COMPARE University of Chicago MSFM vs Columbia University MAFN vs NYU Tandon MFE

[Bangor.Z]

Hi guys. I've recently received acceptances from these three programs and I'm soooooo unsure about which one to choose, really appreciate any opinions or insights.

First of all, a little bit self-introduction. I'm from a not-so-great university in China, financial engineering major. Still haven't figured out future career plan so explicitly, but I'm pretty sure that I'm kinda scared of maths and all the theoretical stuff, feeling ok to programming, so currently I'm more interested in positions like quant researcher/analyst that mainly focus on strategy design/test or portfolio management.

Chicago MSFM
pros: highly recommended by my peers and seniors, great theoratical and researching background, rather lower living costs there
cons: location (it seems more jobs that I'm interested in is in NYC and Chicago is famous for trading and funds that are extremely tough for an average Asian student like me to secure a job, still open for your comments on this intuition), seemingly far-too-rigorous maths courses for me to handle, quarterly semester which means great pressure, heard that Chicago is unsafe to live in

Columbia MAFN
pros: great location (in NYC, maybe not as great as NYU Tandon in Brooklyn), world-famous brand name
cons: Columbia MAFN has been receiving many negative comments on it's poor performance compared to other Columbia programs MFE, OR, BA etc, its career service is extremely unsatisfying, it's expensive and rumor has it its tuitions fee is a package that does not depend on how many credits you choose.

NYU MFE
pros: grest location as well (in Brooklyn), undoubtedly rising sice Peter Carr took charge, great connection in the field and career service, curriculum that focus more on practical stuff and it's 2-year-long (quite a relief for me)
cons: seemingly over-valued due to expection stemming from momentum effect and some positive comments appear to be questionable, not such a big brand name and has bad reputation in the history.

To sum, above could be refined into three main paradoxes: does the NYC location overshadow Chicago that much?/ how's the reputation of Columbia MAFN in the US? would this title be competitve or negative when finding the first job?/ should I give up mathematical finance programs due to my preference for practical stuff?

Anyway this is a job-oriented worry so finding a job in the US after graduation is of top priority.

Really would appreciate any insights or comments from ya. Many thanks in advance!

 

[idkmyname]

congrats mate! Dr. Peter Carr addressed several questions in this post: COMPARE - NYU Tandon MFE vs Cornell MFE vs Columbia Math Fin
hope it's helpful!
All three programs are prestigious. I mean, the career service can be helpful, but it's not gonna give someone the job if the person doesn't put any effort. In every program, there are some who gets several job offers and some who gets 0. It's really up to you. Good luck mate!

 

[Bangor.Z]

congrats mate! Dr. Peter Carr addressed several questions in this post: COMPARE - NYU Tandon MFE vs Cornell MFE vs Columbia Math Fin
hope it's helpful!
All three programs are prestigious. I mean, the career service can be helpful, but it's not gonna give someone the job if the person doesn't put any effort. In every program, there are some who gets several job offers and some who gets 0. It's really up to you. Good luck mate!

cheer mate! That is exactly the point I've been reminded time and time again, but you know, I can always use resources like a good career service to get a good start, otherwise the options I'm faced with might be limited. Anyway, would you kindly share where I can find more details on the internship and job placement status of these programs, besides their official websites?

 

[Michsund]

MAFN has the best curriculum to leverage if you actually wanna be a good quant I would go there, not a popular opinion but it’s mine

 

[idkmyname]

cheer mate! That is exactly the point I've been reminded time and time again, but you know, I can always use resources like a good career service to get a good start, otherwise the options I'm faced with might be limited. Anyway, would you kindly share where I can find more details on the internship and job placement status of these programs, besides their official websites?

Maybe you can find job placement on LinkedIn?

 

[unefoisici]

Hi could you mind sharing your decision?

 

[ApolloChariot]

If considering Chicago, it's a good idea to look at a map of crime rates in the city. The neighborhood University of Chicago is in, is one of the safesty neighborhoods in crime-ridden South side of Chicago; that could be due to the student population skewing the stats and it is surrounded by neighborhoods that have far higher crime per capita.

