I think there are a few reasons I would pick MIT MFin over Columbia MAFM. One of the main reasons is that MFE is clearly the number 1 program for quant at the university. In addition, when looking at their webpage, it's kind of hard to find where each class is going in terms of job placement. The webpage only shows "career landings," which is how many alumni work at their list of companies. Although this is pretty interesting data, it would be helpful for applicants to know exactly where people are placing into because I'm pretty sure they include both full-time and part-time students in their data (which is slightly misleading). In addition, the average salary + sign-on bonus comparison is tricky. In the latest employment report released by MIT (which has a 100% reporting rate), the average salary + sign-on is $111k, which makes the difference less significant. In addition, not all students are really aiming for the highest paying quant jobs. Some are going into private equity, IBD, advisory, healthcare, and etc. But I would suggest you do your own research and make a decision based on your list of priorities. I'm sure you can succeed at both programs.
