COMPARE UC Berkeley MFE vs U Chicago MSFM

[kitkat]

Hey folks,

Luckily I got offers from the top 2 in my list.

My heart goes to UCB MFE, and below are my thoughts. Would appreciate any thoughts/feedback!

Pros for UCB MFE (in contrast to U Chicago)
- a consistently high ranking, with a much higher placement average $
- inside Haas School of Business

Cons for UCB MFE (in contrast to U Chicago)
- no tuition wavier, plus a bunch of precourse to pay extra ~$5000
- not in Chicago

I can justify the cost part for the choice of UCB MFE because this is a life-time investment... Not being in Chicago is a disadvantage, but perhaps being arguably no,1 on the west coast is a counter?

Online reviews have been pretty positive for both programs, but UCB MFE appears to be better.

Thank you!

 

[OoozeDonatin]

go ucb mfe

congrats

 

[kitkat]

T

go ucb mfe

congrats

The votes appear to say so too!
Thank you sir!

 

[SD_]

Hey folks,

Luckily I got offers from the top 2 in my list.

My heart goes to UCB MFE, and below are my thoughts. Would appreciate any thoughts/feedback!

Pros for UCB MFE (in contrast to U Chicago)
- a consistently high ranking, with a much higher placement average $
- inside Haas School of Business

Cons for UCB MFE (in contrast to U Chicago)
- no tuition wavier, plus a bunch of precourse to pay extra ~$5000
- not in Chicago

I can justify the cost part for the choice of UCB MFE because this is a life-time investment... Not being in Chicago is a disadvantage, but perhaps being arguably no,1 on the west coast is a counter?

Online reviews have been pretty positive for both programs, but UCB MFE appears to be better.

Thank you!

Congratulations @kitkat
Go for UCB MFE. I am biased ofcourse, lol.

As far as I know the Python Pre-program course can be waived if you can demonstrate that your work experience was very coding-heavy.

 

[kitkat]

Congratulations @kitkat
Go for UCB MFE. I am biased ofcourse, lol.

As far as I know the Python Pre-program course can be waived if you can demonstrate that your work experience was very coding-heavy.

Thank you Sudhansh! Yes, I do use Python intensively during my job. I will argue for that at some point. Thanks for the suggestion!

Do you think there is a chance to get a waiver for the math course too? I think I have a good amount of evidence to support that too.

 

[DegenTrader]

Keep me updated about your choice pls, it can also help me. I also got accepted into UChicago with a scholarship and am considering applying to CMU and UCB.

 

[SD_]

Thank you Sudhansh! Yes, I do use Python intensively during my job. I will argue for that at some point. Thanks for the suggestion!

Do you think there is a chance to get a waiver for the math course too? I think I have a good amount of evidence to support that too.

I would not recommend waiving Math and stats.

Moreover, UCB doesn’t allow waiving them, as I think, no one got a waiver for them this year.

 

[bubbleHead]

I would not recommend waiving Math and stats.

Moreover, UCB doesn’t allow waiving them, as I think, no one got a waiver for them this year.

I agree with this. I am not going to comment much about the university choices, and even though I come from a Mathematics and statistics undergrad background, I can say both the pre-program courses were excellent and one can learn a lot from them within a short span of time.

 

[kitkat]

Keep me updated about your choice pls, it can also help me. I also got accepted into UChicago with a scholarship and am considering applying to CMU and UCB.

Hey Degen, I have pretty much made up my mind to go to UCB. Already accepted their offer.

 

[traderwannabe]

Curious to learn a bit more about why so many people vote for UCB vs UChicago.
The Chicago program timeline appears to be better suited for FT placement in companies (and I also assume that the Chicago location is better than Berkeley).
However, i find it weird that there aren't a lot of UChicago reviews out there (would refrain from contacting UChicago office to get a review from alumni as they are obviously biased).
Looking at LinkedIn, I see many of the students from UCB that graduated just now still looking for FT placement, this is a big concern for me...

 

[kitkat]

Compare two programs, first one is the Master of Financial Engineering at U California Berkeley, the second one is the financial mathematics at U Chicago. Focus on the opportunity to become a quantitative researcher/trader.


