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wifey99999999

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Posts posted by wifey99999999

  1. OR graduates in finance are typically brought on as risk modelers, 'desk quants', programmers, and sometimes traders and structurers, from what I've seen. MS-level graduates often focus more on programming, whereas PhDs focus more on modeling.

    The following fora are good lurking spots for this topic:

    http://www.wilmott.com/index.cfm?NoCookies=Yes&forumid=1

    http://www.quantnet.com/forum/

    http://www.nuclearphynance.com/

    Most recent activities have been around traditional products, such as corporates bonds or loans (especially high yield) in the US. Currency, interest rate, and commodity groups have also been quite active, and principal protection and tax-arbitrage schemes are always steady, to name a few. Still, the complex, structured products that kept quants busy (and employed) have diminished noticeably. Financial engineers are in greatest demand when products are most baffling.

    Getting back to the question at hand, OR is a good route into finance (especially from a renown program like Columbia's FE), but the market is pretty tough. Still, quantitative people seem to be getting jobs more readily than those without such skills in NYC, from my observation. MBAs from respected programs are much bigger feeders to finance than OR will ever be, of course.

    The funny thing is that, Columbia's IEOR professors often make fun of MBA people....

  2. Hello everyone! I am an international student and have joined the forum just now. (maybe too late?)

    I have PhD admissions in industrial engineering (or systems engineering in some cases) from four schools at the moment: North Carolina State U, U of Virginia, U of Pittsburgh and U of Southern California. All schools except NCSU offer assistantship or fellowship. The situation with NCSU will be determined later.

    I have five other pending applications, but I am having trouble deciding even between these four. Can anyone help me out in some way?

    Much thanks...

    Go to UVa if you can't afford to pay full tuition,... Go to NC State if you afford to pay NCSU tuition..

    Stay away from U$C.

  3. I still haven't heard from Cornell about my app - no waitlist, no reject - what do you think is happening ?

    I also haven't heard about too many Cornell admits - just a handful or so. I'm sure a majority of their results/admits are still not out.

    most likely you're on waitlist...

    By this time of the year, most programs have sent out 1st round of acceptance.... if you have not heard from the programs (admit or reject), then you most likely are on waitlist... Most schools don't send out notification to notify you are on waitlist.

  4. I didn't mean that the department treats non-FE badly. In fact, from what I heard, there is no discrepancies between FE students and OR students at all, except on your degree. What I meant was that the majority of professors at Columbia IEOR do FE-related research (70%). If you are interested in something like Logistics or Supply Chain or Applied OR as such, the opportunity to do research as well as to discuss with professors who are in the field is limited.

    Columbia is better than Cornell in FE-releated field and maybe less competitive in other fields of OR. Again, this is what I heard from someone else who went to Columbia. He might be bias.

    I see. That makes more sense.

    But if you check their faculty listing, you can still see there are a lot of OR professors in non-FE areas. Columbia does have some big names in FE, like Emanuel Derman...

  5. A friend of mine who went to undergrad and MSOR at Columbia said the department focuses mainly on Financial Engineering and other OR fields are not as competitive. For someone like him and many other people who are interested in other fields of OR, there are better programs such as GaTech or Cornell or MIT. (Princeton's OR also focuses mainly on FE)

    For me, I think I am 80% sure that I will attend Stanford unless Columbia offers me some scholarship, which I highly doubt.

    I understand MSFE is the crown jewel of the department, but..... what does "mainly focuses on FE" mean? Does that mean department treats non-FE students like ****? Does it mean FE and non-FE student take different classes (which I don't think is true, because although a few FE classes are open for FE students only, most FE classes are still open to all IEOR students)? Does it mean all funding goes to FE students? Does it mean non-FE students will have hard time finding advisors?

    Also, while MIT and Gatech may be better in OR than Columbia, I still think Columbia is above Cornell in OR....

  6. I mean the acceptance rate for people who got admits and actually went there.

    So you meant the "yield %"... then that makes sense.

    I am surprised Columbia has trouble getting new admits to go. It's in NYC. It's Ivy League. It's top 7 in OR. So unless so many of their admits also were admitted to the likes of MIT, Princeton (which is unlikely, since MIT, Princeton have very small intake), they should not have problem attracting students there.

