On Line Courses on Financial Engineering

[rajagopalp]

Please post your views of pros and cons on online courses avilable in Financial Engineering fields from diffrent universities

 

[Yuriy]

Are there any? It would be interesting to find out what they offer.

 

[rajagopalp]

Are there any? It would be interesting to find out what they offer.

Yes Columbia and Chicago universities are offering online certificate courses on Fin Engg

 

[Andy Nguyen]

Yes Columbia and Chicago universities are offering online certificate courses on Fin Engg

:-k
If you can tell me why you want to do an online version of the degree instead of the traditional one, I will be able to tell you pro/con of the two approaches.
As for the online versions between those schools, it will depend on what you want to do with it. Most people here haven't heard of the online versions and I'm not sure how the firms/recruiters/etc will react when they see someone graduate with an online degree.

Then, there is question of whether the online program is accredited. Most are not. How they are regarded compared to the traditional ones ? Probably not very highly.

 

[GusTsahas]

Columbia University through their video network has a full 30 credit Master of Science Degree in Operations Research specializing in Methods of Finance which is quite impressive for distance learning. The focus is on FE and mathematical finance courses. Also impressive is the cost per three credit course of about $4,000!!!

http://www.cvn.columbia.edu/deg/ieor/mfms.php


The other MS distance learning degree I had read about was from the University of Reading in the UK, MSc in Financial Risk Management..

http://www.reading.ac.uk/Study/courses/taught/mscfinancialriskmanagement.asp

 

[Andy Nguyen]

Also impressive is the cost per three credit course of about $4,000!!!

Milk that cashcow !!! That's more than the tuition for a semester at Baruch.
Columbia has really oversold their name quite a bit. Next thing would be to open branches in China, India and telecast the lectures there while billing the same tuition.
Oh, wait, they may have already done that.

 

[RussianMike]

Didn't Dominic post something about Reading a while back?

 

[rajagopalp]

:-k
If you can tell me why you want to do an online version of the degree instead of the traditional one, I will be able to tell you pro/con of the two approaches.
As for the online versions between those schools, it will depend on what you want to do with it. Most people here haven't heard of the online versions and I'm not sure how the firms/recruiters/etc will react when they see someone graduate with an online degree.

Then, there is question of whether the online program is accredited. Most are not. How they are regarded compared to the traditional ones ? Probably not very highly.

For Working Professionals On line courses will be convient though they are expensive right?
Most of thse courses are acrredited..but they may not be that popular in recruting arena as you mentioned.

 

[Andy Nguyen]

For Working Professionals On line courses will be convient though they are expensive right?
Most of thse courses are acrredited..but they may not be that popular in recruting arena as you mentioned.

The biggest benefits of doing a traditional program are the networking opportunities and the career service that the program provides.
After you get the online degree, then what ? Are you able to tap into the alumni network ? Since you have no face time with anyone in the program, networking is NILL.
I would seriously think twice before I enroll in an online degree. Studying part time in a real MFE program would be much better for working professionals. You should definitely ask to talk to the graduates of those online programs and see how it works for them.

 

[alain]

from my own experience, online classes, video conference classe, remote learning, etc are a disaster!!! but it all depends of the person and the subject I guess. I wouldn't enroll in any sort of hard core math/engineering/quantitative subject if it is offered remotely

 

[GusTsahas]

In addition to the networking advantages pointed out by Andy, some courses are quite hard to complete the work totally on your own even with the bulletin boards provided by the programs. The team approach in solving some of the homeworks certainly helped me pass probability and stochastics.

However, not everyone has the resources we take for granted so I certainly agree that for people that cannot attend a bricks and mortar school due to travel or other commitments should consider online programs ....... BTW, SUNY has some very cost effective programs at the Bachelors and even at the Masters level.... not FE, but better then nothing!!

Online Degrees | Online College Courses | Online Education | Distance Learning | Online Education

 

[Yuriy]

The biggest benefits of doing a traditional program are the networking opportunities and the career service that the program provides.
After you get the online degree, then what ? Are you able to tap into the alumni network ? Since you have no face time with anyone in the program, networking is NILL.

Andy, I have a feeling that none of the certificate programs provides any help with job search (at least, that was the way at CMU), and I am almost certain that there won't be any help from an online certificate program.

 

[Yuriy]

In my opinion, an online version of any program (not just FE) is only good if it is much more beneficial than its regular equivalent. That is, it should either be cheaper or give more hours of instruction per week (or something else).

