MFE related programs outside US

[QuantNet]

Dear all, there has been a lot of discussion on the MFE programs in US. What about those outside US, for example in UK and Canada? Are there any recognised and good MFE programs outside US?

In particular, any comments on the Master of Mathematical Finance at University of Toronto, Master of Science in Risk and Asset Management at EDHEC Business School?

 

[bobbychopra]

Here is a list of schools that offer MFE programs. I am unsure about their recognition or competency.

QuantFinanceJobs.com - Academic, Research & Courses

 

[Dmytro]

also try this link from Global Derivatives:
Global Derivatives v3.0 - Quantitative Masters Programs - Complete List

they provide some description of the programs, although proper rankings are pretty much non-existent.

 

[israelrt]

There are excellent programs at Oxford University, Cambridge University, the London School of Economics and the London Business school.

They are not cheap and are around 20,000 pounds a year.

 

[Andy Nguyen]

One thing to keep in mind is that most programs have somewhat customized their program to each market they are located in. Programs in NYC wouldn't necessarily have practitioners from London teach students to mark the books in sterling or pounds or the local financial governance in Hongkong. Instead, they would hire Wall Street professionals to bring that working knowledge into classrooms.

While it's true that with an US-based degree from the US, you most likely will work in the US or find jobs in London, Hongkong, Singapore, Tokyo if you desire so, the reverse is not true if you study in London, Hongkong and want to compete for jobs in NYC. There are several reasons for it, the major ones being the immigration rules and geographical disadvantage.

So while you may learn the same kind of basic knowledge everywhere, it's best to study close to where you plan to work afterward. Majority of the time, it makes NYC-based programs very desirable. It's one of the reasons many programs in far flung locations have been and always will try to associate itself with NYC either by opening up a satellite branch in NYC or team up with a local NYC program.

 

[DominiConnor]

I think if you're smart enough to do QF, I rather hope you can cope with $ vs £ symbols all by yourself Actually, nearly all financial textbooks use $, and aside from legal stuff that's outside the scope of most MFEs, there is very little difference between London and smaller financial centres like NY. So much is that the case that some people have claimed that quant work in houses like Goldmans are in the grip of some sort of cabal run by those who were educated in France. This is not of course the case, but there are a lot of French educated quants at GS and other bulge brackets. As someone who reads several CVs per day, I will tell you that there are a lot more non-US educated quants in NY than US quants in London. A big thing is the brand recognition of your study, and that's a complex thing that I can't explain quickly, but the short version is that it drops off very much more quickly than you might think, and isn't all that rational. The immigration issue is confusing, and getting worse. Certainly the Creationist takeover of US borders seems to regard confusion as a goal. Banks simply can't work out who will get in to the country, or be allowed to stay, and the time taken is awful, and of course the system is as corrupt as you'd expect of a country like Nigeria. For a while, it seemed to be as Andy says that this favoured people who had studied in the US, but at we see a lot of CVs from highly qualified candidates who not only can't stay in the Us, but can't get a decision of any kind at all. The obvious correlation is that if your country of origin is not perceived as "Christian" then you will more probably get a bad time. Ironically England has fewer practising Christians than several Moslem countries, which means there is a steady stream of British Sikhs/Blacks etc who've been roughed up by Homeland Security. We get explicitly told more and more that US firms do not want anyone who has to fight the immigration system. Obviously they can't formally say "don't send us Hindus or Africans, but we like Irish and Italians", but that day is coming.

 

[Christian]

The obvious correlation is that if your country of origin is not perceived as "Christian" then you will more probably get a bad time. Ironically England has fewer practising Christians than several Moslem countries, which means there is a steady stream of British Sikhs/Blacks etc who've been roughed up by Homeland Security. We get explicitly told more and more that US firms do not want anyone who has to fight the immigration system. Obviously they can't formally say "don't send us Hindus or Africans, but we like Irish and Italians", but that day is coming.

However, the less than obvious correlation is how a thread about QF academic programs turned into a religion/racism issue. ;-)

 

[Peace]

I plan to work in Singapore after getting my MFE degree. Can anyone share some insights on which US, UK or European university MFE degrees are highly regarded for companies recruiting in Singapore.

One would think that top tier schools at CMU, NYU, Berkeley etc would generally have the brand recognition. What about emerging programs at Baruch, Georgia Tech and Illonois Institute of Technology? Will it be easy for graduates (with no financial experience before MFE) to find a job in Singapore?

And how do the 3 emerging programs mentioned above compare with one another? I heard that Illonois Institute accepts everyone who applies, is that true?

 

[Andy Nguyen]

I plan to work in Singapore after getting my MFE degree. Can anyone share some insights on which US, UK or European university MFE degrees are highly regarded for companies recruiting in Singapore.

You would have to talk to recruiters who specialize in Singapore market.

One would think that top tier schools at CMU, NYU, Berkeley etc would generally have the brand recognition. What about emerging programs at Baruch, Georgia Tech and Illonois Institute of Technology? Will it be easy for graduates (with no financial experience before MFE) to find a job in Singapore?

I wouldn't call GT and IIT emerging. They are ones of the earliest programs. Someone once told me that the IIT started in 1994 or so. Baruch started in 2002.
As for the whole idea of getting a job in Singapore, in general, people invest in US dollars would want to get their returns back in US dollar, not Singapore dollars. Only a few who are either forced or want to return to Singapore, the rest works in US after school.

And how do the 3 emerging programs mentioned above compare with one another? I heard that Illonois Institute accepts everyone who applies, is that true?

I can only say that Baruch is the most difficult to get into. And I heard the same rumor about IIT accepting everyone. I could care less about the rumor but you are an applicant there who should do some research if you want to know if it's true.

The question is that why don't you just study at NUT, NTU or SMU ? They are local and much cheaper.