I am a finance major, should I apply for a MFE program?

[roni]

Hello,
I am currently a finance student and I fell in love with the MFE program . I really love all this quant/trading thing. However, as far as I know, most of the MFE students have a technical/engineering background (what I don't have).
I know that my quantitative background is not as strong and that's why I decided to change my minor from economics to mathematics. These are the classes I'm going to take:
Calculus II
Multivariative Calculus - Calculus III
Mathematical Probability
and Linear Algebra OR a basic programming class, even though I have some knowledge in C. (Which one of these two classes will benefit me most?)

should I change the math classes or maybe add one class ( I wish I could take more but Im graduating in spring 2010).

The thing is that I like finance and I really like the technical part of it (quant/trading), but I'm not sure I have the necessary skills for this program.

So, should I apply for a MFE program ? do I have any chance to get accepted?

My choices are UCB or Columbia. The good thing about Columbia is that its offering a dual degree MFE and MBA ( can this dual degree help me in any way?). Another thing, I was thinking of applying straight after the completion of my undergraduate degree, what do you guys think?

Thanks in advance,
Roni.

 

[atreides]

I think it will serve you well to take some time to look through some of the profiles of folks that get admitted into the schools you are interested in. Some schools have the profiles on their mfe pages while some others have resume books..

 

[roni]

I think it will serve you well to take some time to look through some of the profiles of folks that get admitted into the schools you are interested in. Some schools have the profiles on their mfe pages while some others have resume books..

I will do it but Id like to hear peoples personal opinion.
Thanks,
Roni.

 

[Andy Nguyen]

It does not matter what your major is, as long as you have what is deemed basic requirements and have proved you will be successful, then you can apply to whatever program you like.
The list of courses above is the minimum required by many strong MFE programs. By taking those and get good grades (say all A's), you got a check on a long check list.
Keep in mind that the people you compete against all have many more math courses, participated in International Math Olympiads, Putnam, studied in specialized science tracks from high school or finished at the top of the entrance examinations to elite schools like Ecole Polytech, Peiking University, Tsinghua University, IIT.

So put in this context, taking the minimum of Lin Alg, Probability, and Calculus isn't going to do it. It may pass the bar at some programs but the competition at the more elective programs is cut throat.

There is a difference between meeting the requirements and making a competitive profile. From what you wrote, you are heading to the former path.

 

[roni]

It does not matter what your major is, as long as you have what is deemed basic requirements and have proved you will be successful, then you can apply to whatever program you like.
The list of courses above is the minimum required by many strong MFE programs. By taking those and get good grades (say all A's), you got a check on a long check list.

First off, thank you very much for the detailed answer.
Also, I don't think doing well in these classes going to be my main concern.
I have one more question, though. Should I take the linear algebra class or the basic programming class?

Keep in mind that the people you compete against all have many more math courses, participated in International Math Olympiads, Putnam, studied in specialized science tracks from high school or finished at the top of the entrance examinations to elite schools like Ecole Polytech, Peiking University, Tsinghua University, IIT.

I guess here I'm falling behind . Even though I went to a specialized science track in high school(that's how I got my basic programming skills) I've never pushed it farther to any math Olympiads or something similar.

So put in this context, taking the minimum of Lin Alg, Probability, and Calculus isn't going to do it. It may pass the bar at some programs but the competition at the more elective programs is cut throat.

So,I guess my chances to get accepted to one of the two schools I mentioned are almost zero?
Assuming that the applicants have perfect math skills as you described.

There is a difference between meeting the requirements and making a competitive profile. From what you wrote, you are heading to the former path.

What do you think I should do to increase my chances? I really want it and I will try to do everything I can !

 

[Andy Nguyen]

I don't know your whole profile. I don't know the profiles of people who will apply to Columbia or UCB so I won't comment on the "what is my chance" sort of question. In fact, we have a sticky against those on Quantnet.
The point of my previous post is that you have to take all of the courses you mentioned and MORE. Take ODE, PDE, a few C++ courses, stochastic process, get some experience in finance, get involved in some open source project like Quantlib, develop some models in VBA/Matlab/C++/C#, get the books, go to quant finance conferences, etc.
If it delays your undergrad study for another year, so be it.

 

[roni]

I see, I guess that's what I'm going to do. I'll probably stay till fall 2010 instead of spring 2010 (will be able to take additional 5-7 classes)
Thank you for your help