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Why quantitative finance?21representing four Carnegie Melloncolleges, teach in the MSCF program.full-timefaculty,MSCF VS. MBAWeighing an MSCF degree versus a traditionalMBA in finance? Unlike the broad managementcurriculum typically found in an MBA program,MSCF graduates enter highly focused careers inrisk management, structured products, quantitativeportfolio management and financial analytics.DUAL MBA/MSCFCarnegie Mellon offers a dual MBA/MSCF inPittsburgh. Five semesters in duration, the dualdegree couples a strong analytical managementcourse of study with quantitative finance.Carnegie Mellon’s MSCF degree mirrors a new Wall Street reality in whichthe disciplines of finance, mathematics, statistics and computer scienceare inextricably linked.What makes a career in quantitative finance so appealing to MSCF students? Many are drawnby the intellectual challenge, the volatility of the markets and the chance to apply their skillsin an environment of high risk and potential reward.What does it take to succeed? Raw quantitative ability and more. Today’s “quants” areexpected to enhance their exceptional analytical abilities with polished communication andleadership skills.The MSCF program builds upon your strong quantitative and computing skills, adding abroad conceptual framework and grounding in quantitative finance. You emerge with a deepunderstanding of financial markets and their mathematical underpinnings.MSCF’s combination of coursework and industry exposure prepares you for a range of careerswith investment banks, mutual funds, hedge funds, options, energy and commodities tradingfirms, and insurance companies.2Carnegie Mellon MSCF ITepper School of Business IDepartment of Mathematical Sciences IDepartment of Statistics IH. John Heinz III School of Public Policy and Management
LondonNew to the field ofcomputational finance?overviewThe field of computational finance, or financialengineering as it’s often called, emerged in NewYork and London about 20 years ago. Largeinvestment banks and other financial servicesfirms began creating and trading specializedfinancial instruments to address corporate riskmanagement as well as to manage and profitfrom market volatility.As the industry began to better anticipate andunderstand price movement related to complexfinancial instruments, it also began seekingpeople with exceptional mathematical, statisticaland programming skills. These experts harnessan interdisciplinary mix of training and aptitudesto create physics-inspired models within theworld of finance.Trading up for greater impact?“Many MSCF students begin with therealization that they want to play a biggerrole than their current position offers.They want to influence risk, pricing andtrading decisions from a higher, morestrategic level.”Many MSCF students currently work within thequantitative finance field and pursue an MSCFdegree to accelerate their careers. Whether fulltimeor part-time, they see the MSCF degree asthe way to acquire a larger and more powerfulset of skills.The MSCF degree can help to open doors inproduct structuring, financial analytics, riskmanagement, trading and more. You will join aselect and influential group of MSCF graduatesand tap into a global alumni network in everymajor financial center.Amit Bansal, CFAMSCF 2003 4 Bear Stearns – London 4 Associate Director,Structured Equity ProductsI www.cmu.edu/mscf 3
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