Purdue Masters in Statistics

[zennydmt]

I recently got accepted in Purdue's masters program in statistics and was wondering whether I should go or not. I got a B.S. from Carnegie Mellon in statistics and was wondering what a masters degree from Purdue would do for me in terms of job placement.

The particular program I am looking for is : http://www.stat.purd...tional_finance/

I am also applying to University of Michigan's applied masters program in statistics: http://www.stat.lsa....du/applied.html and Columbia's program.

Columbia''s program: http://www.math.colu...epartment/mafn/

Would a masters degree position me for a better job than just applying to any job right now with a BS. from CMU? Also, out of the three programs listed above, which is the best?

Edited March 22, 2011 by zennydmt

[coffeeintotheorems]

The particular program I am looking for is : http://www.stat.purd...tional_finance/

Are you paying or are you funded? If you have to pay for all of these, go to Columbia. Its brand name and location have to be superior if you're looking for quant-related work.

For more info, see quantnet.com . They're NYC-based, so they're going to have an obvious bias (probably grounded), but you can learn a lot from reading some of the quality info there.

[zennydmt]

I still have yet to apply to Columbia's program since it's due May 31. I am waiting to here back from Michigan however. I wondering how difficult it is to get into Columbia's program. Between Michigan and Purdue, where should I go? I have to pay for both.

Are you paying or are you funded? If you have to pay for all of these, go to Columbia. Its brand name and location have to be superior if you're looking for quant-related work.

For more info, see quantnet.com . They're NYC-based, so they're going to have an obvious bias (probably grounded), but you can learn a lot from reading some of the quality info there.

[illu]

Columbia's master program is not funded. I heard anyone can get in that program provided that you can afford the ~50k per year tuition for two years.

[coffeeintotheorems]

Between Michigan and Purdue, where should I go? I have to pay for both.

You're going to have to do your homework on this one, but I can give you some broad guidance on where to start.

1) I'm assuming you're interested in working in quantitative finance. If this is the case, then you should NOT attend Michigan. I have heard that the job placement statistics for their computational finance masters for the past year or two has only been about 20%...and that's their computational finance program, which you're not even applying to.

2) Check out the forum and information on www.quantnet.com. That is where I got my recent information about Michigan's CF program. Before you post a question on the forum, though, make sure do you do your homework, i.e. search the forum for any and all information about Michigan's program. (Also search their "program selector" and check out their alumnus reviews of the program.)

3) If you're looking at going to Purdue and paying, make sure you know as much as possible about their career services and job placement statistics. Purdue is also in the middle of nowhere, but it is relatively close to Chicago.

4) Not to sound like an a**hole, but why haven't you finished your application to Columbia yet? If you want to enter finance and are planning to take on a serious debt burden, you cannot afford to be irresolute.

I may also be attending Purdue this year to pursue computational finance, but I differ from you in three ways: 1) I've been admitted to that Mathematics department rather than Stats, 2) I'm fully funded with a TA, 3) I'm planning to pursue a PhD. For these reasons, I have been thus far more lax about researching the very topics I'm urging you to research (though I intend to ask them more when I visit in a few weeks.) If you find out any more info about Purdue, I'd be interested to hear from you.

[zennydmt]

For Columbia's program, are you serious that anyone can get into that program provided that they have the money? My long term goals are to work at a top hedge fund as a quant/leader, strategy developer, thinktank. I am also going to visit Purdue next month as well. The downside for Purdue is that all the jobs will probably be in Chicago. I am going to do research to see the location distribution of jobs for recent graduates.

You're going to have to do your homework on this one, but I can give you some broad guidance on where to start.

1) I'm assuming you're interested in working in quantitative finance. If this is the case, then you should NOT attend Michigan. I have heard that the job placement statistics for their computational finance masters for the past year or two has only been about 20%...and that's their computational finance program, which you're not even applying to.

2) Check out the forum and information on www.quantnet.com. That is where I got my recent information about Michigan's CF program. Before you post a question on the forum, though, make sure do you do your homework, i.e. search the forum for any and all information about Michigan's program. (Also search their "program selector" and check out their alumnus reviews of the program.)

3) If you're looking at going to Purdue and paying, make sure you know as much as possible about their career services and job placement statistics. Purdue is also in the middle of nowhere, but it is relatively close to Chicago.

4) Not to sound like an a**hole, but why haven't you finished your application to Columbia yet? If you want to enter finance and are planning to take on a serious debt burden, you cannot afford to be irresolute.