 

[Bangor.Z]

Hi could you mind sharing your decision?

Hi, I finally chose Columbia MAFN in consideration of the location and brand name. However, it is still a controversial topic so I guess you'd better make your decision basing on your own situation.

 

[Bangor.Z]

If considering Chicago, it's a good idea to look at a map of crime rates in the city. The neighborhood University of Chicago is in, is one of the safesty neighborhoods in crime-ridden South side of Chicago; that could be due to the student population skewing the stats and it is surrounded by neighborhoods that have far higher crime per capita.

Hi Apollo thank you for your reply still! It might be helpful to other students.

 

[NYY]

Hi Everyone,
I currently have admits from NYU with a 7k scholarship, Columbia MAFN, and UChicago FinMath with a 60% scholarship. I am stuck between all three at the moment as each have their pros and cons. Ideally I want to work in a quant portfolio/asset management role following completion of the program. I have also lived my whole life in the NY/NJ area so leaving to Chicago is definitely a concern of mine. On top of that, I currently work full time in the NY/NJ area and am appealed by Columbia MAFN's ability to complete the program part-time. Additionally, the lack of safety in the Chicago neighborhoods is an additional concern I have. I would greatly appreciate anyone's feedback as I have to make a decision by March 30. Thank you !

 

[desktop]

I would go for columbia or NYU considering the location and their rank.

 

[NYY]

Those who selected UChicago, do you mind providing a bit of clarity or reasoning behind your selection.

 

[ssszzz]

Those who selected UChicago, do you mind providing a bit of clarity or reasoning behind your selection.

I voted for the scholarship basically. These three are all top-tier programs and if one of them can save 60%, I would not hesitate.

 

[Sibo]

Hi Everyone,
I currently have admits from NYU with a 7k scholarship, Columbia MAFN, and UChicago FinMath with a 60% scholarship. I am stuck between all three at the moment as each have their pros and cons. Ideally I want to work in a quant portfolio/asset management role following completion of the program. I have also lived my whole life in the NY/NJ area so leaving to Chicago is definitely a concern of mine. On top of that, I currently work full time in the NY/NJ area and am appealed by Columbia MAFN's ability to complete the program part-time. Additionally, the lack of safety in the Chicago neighborhoods is an additional concern I have. I would greatly appreciate anyone's feedback as I have to make a decision by March 30. Thank you !

I am facing exactly the same situation as you. Personally, I would prefer Uchicago, because I think its courses are more practical and have better career service. But since I am an international student and I am really unfamilar with America, the safty issue may become my biggest concern. I have heard that but not sure whether Americans truly feel Uchicago is in a realtively dangerous area or not. If that's true, as an international student, I may finally choose MAFN.

 

[JustAnotherAccount]

I am facing exactly the same situation as you. Personally, I would prefer Uchicago, because I think its courses are more practical and have better career service. But since I am an international student and I am really unfamilar with America, the safty issue may become my biggest concern. I have heard that but not sure whether Americans truly feel Uchicago is in a realtively dangerous area or not. If that's true, as an international student, I may finally choose MAFN.

Bro wake up, Columbia is almost just as bad as Chicago, and yes both of them are dangerous. You might just be better off in NYU where it's downtown and you can live midtown east or LIC or NJ.

 

[NYY]

I am facing exactly the same situation as you. Personally, I would prefer Uchicago, because I think its courses are more practical and have better career service. But since I am an international student and I am really unfamilar with America, the safty issue may become my biggest concern. I have heard that but not sure whether Americans truly feel Uchicago is in a realtively dangerous area or not. If that's true, as an international student, I may finally choose MAFN.

See I was concerned about the area of Chicago too, but then I realized there are thousands of kids who go to this school and live off campus at the same time. There are plenty of apartment complexes that are primarily with UChicago students and the school knows. Plus Columbia is technically in Harlem too lol. My debate is if I wanna quit my job and leave my friends and family to Chicago. No doubt the curriculum at both schools are both extensive and the job prospects are similar.

