COMPARE MSOR (Minor FE) in Cornell vs Columbia MSOR

[smartgurl]

Hi..
Cornell has MS in Operations Research with FE minor if i am not mistaken.. Since i want to do MSFE program i had doubts concerning with wht exactly would the course content be.. MSOR in Columbia also provides electives from FE field.. but how much tht helps is wht i want to knw. i was redirected to MSOR in Columbia.. I m yet awaiting my results.. I got a reject from Cornell and the website doesnot reveal details on the curriculum and electives tht can be choosed from... Given that i get an admit from Columbia MSOR and i take FE electives , my concern is tht it will only cover around say 50-60% of FE portion... Should i wait for other admits from other universities or take this opportunity.. If anyone who has an admit from cornell or columbia and is definately going then please shed some light on how MSOR (minor in FE) would be different from core FE.. coz in that case MSOR (FE minor) is there in Columbia too..
This is important in terms of placements stats also.. as Columbia lays more stress on the core FE program for placements..i read this on a couple of forums..

PS:And if any one has any idea on wht topics can be studied in cornell then plz forward me the link too..it will help me decide my options..

thankyou..

 

[subhrain]

To be honest, I would put Rutger's MSMF over Columbia's MSOR as the msor is not a complete program if you want to get into mfe

 

[Joe Yu]

I got into both Rutgers and Columbia MSOR. Based on Columbia name alone, you will get plenty of interviews with top firms and that is where I'm going. Not sure how many BB recruit from Rutgers, if at all. My undergrad is top 15 in the US and barely any BB recruit from here. Imagine Rutgers, which is not even in the top 50...

 

[subhrain]

I got into both Rutgers and Columbia MSOR. Based on Columbia name alone, you will get plenty of interviews with top firms and that is where I'm going. Not sure how many BB recruit from Rutgers, if at all. My undergrad is top 15 in the US and barely any BB recruit from here. Imagine Rutgers, which is not even in the top 50...

Well, the issue is with the program of MSOR. Think with no actual rigorous mfe stuff, you wont pass a single interview (I do not know your background).

Rutgers has an intense program, but MSOR is like more business that the actual mfe stuff.

 

[Andy Nguyen]

Based on Columbia name alone, you will get plenty of interviews with top firms and that is where I'm going
I would not characterize this as fact, but rather what you hope to be true. Remember you are not the only one with a Columbia name on your CV.
You are banking on the brand name along and it only can get you so far. Shouldn't the MSOR program try to convince you that they will be able to help you achieve your goal?

I'm trying to knock some sense into your and everyone's perception. The only real thing is the money you are about to part with.

 

[subhrain]

Completely agree!!! I think a program should give you the skills you would need. It might be difficult to get an interview initially, but in the end when you get an interview, you will succeed.

 

[Joe Yu]

so these are the classes I am planning to take at Columbia, assuming I can place out of Prob/Stats:

Fall (5 courses)
Stochastic Models (MSOR core class) ---> MSFE take Stochastic Models in FE
Deterministic Models (MSOR core class) ---> MSFE dont have to take
Simulations (MSOR core class) ---> MSFE take Monte-Carlo Simulations
Intro to FE (MSOR elective, open to anyone)



Spring (5 courses)
- Security Pricing Models (MSOR/MSFE elective, open to anyone)
- Asset Allocation (MSOR/MSFE elective, open to anyone)
- Quantitative Risk Management (MSOR/MSFE elective, open to anyone)

and 2 of the following MSFE electives in which MSOR students can take with permission:
- Introduction to the Implied Volatility Smile (taught by Derman)
- Credit Risk and Derivative
- Term Structure Models

Fall (2 courses)
- Data Analysis (MSFE core class, MSOR students can take with permission)
- either Optimization in FE or Continuous Time (both are MSFE core classes, MSOR students can take with permission)


So basically, the only core MSFE class I MIGHT miss out on is either Optimization in FE or Continuous Time because MSOR only requires 30 credits whereas MSFE requires 36 credits. However, I CAN choose not to miss out on anything and take both of these classes and pay a bit more tuition for overloading at about 3k. All in all, I believe I will graduate with the same knowledge and skill sets as MSFE students.

 

[subhrain]

CONSIDERING YOU GET PERMISSION!!! Thats the catch!

 

[Joe Yu]

CONSIDERING YOU GET PERMISSION!!! Thats the catch!

