Stony Brook | MS Quantitative Finance | Advice

[jarryds]

I have an offer from Stony Brook and NCSU for Quant Finance and Fin Math respectively. Can you guys suggest which University should I join ?

I am accepting the same offer from SBU after deciding between that and Rutgers MQF. NCSU is a similarly strong program, sounds like both are good options. I will lay out my decision for SBU so you can see if your objectives are similar.

SBU is mathematically rigorous and notorious for it. The coursework covers all of the required mathematical and statistical concepts, especially concerning mathematical finance (Brownian motion, stochastic processes, Ito iteration, Black Scholes, etc.). I am looking to be a front office or research quant and require a great background in math/stats. Also, SBU allows students to rise into a Phd program. It is no secret that the industry prefers Phd's, SBU accounts for this. This program allows students to not overcommit to a lengthy degree, instead make the decision with a better understanding of the challenges and implications. I have been told by numerous professionals (in quant finance and tech) to select SBU for this reason.

My opinion on NCSU:
Obviously you will have a better grasp considering you have done more research on the program. I purposely avoided all of the southern/western programs as they do not have close proximity with the area where I want to work (New York). I have talked to GTech and FSU grads from their quant programs and they stated how difficult the distance was for interviews and connections. Due to the recent trend of zoom and virtual meetings, I would double check to make sure this is still the case. The curriculum looks solid (similar to SBU); I do not see any important concepts missing. I will say that this curriculum looks heavily geared towards finance, which is obviously good for quant positions, but could bite you in the ass if you need to get a job outside of finance (data science, data engineering, ML). I could be wrong; I did not look THAT hard at the courses.

At the end of the day, it comes down to what works best for you. Both are solid programs (according to Quantnet (but honestly wtf does that really even mean anything? Why do people blindly trust a ranking system that does not disclose how their information is collected and received? Seems like nobody would hold these institutions accountable for being slightly dishonest about their stats.)) and it seems like neither is the wrong choice. When I made the decision between Rutgers and SBU, I asked myself what I wanted from the program. I decided I wanted to be a mathematician who specialized in quant finance instead of the other way around. This way, my career path options are open past finance (ML, data engineering, tech research).

I hope this helps. I am in a similar position as you, so I would take everything I said with a grain of salt. I found it really useful to talk to recent grads/current students of the program I was considering to see if my career goals aligned with theirs. LinkedIn is a really good platform for this. Almost everyone I reached out to was happy to speak with me.

 

[laughingwalls]

I am accepting the same offer from SBU after deciding between that and Rutgers MQF. NCSU is a similarly strong program, sounds like both are good options. I will lay out my decision for SBU so you can see if your objectives are similar.

SBU is mathematically rigorous and notorious for it. The coursework covers all of the required mathematical and statistical concepts, especially concerning mathematical finance (Brownian motion, stochastic processes, Ito iteration, Black Scholes, etc.). I am looking to be a front office or research quant and require a great background in math/stats. Also, SBU allows students to rise into a Phd program. It is no secret that the industry prefers Phd's, SBU accounts for this. This program allows students to not overcommit to a lengthy degree, instead make the decision with a better understanding of the challenges and implications. I have been told by numerous professionals (in quant finance and tech) to select SBU for this reason.

My opinion on NCSU:
Obviously you will have a better grasp considering you have done more research on the program. I purposely avoided all of the southern/western programs as they do not have close proximity with the area where I want to work (New York). I have talked to GTech and FSU grads from their quant programs and they stated how difficult the distance was for interviews and connections. Due to the recent trend of zoom and virtual meetings, I would double check to make sure this is still the case. The curriculum looks solid (similar to SBU); I do not see any important concepts missing. I will say that this curriculum looks heavily geared towards finance, which is obviously good for quant positions, but could bite you in the ass if you need to get a job outside of finance (data science, data engineering, ML). I could be wrong; I did not look THAT hard at the courses.

At the end of the day, it comes down to what works best for you. Both are solid programs (according to Quantnet (but honestly wtf does that really even mean anything? Why do people blindly trust a ranking system that does not disclose how their information is collected and received? Seems like nobody would hold these institutions accountable for being slightly dishonest about their stats.)) and it seems like neither is the wrong choice. When I made the decision between Rutgers and SBU, I asked myself what I wanted from the program. I decided I wanted to be a mathematician who specialized in quant finance instead of the other way around. This way, my career path options are open past finance (ML, data engineering, tech research).

