Hey..new.

[rateesquad]

Hey guys,

I am new here. Well, actually I go to Baruch right now. I am undergraduate w/ 3.5 GPA although my math grades are terrible. I wanted to go to quantative field of finance. What should I do to start? I just finished my freshman year, I just need some guidance on what to take. And should I retake my math course, I know I am able to do much better.

Any guidance is appreciated.

 

[Andy Nguyen]

Hello and welcome to Quantnet.
You should get some edge over your peers by reading all the info we have here. That said, your math grades do not sound good and the MFE program is a graduate program.
Here is what i suggest
1) Visit the math dept and inquire about the quantitative track that they have which specifically prepares for the MFE program. They should be able to tell you which math, finance courses to take

For Undergrads interested in a career in quant:

To prepare for these careers, the Mathematics Department is offering a new concentration within the mathematics major, the mathematics of finance. This concentration is the best way for undergraduates to get a head start on their careers in quant, as this major "will prepare you above and beyond what the MS program requires for admission" said Dan Stefanica, director of the MS in applied mathematics for finance. The mathematics of finance concentration has a different set of electives than the other mathematics concentrations. Students should take the following five electives:

MTH 4110 Ordinary Differential Equations
MTH 4120 Introduction to Probability
MTH 4125 Stochastic Process
MTH 4135 Methods of Monte Carlo Simulation
MTH 4500 Introduction to Financial Mathematics

A mathematics minor will allow you to take some of these classes, but the major will fully prepare you for the MS program, and ultimately a career in quant.
Read the original article here

2) Retake whatever courses required for entry in the MFE program.

Prerequisite Courses. Applicants are required to have taken a minimal set of courses in finance, mathematics, and computer science, before being admitted into the MFE program, as follows:

* Knowledge of Finance, as demonstrated by one undergraduate class or work experience
* Calculus (two semesters)
* Probability (one semester)
* Linear Algebra (one semester)
* C++ programming skills at the level of one undergraduate class, or by completing a certificate degree

For a prerequisite to be considered met, the course must have been passed with a grade of B or better.

3) And yeah, prepare for the GRE exam.

I do not know any undergraduate program anywhere that will properly prepare you for a career in quantitative finance. It requires at least a Master or for some position, a PhD.

Any more questions, just follow up here and we should be able to provide any help you need.

 

[rateesquad]

Hey thanks,

So I will retake the courses. That will bump up my GPA even further. Hey, by the way what should I major in if I want to be in Quant. Right now, it is finance/investments, but it is not permanent yet. And what should I minor in, I was thinking Economics and Political Science (economic policy), time and money are not important so I can take as much classes as possible. Can you guys just tell me what classes are going to be essential, and should I take math minor or Double major in finance and math??? Sorry, for being so drastic and annoying but this is what I am really passionate about. Trading and Economic theories that is. I see the quant background as the best alternative for me.

Again thank you very much.

 

[Andy Nguyen]

Hey, by the way what should I major in if I want to be in Quant. Right now, it is finance/investments, but it is not permanent yet. And what should I minor in, I was thinking Economics and Political Science (economic policy), time and money are not important so I can take as much classes as possible.

Anything with a quantitative training will be important if you want to be a quant. Think mathematics, physics, computer science, etc...
Minor is not important. Make sure you do REALLY WELL in your major first. You still have a long way to go to finish your undergrad but it's really good that you already knew what you like to do. Props to you.

Can you guys just tell me what classes are going to be essential, and should I take math minor or Double major in finance and math??? Sorry, for being so drastic and annoying but this is what I am really passionate about. Trading and Economic theories that is. I see the quant background as the best alternative for me.
Again thank you very much.

Take as much math, finance, programming as you can. Investment and Economics maybe not that relevant if you want to be a quant but it wouldn't hurt if you can add to the 3 core components.

Your chance of getting admitted into a Quant program would be much enhanced if you visit this website A LOT.

 

[RussianMike]

Hey thanks,

So I will retake the courses. That will bump up my GPA even further. Hey, by the way what should I major in if I want to be in Quant. Right now, it is finance/investments, but it is not permanent yet. And what should I minor in, I was thinking Economics and Political Science (economic policy), time and money are not important so I can take as much classes as possible. Can you guys just tell me what classes are going to be essential, and should I take math minor or Double major in finance and math??? Sorry, for being so drastic and annoying but this is what I am really passionate about. Trading and Economic theories that is. I see the quant background as the best alternative for me.

Again thank you very much.

Major in math of finance, minor in finance.

Most actual finance knowledge comes from working in the industry.
I have a BBA from Baruch in Finance. I learned most of what I use/used at work. (This is not knocking Baruch in finance so please dont misinterpret, it would have been same everywhere else, you just cannot learn enough about finance until you work in the field)
It looks like you are hedging your bets, political science, econom, etc.
If you're looking for a safe bet go for math(used everywhere)

 

[Christian]

I'm currently an undergraduate at Baruch doing the math major with a concentration in finance. I love it - it's the reason I chose to come to Baruch initially. While people may think you're studying something obscure and useless (as people have said to me), I think in the very near future they will be proven wrong. Feel free to ask me any questions about my experience with the major so far.