  7. I was contacted by Columbia MSOR today by email, asking me to call them for a quick interview. So I called and were asked about what are my other admits and whether Columbia is my first choice.

    It seems Columbia is really struggling to retain good candidates. I guess their acceptance rate was really low last year.

    Their acceptance rate can't be low... If they are struggling getting students, then they should send out more admits than before.... Why would they be too selective if they can't find new students? My guess their acceptance % is probably 25~35%.

  8. Stanford Engineering

    Interestingly appropriate article about Stanford Engineering from the SFGate. Basically, Stanford admits that they are going for a new "soft" approach to engineering that is divergent from what you'd expect in a tradition technical institute. They are seriously on the "edge" of accreditation as an engineering program?? The head of the program is even quoted as saying: "These students might not be as technically facile, but over five or 10 years they become the project leaders and innovators," he said. "They may have new ideas and take a very different view of problems."

    Uhm, seriously?

    I guess that's why they rejected me... I am way too technically facile for their standard....

  9. I will choose Stern. But I feel so sorry to say 'sorry' to northwestern and maryland, especially northwestern because everyone I met there during the info weekend last month was SO nice to me. Really, everyone: professors, students and staff. Everyone seems happy and enjoys the life there. So I am sure you will love it there too, ORmalv. For me, since my fiance is in philadelphia now, I don't want to stay too far away from him. So among schools on same level, I will choose the one on the east coast...

    Does it bother you that NYU has no campus? I mean, no campus means there will be no campus atmosphere like you would experience at many other schools, right?

  10. lol Wifey...I think someone is a little bitter he did not get an admit from Stanford.

    Either way, that number does not seem any larger or smaller than before. The number of admitted students does not equal the number of students who plan to accept the offer. We have no idea what the historic yield is. The fact that there are 284 current Masters students makes sense since the program is intended to be completed in 1 school year. Thus, at any one given time, we should expect there to around 200 or so first year Masters students and perhaps a few more who decide to take the course part-time and complete it in 2 years or more.

    The high number of doctoral admits doesn't surprise me either considering that the yield is probably lower than other departments and the department is so interdisciplinary. There are 8 tracks within the departments with professors researching in each group, which translates to about 15 or so admits per track. That doesn't seem too strange.

    The "Cash Cow" nature of a program is true of most Masters programs. It's not particular to MS&E. Honestly, I would be more worried about paying 40k in tuition for a non-technical degree than one that sends most of its grads to tech/consulting/finance/business. Plus, if you are interested in tech/entrepreneurship/venture capital, Stanford is absolutely the best school to go to.

    And finally, the entire MS&E department is moving to a brand new engineering building in the summer. I saw pictures of it and it looks pretty incredible. We would be the first class to enjoy the new building, which would be pretty cool.

    I wasn't bitter when I received the rejection, because I thought Stanford has a small intake like Princeton or MIT (50 or so admits each year)...

    Now that I know Stanford has even larger student body than Columbia, and I had admission offers from large-size programs like Ga-Tech, Columbia, Michigan, then I'd feel a little bitter how I didn't get in...

  11. The entire department has 284 MS and 108 PhD students, .... they can't possibly double their department size

    source:

    http://www.stanford.edu/dept/MSandE/cgi-bin/academics/studentinfo.php

    That's a pretty big department...

    The number is even bigger than Columbia's IEOR department's number, and we all thought Columbia's reputation is taking a hit by taking too many students!

  12. Just got some news from Stanford's MS&E department. They have admitted around 120 doctoral and over 275 Masters students this year! Is that a lot? or is that a regular figure?

    Wow. I am surprised.. I was told that they admit about 25%~30% this year... And I am even more surprised that I am not one of the 275 Master admits.

  13. I assumed the interviews would be to gauge the interest of an MFE applicant to pursue a course in OR.

    I guess the interviews/ discussions have started today.

    Request the people who have had the interview to share with us what it was all about.

    EDIT : a friend who got "interviewed" was asked just 3 simple questions - Is he interested in the OR program, Has he applied to other schools and How he plans to finance the program. Looks like once these questions are answered satisfactorily, these applications will be added to the MSOR application pool.

    sounds like it's not really an "acamedic" type of interview (i.e. why you want to come, how the program will help you in the future, why you are good fit for the program... types of question). Instead, it's more like gauging the interest ...