I hope this helps. I am in a similar position as you, so I would take everything I said with a grain of salt. I found it really useful to talk to recent grads/current students of the program I was considering to see if my career goals aligned with theirs. LinkedIn is a really good platform for this. Almost everyone I reached out to was happy to speak with me.

This is probably the only post I am going to make here. I am in a professional in the quant risk space at a major bank. I have no affiliation with either school, but I would not consider NC State to have a disadvantage over Stony Brook. The reason is that Charlotte, North Carolina is the largest metro market for quantitative risk in traditional banks. Wells Fargo's Risk Operation is there, Bank of America is Head quartered there, Truist Ally and other major commercial banks have operations here.

I've worked with several GA-Tech grads, the reality is that Atlanta is not a good market for Finance. There are only four financial institutions with any risk talent there and two are in the process of leaving.

The quantitative risk space in the retail banking (ie Chase, Capital One, Wells Fargo, Citi, Bank of America, PNC) segment right now is right now really centralized in Charlotte, Dallas, DC, with some stuff in New York.

 

[jarryds]

This is probably the only post I am going to make here. I am in a professional in the quant risk space at a major bank. I have no affiliation with either school, but I would not consider NC State to have a disadvantage over Stony Brook. The reason is that Charlotte, North Carolina is the largest metro market for quantitative risk in traditional banks. Wells Fargo's Risk Operation is there, Bank of America is Head quartered there, Truist Ally and other major commercial banks have operations here.

I've worked with several GA-Tech grads, the reality is that Atlanta is not a good market for Finance. There are only four financial institutions with any risk talent there and two are in the process of leaving.

The quantitative risk space in the retail banking (ie Chase, Capital One, Wells Fargo, Citi, Bank of America, PNC) segment right now is right now really centralized in Charlotte, Dallas, DC, with some stuff in New York.

Thank you for your insight. That is interesting about the development of the Charlotte area. I guess I was speaking that if you wanted to work in NY, the location of NC State may be a concern. Education in NC would definitely serve an advantage for people who want to work in charlotte.

I think the locations you mentioned are pretty interesting. I guess I am not really considering working in the retail banking industry. I am led to believe that most quants/ want to be quants are focused more toward IB and hedge funds. Usually NYC, Boston, Chicago are the hotspots for quants because of the high concentration of jobs in that sector. Of course that is only considering the US, as there are other large locations internationally. It is a fast developing industry, so things are always subject to change. What is your CV that has led you to work in Charlotte?

 

[chisquared]

I have an offer from Stony Brook and NCSU for Quant Finance and Fin Math respectively. Can you guys suggest which University should I join

I would choose NCSU since it is a statistics power (top 5 in the world) house. In fact, I would prefer double major in statistics and FM at NC State. Also, the cost should be close.

 

[Akshay Joshi]

I would choose NCSU since it is a statistics power (top 5 in the world) house. In fact, I would prefer double major in statistics and FM at NC State. Also, the cost should be close.

Thanks for the reply. I will look into the statistics course at NCSU.

 

[Akshay Joshi]

This is probably the only post I am going to make here. I am in a professional in the quant risk space at a major bank. I have no affiliation with either school, but I would not consider NC State to have a disadvantage over Stony Brook. The reason is that Charlotte, North Carolina is the largest metro market for quantitative risk in traditional banks. Wells Fargo's Risk Operation is there, Bank of America is Head quartered there, Truist Ally and other major commercial banks have operations here.

I've worked with several GA-Tech grads, the reality is that Atlanta is not a good market for Finance. There are only four financial institutions with any risk talent there and two are in the process of leaving.

The quantitative risk space in the retail banking (ie Chase, Capital One, Wells Fargo, Citi, Bank of America, PNC) segment right now is right now really centralized in Charlotte, Dallas, DC, with some stuff in New York.

Thankyou for the reply. Since you are a professional and from the same industry, its great to learn from your experiences.

 

[Akshay Joshi]

I am accepting the same offer from SBU after deciding between that and Rutgers MQF. NCSU is a similarly strong program, sounds like both are good options. I will lay out my decision for SBU so you can see if your objectives are similar.

