Michigan MFE [Urgent] MS in Finance from Univeristy of Michigan-Dearb

[Alkie]

I am from Hong Kong who has worked in the banking industry for almost 5 years by now after graduating from a Hong Kong university with a Actuarial Science major.

I have recently submitted a last minute application to the University of Michigan-Deaborn, MS in Finance programme and got accepted. When I say last minute, it is really within a few days..... So now, I am struggling on whether I should accept this offer as I don't know what is the reputation of this course (and it is a bit hard to find relevant information on the web...) given current workload from my job is actually quite heavy, therefore I want to make sure I am investing both money and time in something that worth.

I will have to make a decision within next week, therefore I would like to seek all your help to advise what do you think about this course, and how does the market perceive this course.... Thanks!

 

[Alkie]

Sorry for catergorised it in the wrong suffix, believe this shouldn't belong to Michigan MFE.... sorry guys, new to the forum.

 

[bullion]

I love the whole apply-first-and-ask-questions-later approach. How did you guys even write your application essays?

What do you hope to get out of this? Given that it's a non-traditional degree (MFin) from a non-target school (UMich - Dearborn) which you can get ONLINE, it probably won't help you much with advancing your careers in HK. If you're just looking for a vacation in the States, maybe it can be a good time. But other than that, general interest toward finance is best served through traditional MBA. Have you thought about applying to HKUST or HKU/Columbia? Peking U also has a satellite campus in ShenZhen. Just a few options...

 

[Alkie]

Hi Bullion, thanks for your comment. I actually attended the info seminar hosted by HKU Space (the institution which organises the UMD programme in HK) last week and they offered a 3-day turnaround application.... I was actually going to get prepared for Fall intake.

I am definitely hoping to get something solid from the course, in terms of knowledge and recognition, not just for leisure. My key hesitation for applying other programmes (btw, I am not considering MBA at the moment as I wish to do that after I got more experiences at work) is I haven't done any GMAT/ GRE which seems to be a basic requirement for other colleges.

So, you think MDE MS Fin may not be something that has a reputation in the industry?

 

[bullion]

Is MFin worth it?
The level of technical difficulty rises from MBA to MFin to MFE. MBAs have a lot of history (with established recruitment channels) and MFEs have a very clear function (programming + math.) There's no clear definition of what MFins do, and that's why only two schools had been able to stand out here on QuantNet. MIT is well known because it's MIT, and Princeton MFin is really hosted by the same people who does their PhD and undergrad programs in financial engineering. Other MFins are practically unheard of. They also won't help you with MBA admissions.

Is MDE worth it?
I also can't tell you how MDE is perceived in HK. I do remember, however, learning from my conversation with a director at a HK bank that they have a college recruitment list. Basically, they have a list of schools they recruit from. If you aren't from one of those schools, they don't read your resume. And knowing how saturated and competitive the HK market is now, I highly doubt MDE is on that list.

Basically, any program you can get in without a stellar GRE or GMAT has no reputation value at all. You can only gain recognition by going through the same gut-wrenching, red-bull-dosing rite of passage like everyone else, and these standardized exams are just one way to tell your resume reader that you're at least the top of something at one point. It's just like hiring HKU students. You might not know what classes the students took, but you expect they got more As on GCE than most kids from a lesser-known school.