MBA Quant Experience

I asked some Tuck first years for their perspectives on quant issues as they look back on fall term. I'll be posting responses as they come in. Here's the first, which I've organized along the quant themes that I mentioned in my message to them.

First, the student's background:

Before coming to Tuck I majored in economics and spent three years working for a small executive search firm. This job prepared me very well for most aspects of business school, but did not include much quant experience. I did a bit of brush up work over the summer and came early for math camp, which was tremendously helpful. Not only was I able to remind myself of the accounting and economics I learned in college, but I also learned a lot of useful modeling tools that I had not seen before. Also, math camp was a great way to get to know classmates and get your mind ready for attending classes again.

Getting In is the First Foothill, Not the Mountain

Your quant struggle is directly related to your background and your aptitude for the material. For me I had seen most of the material in some form and learned it without too much pain. However, some of the capital markets material was totally foreign to me so that required a lot of work.

Protect Your Investment by Arriving Prepared

It is crucial to stay on top of the material in school. If you fall behind, it is all over. The amount of preparation also depends on your background. Some people need none and others need to spend most of their summer working on their skills. You have to know where you stand. At first, I did not want to do math camp because I did not think I needed to, but I am very glad I did and it left me feeling very comfortable to start classes.

Know Thyself: Confidence is King

Self-confidence is critical in school and beyond. So long as you are keeping up in your classes (even if you are having to work very hard to do so), this should not be a problem. People come to school to learn and if you are not being challenged it is not a worthwhile experience.

Summer Before B-School is Chaotic

The summer before school takes on a life of its own and differs widely among various students. It is important to get some relaxation in so you are charged when school starts. However, if you are a student who needs quant experience, the summer is the time to do it. Once school starts the schedule gets crazy and the time won’t be there for extra practice.

"Knowing About" Is Not "Knowing How"

B-school is different from college because everything is applied to real life. The other key difference between college and b-school is that the cases don’t give you direction, so you need to know exactly how and when to apply all the concepts you know.

Bankers, Engineers, and CPAs, Oh My!

In the beginning of b-school there is a serious gap in quant expertise across the class. It is important to remember that some people are CFAs and some are CPAs and that they can help you. Along these lines, don’t get frustrated by the fact that you will have to work MUCH harder than they will in the finance classes. That is just the way it is – they already went through this earlier in their careers.

(Limited) Time is of the Essence

Time-management is the key to first year. The programs intentionally overload you and it is important to keep stress in check and make sure to work efficiently.

Quant Struggles are Emotional

The big thing about the emotional side of it is to remember when someone else is having an easier time that they have probably studied this before. The best thing to do is to ask the pros for help if you are lost and not to worry that they are ahead – so long as you get it before the test.