COMPARE Columbia University MFE vs MIT Master of Finance

[David C.]

I think I missed the deadlines for this year anyway, so I'm looking to take a few classes as a non-degree student over the next year and apply formally this fall for Fall 2015.

 

[dnomyar]

Never thought i'd really have to make this decision. Man it's hard. Wish I had a clone

 

[AdamSass]

While visiting Columbia last night, I attended the FE practitioners seminar. I met a hedgefund trader who told me he believed Columbia is more relevant to finance than MIT. I took his word for it. He graduated from NYU courant so he was sort of unbiased, maybe...

Another key advantage of Columbia is you can interview at firms all year long. The students there told me that they started to look for jobs right away; as early as september! It's much easier to interview for positions when they are only a few subway stops away, and there is a lot more finance in NYC. Therefore, you can just get a lot more interviews in, and do them all year round.

The biggest selling point: I think that getting a good job after the program is probably more of a numbers game than a dependency on some minor differences between the MIT/Columbia brands or educations. I could very easily be wrong, but I think Columbia will get you more interviews and subsequently more offers. (I attribute this to the age and reputation of the program, alumni network, networking opp at seminars, internship opp in NYC, and stellar placement stats)

Lastly, Columbia is more 'quanty' and Emanual Derman is awesome and really smart. When I met him, he seemed personally invested in the success of his students which is a nice quality as well.

MIT is halfway between MBA and quant degree. Honestly, I don't know enough about finance hiring to know if that's a good thing or a bad thing. My plan is to get a MFE now, I can always get an MBA later (if I find that I need one). MIT is also a young program that's going through changes. I don't doubt that MIT will be an awesome experience and prepare you for a great career in finance, I just think Columbia is a safer track to get into quant-finance.

I will say that if you are looking for a half MBA half quant degree, then MIT, no brainer. Similarly, if you are looking for something more managerial, or are unsure if you want to be a quant, then also pick MIT. If you are interested in something more startupy / entrepreneurial pick MIT. All else, pick Columbia.

Disclaimer: I am just regurgitating information that I was able to amass through various sources. I don't really know what I am talking about. Or maybe I do, I don't know.

 

[moretodo]

Disclaimer: I am just regurgitating information that I was able to amass through various sources. I don't really know what I am talking about. Or maybe I do, I don't know.

This needs to go on my Business Card!

 

[AdamSass]

lower competence/asshole ratio

:p

 

[david paul]

It depends on what you want to do. Do you want to be a banker, or do you want to price exotics?

They're two different programs that will set your career in somewhat different directions. Obviously both are finance related, and both programs have people who know some calculus and linear algebra, but that's where the similarities begin to end.

Given the two choices, it would be tough but I'd pick Columbia. My desire to be a quant and prior view that bankers and consultants have a lower competence/asshole ratio would win out over my desire for a front office research or IBD role. But it would be a very difficult choice and determined more by what I want out of life than what MIT or Columbia has to offer the average admit.

There's no right answer on MIT vs. Columbia without knowing more about you and what you want your career to look like.

I would be giving a different answer on MIT vs. Cornell. Or Columbia vs. Duke MSFM. This is a choice between two very and roughly equally elite schools. It is a high quality decision, but it isn't an easy one.

but i heard that hedge funds and investing bank more likely to hire PHD in science not people in MFE

 

[Bowenvan]

I am a fourth-year civil engineering student from Canada.
I got admitted to the master of finance program at MIT(12-month, kind of sad but life cannot give you everything) and the MSFE program at Columbia University.
I have been to both New York City and Boston. I love Boston way more than New York. I am from Vancouver, and I really appreciate the quietness and the sense of community.
After graduation, I want to work on global development, project management and resource allocation on infrastructure projects. I feel like that the MIT program is a better fit for me.
I can do some programming, but I prefer talking to people. I get talkative sometimes.
But most of my friends recommend the MSFE program from Columbia. According to them, it is a better program(I guess, for quant analyst?) Also, it seems that Columbia has a unparalleled placement record.

