Which school is better in a long run?

[leon1127]

I have applied 13 schools but I have the following "primary" target: PhD in Financial Maths at CMU, MS in Financial Maths at NYU and UChicago, Rutgers.

These are some pros and cons about them.
CMU is the only school that has large faculties in Financial Maths. But I applied only to their PhD only. As many people would know, it is not easy to seek a position with a PhD degree. And it will take at least 4 years to complete its programme.

NYU lies at the heart of stock market. If I can take this advantage, I will be able to gain valuable experience at earlier stage of my career. Moreover, I love living in city like that. However, it is the most expensive school out of 4. (3 semesters)

Chicago ranks the highest in Maths among all schools I have applied. Its cost is not much behind NYU. (3 semesters)

Rutgers is the cheapest among 4 schools and needs only 2 semesters to complete a degree (I think). It is also not too far from NYC. However, it ranks a lot lower than NYU and Chicago.

Money is a problem but I am willing to get loan if the degree is worth that much. Assume I get accepted by everyone of them, then the most important factor is that if I can find a good position which can pay my loan, and feed my family after I graduate. What do you think?

Thanks
Leon

 

[TonyG]

Dear Leon,

Thank you for sharing your concerns and thoughts about your graduate school options. As a scientist with experience in the field of mathematics and finance, I would like to offer my perspective on your choices.

Firstly, it is great that you have a specific goal in mind for your graduate studies - a PhD in Financial Maths at CMU. This shows that you have done your research and have a clear understanding of your interests and career aspirations. Pursuing a PhD is a significant commitment, both in terms of time and financial resources, but it can also open up many opportunities for you in the future. As you mentioned, CMU has a strong faculty in this field, which is definitely a plus.

On the other hand, I understand your hesitation in pursuing a PhD due to the competitive job market and the length of the program. It is important to carefully weigh the pros and cons and make an informed decision. If you are accepted into the program, I would recommend talking to current PhD students and recent graduates to get a better understanding of their experiences and job prospects.

Moving on to your other options, NYU and UChicago both have strong programs in Financial Maths and offer the advantage of being located in major financial hubs. This can provide you with valuable networking opportunities and hands-on experience in the industry. However, as you mentioned, they are also more expensive than Rutgers. It is important to consider not just the cost of tuition, but also the cost of living in these cities.

Rutgers may not rank as high as the other schools, but it still offers a solid program in Financial Maths. It is also more affordable and has the advantage of being located near New York City. It ultimately depends on your personal priorities and goals.

In terms of finding a good job after graduation, it is important to have a strong academic background, but also to gain practical experience through internships and research projects. Networking and building connections in the industry can also greatly benefit your job search. I would recommend reaching out to alumni from these schools to learn about their career paths and any advice they may have for you.

Overall, it is important to carefully consider all aspects of each school and program and make a decision that aligns with your goals and priorities. Good luck with your applications and I wish you all the best in your future endeavors.

 

[piercas]

ardo

I cannot make a definitive statement on which school is better in the long run as it ultimately depends on individual goals and preferences. However, I can provide some insights and considerations to help guide your decision.

Firstly, it is important to consider the reputation and ranking of each school in the field of Financial Maths. As you mentioned, Chicago ranks the highest in Maths among all the schools you have applied to, which may be an important factor for you if you value a strong academic reputation. Additionally, CMU is the only school with a large faculty in Financial Maths, which could provide more opportunities for research and mentorship in your desired field. However, it is important to keep in mind that rankings and reputation can change over time and may not necessarily reflect the quality of education and opportunities available at each school.

Secondly, consider the location and resources available at each school. NYU is located in the heart of the stock market, which could provide valuable hands-on experience and networking opportunities. Living in a city like New York could also be a positive aspect for you personally. However, as you mentioned, it is also the most expensive school out of the four. On the other hand, Rutgers is the cheapest option and located near New York City, but it may not have the same resources and opportunities as NYU or Chicago.

Additionally, consider the program length and cost. A PhD program at CMU may take longer to complete, but it could also provide more in-depth knowledge and research experience in Financial Maths. On the other hand, a shorter program at Rutgers may save you time and money, but it may not provide the same level of expertise and opportunities in the long run.

Finally, it is important to consider your personal and financial goals after graduation. If you are willing to take on a loan, it is important to make sure that the degree you choose will provide you with the necessary skills and opportunities to secure a good position in the future. It may also be helpful to research the job market and demand for Financial Maths graduates at each school.

In conclusion, there is no clear answer on which school is better in the long run as it depends on various factors such as reputation, location, program length, and personal goals. I recommend carefully considering the pros and cons of each school and evaluating which one aligns best with your academic and career goals. Good luck with your decision!