of the rest that are 18/24 months) and also covers a wider range of topics in the 10 week semesters.
Isn't it offering a more broader curriculum rather than a deeper one like you mention is more suited for careers in quant. (A few reviews on QuantNet point to the same)

Would love you thoughts on this. Thanks.

 

[Olga Inglis]

April 26, 2023, became officially a legendary moment in International Association for Quantitative Finance’s (IAQF’s) history. Commencing 1993, IAQF has been holding an annual award reception, honoring Financial Engineer of the Year (FEOY). This year, for the first time, a chic and soft-spoken woman walked up to the podium, with a bright smile on her face which lit up the Yale Club of New York City’s reception hall, and stopped everyone in their tracks.

Hélyette Geman looked fabulous. I noticed her kind and sincere face as soon as the elevator doors had opened: “I have to take a picture with you,” I mumbled. Because I had to. I found Hélyette’s communication style very articulate, confident, and humble.

Helyette Geman broke the gender glass ceiling by her relentless hard work, brilliancy, determination, dedication, and perseverance. She spoke softly and elegantly -- high caliber intelligence meets courage. I lost the count of all the groundbreaking achievements this incredible woman has accomplished in the male-dominated world of Quantitative Finance.
Nevertheless, one thing was clear, and I could see it in the eyes of every female professional in the room -- an incredible combination of pride and genuine happiness. We have all felt a strong sense of belonging. The feeling was priceless.

On April 26, 2023, the role-model was created.
Hélyette is now officially a legend, a personification of confidence, dignity, and wisdom.
She has unquestionably demonstrated that even though Quant Finance is still a male-dominated world, female professionals live here too. And strive. And shine.

The list of Hélyette Geman’s contributions can be found here: https://helyettegeman.com
Impressive doesn’t begin to describe it. It is extraordinary, just like Helyette.

 

[MikeLawrence]

@Olga Inglis, I'm curious, what is UCLA's connection with the fund Universa Investments?

Almost every employee of the fund that I can find on LinkedIn has come from UCLA's mfe, it's weird.
More than that, pretty much EVERY INTERN came from y'all as well.
And many others performed 'industry projects' with the company.

 

[Olga Inglis]

@Olga Inglis, I'm curious, what is UCLA's connection with the fund Universa Investments?

Almost every employee of the fund that I can find on LinkedIn has come from UCLA's mfe, it's weird.
More than that, pretty much EVERY INTERN came from y'all as well.
And many others performed 'industry projects' with the company.

@MikeLawrence Hi Mike, I was not aware of this. Are you sure you are not confusing following the company with being employed by the company? Would you mind providing the source of your information? I just checked LinkedIn and saw a different picture. I will stand corrected if I overlooked something, but I didn't see what you are claiming.