Ali’s blog

Mostly quant stuff with occasional digressions

Baruch College MFE

Posted by alifinmath on January 25, 2008

I’m aware some of my readers are interested in quality MFE programs (I’ve been asked more than once). One that I’ve found is at Baruch College in NYC. It’s very reasonably priced: $9,800 for in-state residents, and $18,000 for out-of-state and international students (these figures are tuition for the entire program, compared to the $35,000 – $60,000 for other established programs). Furthermore, their placement office is competent and energetic: their placement rate is over 90%, with an average starting of $100,000. There’s a heavy emphasis on computational finance, which is where a lot of the action is. Take a look at:

http://www.quantnet.org/

http://www.quantnet.org/forum/showthread.php?t=1021

http://www.baruch.cuny.edu/math/masters.html

Caveat: graduates of programs such as Haas (Berkeley), Courant (NYU), and Carnegie-Mellon (all of which may or may not be stronger than the Baruch MFE, but probably have a higher cachet) are presently encountering problems in obtaining employment. These problems are unlikely to subside.

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4 Responses to “Baruch College MFE”

  1. Chris Prouty said

    What makes you think this one is any good?

  2. alifinmath said

    I can’t categorically assert it’s any good. However, it has been around for a few years, so they’ve probably ironed out the kinks that invariably arise in anything new. They’re based in a financial hub, which probably means more interaction with the industry, and can only help with placement. They don’t seem to be complete mercenaries — the tuition rates aren’t exorbitant, as they are at most other schools (helped no doubt by the fact that CUNY is a state school). The figures for placements and salaries given here:

    http://www.baruch.cuny.edu/math/masters_employment_stats_new.html

    are probably authentic.

    On the negative side, they don’t have major academic figures on the faculty (e.g. Shreve at Carnegie-Mellon, Rubinstein at Haas), but I don’t think it makes a material difference to the quality of intro courses in stochastic analysis and Monte Carlo methods.

    With programs like these, one pays for

    1) Solid course content
    2) Help with placement

    The Baruch MFE looks bona fide. But then again, appearances can be deceptive.

  3. quantnet said

    Check out the quantnet forums. Many of the students post on these forums, as well as a smattering of students from other programs and industry.

  4. alifinmath said

    Yes, prospective MFE students should glance at the Quantnet forum. My original post was written nine months ago. During this period any residual doubts I may have had about Baruch have long since evaporated; I now have nothing but boundless respect and admiration for both the Baruch MFE and its director, Dan Stefanica.

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