Need advice about re-application.

[Tianbai Li]

Hi Quantnet members:


I applied for top MFE/MSF programs but was turned down for all of them except for holding on the waitlist of MSOR program at Columbia University and Mathematical in Finance at Boston U. I would like to re-apply but not sure if there is a good chance to get into good programs next year. I am an undergraduate senior student at UW-Seattle, and I have some improvements during this year, so I would like to list my background for reference.

Here is my background when I submitted applications:

• Major: Economics & Mathematics
• Overall GPA: 3.67
• Mathematics GPA: 3.75
• Relevant classes: probability theory, stochastic processes, econometrics, scientific computing, advanced calculus and other basic economics and mathematics classes. Only one computer programming class (Java) and the grade for this class is not good (3.2/4.0).
• GRE: Q167 + V 153 = 320
• Two data analyst internships

After applying for graduate school, I also made some improvements:

• I took a stochastic calculus class and get a high GPA (3.9/4.0), and the professor taught this class could write a recommendation letter.
• To improve my programming skill, I took one intermediate programming class and had a grade 3.5. I currently take a data structure and algorithm class.
• I could also have good recommendation letter from other math/statistics professors who taught me after my application.

I was turned down by Mathematics of Finance and MFE at Columbia U, Mathematics in Finance at NYU, MSCF at Carnegie Mellon, Financial Mathematics at U Chicago and Financial Engineering at NYU Poly (Do not know why Poly turned me down). Also, I asked feedback from Boston U and the school told me my GRE verbal subsection is not high...

Therefore, I need advice on three things:

• First, if I re-apply, with above improvements and a higher GRE score (hopefully 327+), do I have a good chance to get into good programs (same programs I have applied and Cornell FE)? I did take a look of application trackers but still not clear.
• Second, if I re-apply this autumn, is it beneficial for me by taking one more year to study graduate level math & statistics classes (such as machine learning) or just graduate this June and try to find a job (it is hard to find a quant finance job at Seattle)?
• Third, do you think a GRE mathematics subject test would help my application?

Thanks in advance for all of your suggestions and advice!

 

[Matt_Dawson]

Admissions is like a throw of dice and if you are an "OTM swing candidate" your acceptance will be a function of overall applicant pool strength which ebbs & flows each season & how compelling case you can make. Remember, you only need to be marginally faster than the slowest gazelle not to be eaten by the lion.

Being desperate is a strategic error and wasting another year studying is no guarantee of success. Build your work exp muscle (you don't need to be quant) that could boost your overall candidacy and when you come out of MFE it will be an asset than graduating from MFE program without any work exp and being forced to accept a second tier job.

Hi Quantnet members:


I applied for top MFE/MSF programs but was turned down for all of them except for holding on the waitlist of MSOR program at Columbia University and Mathematical in Finance at Boston U. I would like to re-apply but not sure if there is a good chance to get into good programs next year. I am an undergraduate senior student at UW-Seattle, and I have some improvements during this year, so I would like to list my background for reference.

Here is my background when I submitted applications:

• Major: Economics & Mathematics
• Overall GPA: 3.67
• Mathematics GPA: 3.75
• Relevant classes: probability theory, stochastic processes, econometrics, scientific computing, advanced calculus and other basic economics and mathematics classes. Only one computer programming class (Java) and the grade for this class is not good (3.2/4.0).
• GRE: Q167 + V 153 = 320
• Two data analyst internships

After applying for graduate school, I also made some improvements:

• I took a stochastic calculus class and get a high GPA (3.9/4.0), and the professor taught this class could write a recommendation letter.
• To improve my programming skill, I took one intermediate programming class and had a grade 3.5. I currently take a data structure and algorithm class.
• I could also have good recommendation letter from other math/statistics professors who taught me after my application.

I was turned down by Mathematics of Finance and MFE at Columbia U, Mathematics in Finance at NYU, MSCF at Carnegie Mellon, Financial Mathematics at U Chicago and Financial Engineering at NYU Poly (Do not know why Poly turned me down). Also, I asked feedback from Boston U and the school told me my GRE verbal subsection is not high...

Therefore, I need advice on three things:

• First, if I re-apply, with above improvements and a higher GRE score (hopefully 327+), do I have a good chance to get into good programs (same programs I have applied and Cornell FE)? I did take a look of application trackers but still not clear.
• Second, if I re-apply this autumn, is it beneficial for me by taking one more year to study graduate level math & statistics classes (such as machine learning) or just graduate this June and try to find a job (it is hard to find a quant finance job at Seattle)?
• Third, do you think a GRE mathematics subject test would help my application?

Thanks in advance for all of your suggestions and advice!

 

[Tianbai Li]

Admissions is like a throw of dice and if you are an "OTM swing candidate" your acceptance will be a function of overall applicant pool strength which ebbs & flows each season & how compelling case you can make. Remember, you only need to be marginally faster than the slowest gazelle not to be eaten by the lion.

Being desperate is a strategic error and wasting another year studying is no guarantee of success. Build your work exp muscle (you don't need to be quant) that could boost your overall candidacy and when you come out of MFE it will be an asset than graduating from MFE program without any work exp and being forced to accept a second tier job.

Thanks for your insight and advice.

I agree that spending another year is not a guarantee of success, and having some experience is helpful. Also, it is the truth that graduating from a good MFE program could not directly lead to a first tier job.

However, a second tier job related to quant could help me step into the world of "quant" and there will be more opportunities to find a first tier job after being a second tier quant job in a few years (or maybe more). That is why I consider to re-apply.

Overall, there is no correct answer and no one knows what will happen in a few years with whatever decisions I will make.

Again, thanks for your advice!

 

[New Yorker]

I wouldn't apply/re-apply to the BU program. $$$ and not reputable.

 

[Tianbai Li]

I wouldn't apply/re-apply to the BU program. $$$ and not reputable.

Yes, it is. Generally, it is very costly for the MFE/MathFinance program. I noticed BU has a good placement rate, even though jobs are second tier or third tier jobs, like risk/technical position.