Freshman undergrad needs advice - Please help

[Scot]

Thank you for taking the time to reposnd to my post.

First, I am in my early 40's with a BS in Finance and would like to get an MFE, but I an very shy on undergrad math. So, I have enrolled in my state university (the only school I could find in quite a large radius from my home that will allow a second undergrad degree).

No one in the school's math faculty seems to specialize in finace or be familiar with the MFE. So I am a little on my own to choose appropriate electives.

Udergrad courses I plan to take:

Calculus I, II, II
Linear Algebra I, II
Discrete Structures
Differential Equation
PDE I, II
Probability and Statistics I, II
Linear Statistical Modeling & Regression
Experimental Design
Computing I, II, III
Thesis
Intro to Applied Math
Real Analysis
Topology
Abstract Algebra
Complex Variables
Statistical Programming using SAS
Stochastic Process
Introduction to Financial Mathematics
Numerical Analysis I, II
Introduction to Probability & Statistics
Probability Theory
Time Series Analysis
Macro/Micro economics
Intermediate Macro/Micro economics
Econometrics

Questions:

1. Is there any important course work that I'm missing?
2. Is there anything that I should have two semesters instead of one?
3. Is anything here unnecessary?
4. What about some accounting courses? How far should I go with that?

Since the MFE is such a competitive program, can you please comment on the value of some ideas I had to help myself standout?

5. Could it be hepful to obtain an MS in Accountancy and get a CPA?
6. What about an MS in Economics?
7. an MBA?
8. CFA?
9. foriegn language(s)?
10. Any suggestions?

About the industry. Most of what I know, I learned on the internet and that has left many holes in my understanding.

11. How can I fill those holes?
12. In particular, I would like to learn about different positions and where they generally lead. How/where can I do this?
13. Any commentary on PhD. verses MFE?
14. With an MFE will I hit a glass cieling at some point because I am lacking an PhD.?
15. At my age (43), should I care?
16. Is it common that an MFE eventually becomes a fund manager?
17. How important is research experience for undergrads (REU's) when applying to an MFE?
18. If applying to a PhD. program, how many REU's are needed to be competitive?
19. What else should I know?


Thank you so much for answering some (or all) of my questions!! I'm sure you are all busy and the time you took to help me get a handle on this is greatly appreciated!!!

 

[CGiuliano]

Necessary:
Calculus I, II, III
Linear Algebra
ODE
PDE
Probability Theory
Statistical Theory
Stochastic Process
Computing I, II, III

Advantageous:
Real Analysis
Abstract Algebra
Complex Variables
Statistical Programming using SAS
Introduction to Financial Mathematics
Numerical Analysis
Econometrics

 

[Andy Nguyen]

That is a very long list of courses which I wonder how long it would take for you to finish all. Time is a pressing issue for you so you need to pick and choose what's best.

In the contest of preparing for MFE, these are unnecessary
Experimental Design
Thesis
Topology
Abstract Algebra
Complex Variables
Macro/Micro economics
Intermediate Macro/Micro economics
Econometrics

1. Is there any important course work that I'm missing?
Looks like the list is everything they have there. Even after I remove those crappy courses, it will take you years to finish the remaining ones.
2. Is there anything that I should have two semesters instead of one?
Programming. I wonder what you study in Computing I,II,III
3. Is anything here unnecessary?
See above
4. What about some accounting courses? How far should I go with that?
No farther than the discussion here.
5. Could it be hepful to obtain an MS in Accountancy and get a CPA?
It can be useful as a backup plan if you fail to get into MFE but more of less useless as qualification to get in.
6. What about an MS in Economics?
Hum, why waste time and money.
7. an MBA?
Don't go there.
8. CFA?
Seriously? You mean only the L1.
9. foreign language(s)?
Fun but there are better things to do
10. Any suggestions?
Read Quantnet
11. How can I fill those holes?
Read Quantnet
12. In particular, I would like to learn about different positions and where they generally lead. How/where can I do this?
Read Quantnet. Start here Master reading list for Quants, MFE - QuantNetwork - Financial Engineering Forum
13. Any commentary on PhD. verses MFE?
Read Quantnet. Here, here, or here
14. With an MFE will I hit a glass cieling at some point because I am lacking an PhD?
Depends on the position
15. At my age (43), should I care?
You should. But you need to convince employers that they shouldn't.
16. Is it common that an MFE eventually becomes a fund manager?
It happens.
17. How important is research experience for undergrads (REU's) when applying to an MFE?
Depends on how relevant the research is.
18. If applying to a PhD. program, how many REU's are needed to be competitive?
Better leave this to the PhD programs to answer.
19. What else should I know?
Read Quantnet. Ask specific questions.

 

[Eugene Krel]

Depending on your aptitude for math, you may be able to take the foundational courses (calculus, probability, ode) and pick up what you need from the others once you get into an MFE. You are expected to know some things, but nobody is going to expect you to know everything. Of course, that's not to say that knowing more is bad.

 

[iddqd]

Scot,

Have you tried targetting any specific programs? Your approach so far seems good-- brainstorm and consider all possibilities. I think you will be able to greatly simplify the pile of decisions you have in front of you by looking at specific programs and understanding what they expect of applicants.

Many of the program's websites contain pre-requisites for the program, and a course list which will give you an idea what kind of skills you will want to have when you start the actual MFE courses.