AMA on MFE Programs
Wednesday, October 14, 2026 at 6:00 AM PDT. Hosted by Fiona Taft.
In this AMA, Fiona Taft answered questions about MFE, MFIN and other quant finance master's programs. She covered how to compare programs, application…
What this session covered
In this AMA, Fiona Taft answered questions about MFE, MFIN and other quant finance master's programs. She covered how to compare programs, application rounds and deadlines, how many programs to apply to, program-specific quantitative assessments, and what makes a strong statement of purpose.
Key takeaways
- Fiona recommended looking at each program's placement reports to see where graduates are placed and what the alumni network looks like, alongside content, faculty and location.
- She cautioned against applying in round four, since by then most programs have already given away most of their spots, which can make that round even more competitive.
- International students should check whether a program has a required internship, which she said is important under the current OPT policies and regulations.
- More programs are creating their own quantitative assessments, such as Baruch's QBA and a new optional assessment at Carnegie Mellon, which test math, quick mental math and coding.
- Fiona noted that pre-MFE courses, such as those at Baruch, are a good refresher in linear algebra, statistics and probability and a way to get face time with faculty.
- She suggested using QuantNet and attending program info sessions, which are often run by admissions staff and share new information that changes every year.
- Applicants should build and prove their quant core, including multivariable calculus, linear algebra, probability, Python and C++, and use projects to strengthen their profile when they lack relevant experience.
Questions covered
Answers are edited for clarity.
How many programs should I apply to?
It depends on how much time you have for your applications and on your profile, including whether you're applying mostly to targets or safeties. Some of my clients apply to three programs, others to six, eight or even 15. I think a safe bet is anywhere from 3 to 6, so you keep your options open and don't put all your eggs in one basket.
In terms of placements, what should the priority list of programs be?
It depends on whether you're targeting hedge funds, prop trading firms or big banks. Think about which programs are more technical, which offer more machine learning or AI courses, and whether they sit in engineering or business schools. From this list, some of the programs I would prioritize are Carnegie Mellon, Baruch, UChicago and Princeton.
How can I tell which program fits me beyond the rankings?
Look at the requirements, curriculum and opportunities each program offers. Following programs on LinkedIn shows their activities, which companies visit and their recruiter and firm relationships, and they may post updates to their application process, like Carnegie Mellon's new quantitative assessment. Also ask whether location, curriculum, brand name, faculty and alumni connections matter to you, and what your short and long term career goals are.
What do applicants worry about that doesn't really matter?
People who have worked for a couple of years and are pivoting from another industry often worry about whether they're relevant. Applicants also worry about being too general in their SOPs and about their skills. Many programs, like Baruch, offer pre-MFE courses in linear algebra, statistics and probability that are open to non-enrolled students, which are a great refresher and a way to get face time with faculty.
What is the difference between an MFE, an MFIN and an MSCF, and which is better for quant?
Programs use different names to differentiate themselves; some are more technical and some focus more on finance and economics. The real difference is in the curriculum, so look at core courses, electives and pathways, like Princeton's three. I wouldn't say one is better for quant. Look at which one has the placement results you're looking for and gives you the best opportunities. For example, if you're looking to land at Point72, Cubist or other firms, maybe you want to focus on Carnegie Mellon, and Berkeley also has great placement at Cubist and Point72, along with Baruch, UChicago and Princeton.
How important is the SOP?
All components of the application are important. In the SOP, be as specific as possible and call out weaknesses, turning them into strengths, such as weaker early courses that improved later or pass-fail courses during COVID. Tell a cohesive story about your background, why the program and why quant finance. Essays give the admissions committee insight into who you are as a candidate.