Claremont Graduate University

[bala v]

Hi, I got an Masters in financial engineering admission offer from Claremont Graduate University. I have to be in the southern california area, which made me apply to Claremont. Can anyone comment on the Claremont MSFE program. One thing is for sure - its predict costly ($60k - total program cost). Is it worth the cost? Can anyone comment on the programs strengths, weakness, placement record etc.. Any reply would be greatly appreciated. Thanks, Bala

 

[Andy Nguyen]

I heard Claremont program mentioned here and there but mostly questions about it. nobody seems to know or share anything about it.

What are your other choices ?

 

[Yuriy]

I checked thier curriculum -- more or less -- standard set of typical courses: Derivatives, Probability, Stochastic Calculus, Stochastic Processes, electives in PDEs, Numerical Analysis, Time Series, Fixed Income. However, I did not see any C++ or programming of any kind, no courses in Risk Management or Structural Finance.

 

[Yuriy]

As Andy said, 60K is a bit expensive. But maybe they will expand in the future.

 

[Joy Pathak]

Anything new about CGU? I just got an offer from them. Any alumni? Is CGU known on Wall street? It seems like a good 2nd tier MFE program.

 

[bigbadwolf]

It seems like a good 2nd tier MFE program.

You must mean that among the 2nd tier programs, it is one of the better ones -- otherwise there is usually nothing "good" about any 2nd tier program.

 

[Joy Pathak]

You must mean that among the 2nd tier programs, it is one of the better ones -- otherwise there is usually nothing "good" about any 2nd tier program.

Yes. So you would recommend against going there? Can you expand on it possibly?

 

[bigbadwolf]

Yes. So you would recommend against going there? Can you expand on it possibly?

I don't know enough to comment competently. I went to their course site and as Yuriy has already pointed out, no hard-core programming courses (that I can see). For 60K and the kind of program they're offering, it seems a bit steep.... Job market is tight and employers will want some solid coding exposure, some solid scientific computing. If it were me -- and based on what I can see -- I'd turn it down.

 

[Joy Pathak]

I don't know enough to comment competently. I went to their course site and as Yuriy has already pointed out, no hard-core programming courses (that I can see). For 60K and the kind of program they're offering, it seems a bit steep.... Job market is tight and employers will want some solid coding exposure, some solid scientific computing. If it were me -- and based on what I can see -- I'd turn it down.

Actually, you haven't seen their courses strongly, or maybe you have and still feel it isn't good enough. They do have a strong computing part. You can choose between programming courses like Data Mining, Scientific Computing and Numerical finance methods. Data Mining and Scientific computing utilise MATLAB coding & programming. Numerical Finance methods utilise MATLAB again for various monte carlo, finite difference, etc simulations. They also have discrete mathematic modeling course.

The curriculum part on their FE website does not give good descriptions of courses. I had to dig deeper to find out more.

My goal is to apply for top 10-20-30 and sum Phd Finance programs after. I got a bachelors in Mech Eng from Canadian uni. I hope to get a MFE and get high GPA and high GMAT scores and get some research experience in the field while going to uni under some prof and then apply for phd in the field. My undergrad GPA is below 3.0 so I need a strong quant intensive masters to off-set my undergrad gpa. I have strong peer reviewed publications in computational research though.

 

[bigbadwolf]

Actually, you haven't seen their courses strongly, or maybe you have and still feel it isn't good enough. They do have a strong computing part. You can choose between programming courses like Data Mining, Scientific Computing and Numerical finance methods. Data Mining and Scientific computing utilise MATLAB coding & programming. Numerical Finance methods utilise MATLAB again for various monte carlo, finite difference, etc simulations. They also have discrete mathematic modeling course.

No, I don't think it's good enough. I would like to see C (either ++ or #) in a major way. MATLAB won't cut it.

 

[Joy Pathak]

No, I don't think it's good enough. I would like to see C (either ++ or #) in a major way. MATLAB won't cut it.

I see your point. Fair enough.

 

[vinay]

Is there any MSFE program which teaches C++ too. I didnt find any.

 

[Joy Pathak]

You can take C++ programming courses while at CGU. Since you're allowed to take courses at any of the consortium colleges nearby, one can register at C++ course at Harvey Mudd College, part of Claremont Consortium. Same can be done at Claremont McKenna.

 

[WilliamRFrost]

Do they not have specific C++ classes they want (like a C++ class with a focus on applying it to finance)? Are just general C++ classes fine?

And I guess I'm taking this a little far off topic but this topic inspired this question, how deep into C++ does one need to go? For instance, how many semesters at a university of C++ would be the appropriate amount?

 

[bigbadwolf]

Do they not have specific C++ classes they want (like a C++ class with a focus on applying it to finance)? Are just general C++ classes fine?

Ideally you want the kind of thing Baruch does: integrating the teaching and application of C++ to numerical analysis and quant finance.

 

[WilliamRFrost]

Okay. I think the undergraduate university I'm at does the same sort of things (knowledge of C++/a semester of C++ is required for a lot of classes for the Financial Mathematics program).

 

[physEcon]

C++ is not explicitly integrated into the classes right now at CGU. The classes feature a lot of Matlab and VBA. There is a student-led course on C++ each year plus students can take classes at HMC as pointed out earlier.

I would also say that C++ is a bit over-rated on these forums. It's very very important, don't get me wrong. But it isn't the only programing language. Some people here will bite my head off for this but it is possible to be a great financial engineer and not use, or possibly even know, C++.

 

[bigbadwolf]

I would also say that C++ is a bit over-rated on these forums. It's very very important, don't get me wrong. But it isn't the only programming language. Some people here will bite my head off for this but it is possible to be a great financial engineer and not use, or possibly even know, C++.

Agreed. But the industry has a lot invested in it.

 

[Joy Pathak]

C++ is definitely a great tool to have in your box. It will make you a lot more marketable.

The great thing about CGU as has been mentioned is the flexibility. You can take courses at any on the colleges in the consortium, and also a range of electives at CGU. I really like the set up. The only ****** part is the tuition.