COMPARE Columbia University MFE vs Carnegie Mellon University MSCF

[Xiaohuidahui]

CMU MSCF is better.
And yeah, it all depends on how hard you work.

 

[QuantOutcry]

In terms of these programs I don't think you can really go wrong. Honestly, I don't think that there will probably be a huge difference in your education from either. From what I've seen all the programs are pretty similar. Stochastic calc, quant risk management, monte carlo simulation... this will be part of any mfe/comp fin curriculum. I really can't speak too much regarding CMU because I don't know a whole lot about them. I can tell you personally that I would have chosen Columbia if I were in your shoes because the televised classes was a major turn off to me. Both schools have fantastic alumni networks, industry contacts, and employment reports. So in terms of getting a job any difference is probably negligible. I don't know a ton about CMU's curriculum but I liked Columbia's because it offered a fair amount of specialization. Not sure how CMU stacks up in that regard. Also one major factor is that I will be at Columbia next year. I'm a really cool guy, and handsome too. Just something to consider.

Do you know much about the concentrations in Columbia?
What's the difference between computational finance/trading systems vs computation programming?
BTW, I don't like remote teaching either.

 

[Jedison]

The difference is in the courses you take. Computational finance and trading systems is focused more on scientific computing and algo trading whereas the programming track focuses on coding skills, mostly C++ I believe. You can see outlines for each track on the website.

 

[fe app]

btw decided to go with columbia in the end
@Jedison u gonna be there?

 

[Jedison]

I will! Congrats that's awesome. What concentration are you thinking of doing?

 

[fe app]

thanks and to u.
thinking of asset management, which is what id like to do. def gonna take some programming classes to keep up with people coming outta other programs

 

[Jedison]

Ya, programming is a must in a any quantitative field nowadays, finance related or not. I'm interested in computational finance and trading systems however I know algo trading jobs are insanely competitive. I've seen some articles on quant net saying you pretty much have to be Will Hunting to land one. Not sure how true this is.

 

[fe app]

yea ive heard its really tough. im assuming u mean HFT? from what i hear its becoming a thing of the past

 

[Jedison]

No actually, I want to stay away from the high frequency stuff for that reason specifically. While regulations will certainly take a huge toll on HFT, algo trading is here to stay in my opinion.

 

[fe app]

right gotcha just wantted to make sure since people sometimes use them interchangeably. id like to do something more like asset managemet based on quant algorithms but not quite as intense as strt algo. im a math guy at heart but have been in finance for 3 yrs

 

[Jedison]

Ya I know many firms, Blackrock comes to mind, have a lot of positions for people like that. I'm wondering if doing a concentration in something like asset management might be more beneficial in the end.

 

[fe app]

yea thats what ive heard as well...ie blackstone and big AM firms

 

[moretodo]

Blackstone is PE not AM

 

[fe app]

The Blackstone Group L.P. is an American multinational private equity, investment banking, alternative asset management and financial services corporation based in New York City.

 

[Finance Applicant]

Anyone have thoughts on Columbia MAFN vs CMU MSCF? I am admitted MAFN and have an interview invite for CMU. Thanks.

 

[fe app]

Anyone have thoughts on Columbia MAFN vs CMU MSCF? I am admitted MAFN and have an interview invite for CMU. Thanks.

everyone i spoke to said unless going to columbia MFE than def go to cmu.

 

[Finance Applicant]

everyone i spoke to said unless going to columbia MFE than def go to cmu.

That's what I got from the information I gathered too. But I am wondering if the job I get CMU MSCF will really be "that" much better than what I may get in Columbia MAFN. I have plans to go back to graduate school after 1-2 years of work so I think Columbia's name might be better for a non-finance related graduate program? Thanks for your thoughts.

 

[fe app]

That's what I got from the information I gathered too. But I am wondering if the job I get CMU MSCF will really be "that" much better than what I may get in Columbia MAFN. I have plans to go back to graduate school after 1-2 years of work so I think Columbia's name might be better for a non-finance related graduate program? Thanks for your thoughts.

1. Could be but u should probably think about what type of program ur gonna go to now and see if CMU is well known in that field as well

 

[cmumscf]

CMU MSCF is better only if you go to NYC campus.

 

[ygmwy]

@Jedison Contrary to what you think based on what you read on the website, the concentrations mean absolutely nothing. You will forget they even existed after September. Many Columbia MFEs take easy business school courses just to fulfill requirements and get out of here. Basically you make your own concentrations. Those are just guidelines, and I don't like them because they feed the naivete of the incoming class about what the quant job market looks like and what skills you really need. Everyone comes into these MFE programs thinking they're going to be algo traders, portfolio managers, quant researchers, or something fancy like that which has been romanticized by the media and other naive students. I won't say that this is false, but the truth is far more complicated, and definitely false for 90% of MFE students. You will see.

My advice would be to talk to more people in the industry and find out what the market actually looks like. As I did when I started, you probably don't have a clue. You will do far better when you actually know the battlefield you are about to be deployed on.