 

[rateesquad]

Hey guys thank you a lot. I really want to get ahead. Actually I do trade futures and forex right now. But it is not statistic or probability based. It is not even computer based. Not until I get that Monte Carlo book :D. Although I use the software in the trading floor to backtest. Question: Are there sub-fields in Quant? Like you know Macro, micro, etc.?

Honestly, I think that I will major in both math and finance. I heard it was possible and I will do minor in Eco and POL b/c I enjoy those subjects. I know it will take more time. But, I have all the time in the world.

Hey, by the way what math teachers are good in our math department. I had Gregory both semester, but unfortunatly he is leaving the school.

Another question, how much should I put time in Probablities and statistics. I am asking this b/c I am acquiring books to read after this summer semester is over. Just want to know what are the essential fr the quant. So far, I am getting only into Monte Carlo. And how much attribute should I pay to programming?

Thanks guys, you are really helping me.

 

[Andy Nguyen]

I just put up a master list for quant finance book. Those are really good books.
For a different kind of quants, do a search on "What do quants do ?" thread, you will see a link to Mark Joshi guide. It's great guide.

 

[Christian]

Take STA2000 before you take MAT4120 (Probability). I didn't, and regret it because I feel like I could have been reviewing for 3-4 weeks at first, and then the subsequent material would have been much easier for me.

 

[rateesquad]

Ok, thanks for the book list. Also, thanks for guidance on claasses.
I have another question. Does it matter whether I will finish Zicklin or the other colleges??? This is important b/c If I want to double major I will not be allowed to attend Zicklin. So should I take that chance or not?

By the way, you guys are really helping me out. Thank you.

 

[Andy Nguyen]

My principle of doing a double degree is that you do it because it's possible within reasonable means. I did double major in CS/Math undergrad because they are both offered in the same department. I had to go through some hoops to get approved since there wasn't many people doing that double major but at the end, it worked out fine.

If you have to go to another college just to do a double major, I really doubt it's worth it. After all, double/triple major is just extra courses you take. Focus on the major courses first and within possible means, try to take extra courses. Don't do it just to get double major.

And yeah, I did take 21-24 credits a semester undergrad so I had more than enough credits to qualify for double major. It took me exactly 4 years for undergrad. If it were to take extra 1,2 years, I would never do that.

But since you got all the time in the world, you may consider doing that. Just want to caution you not to take unworthy risks during the process.

Best of luck.

 

[rateesquad]

Hey Andy,

So you didn't finish Zicklin? Were your job application possabilities neglected in any way? Or you actually possessed more oppurtunities due to double major??
Thanks.

 

[Andy Nguyen]

No, I never studied at Zicklin before. I received my BS and MS elsewhere. I came to Baruch for my MFE QuantNetwork - Financial Engineering Forum - View Single Post - Entering class of 2006

 

[rateesquad]

Oh, I see now. Hey by the way what are the qualifications (ROUGHLY) on getting into the MFE program. I should get post college education after the initial four years. ANd then take GRE what should I shoot for? I just need to plan out right now ow it will be done. Plus, more information hasn't hurt anyone yet. Thanks for everything so far.

EDIT: Are you guys deal w/ anything like economic modeling or econometrics. Or is that completly differen field??

PS what GRE/GMAT scores are great/good/good enough to get in

 

[Yuriy]

Econometrics is a part of Quantitative Finance at least I think so.

 

[Andy Nguyen]

PS what GRE/GMAT scores are great/good/good enough to get in

Forget about GMAT. Take the GRE. Aim for 800 Q, 600+ V, 4.5+ W
And there is no guarantee you can get in. It's just a good score in my estimate. Try for 800/800/6 and you may have better chance

 

[dstefan]

800 on Quant GRE is a worthy target. 500 for Verbal GRE would still be good.

 

[rateesquad]

Hey, Thank you all so far.

By the way do I have to get my MS in Mathematics or in quantative finance before applying to the MFE program. I am wondering about this because the roster for this years students is mostly comprised of people with either MS or even a PHD. Just curious that is all.

 

[Andy Nguyen]

No, you don't have to get a MS degree before you start an MFE. It's getting so competitive that applicants with MS/PhD got a better chance. If you are a fresh undergrad, you have to have extremely good grades, test scores, some experience.
While you have your eyes on the Baruch MFE program, you should take a look at other programs in NYC as well.

 

[rateesquad]

Ok. No, actually I just want to know what exactly is expected to get into any MFE. I am looking around as well. I heard that many schools with MFE look at papers and work expierence before accepting the person. Let's assume in 3 years, the time I finish baruch undergraduate program. I will be able to write a paper. Are there any professors that will help me out or am I going to be blind with that approach. And a second queston: What job experience should I acquire?
Thanks again.