I may also be attending Purdue this year to pursue computational finance, but I differ from you in three ways: 1) I've been admitted to that Mathematics department rather than Stats, 2) I'm fully funded with a TA, 3) I'm planning to pursue a PhD. For these reasons, I have been thus far more lax about researching the very topics I'm urging you to research (though I intend to ask them more when I visit in a few weeks.) If you find out any more info about Purdue, I'd be interested to hear from you.

[coffeeintotheorems]

For Columbia's program, are you serious that anyone can get into that program provided that they have the money?

Is who actually serious? I don't think anyone here has said that. I honestly have no idea, since I have never researched any of Columbia's financial engineering programs. Again, quantnet has a ton of information on the Columbia programs and will probably be able to answer all of your questions about it.

Could you give us more detail about your background? CMU Stats is very impressive, so it sounds like you've got the pedigree down. What are your grades, test scores, research experience, and work experience? From what information I've gathered, many do FE masters straight out of undergrad, but work experience is at least somewhat preferred, if not highly preferred.

My long term goals are to work at a top hedge fund as a quant/leader, strategy developer, thinktank.

You need to go to New York if at all possible to jump-start this pursuit.

[zennydmt]

I got a B.S. in Stats from CMU with University Honors. I took many programming courses and computational finance courses. I did research experience for a professor in statistics but I also worked for a small trading company for two years. GREQ: 800 GREV:570

Is who actually serious? I don't think anyone here has said that. I honestly have no idea, since I have never researched any of Columbia's financial engineering programs. Again, quantnet has a ton of information on the Columbia programs and will probably be able to answer all of your questions about it.

Could you give us more detail about your background? CMU Stats is very impressive, so it sounds like you've got the pedigree down. What are your grades, test scores, research experience, and work experience? From what information I've gathered, many do FE masters straight out of undergrad, but work experience is at least somewhat preferred, if not highly preferred.

You need to go to New York if at all possible to jump-start this pursuit.

Edited March 23, 2011 by zennydmt

[gainer19]

Whatever you do, I would make sure to visit West Lafayette before you decide. The town, the campus, and the coeds are ugly and it's depressing there. There is no way I could live there.

[illu]

For Columbia's program, are you serious that anyone can get into that program provided that they have the money? My long term goals are to work at a top hedge fund as a quant/leader, strategy developer, thinktank. I am also going to visit Purdue next month as well. The downside for Purdue is that all the jobs will probably be in Chicago. I am going to do research to see the location distribution of jobs for recent graduates.

That is what I heard. I was not there so I can't say for sure, however.

[coffeeintotheorems]

Zenny, it sounds like your profile is pretty solid all-around, and I'd be surprised if you didn't get into Columbia. Let us know how it goes.

Whatever you do, I would make sure to visit West Lafayette before you decide. The town, the campus, and the coeds are ugly and it's depressing there. There is no way I could live there.

Yes, that's what I've heard. Going to check it out for myself in two weeks. This is slightly off-topic, but which program(s) are you choosing over Purdue's Stats (which, I'm assuming, you got accepted into)?

[gainer19]

Zenny, it sounds like your profile is pretty solid all-around, and I'd be surprised if you didn't get into Columbia. Let us know how it goes.

Yes, that's what I've heard. Going to check it out for myself in two weeks. This is slightly off-topic, but which program(s) are you choosing over Purdue's Stats (which, I'm assuming, you got accepted into)?

I'm really glad you are. Some people think that stuff really shouldn't matter, but it does a lot for me. Grad school is going to be a lot of work, so I want to make sure I'm at a place where I'm going to be happy so then I'm more likely to make it through. This advice probably applies more to PhD programs, but it still would matter to me.

I'm currently deciding between Ohio State & NC State (both for PhD programs in Statistics). A huge plus for NC State is being down in Raleigh and in the Research Triangle, which again, to me is like the complete opposite of West Lafayette. Good luck!

Edited March 26, 2011 by gainer19

[coffeeintotheorems]

Whatever you do, I would make sure to visit West Lafayette before you decide. The town, the campus, and the coeds are ugly and it's depressing there. There is no way I could live there.

Ok, I just checked it out last week and it's not nearly as bad as you describe. If you need a sunny paradise like California or a place with lots of green like North Carolina then, yeah, it's going to be rough for you. But it's not nearly this cold, femaleless hell some people describe it as. In fact, when the sun comes out (which it did most of the time I was there) it's actually pretty beautiful. (I didn't pay much attention to the "coeds" while I was there, although if that is one of your priorities then you might want to question how much effort you're willing to put into graduate studies.)