Other paths for Non-stem undergrad for MFE

[itsnotbubs]

Hi everyone
a bit of background:
I am non stem major (finance) with good standing (3.87 GPA) but I dont formally meet all the academic prerequisites for most MFE programs ie (multivariable calc, LA) but I have self studied the topics and many others over the past year (I am aware that saying that won't doing anything for my application but I just wanted to state that I have the mathematical maturity for all these programs). I have a few Edx certificates for OOP and also a GitHub with quite a bit of projects. I also have certificate from MITx's mathematical methods for quantitative finance which was a proctored certificate. I really enjoy math but I think it would be overkill to go back to college for another bachelors in math despite how much I self studied thus far (I have completed 1st year analysis on my own thanks to mit's ocw analysis lectures) so my objective is to break into stem through MFE. I graduate this upcoming semester and I am currently applying to MFE programs but not the top ones like NYU,CMU, etc. I am applying to places like UW-CFRM, UC-MF, ETH Zurich-MSQF, maybe York.

I guess my plan is to go for programs that aren't that mainstream but still retain mathematical rigor and a good curriculum. Most programs seem to not provide a "take these prerequisite courses in the summer and your good to join the program' type of structure so there is a real chance I don't get into any MFE programs due to my unorthodox background. So I was wondering if there are good alternatives like Applied Economics masters programs that are more math than business centric so that I can kinda weave my way into quant like roles from ms econ courses. Or any other suggestion would be great. I don't see myself going down the route of traditional IB, financial analyst track and would like to delve deeper into math and its application to finance.

 

[MichaelLewis]

Hi everyone
a bit of background:
I am non stem major (finance) with good standing (3.87 GPA) but I dont formally meet all the academic prerequisites for most MFE programs ie (multivariable calc, LA) but I have self studied the topics and many others over the past year (I am aware that saying that won't doing anything for my application but I just wanted to state that I have the mathematical maturity for all these programs). I have a few Edx certificates for OOP and also a GitHub with quite a bit of projects. I also have certificate from MITx's mathematical methods for quantitative finance which was a proctored certificate. I really enjoy math but I think it would be overkill to go back to college for another bachelors in math despite how much I self studied thus far (I have completed 1st year analysis on my own thanks to mit's ocw analysis lectures) so my objective is to break into stem through MFE. I graduate this upcoming semester and I am currently applying to MFE programs but not the top ones like NYU,CMU, etc. I am applying to places like UW-CFRM, UC-MF, ETH Zurich-MSQF, maybe York.

I guess my plan is to go for programs that aren't that mainstream but still retain mathematical rigor and a good curriculum. Most programs seem to not provide a "take these prerequisite courses in the summer and your good to join the program' type of structure so there is a real chance I don't get into any MFE programs due to my unorthodox background. So I was wondering if there are good alternatives like Applied Economics masters programs that are more math than business centric so that I can kinda weave my way into quant like roles from ms econ courses. Or any other suggestion would be great. I don't see myself going down the route of traditional IB, financial analyst track and would like to delve deeper into math and its application to finance.

What about spending an extra year getting a minor in math?

Your first job out of college will have an enormous impact on how much money you will make for your entire career. So going to a top MFE program will, over 40 years, result in millions of dollars more relative to some no name program.

Imagine going to a top 5 program and coming out with a job at something like a Citadel, Millennium, etc. versus some place no one has heard of. There’s obvious and large financial differences.

So spend one year to increase your probability or spend the next 40 years at some lower tier companies making much less money.

Just a thought.

 

[itsnotbubs]

What about spending an extra year getting a minor in math?

Your first job out of college will have an enormous impact on how much money you will make for your entire career. So going to a top MFE program will, over 40 years, result in millions of dollars more relative to some no name program.

Imagine going to a top 5 program and coming out with a job at something like a Citadel, Millennium, etc. versus some place no one has heard of. There’s obvious and large financial differences.

So spend one year to increase your probability or spend the next 40 years at some lower tier companies making much less money.

Just a thought.

Thank you for the insight. I'll admit if I dont get accepted into any of the few programs I mentioned I'll likely go down the minor/bachelors route in math (but from my perspective, overkill cause formally taking LA or calc 3 would provide no added value to my education except for formal documentation). I think the top programs definitely would put me in a good position to get into those firms (even then not everyone in Baruch goes straight to buy side) but there seems to be several non top 5 program paths to reach that. I think going to what you consider a 'no name' program (3/5 of the ones I will be applying to are ranked on this site, not top 5 tho) and getting job experience in a quant role at a no name firm is better than the route you mentioned since it seems like the consensus that experience > education for quant firms. I am not applying to the cash cow programs like UCLA MFE or business school MFE for that matter and i'm due diligent of what the program im applying for provides in terms of course work/price/placement etc.

 

[MichaelLewis]

Thank you for the insight. I'll admit if I dont get accepted into any of the few programs I mentioned I'll likely go down the minor/bachelors route in math (but from my perspective, overkill cause formally taking LA or calc 3 would provide no added value to my education except for formal documentation). I think the top programs definitely would put me in a good position to get into those firms (even then not everyone in Baruch goes straight to buy side) but there seems to be several non top 5 program paths to reach that. I think going to what you consider a 'no name' program (3/5 of the ones I will be applying to are ranked on this site, not top 5 tho) and getting job experience in a quant role at a no name firm is better than the route you mentioned since it seems like the consensus that experience > education for quant firms. I am not applying to the cash cow programs like UCLA MFE or business school MFE for that matter and i'm due diligent of what the program im applying for provides in terms of course work/price/placement etc.

Experience at a no name firm is far less useful than graduating from a top MFE program.

You will struggle immensely going from a no name firm to a top tier firm.

Social proof weighs heavy. And the name of the school you went to and company you work for are the business worlds social proof.

 

[Andy Nguyen]

Take your time to identify and plan for a program. You can only do an MFE once. Rushing into one just because is a recipe for disasters.