 

[JustAnotherAccount]

See I was concerned about the area of Chicago too, but then I realized there are thousands of kids who go to this school and live off campus at the same time. There are plenty of apartment complexes that are primarily with UChicago students and the school knows. Plus Columbia is technically in Harlem too lol. My debate is if I wanna quit my job and leave my friends and family to Chicago. No doubt the curriculum at both schools are both extensive and the job prospects are similar.

If you remember the tragic incident last year of a UChi PhD student being shot at the parking lot of his apartment, you would see that being inside the "school community" doesn't necessarily mean that you are safe. He lived in a high-end apartment building which even had a security guard at the front door (who was also injured). You were right about the Harlem part though.

 

[Test account]

If you remember the tragic incident last year of a UChi PhD student being shot at the parking lot of his apartment, you would see that being inside the "school community" doesn't necessarily mean that you are safe. He lived in a high-end apartment building which even had a security guard at the front door (who was also injured). You were right about the Harlem part though.

A Columbia student was stabbed to death a couple years ago as well. An NYU student was grazed by a ricocheted bullet last year. Shit happens. Can’t live your life in fear.

 

[xhk]

A Columbia student was stabbed to death a couple years ago as well. An NYU student was grazed by a ricocheted bullet last year. Shit happens. Can’t live your life in fear.

As a Chinese who lived in Chicago for four years and has been living in Berkeley (partially famous for homeless people), I personally get used to the environment and would never think about safety as a major factor in choosing programs. But I do see almost everyone else takes it as an important factor because these kinds of shit never happen in our country. So please maybe understand people if they have such a mentality.

 

[KiwiEngineer]

Got admitted to the Columbia MAFN and NYU MFE programs. I am still waiting on UChicago's decision but I am including it here in case I get an admit.

I have possibly gone through all the threads on this website talking about either of them and it seems like a lot changed for both recently. Below are my pros and cons about each:

Columbia MAFN
Pros:
- Great brand name
- Career services seem to have greatly improved very recently. They now have a dedicated placement person who works only with MAFN students
- Alumni in almost every top company
Cons:
- Very theoretical (not sure if enough emphasis will be put on programming and real-world applications)
- Classes might be very large compared to NYU or UChicago
- Strong competition with other Columbia programs (MFE for example)
- Very vague about career prospects on their website and it seems like there is a lot less hand-holding in terms of recruiting which could be a problem for me since I do not have much relevant internship experience
- Cost: For 3 semesters the program will cost me 120k total which is a hefty amount compared to NYU's 63k total for 4 semesters.

NYU MFE
Pros:
- Program seems to have been improving quite a lot recently. A lot of people seem to have been vouching for it since Peter Carr became its head. Rare to see a negative review since then
- Classes are small and seem to be very geared towards a mix of theory and practical applications in the industry. Also taught by practitioners which is a plus
- Lots of opportunities to pick up coding which I understand is now a very important skill to have
- Cost: NYU will only cost me 63k total, which is about half of Columbia's tuition. I also get to study at NYU for 2 years vs 1.5 for Columbia
Cons:
- Vague about career prospects (info published is only about employers from 2016-2021), which makes me a little worried
- NYU is not as well known as Columbia which might be a con since I might want to go back to Europe later in my career
- Even though the program seems to be improving a lot, there is no tangible evidence of improvements of placements, which is my main goal

UChicago MSFM:
Pros:
- Great opportunities to pick up coding and seems to have a lot of coursework geared towards practical applications
- UChicago's name brand is also very good
- Many alumni end up working for prop shops or hedge funds in Chicago
- Pretty good career services overall
Cons:
- Might be tough to come back to NYC afterwards
- Might be harder to recruit for positions with banks in NYC
- Lower ranked on QuantNet's ranking than the other 2
- It's in Chicago and I would prefer to be near NY since my family lives there
- I haven't received an admit yet

Overall my career goal would to be have either be a desk quant at a bank, or work as a quant trader/execution trader for a prop shop or hedge fund. I haven't particularly made a choice as to which I would like better and I am thus looking for a program that would open the most doors to me.

So students and alumni familiar with all 3 programs as of recently, what is the better program in your opinion?