 

[kimbol]

while it may be more fancy if the cyber can be an interactive media, a two way communication.
the value of a on campus learning is the philosophy passed down from a professor to the pupil. just a download hardly provide feedback and hence a 'loop' in exchange of idea.

 

[gabriel]

I've looked into online courses and am considering them. Columbia's has a lot of appeal to someone like me, who is midcareer. I can take courses both online and in campus and the degree is indistinguishable from the more normal ones. Plus, it's a lot easier to get into than the traditional programs.

Of course, you give up the networking which for me is not a big deal but for others it may be.

 

[rajagopalp]

I've looked into online courses and am considering them. Columbia's has a lot of appeal to someone like me, who is midcareer. I can take courses both online and in campus and the degree is indistinguishable from the more normal ones. Plus, it's a lot easier to get into than the traditional programs.

Of course, you give up the networking which for me is not a big deal but for others it may be.

How is recognization to Columbia On line course in Job market?
Will it use ful to switch Jobs?

 

[gabriel]

The degree you get is the same as the traditional Columbia degree, nothing in it says it is online. So it's as good as any other Columbia degree in terms of getting a job. But if you are not already part of the industry I am not sure I would recommend it since you miss on the very important networking aspects.

 

[Andy Nguyen]

The degree you get is the same as the traditional Columbia degree, nothing in it says it is online. So it's as good as any other Columbia degree in terms of getting a job. But if you are not already part of the industry I am not sure I would recommend it since you miss on the very important networking aspects.

I am not sure if it is the same as other Columbia degrees. Even the two Columbia programs (FE and FinMath) are rated differently. It might be the case that the online degree is unknown to employers and they won't be as happy to hire online graduates. Some time should pass before we know the ranking. Although, it is obvious that Columbia's reputation does play a role.

 

[gabriel]

To be clear, I think online or distance programs make sense only to some people. Someone just starting or trying to change careers probably will be better served in a traditional program.

Having said that I should point out that too much emphasis is placed on these rankings. Even among well-established careers paths, like business or law, the rankings are pretty ridiculous. Yes, Harvard Business School is better than some regional college but does anybody really think there is a measurable difference between every institution? I know plenty of people who go to NYU's part-time MBA program rather than apply to Wharton or HBS because, since they already work in investment banks, there is little net benefit from going to the higher ranked institutions.

With respect to the quant world, I am not a quant but have worked on securitization for years. I just turned down a job offer in CDOs. I have both been interviewed and conducted job interviews many times and I have never discussed the school someone went to or been asked about it. Once you have even a little experience all most employers care about is what you know or have done.

Columbia's online MFE degree is from that University's Engineering Dept. It does not say anywhere in the title that it is online. Unless you tell an employer he would never know. The title is different from the traditional one, though. The online gets you a MS in Oper Research: Methods in Finance, the other is an MS in Financial Engineering and both are from the Dept of Industrial Engineering and Operations Research. Since the online program allows you to take any course you want in campus (if you live or work nearby obviously) the end result is that you can take exactly the same courses as the MSFE program if you want, something you can always mention in an interview, should it ever come up. What's great about this program is that it allows you to take courses online, in campus, or any combination you wish.

 

[dstefan]

To be clear, I think online or distance programs make sense only to some people. Someone just starting or trying to change careers probably will be better served in a traditional program.

Having said that I should point out that too much emphasis is placed on these rankings. Even among well-established careers paths, like business or law, the rankings are pretty ridiculous. Yes, Harvard Business School is better than some regional college but does anybody really think there is a measurable difference between every institution? I know plenty of people who go to NYU's part-time MBA program rather than apply to Wharton or HBS because, since they already work in investment banks, there is little net benefit from going to the higher ranked institutions.

With respect to the quant world, I am not a quant but have worked on securitization for years. I just turned down a job offer in CDOs. I have both been interviewed and conducted job interviews many times and I have never discussed the school someone went to or been asked about it. Once you have even a little experience all most employers care about is what you know or have done.

Columbia's online MFE degree is from that University's Engineering Dept. It does not say anywhere in the title that it is online. Unless you tell an employer he would never know. The title is different from the traditional one, though. The online gets you a MS in Oper Research: Methods in Finance, the other is an MS in Financial Engineering and both are from the Dept of Industrial Engineering and Operations Research. Since the online program allows you to take any course you want in campus (if you live or work nearby obviously) the end result is that you can take exactly the same courses as the MSFE program if you want, something you can always mention in an interview, should it ever come up. What's great about this program is that it allows you to take courses online, in campus, or any combination you wish.

Very pertinent comments - thanks, Gabriel!