Answer by ChatGPT 4:

Both the Master of Financial Engineering (MFE) at UC Berkeley and the Financial Mathematics (FM) program at the University of Chicago are highly regarded programs that can pave the way to a successful career as a quantitative researcher or trader. Here's a comparison of the two programs, focusing on their potential to help you become a quantitative researcher/trader:

1. Program structure and curriculum:

• UC Berkeley MFE: The MFE program at Berkeley is a one-year full-time program designed for individuals seeking careers in finance, risk management, and quantitative trading. The curriculum covers a variety of topics, including quantitative finance, asset management, risk management, financial technology, and programming. Students also have the opportunity to apply their knowledge in real-world situations through a 10 to 12-week internship.
• U Chicago FM: The FM program at the University of Chicago is a two-year full-time program with a strong emphasis on mathematics and its application in finance. The curriculum is interdisciplinary, combining courses from mathematics, statistics, economics, and finance. Students can choose elective courses to tailor the program to their interests, such as quantitative trading, financial engineering, and risk management.

1. Faculty and research:

• UC Berkeley MFE: The faculty at Berkeley's MFE program have a mix of academic and industry experience, which can be beneficial for students looking to learn from professionals with practical experience in quantitative finance. The program also has connections with leading financial institutions and research centers, providing opportunities for students to engage in cutting-edge research.
• U Chicago FM: The University of Chicago is well-known for its strong emphasis on research, and the FM program is no exception. The faculty includes leading researchers in financial mathematics, statistics, and economics. Students have the opportunity to work closely with faculty members on research projects, which can help build their skills as quantitative researchers.

1. Networking and career support:

• UC Berkeley MFE: The MFE program at Berkeley offers strong career support, including personalized career coaching, access to an extensive alumni network, and resources to help students connect with industry professionals. The program's location in the San Francisco Bay Area also provides proximity to major financial institutions and technology companies, offering students ample opportunities to network and explore job prospects.
• U Chicago FM: The FM program at the University of Chicago also has a strong career services component, including career counseling, job search workshops, and networking events. The program's location in Chicago, a major financial hub, provides students with access to a variety of job opportunities in the financial industry.

In conclusion, both programs offer a solid foundation for a career as a quantitative researcher or trader. The choice between the two depends on your preference for program length, curriculum focus, and location. UC Berkeley's MFE program may be more suitable for individuals who prefer a shorter program with a stronger focus on practical applications, while the University of Chicago's FM program might be a better fit for those who are interested in a more research-oriented program with a deeper emphasis on mathematics.

 

[kitkat]

What are the main differences between these two programs?

Answer by ChatGPT 4:

Here are the main differences between the Master of Financial Engineering (MFE) at UC Berkeley and the Financial Mathematics (FM) program at the University of Chicago:

1. Program Duration:

• UC Berkeley MFE: The MFE program at Berkeley is a one-year full-time program.
• U Chicago FM: The FM program at the University of Chicago is a two-year full-time program.

1. Curriculum Focus:

• UC Berkeley MFE: The curriculum at Berkeley's MFE program is more focused on practical applications of financial engineering, with an emphasis on quantitative finance, asset management, risk management, and financial technology. Programming skills are also emphasized in the program.
• U Chicago FM: The FM program at the University of Chicago has a stronger emphasis on mathematics and its applications in finance, with an interdisciplinary curriculum combining courses from mathematics, statistics, economics, and finance.

1. Location:

• UC Berkeley MFE: The program is located in Berkeley, California, which is part of the San Francisco Bay Area. This offers proximity to major financial institutions and technology companies.
• U Chicago FM: The program is located in Chicago, Illinois, which is a major financial hub and provides access to various job opportunities in the financial industry.

1. Research Focus:

• UC Berkeley MFE: The faculty at Berkeley's MFE program have a mix of academic and industry experience, and the program has connections with leading financial institutions and research centers.
• U Chicago FM: The University of Chicago is known for its strong emphasis on research, and the FM program has faculty members who are leading researchers in financial mathematics, statistics, and economics.

Overall, the main differences between the two programs lie in their duration, curriculum focus, location, and research emphasis. UC Berkeley's MFE program is shorter and more practically oriented, while the University of Chicago's FM program is longer and has a deeper emphasis on mathematics and research.

 

[kitkat]

So, from the 2nd answer -

Overall, the main differences between the two programs lie in their duration, curriculum focus, location, and research emphasis. UC Berkeley's MFE program is shorter and more practically oriented, while the University of Chicago's FM program is longer and has a deeper emphasis on mathematics and research.

I choose to trust the combined wisdom from QuantNet community and super AI.