<p>Sternman - earlier on - you said that Financial engineering in the future will be ‘saturated’. What do you mean by this?</p>
<p>“Sternman - earlier on - you said that Financial engineering in the future will be ‘saturated’. What do you mean by this?”</p>
<p>Theres a lot of reasons. For one, theres only so much demand for the field and so many available positions. Second, financial engineering isn’t like ibanking where anyone with any major can work. Fin. engineering is for people with quantitative masters degrees like finance, math, etc and in physical sciences like physics. More people with Masters/phds in these fields will consume this positions, as they aren’t many to start out with. Fin. engineering is hot right now, but as soon as hedge funds lose popularity the demand for the field will go way down. It’s not like ibanks employ fin. engineering methods very much. Right now tons of people are entering Masters programs for financial engineering (usually minorities like indians/asians who don’t want to do sell side ibanking work) and soon salaries will go down and the field will be saturated. Basically I don’t see there always being a steady demand for these quants as there will be for the blood sucking bankers. If anything, it’s probably best to get a degree in financial engineering so you can start up your own group or company with others, instead of joining an established firm.</p>
<p>Whats Financial engineering?? is that major?</p>
<p>you can only get it as a Masters. I know NYU has a program in it.</p>
<p>Princeton has an UG degree in FinE while some other schools like Carnegie Mellon, Michigan and UVA offer financial mathematics for undergrads which is essentially the same thing.
I still feel there will be a need for fin engineers as we tend toward more complex markets and investment/trading vehicles.</p>
<p>That’s pretty awesome. Makes me wish I went to UVA instead. Oh well.</p>
<p>Yeah man its as if that major was made for me. However most FinE masters programs are only one year in length so its never too late…</p>
<p>How is the Ohio State Fisher School of Business fo ibanking…they seem to be on only one recruitment list (JP Morgan) but that seems odd…they aren’t bad are they? It’s basically down to OSU of UM for me but UM out of state tutition is killer and OSU in state is basically dirt cheap so…its a tough call</p>
<p>OSU is a non recruited school.</p>
<p>What is UM out-of-state tuition?</p>
<p>If by UM you mean Michigan, and tuition is less than $20K a year–well, you’ll make it back your first year if you graduate from Ross and go into i-banking.</p>
<p>University of Michigan out of stat is around $27,000 tuition…i just don’t know if Ross is worth all that extra money compared to OSU with a tuition around $7,000-$8,000</p>
<p>Well if you want a top job at a ibank or a management consulting firm than you better head to Ross than OSU.</p>
<p>How is Carnegie Mellon University in I-banking???</p>
<p>I am thinking about applying there ED, but I don’t know whether Tepper is as good?</p>
<p>Also, what is this financial mathematics program?
Is it any good?
Or should I major in something else at CMU?</p>
<p>tepper looks good on RANKING. but it’s more informational technology-oriented, rather than finance/accounting…</p>
<p>you have to look at what area the school excels at. For example, even though Babson is number one in entrepreneurship it doesn’t get i-bank recruiters because I-banking doesn’t involve entrepreneurship and that is the only thing Babson is known for. Meanwhile other schools that maybe ranked in the same relative area will get more recruiters because they excel in fields that are more closely related to I-Banking like finance, economics and accounting.</p>
<p>CMU is a top school. I’m sure you can work for a top i-bank coming from there.</p>
<p>From what I understand most CMU grads hired into i-banks do back office work</p>
<p>Oh damn…CMU was one of my top choices, if not the top…now that’s all gone down the drain…>_></p>
<p>why? theres nothing wrong with back office work. I would much rather do the back office analytical work than the ass kissing front office garbage.</p>
<p>How about UVA? Is that in the same league as say some of the ivys, gtown, umich, northwestern etc…?</p>