diredingo

Not sure about Mat Sci in general, but I'd think that UCSB would be great for LED, quantum wells, GaN, and such w/ Shuji Nakamura there.

Yes, contingent credit default swaps, as testarossa mentioned. Swaptions on CDS, in other words.

Got accepted into Columbia recently. I didn't receive an interview request. Credit Risk & Derivatives (hopefully covers CCDS), Term Structure Models, Vol Smiles, and Data Analysis will be practical. Courses on Machine Learning and Perception also seem worthwhile once my programming improves (a lot).

Also, hedge funds and (re)insurance firms seem like popular destinations for IE/OR-types.

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.

Here are some current listings from a trade group, for your reference. http://careers.iienet.org/c/search_results.cfm?site_id=161 Some elaboration, as requested: I suspect the economy will continue to be bifurcated for a few years to come. Larger (multi-national) firms will likely do well. Many are sitting on enormous amounts of cash (saved with personnel and CapEx cuts) that that will eventually be deployed. Rates and spreads will make financing for projects (and M&A, buy-backs, disbursements, etc.) more attractive. Domestic (US) consumer-related industries will likely remain anemic, however. The private sector (especially consumers) is undergoing some painful deleveraging to repair balance sheets, and many also point to continued capital concerns at financial institutions. More worryingly, I suspect governments here (especially state/local) will face considerable funding issues in time; that will not be pleasant. All this may not even be an issue for some graduates because expat visas are scrutinized when underemployment persists. Globalization will not stop, so India may not be a bad place to be after school anyway. IE/OR also has lower capital-related barriers to entry than, say, aerospace engineering, so training in the US may be less vital. You can do great math and programming at many places at the MS-level. On the other hand, a US degree with cachet does offer great opportunities and connections that few can match. Economies also move in cycles, and there are many areas where the US remains preeminent. I'm not an industrial engineer, so please take these comments for what they cost - very little.

Btw, here's a great site & forum for info about financial engineering programs. Most are housed in IE/OR departments. Also has an application tracker and problem sets for the curious. http://www.quantnet.com/forum/forumdisplay.php?f=44

<br /><br /><br /> Congrats on your acceptance to the best program in America!

I wonder how typical application extensions are. The economy has improved here (thanks to exceptional generosity from DC & Fed), but employment prospects are still challenging. If there are many undergrads without prospective offers (who didn't plan for grad school), then it would make sense to provide an alternative with this extension. Rolling admission for current applicants would be a seemingly non-exclusive option, however. They can always expedite this process by accepting me now.

<br /><br /><br /> Yeah, not a lot of time to respond; I have to get back to them just a couple of weeks later. I get the sense that Columbia has a stronger financial engineering program (my industry), so waiting seems worthwhile. Btw, I found some great placement info, but surprised at the number of MS going in as Analysts in finance (usually for BA). Salaries, however, seem more Associate level. http://cardinalcareers.stanford.edu/surveys/0809/destination/placement/default.htm http://cardinalcareers.stanford.edu/surveys/0708/destination/salarystats/default.htm I couldn't find similarly granular placement info for Columbia. http://www.ieor.columbia.edu/pages/graduate/ms_financial_eng/fe_career_statistics.html

<br /><br /><br /> Many firms pay for part-time schooling, so that's a good way to get your education funded. Hours in consulting are often pretty bad from what I hear, so may not work in that industry.

<br /><br /><br /> Haven't received a decision here, either. I remember getting an email many months ago confirming items received, but nothing since.

<br /><br /><br /> Oh. Just re-read the post. Reading comprehension is already gone. Need another cup of coffee. Thank you for all the helpful info and advice on this forum.

<br /><br /><br /> Oh. Just re-read the post. Reading comprehension is already gone. Need another cup of coffee. Thank you for all the helpful info and advice on this forum.

<br /><br /><br /> Sorry, I'm not the person ladysquirrel was thinking of; just a recent lurker in this forum. Profile wise, 3.5 undergrad gpa, 790Q/720V/5.5W, and master's. I've also been working for many years, mostly in finance. Received great recs from co-workers, so that probably helped a lot. Columbia would be much more convenient from where I live and it has a great reputation & network in the industry. I'm doing distance b/c still working (fortunately), so less of a problem. Will miss out on fun campus life, though.

Got acceptance email from Stanford yesterday (3/8). Haven't heard from Columbia yet.