I'm meeting with IEOR department tmr to see if it's hard to register for these MSFE electives. From the emails I get from MSOR students, it seems like all I need to get is just signature from profs. Even if I cant take MSFE electives (which I'm pretty sure I can), I can still take classes in econ, math, comp sci departments as well as business school. These are all top-ranked departments I believe.

 

[smartgurl]

@subhrain .. u really think that Rutgers has a better program than MSOR (FE minor) in Columbia .. I agree with Joe Yu here .. Doesnot the location and brand have any effect?? .. U can increase your chances by having a good GPA ..
And apart from tht i was trying to compare Cornell with MSOR (FE minor) with Columbia's MSOR(FE minor) .. My concern here being if Cornell has a similar program thn Columbia is a good deal barring the class size ..
Agreed MSFE Columbia has a better say for BB/IBs.. but MSOR do get opportunities .. or they donot..??
I feel the program is good if electives are taken with proper consideration ..

 

[subhrain]

@subhrain .. u really think that Rutgers has a better program than MSOR (FE minor) in Columbia .. I agree with Joe Yu here .. Doesnot the location and brand have any effect?? .. U can increase your chances by having a good GPA ..
And apart from tht i was trying to compare Cornell with MSOR (FE minor) with Columbia's MSOR(FE minor) .. My concern here being if Cornell has a similar program thn Columbia is a good deal barring the class size ..
Agreed MSFE Columbia has a better say for BB/IBs.. but MSOR do get opportunities .. or they donot..??
I feel the program is good if electives are taken with proper consideration ..

Rutgers: Well structured program. Teaching you the skills you need to succeed in the interview

Columbia: Huge class size and mis match of classes, but brand name to get interviews. If you can gather the skills, then you will get the job

 

[alain]

I wouldn't count on the name of the University to get an interview at this level.

 

[smartgurl]

@alain : what would be needed then apart from a good GPA ..
do you mean work experience ?? but then freshers are taken for MSFE in reputed institutes only if they have an excellent profile .. Apart from tht wht else can I do .. I am a fresher ..
@subhrain : u mentioned about the skills.. wht skills exactly you are talking about .. ??

I am happy that you'll help get my doubts cleared .. thank you so much ..

 

[subhrain]

@alain : what would be needed then apart from a good GPA ..
do you mean work experience ?? but then freshers are taken for MSFE in reputed institutes only if they have an excellent profile .. Apart from tht wht else can I do .. I am a fresher ..
@subhrain : u mentioned about the skills.. wht skills exactly you are talking about .. ??

I am happy that you'll help get my doubts cleared .. thank you so much ..

By skills I mean proper math/finance knowledge of things. It is a well organized and rigorous program. You will learn a lot (my 2 cents worth)! MSOR seems mis-match of courses taken from different programs.

 

[akshatmittal]

HI.. even i have to decide for the MSOR prog at Columbia..
from wt Joe Yu mentioned as her tentative schedule.. it looks like a lot cn be covered up frm MSFE.. Joe pls do update us on d discussion with the dept prof if courses cn be taken up

Also, i have a waitlist frm CMU for MSCF prog... so im not able to decide to wait fr tht rsult or take the MSOR course..

Also one thing which i really wntd to know ws the placement scene.. does columbia assist with ne career services ?? and wat abt the recent placement rate..

 

[alain]

do you mean work experience ?? but then freshers are taken for MSFE in reputed institutes only if they have an excellent profile .. Apart from tht wht else can I do .. I am a fresher ..

What is a "fresher"? At this level you will need a good network of people, including recruiters.

@subhrain : u mentioned about the skills.. wht skills exactly you are talking about .. ??

proper writing skills?

 

[smartgurl]

recent placement rate even i m trying to find out.. dint get any news on it though.. as far as help is concerned.. I have read on few forums and contacted some seniors from Columbia who say that many big companies do come .. The university allows every1 to apply for them .. thats a huge a help a lot of options are open then ..

---------- Post added at 05:10 PM ---------- Previous post was at 05:06 PM ----------

by fresher i meant i dont have any past full time work experience apart from internship..

 

[alain]

HI.. even i have to decide for the MSOR prog at Columbia..
from wt Joe Yu mentioned as her tentative schedule.. it looks like a lot cn be covered up frm MSFE.. Joe pls do update us on d discussion with the dept prof if courses cn be taken up

Also, i have a waitlist frm CMU for MSCF prog... so im not able to decide to wait fr tht rsult or take the MSOR course..

