Chances for MFE or Masters in Operations Research/Statistics

[ibpkpnu]

Hi,

I would like to work as a quant/strategist. I am considering a MFE or master's in statistics or operations research? Can people evaluate my chances for top programs either this year or next (CMU, Berkeley, Columbia, etc.)?

How feasible would it be to move into a quant/research/trader role with a masters in Stats/OR as opposed to an MFE.

I attend a top 15 United States university with a major in Industrial Engineering and Operations Research and a minor in Computer Science.

Cumulative GPA: 3.45/4.0
OR GPA: 3.6/4.0
CS GPA: 3.95/4.0
not taken the GRE yet

Math/OR Courses:
Multivariable calculus, Linear algebra, ODE (2 classes), PDE, Numerical Analysis (2 classes), Optimization, Probability, Stochastic Processes, Statistics, Applied Linear/Nonlinear Regression, Discrete Math

CS Courses:
Object-Oriented Programming, Data Structures and Algorithms, Systems Programming, Artificial Intelligence, Computer Graphics, Computational Complexity

Programming Languages: MATLAB, C++, C, C#, R, Python

Finance Courses:
Intensive Corporate Finance at the graduate level, Financial Engineering (covers binomial model, stochastic calculus basics, Black-Scholes, the Greeks)

Internship experience in quantitative research at a top hedge fund working on portfolio construction models in MATLAB (mean-variance, momentum-based strategies) and at a bulge bracket investment bank in fixed income research, with a fair amount of quantitative modeling of the yield curve and interest rate derivatives.

 

[Andy Nguyen]

With that relevant internship, why can't you play that into a full-time offer instead of getting another graduate degree?
MFE is a terminal professional degree which means the program is expected to provide some level of dedicated career services in additional to those available university-side. You are not likely to get that from a Ms in OR/Stats depend on the university.
My suggestion is to get an entry level job as close to what you did in your internship and prove your worth there. Graduate school is always there if you later decide to go back to school.

 

[ibpkpnu]

Hey Andy, thanks for your response. I am currently interviewing for entry level positions similar to what I did in my internships; the route of going directly to graduate school is more of a backup if I am unable to secure a satisfactory position. What I am concerned with here is how my chances are for top MFE programs? Can weaknesses in my academic/professional qualifications be identified and improved upon? I have found that true quant/strategist positions are limited for undergraduates, although many quantitatively oriented trading shops do more actively recruit undergrads for trading positions, which I am also considering.

 

[DMD]

I would like to work as a quant/strategist.

I don't believe that an MFE sets you up for a job as a quant, especially without a great undergrad GPA and limited research experience. That said, I don't know if an MS in Stats or OR is any better or worse. If you're serious about becoming a quant, you should really look into a PhD from a top school (MIT, Caltech, Harvard, etc.).

Reach out to the strats department at your former employer (BB bank) and talk to some people there that don't have PhDs and get their perspective.

That said, if you are dead set on an MFE, you are going to be a competitive candidate at most schools. Find a way to differentiate yourself beyond your statistics (GPA and GRE).