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, where the
role of mathematical finance should not be underrated. In today’s world, mathematical finance is
the game changer and I believe mathematical finance 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 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 to take a
systematic study in mathematical finance.
In pursuing a master degree in mathematical finance, I hope I can develop advanced
mathematical analytical skills applied in financial theory, especially the in-depth knowledge of
core mathematical methods for building financial models, for instance, stochastic calculus has my
intense interest. I also hope to enhance my computational practices in financial mathematics
especially a deeper study in C++ 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 learn 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.
To make sure this is the right place and right program that I really want to be a part of, I have
read reviews and discussions by students who are part of this program on 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 in maintaining the rigorous
teaching quality, especially its attention in mathematical skills’ training. Through this program’s
curriculum design, I will be benefited 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 finance, which will equip me for the core of
demanded skills in mathematical finance. I’m also aware that faculty in SMG make a lot of
efforts to help students in searching for internship and job opportunities, which will benefit my
future career planning. I believe 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 am longing to start building my career as an investment
quantitative analyst once I graduate. Attaining this position will enable me to study about the real
investment world practices by applying my learned theories. I will have responsibilities in
building innovative and targeted models to support investment teams’ jobs. 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 CFA
Level III exam and obtain the CFA certification to enhance my comprehension and
professionalism in investment.
Nowadays, 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 the solid knowledge in mathematical finance will be an important
element for a portfolio manager in the future. Therefore, starting as an investment quantitative
analyst provides me significant skills in many fields which will equip me to become a qualified
portfolio manager, which is my long term career goal. Ultimately, my future goal is to 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 to get results. In this situation, if there were errors existing in the financial
analysis, it would be difficult to trace back the origination of the errors and it would significantly
influence the analysis results. Also, it often caused conflict between managers of restaurants and
the accountant. 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 improve 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 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 the originator of financial data errors. As a result,
analysis efficiency was improved and conflictions between managers and accountant were
reduced.
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 achieving the desired goal. I believe there are many challenging
problems existing 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 my father’s company financing
activity and 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 gave credit to my father for guiding
me to choose finance as my major.
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.