The MS QCF Program

Frequently Asked Questions (FAQs)


On this page are answers to some of the most common questions we receive from applicants. We have made every effort to make the answers as complete as possible, but if you find that a response here does not completely answer your question, please feel free to contact us using the link to the left. Someone will reply to your question.

The Most Commonly Asked Questions


Other Frequently Asked Questions



What are the minimum GRE/GMAT/GPA scores for the program?

We do not have minimum scores for admissions to the program. The home unit you apply to may have minimums which you must meet, but the QCF program itself does not have minimums for these items.

There is a minimum TOEFL score required by Georgia Tech. The minimum score depends upon the type of TOEFL you have submitted. Those minimum scores are listed on the same page as the codes for reporting your GRE/GMAT/TOEFL scores which may be found on this page of the Graduate Admissions web site.

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What are the codes for reporting my GRE/GMAT/TOEFL scores?

The codes for reporting your GRE/GMAT/TOEFL scores may be found on this page of the Graduate Admissions web site.

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What is the deadline to apply to the program for fall/spring?

The deadlines for applications may be found on this page of the Graduate Admissions web site. Also, see this part of this page for more discussion on deadlines.

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Do I need work experience to apply to the program?

No, you do not. Previous work experience will help in finding an internship during the summer, and it will certainly help after graduation when looking for a permanent job.

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Why should you apply to the MS QCF program at Georgia Tech?

This Master's degree program falls within the category of highly focused graduate programs - with courses from a range of disciplines specialized to the modeling and analysis of problems in quantitative and computational finance.

There are several reasons that argue convincingly for participation in the MS QCF program at Georgia Tech.


What are the backgrounds of students in the MS QCF program?

The student population for Georgia Tech's MS QCF program comes from several groups of individuals who want to work on interesting modeling problems in finance, and also want good pay and the opportunity of advancement.


What should I put in my Statement of Purpose?

Here are some points that we look for in a Statement of Purpose:


Would you please make some additional remarks on the availability of financial assistance?

At this time, there is a small amount of financial aid administered by the MS QCF program itself.

Some assistantships are available, but there is intense competition for these.

For exceptionally talented students, there are some Georgia Tech fellowships for graduate students. Information concerning these can be found on the Georgia Tech website www.gatech.edu and at http://www.grad.gatech.edu/fellowship/. You should mention your interest in some particular fellowship opportunity when you send email the academic unit's contact person to request an application.

You should not rule out other possibilities in your search for funding. For example, if you have job skills, such as in computer programming, there are often opportunities for some type of employment in the Atlanta area. However, you cannot assume such a job will be waiting for you upon your arrival to Atlanta - you should consider possibilities before you arrive. Loans can also be a source of funding.

(Observe that Georgia Tech's MS QCF program is less expensive than most of the other programs of this type)


What can you tell me about deadlines for sending in application materials?

International students should apply by March 15 for the fall semester. US domestic and permanent residents may apply until April 15 for fall. The application deadline for spring is October 1.

One constraint we are imposing is that we want to limit the class size to about 50 students. You should honor the Home Unit's application deadlines, if at all possible.


Are you really serious about the prerequisites for the MS QCF program?

You should check the MS QCF website to note the prerequisites. In particular, for the MS QCF program coursework it is important that you have a working knowledge of calculus, including some linear algebra and differential equations (usually four semesters of calculus), a calculus-based probability and statistics course (one or two semesters) and some knowledge of programming to assist in solving problems (possibly C or FORTRAN, or the programming language that accompanies MatLab). The probability is important throughout the coursework.

Also, if you have not had micro- and macro-economics, you are strongly urged to take one or more courses in this area when you are a part of the program.


Can I take the prerequisites for the MS QCF program at community college?

The faculty evaluators of QCF applications look to the reputation of the college in addition to the grades. If an applicant is taking courses at community colleges, it is advisable to also find syllabi for such courses at Georgia Tech or another major institution and compare the syllabi. If there are gaps in the treatment (topics) at the Community College the person should fill in those gaps on their own - and inform us of their extra work also.

Do you have some estimates for costs of living while in attendance in the program beyond the tuition costs?

