Serenacml
commented
7 years ago PART C头重脚轻。 First lesson is to attend a graduate mathematical finance program, but that's NOT the question. It's how short-term career plans help to fulfil long-term goals.
Closed Serenacml closed 7 years ago
Serenacml
commented
7 years ago PART C头重脚轻。 First lesson is to attend a graduate mathematical finance program, but that's NOT the question. It's how short-term career plans help to fulfil long-term goals.
a) Why are you choosing to pursue a mathematical finance degree over a more general finance degree? (up to 250 words)
My passion for mathematical finance emerged during my junior year in college. I participated in a project titled Market-making and Portfolio Management System for Advanced Derivatives, with the goal of developing an automatic market-making system for OTC derivatives. As the Chief Strategic Analyst, I led my co-workers to implement exotic option pricing algorithms and independently developed hedging strategies. The project eventually won the National Financial Innovation Competition earlier this year. The experience convinced me that I can, and I do want to, accomplish even more in mathematical finance.
Additionally, a degree in mathematical finance is a more suitable option given my academic and extra-curricular experience. At Nanjing University, I am a Statistics major, with a minor in Financial Engineering. As a result, I have developed a strong background in time series analysis, stochastic processes and differential equations. To apply these knowledge in practice, I utilized my school’s alumni network, and secured Quantitative Research positions at several futures firms. To improve my expertise in mathematical finance in general, I have been visiting professional forums such as Quantnet and Reddit, and perusing research articles on mathematical finance. Moreover, with full awareness of the significance of soft skills for financial practitioners, this semester, I seized upon the opportunity to study at University of California, Berkeley to immerse myself in an English-speaking environment. Besides taking a full load of courses in math and statistics, I also enrolled in a leadership course to improve my networking and communication skills.
b) What steps have you taken to ensure that Boston University Questrom School of Business is right for your studies? (up to 250 words)
I have taken two steps to ensure Questrom is right for me. First, through my past experience, I have accumulated the necessary quantitative skills, industry insights and networking techniques to help me succeed in the Master’s program. They would enable me to better comprehend the Questrom’s courses that require a strong background in math, statistics and the financial services industry.
Second, I have conducted an exhaustive research on American graduate programs in mathematical finance and financial engineering. I believe Questrom’s Quantitative Analytics concentration is quite ideal for me in the sense that its curriculums allow me to develop my understanding of statistics, stochastic and computational methods on a practical level, effectively bridging the gap between my undergraduate education and future career development. What's more, by networking with current Boston University Questrom School of Business's students and alumni, I came to realize the fact that Questrom offers perhaps one of the most rigorous mathematical finance education in the United States, which I strongly appreciate since challenging coursework will not only benefit me in terms of academic levels, but also is an excellent preparation for the rigors of the financial industry. Also, I became aware of the notion that Questrom’s top-notch career services and alumni resources have contributed significantly to the high employment rate among MSMF graduates. Given the competitiveness of the job market these days, I believe the education from Questrom would benefit me tremendously in my professional development down the road.
c) What are your immediate post-graduation career plans, and how do they fit into your longer term professional goals? (up to 250 words)
During my exchange at UC Berkeley, I became a loyal participant at numerous networking events sponsored by on-campus organizations. Through one simple Friday night social, I met this lady at a downtown San Francisco restaurant, who was charismatic and well-versed in finance jargons. A few minutes into our conversation, she began to talk enthusiastically about how her hard work, never-ending willingness to learn and network quickly elevated her to middle management at a hedge fund and brought about great opportunities. Now in her late 20s, she was preparing to relocate to Shanghai after being recruited by a top firm to manage her own fund.
Her success stories gave me chills. Two lessons I learned from this experience: first, if I manage to realize my short-term career plan, which is to jump-start a career as a Quant at a buy side company upon graduation, I must stay in a constant state of acquiring knowledge and developing quantitative skills. Second, I should never underestimate the importance of social skills, especially networking and communication, in my career development. The woman’s incredible professional growth convinces me that, in order to fulfill my long-term aspiration of establishing my own hedge fund in China, I should advance my career quickly in the industry by effectively utilizing the platforms and resources my future employer has to offer.