1. Describe your decision to pursue an MSMF degree, highlighting the following:
a. Why do you feel this is the right time in your career to pursue an MSMF and what
specific skills are you hoping to develop? (up to 250 words)
In recent history, the global financial market has experienced several failures, and the
role of mathematical finance should not be underrated. In today’s world, mathematical finance is
agame changer; it is a must have topic for future finance professionals. I graduated with a dual
degree in mathematics and finance, and I also took and passed CFA Level I and Level II exams to
improve my comprehensive knowledge in investment. I believe my composite academic
background in both mathematics and finance meet the prerequisite requirements of the
mathematical finance program. To increase my programming experience, I am taking online
classes to learn C++ programming skills. Now, it is time for me a systematic study in
mathematical finance.
In pursuing a Masters degree in mathematical finance, I hope to develop advanced
analytical skills applied in financial theory, especially the in-depth knowledge of core
mathematical methods for building financial models.For instance, I am very interested in
stochastic calculus. I also hope to enhance my computational practices in financial mathematics,
by studying and applyingC++ programming. In addition, I want to learn more progressive
financial theories regarding fixed income derivatives and credit risk in a mathematical way.
Besides academic topics relating to mathematical finance, I hope I can also improve my
leadership skills and hand-on experiences through a graduate study to bolster my future career.
b. What steps have you taken to ensure that the Boston University School of
Management is right for your studies? (up to 250 words)
I have dedicated my energy to learning about Boston University School of Management
and the degree of Master in Mathematical Finance. At the beginning, what I learned about Boston
University and its program was through information I collected from the school’s official website.
I began by reseraching reviews and discussions by students who are part of this program on the
Quantnet forum. I also have talked with students who graduated from Boston University School
of Management and I get the sense that the school and faculty have devoted much time to
maintaining the rigorous teaching quality, especially its attention to mathematical skillstraining.
Through the design of the MSMF program’s curriculum , I believe my graduate work will be
greatly benefitted by a comprehensive study of mathematical tools and programming practices
applied in financial theory.For instance, the courses in statistical methods and stochastic methods
as well as other topics in financewill equip me with high-demand skills that are essential for a
career in mathematical finance. I’m also aware that faculty in SMG provide strong support for
students searching for internship and job opportunities, which will benefit my future career
planning. I believe the MSMF at Boston University School of Management is the right program
to help me become an eligible practitioner in the mathematical finance field.
c. What are your immediate post-graduation career plans, and how do they fit into
your longer term professional goals? (up to 250 words)
Considering my long-term interests and enthusiasm in investment, I set my career plan in the
investment management path. I long to build my career as an investment quantitative analyst once
I graduate. Attaining this position will enable me to study real world investment practices by
applying theoretical knowledge. I look forward to taking on responsibilities in building
innovative and targeted models to support investment teams. Also, as a quantitative analyst, I will
provide assistance in risk management and portfolio constructions which are both important for
investment teams. Besides training my quantitative analysis skills, I will pass the CFA Level III
exam and obtain the CFA certification to enhance my comprehension and professionalism in
investment.
Today, financial engineering is more important for the investment management field than
ever before. Quantitative hedge fund companies are becoming more competitive and performing
better. I believe that solid knowledge in mathematical finance will be an important element for a
portfolio manager in the future. Therefore, starting as an investment quantitative analyst will
provideme with significant skills in many fields. It will allow me the opportunity to become a
qualified portfolio manager.Ultimately, my future goal is to establish and run my own
quantitative hedge fund company.
2. The Boston University School of Management prepares innovative and ethical
leaders who understand the impact of business on society and who seek to create
value for the world. Please describe a situation in which you created value for an
organization or group. What was the outcome? We encourage you to consider your
contributions in both professional and community settings. (up to 250 words)
I am a person who likes creating innovative solutions to problems. When I was preparing my first
periodic variance financial report for my family’s company, I found that the financial reports
prepared by the former financial analyst were disorganized. The entries made by her were not
well consolidated. Sometimes she used formulas built in Excel to run calculations, at other times
she used a calculator. In this situation, if there were errors existing in the financial analysis, it
would be difficult to trace the origin of the errors and it would significantly influence the analysis
results. After analyzing the financial reporting system, I rebuilt the financial analysis report
model in Excel based on my financial modeling knowledge learned in college. The new financial
analysis model not only improved the efficiency in financial variance analysis, but also reduced
the occurrence of false financial data. And the financial analysis results were more meaningful for
the company. To be more consistent with the new financial analysis model, I went a step further;
I also built a financial data entry model for managers. Given the consistency of financial data
models used in the company, it was easier to trace of the source of financial data errors. As a
result, my hard work and leadership improved analysis efficiency and resolved conflicts within
the company, improving business operations overall.
3. Choose three of the following six short answer sentences: (up to 100 words for each
answer)
b. I am most passionate about overcoming challenging problems, not only in academic
but also in my daily life. I have been interested in climbing mountains since my middle
school years. And I have climbed many famous mountains in China, such as Mount
Taishan and Mount Huangshan. For me, there is a relationship between climbing
mountains and solving challenging mathematical financial problems. The key in both
situations is persistence to achieve the desired goal. I believe there are many
challenging problems that exist in mathematical finance. And my passion for persistence
will inspire me to attain to new levels of success.
c. The mentor who has had the greatest impact on my professional development is my
father who significantly influence my decision to choose finance as my undergraduate
major. During my high school years, I learned a lot about the finance activity of my
father’s as well as his investments in the stock market. My father bought many books on
finance for me and he also told me details about his company’s specific financial
operations. Little by little, my curiosity grew, and I give credit to my father for guiding
me to pursue mathematical finance as a career.
f. I am choosing to pursue a mathematical finance degree over a more general finance
degree because I have showed my talents and interests in mathematics since childhood
and I hope I can combine my passion in mathematics and my interests in finance. I still
remember how excited I was when I just learned about Black-Scholes formula and
pricing financial derivatives in college. Mathematical finance is a field where I can apply
advanced mathematical tools to solve financial problems and where I want to devote
my life.