To get detailed information regarding costs for students in the MS QCF program, please go to the following website:

www.gradadmiss.gatech.edu/costs.php

Why is the program called the "Master of Science in Quantitative and Computational Finance" program?

This title gives a rather complete, but concise, description of our program. Without one of the three parts, there is clearly something missing.

First, the noun is 'finance'. This gives emphasis where it should be placed.

Second, the first adjective is 'quantitative'. This is used frequently to describe an important emphasis within several of the program's courses. The term 'quantitative' is often applied to the detailed 'formulation and testing of specific models' (as in quantitative chemistry). This is a major part of the program. In many cases, graduates of the program fit into the 'quant' label that is used within financial institutions to describe those individuals working on the formulation and evaluation of financial models.

Third, the second adjective is 'computational'. This indicates that there is an emphasis on 'implementation' of models; this involves the necessary coding and computation emphasized by practitioners. This highlights one of the aspects of the program that is one of the program's strengths - the numerical techniques found in both Math and in ISyE. Using the term 'computational' also indicates there is some advanced level of mathematical emphasis in the program.

There is also an interdisciplinary flavor to this title that is desired. This interdisciplinary connotation is important and accurate.


Why/How do I decide on a home academic unit? What's the difference between units?

First, please note that the choice of Home Academic Unit imposes NO restriction on the courses taken by the QCF students. The required courses are the same, the choice of constrained electives in the same, and the freedom to choose with regard to the free electives is the same.

The main reason for the necessity in choosing a Home academic unit is to have a location to keep your official records and a place associated with official correspondence related to the QCF program of study. The QCF Program itself is an interdisciplinary study, not an academic unit, and the associated academic units are Math, ISyE, and Management. This is just the way these administrative functions are handled at Georgia Tech.

We think that the academic unit through which one applies depends on several points. Probably the best indicator is what your background has been closest to - management, math, or engineering.

Some distinguishing features between choosing Math and ISyE as Home Unit:

For Management, here are some important points


Why are some courses jointly listed under several units?

This is mainly to take advantage of faculty in the different units who have expertise to teach QCF-related courses.


I have a three-year degree from my undergraduate school. Is that sufficient for admission to graduate study at Georgia Tech?

Holders of 3-year Indian first degrees must also hold a Masters degree. One additional year of study is not acceptable. A Masters degree must have been awarded and documented.


Can I submit my letters of recommendation on paper instead of electronically?

Sending letters of recommendation as paper copies is strongly discouraged. The application requires that a person give the name and email of all three recommenders. This method is MUCH preferred. There is a space on the online recommendation form where someone can cut and paste a pre-written letter into the space and we will receive it electronically and are therefore able to enter it into a database for review. This cannot be done with paper recommendations and in many cases lengthens the time it takes for an application file to be reviewed and a decision made. Once an application is submitted, the three recommenders receive an email with instructions for completing the online form. Most of them respond within 24 hours of the application having been submitted. This also eliminates the possibility of the paper document being identified with the wrong applicant file due to name issues in the student/applicant database.

So, yes, you can mail copies -- it will take longer to process -- but you must still provide the name and email addresses in the application. All documents should be mailed to

Graduate Admissions
631 Cherry Street Room 318
Atlanta, GA 30332-0321

Do not send anything directly to the department.


What can I expect as a salary after graduation?

Overall the QCF graduates are doing very well in the job market.

We have provided a partial list of employers of QCF students at our website. Other specific information on employment is collected, but there are many variables in this process. For example, the salary levels range between $60,000 and $120,000+. There are so many factors that lead to variations in salaries after graduation that averages are rather meaningless unless other factors are known, such as financial sector, job location, student's experiences, student's talent, student's performance, etc.


Can I pursue the MS QCF degree part-time?

We have several full-time workers who are in the QCF Program part time, and we have some QCF graduates who went through the program this way. We do not have evening or weekend classes. However, we do run many of our classes in the time periods

For individuals taking classes part-time a flexible work schedule allows them to take courses in some of these time slots. Also there are independent study options that the students construct, and some courses have been transferred from other universities when there is a big scheduling problem. There may be a few instances in later years of their program activity which require that they come in at some other daytime hours.

Of course, taking the program of study part time means that it takes longer to complete, usually between 2 1/2 to 4+ years.