 

[volmacro]

After graduation, I want to work on global development, project management and resource allocation on infrastructure projects. I feel like that the MIT program is a better fit for me.

Seems like MIT would be a better fit if you're aiming to do something less quantitatively heavy after graduation. MIT's curriculum is more broad, kind of like a CFA program, and may be better suited to the more varied nature of the work you're interested in. Columbia's is way more focused on quant skills and placing quant positions. I also think MIT's program would have more clubs and courses focused on emerging markets, which would go along with your interest in global development.

 

[Bowenvan]

Seems like MIT would be a better fit if you're aiming to do something less quantitatively heavy after graduation. MIT's curriculum is more broad, kind of like a CFA program, and may be better suited to the more varied nature of the work you're interested in. Columbia's is way more focused on quant skills and placing quant positions. I also think MIT's program would have more clubs and courses focused on emerging markets, which would go along with your interest in global development.

Yes. That's exactly what I am thinking. I am trying to get in touch with MFin students at MIT, and talk to my professors.

 

[Rafael F]

Columbia Financial Engineering or Financial Economics?

 

[Bowenvan]

Columbia Financial Engineering or Financial Economics?

I got admitted into Financial Engineering. If it was Financial Economics, there would be no hesitation for me to go there.

 

[Rafael F]

I got admitted into Financial Engineering. If it was Financial Economics, there would be no hesitation for me to go there.

By "there" you mean Columbia right?

 

[Rafael F]

I am a fourth-year civil engineering student from Canada.
I got admitted to the master of finance program at MIT(12-month, kind of sad but life cannot give you everything) and the MSFE program at Columbia University.
I have been to both New York City and Boston. I love Boston way more than New York. I am from Vancouver, and I really appreciate the quietness and the sense of community.
After graduation, I want to work on global development, project management and resource allocation on infrastructure projects. I feel like that the MIT program is a better fit for me.
I can do some programming, but I prefer talking to people. I get talkative sometimes.
But most of my friends recommend the MSFE program from Columbia. According to them, it is a better program(I guess, for quant analyst?) Also, it seems that Columbia has a unparalleled placement record.

Where did you end up going?

 

[Bowenvan]

I am going to MIT.

 

[codebreaker]

Hard to decide which one is better. I am not necessarily work in quant in future. Could anyone provide some suggestions? Thanks.

 

[Onegin]

There’s been a lot of discussion, you’d be well served to look for posts from @devinconolly who is attending MIT.

MIT is a fantastic program with a solid grounding in corporate finance, which I think is a gap for a lot of other programs. Provided you already have a strong foundation in math / engineering , that could be a nice complement to your skills. Also, training makes IBD or PE potential destinations.

Columbia MFE is pretty well respected - I don’t know a lot about it though.

 

[Riggins]

From what I heard, I think you might have a broader spectrum in terms of finance at MIT but more technical stuff at Columbia.

If you are looking at a technical job I'd go for Columbia, if not necessarily, as Onegin mentioned, MIT is a very interesting option.

But as I told you last time, it also depends what you're looking for during your education and what you want to take from it.

 

[kollav]

Hi all,

Hope all are doing well. As the title suggests I want to compare MIT MFin with Columbia MFE. Some background about me - I have an undergraduate degree in Mathematics and have been working at a leading IB for the past 2 years as an equities strategist. I am not keen on studying in a quant heavy program given my prior background. My long term goal is to become a portfolio manager based on macro strategies (hence my inclination towards MIT), if that doesn't work out then I will be looking for a rates trading job at any of the leading sell side firms.

Cost of the program ( tuition + living expenses ) is not a major constraint for me, also because I am being offered a dean's fellowship at MIT which has brought the cost of both the programs roughly same.

Any info / views / stats that can help me make a decision will be great.

Thanks in advance

 

[prisonMike]

With the end goal of becoming a portfolio manager, MIT seems like a better fit.

 

[peakyblinder]

Given my interest towards investment management