Graduate Diploma/Masters in Mathematics

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Graduate Diploma/Masters in Mathematics

Postby mhsusilo » Wed Jun 22, 2011 3:48 am

Hi Everyone,

I am new to this forum and would like to get some advice from other quants.

My background is in accounting and finance at university level. It was only half way through my degree that I found out accounting was a waste of time for my career objective of becoming a successful quant trader and that I should have focused more on applied mathematics. I am in my last semester of university (gonna finish off what I started) but I was recommended to do a graduate diploma or masters in mathematics. I have a few questions related to this recommendation.

Firstly, what is the difference between a graduate diploma and doing a normal accounting finance degree and diploma in mathematics (completed whilst at undergraduate level)? Can anyone recommend any courses in Australia, in particular is UWA's school of mathematics reputable to build the foundations for a career in financial mathematics?

Secondly, would a masters in financial mathematics be considered as a masters in mathematics or should I really focus on pure mathematics? Does anyone know of any reputable Masters in Financial Engineering courses in Australia? I know that UNSW, UWA, Macquarie and University of Wollongong have masters in financial mathematics but I am not sure if that is the same as a masters in financial engineering.

Any help will be much appreciated.

Kind Regards,

Marco
mhsusilo
 
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Re: Graduate Diploma/Masters in Mathematics

Postby mj » Thu Jun 30, 2011 6:39 am

I don't see how pure mathematics would help you -- in fact, I suspect you have a poor notion of what pure mathematics is.

To be able to complete a financial engineering degree requires a high level of mathematical sophistication. This means doing some form of course in it such as a diploma or masters aimed at non-science students.

Regarding differences in diplomas, I doubt there is much difference but you would do best to ask the people offering them.

The UTS degree in financial engineering is good but requires strong maths skills.
mj
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Re: Graduate Diploma/Masters in Mathematics

Postby mhsusilo » Sat Jul 09, 2011 6:24 pm

Dear Professor Joshi,

I have been looking into several graduate diploma in mathematics. Most of them requires me to have significant quantitative background in my bachelors degree. I am beginning to think that I should just undergo a bachelors in science (applied mathematics and computer science) and then finish the masters in quantitative finance, that way I will ensure that I will have the quantitative background to complete the course well.

However, the thought of undergoing another 3 years bachelor is really daunting and if there is another option in which I can obtain the necessary skills in a shorter period of time I would really like to know.

Your opinion and input will be greatly appreciated.

Regards,

Marco
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Re: Graduate Diploma/Masters in Mathematics

Postby mj » Sun Jul 10, 2011 11:38 am

doing a bachelors degree in a quantitative subject is roughly what it comes down. I can't say I'd recommend going down that route unless you are really stellar at mathematics.
mj
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Re: Graduate Diploma/Masters in Mathematics

Postby STC_P » Fri Aug 26, 2011 2:10 pm

Dear Professor Joshi,

I believe that you have answered the question above, but I feel I should ask you for my specific circumstances. I currently attend the University of Toronto in Canada going into my 3rd year; I'm doing a double major in Math and Finance. This is where my concern lies, I want to get into the quant field and I thought that I had figured out the most effective way of doing that by trying to obtain a Masters in Financial Engineering, but as of late I've been reading conflicting opinions that it might be better that I get a PhD in mathematics instead. Which of these routes is better, or do they end up in the same place?

Thanks.
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