SBU is mathematically rigorous and notorious for it. The coursework covers all of the required mathematical and statistical concepts, especially concerning mathematical finance (Brownian motion, stochastic processes, Ito iteration, Black Scholes, etc.). I am looking to be a front office or research quant and require a great background in math/stats. Also, SBU allows students to rise into a Phd program. It is no secret that the industry prefers Phd's, SBU accounts for this. This program allows students to not overcommit to a lengthy degree, instead make the decision with a better understanding of the challenges and implications. I have been told by numerous professionals (in quant finance and tech) to select SBU for this reason.

My opinion on NCSU:
Obviously you will have a better grasp considering you have done more research on the program. I purposely avoided all of the southern/western programs as they do not have close proximity with the area where I want to work (New York). I have talked to GTech and FSU grads from their quant programs and they stated how difficult the distance was for interviews and connections. Due to the recent trend of zoom and virtual meetings, I would double check to make sure this is still the case. The curriculum looks solid (similar to SBU); I do not see any important concepts missing. I will say that this curriculum looks heavily geared towards finance, which is obviously good for quant positions, but could bite you in the ass if you need to get a job outside of finance (data science, data engineering, ML). I could be wrong; I did not look THAT hard at the courses.

At the end of the day, it comes down to what works best for you. Both are solid programs (according to Quantnet (but honestly wtf does that really even mean anything? Why do people blindly trust a ranking system that does not disclose how their information is collected and received? Seems like nobody would hold these institutions accountable for being slightly dishonest about their stats.)) and it seems like neither is the wrong choice. When I made the decision between Rutgers and SBU, I asked myself what I wanted from the program. I decided I wanted to be a mathematician who specialized in quant finance instead of the other way around. This way, my career path options are open past finance (ML, data engineering, tech research).

I hope this helps. I am in a similar position as you, so I would take everything I said with a grain of salt. I found it really useful to talk to recent grads/current students of the program I was considering to see if my career goals aligned with theirs. LinkedIn is a really good platform for this. Almost everyone I reached out to was happy to speak with me.

Thanks for the reply. I will surely work on your suggestions and speak with more people on linked in. And congrats on your admit.

 

[laughingwalls]

Thank you for your insight. That is interesting about the development of the Charlotte area. I guess I was speaking that if you wanted to work in NY, the location of NC State may be a concern. Education in NC would definitely serve an advantage for people who want to work in charlotte.

I think the locations you mentioned are pretty interesting. I guess I am not really considering working in the retail banking industry. I am led to believe that most quants/ want to be quants are focused more toward IB and hedge funds. Usually NYC, Boston, Chicago are the hotspots for quants because of the high concentration of jobs in that sector. Of course that is only considering the US, as there are other large locations internationally. It is a fast developing industry, so things are always subject to change. What is your CV that has led you to work in Charlotte?

Thank you for your insight. That is interesting about the development of the Charlotte area. I guess I was speaking that if you wanted to work in NY, the location of NC State may be a concern. Education in NC would definitely serve an advantage for people who want to work in charlotte.

I think the locations you mentioned are pretty interesting. I guess I am not really considering working in the retail banking industry. I am led to believe that most quants/ want to be quants are focused more toward IB and hedge funds. Usually NYC, Boston, Chicago are the hotspots for quants because of the high concentration of jobs in that sector. Of course that is only considering the US, as there are other large locations internationally. It is a fast developing industry, so things are always subject to change. What is your CV that has led you to work in Charlotte?

 

[Akshay Joshi]

I was not able to find any placement statistics for Stony Brook Quant Finance to be honest.
Where as NCSU has given me the median salaries and companies where students from Fin Maths were placed. If anyone knows about people working in Finance industry from Quant Finance at Stony Brook, kindly let me know. I would really wish to connect with them.

 

[jarryds]

I was not able to find any placement statistics for Stony Brook Quant Finance to be honest.
Where as NCSU has given me the median salaries and companies where students from Fin Maths were placed. If anyone knows about people working in Finance industry from Quant Finance at Stony Brook, kindly let me know. I would really wish to connect with them.

I spoke the the faculty and they gave me a pretty long list of the companies their alumni works for. I found a decent amount of alumni on LinkedIn. Their course page is not great, so you have to search by education.

 

[ChristineCC]

How is NCSU for quants?