Also one thing which i really wntd to know ws the placement scene.. does columbia assist with ne career services ?? and wat abt the recent placement rate..

what is "wt", "cn", "fr", "wntd", "ws"? There are short cuts for words but I couldn't figure out what you were talking about. By the way, are you that lazy in front of the keyboard?

 

[smartgurl]

I am sorry.. Would try not using them again..
wt=what
fr=for
cn=can
ws=was
wnt=want
wntd=wanted

Appologies!!

 

[anthonyzhu]

Hi..
Cornell has MS in Operations Research with FE minor if i am not mistaken.. Since i want to do MSFE program i had doubts concerning with wht exactly would the course content be.. MSOR in Columbia also provides electives from FE field.. but how much tht helps is wht i want to knw. i was redirected to MSOR in Columbia.. I m yet awaiting my results.. I got a reject from Cornell and the website doesnot reveal details on the curriculum and electives tht can be choosed from... Given that i get an admit from Columbia MSOR and i take FE electives , my concern is tht it will only cover around say 50-60% of FE portion... Should i wait for other admits from other universities or take this opportunity.. If anyone who has an admit from cornell or columbia and is definately going then please shed some light on how MSOR (minor in FE) would be different from core FE.. coz in that case MSOR (FE minor) is there in Columbia too..
This is important in terms of placements stats also.. as Columbia lays more stress on the core FE program for placements..i read this on a couple of forums..

PS:And if any one has any idea on wht topics can be studied in cornell then plz forward me the link too..it will help me decide my options..

thankyou..

The following is the curriculum of Cornell MFE program. Actually, they are listed in the master students handbook. The link is http://www.orie.cornell.edu/orie/brochures/upload/HandbookF09-Mar8.pdf

3-Semester Financial Engineering Program*
This curriculum will be in effect for students entering the program in Fall 2009. Any
proposed deviations from the requirements listed below require written permission from
the Director of MEng Studies in the School of ORIE.

Prerequisites Cr.Hrs.
• Prob & Stat II (ORIE 3500/5500 or equivalent, required) 4
• Stochastic Processes (ORIE 3510/5510 or equivalent, recommended) 4
• Computers and Programming (CS 2110) 4
• Basic Finance course (online course or self study)**

First Term (fall)
The following courses are required:
• Derivatives Securities, Part I (1/2 semester course) (NBA 6730) 1.5
• Derivatives Securities, Part II (1/2 semester course) (NBA 6740) 1.5
• Financial Engineering with Stochastic Calculus I (ORIE 5600) 4
• Fixed-Income Securities and Interest-Rate Derivatives (NBA 5550) 3
• Operations Research I: Optimization I (ORIE 5300) 4
• Monte Carlo Simulation (ORIE 5581) 2

Second Term (spring)
The following courses are required:
• Financial Engineering with Stochastic Calculus II (ORIE 5610)
or Credit Risk (ORIE 5620)*** 4
• Topics in Linear Optimization (ORIE 5311) 2
• Statistics for Financial Engineering (ORIE 5640) 4
• Monte Carlo Methods in Financial Engineering (ORIE 5582) 2
• Investments and Portfolio Analysis (NBA 5420) 3
• Enterprise Engineering Colloquium (ORIE 9101) 1

Summer Term
• Internship

Third Term (fall) at Cornell Financial Engineering Manhattan (CFEM)
The following courses are required:
• Applied Financial Engr – Project Course (ORIE 5961) 5
• Computational Methods in Finance (ORIE 5630) 3
• Seminar in Financial Engineering (ORIE 9160) 1

In addition, students must take a minimum of 6 credit hours from the following electives (at least 3
of which must be in ORIE):
• Quantitative Methods of Financial Risk Mgmt. (ORIE 5650) (not offered 2009-10) 3
• Comprehensive Financial Statement Analysis (NBA 5061) 3
• International Finance (NBA 5540) (spring only) 3
• Equity Derivatives and Related Products (NBA 6940) (fall only) 3
• Statistical Data Mining I (ORIE 4740) (fall only) 4
• Applied Linear Statistical Models (ORIE 4710) (not offered 2009-10) 2
• Introduction to Game Theory (ORIE 4350) (spring only) 4
• Applied Time-Series Analysis (ORIE 5550) (not offered 2009-10) 3
• Bond Mathematics and Mortgage-Backed Securities ORIE 5660 (CFEM) 3