  14. Bad time for Columbia.

    Why do you need to extend the deadline 2 more months?

    why do you need to interview and convince people to come to columbia?

    They didn't have to do that before? why now?

    More programs, more competition.

    Deadline extension is a good argument for bad time...

    However, if they want to convince people to come, why not simply offer them admission (or better yet, offer them financial aid (full or partial) too), and save the interview process? Normally, interview is used to filter out the borderline applicants. So I am not sure interview MS applicants is a sign of bad time. But it definitely looks weird.

    But the question is definitely, "Why now"? This is something that intrigues me as well.

  15. I am also deciding between Stanford MS&E and Columbia MSOR (assuming I will eventually get in). Both schools cost ~$40k for tuitions a year. Since living expense should be the same in Palo Alto and NYC, cost would not be a factor to compare both programs.

    In general, both programs offers the same flexibility I need, I could choose business courses and finance courses to make my curriculum fit consulting industry requirement. The attention and reputation of professors are quite similar.

    Regarding job placement, Stanford MS&E seems doing better than Columbia MSOR but to me as an international student, I just feel it won't make much difference. It's going to be very hard in either places and I have to compete with like .... another 200 master graduates, let alone undergraduates.

    Therefore, the only differences is Stanford's culture vs Columbia's culture: an entrepreneurial technology oriented environment (relaxed, creative) vs traditional conservative environment (ivy league, formal). Personally, I would prefer Columbia because of NYC and partly because I am accustomed to East coast through my undergraduate. However, Stanford's culture seems more fit for global economics, especially in emerging markets like China or other countries in Asia. Also, Stanford's reputation is more famous internationally compared with Columbia.

    It's a tough choice for me as well ....

    I am assuming you went to ugrad at a school near Boston (BC, BU, Taft... ?). I think Boston is pretty much the same as NYC, atmosphere-wise, but you probably would feel a culture shock if you go to Stanford ...... stanford is not as fast-paced campus as columbia...

  16. Don't you guys think that by extending the deadline for 2 more months, Columbia shows how desperate it is this year to get students? I was between Stanford and Columbia but after seeing this extension, I feel less confident about Columbia's OR Program. They're almost on the verge of combining the deadline for Spring & Fall admission.

    The deadline extension is for the entire engineering school, not just IEOR department.

  17. I just logged in the application website for Columbia OR and it says that the application deadline has been extended to April 15 ....

    So I guess we shouldn't expect the decision to be sent out anytime soon. This is so bad since I have to reply to Stanford by that time.

    I think you will be accepted by Columbia...

    IMO, Columbia OR is easier to get in than Stanford MSandE for their respective masters program. (I got accepted into Columbia MSOR, but rejected by Stanford MS&E) since their class size is generally larger, and they admit more students than Stanford.

  18. I don't know about OR but in CS I heard Cornell practically offers every rejected PhD applicant an M.Eng. This is probably an exaggeration but I think the point is it is very likely for a rejected PhD applicant to get an M.Eng offer.

    I have a friend who got into Cornell's MEng in Computer Science with just 340 verbal score (but 800 quant).

  19. Why do you want to know the name of the school? No offense ....

    Assuming you want to know because you'd like to evaluate the competitiveness of each applicant, I personally think there is no differences knowing the name of the school. To admission committee, all top schools and schools from ivy leagues are the same. Saying that you are from Harvard or Yale or Cornell doesn't make much difference to them. Likewise, saying you are from Cal State, Penn State, or Michigan State also doesn't make much difference to them either .....

    THe name of the undergraduate school definitely matters. For example, a GPA of 3.5 from a school like Ohio State or Penn State would mean different thing than a GPA of 3.5 from a school like Cal State-Los Angeles. Similarly, a GPA of 3.5 from UC-Berkeley is different from a GPA of 3.5 from UC-Riverside. These are all "Big State Schools". But the rigor of academics is clearly different.

    For example, check out the FAQ section on GaTech's website... :

    Q: My undergraduate GPA is a 3.2 but it was earned in a very tough program. Will you consider that in making the admission decision?

    Of course---if we can. There is little doubt that there can be substantial variation across programs and institutions relative to grading standards and the level of competition, i.e., 3.9's from some places can mean far less than 3.2's from others. Still, trying to analyze/assess these sorts of institutional and program variations is very difficult; we try our best.

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