CLASS OF 2017 EMPLOYMENT REPORT INTERNSHIP & FULL-TIME EMPLOYMENT

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John Blankenship
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CLASS OF 2017 EMPLOYMENT REPORT INTERNSHIP & FULL-TIME EMPLOYMENT 2 0 1 7 F U L L-T

1 CLASS OF 2017 EMPLOYMENT REPORT INTERNSHIP & FULL-TIME EMPLOYMENT F U L L-T I M E & I N T E R N S H I P S TAT I S T I C S F O R STUDENTS GRADUATING DECEMBER 2016

2 FULL-TIME EMPLOYMENT INFORMATION There is no common standard for reporting placement information among professional financial engineering master s programs, and the reports of such programs are not audited. MSCF is administered by the Tepper School of Business, and we follow the rigorous business school standards set by the MBA Career Services & Employer Alliance for specialty master s programs; see mbacsea.org/standards. Permanent US Work Authorization* Non-Permanent US Work Authorization Number of Total Students Percent of Total Students TOTAL STUDENTS % TOTAL NOT SEEKING EMPLOYMENT** TOTAL SEEKING EMPLOYMENT % % * Permanent Work Authorization is defined as U.S. Citizens and Permanent Residents. ** Not seeking categories include: Company Sponsored or Already Employed, Continuing Education, Postponing a Job Search, Starting a New Business (2017 = 1), Not Seeking for Other Reasons, and No Recent Information Available (the No Recent Information Available category includes those graduates who may or may not be seeking employment, but for whom we have no recent reliable information). TIMING OF FIRST JOB OFFER TIMING OF JOB ACCEPTANCE Total Students Percent of Total Students Total Students Percent of Total Students BY GRADUATION 66 73% BY GRADUATION 61 68% BY 3 MONTHS AFTER GRADUATION 79 88% BY 3 MONTHS AFTER GRADUATION 76 84% BY 6 MONTHS AFTER GRADUATION 85 94% BY 6 MONTHS AFTER GRADUATION 84 93% Statistics calculated as of the graduation certification date of 1/17/17. FULL-TIME EMPLOYMENT COMPENSATION * Table below includes all salaries reported, regardless of time of job acceptance. Mean Median Minimum Maximum Number of Students Reporting Salary Information ** BASE SALARY SIGNING BONUS $98,255 $95,000 $22,656 $175, $18,556 $10,000 $5,000 $100, * Excludes guaranteed and non-guaranteed bonuses, relocation expenses, stock options, and any other additional compensation. ** 99% of students who received an offer reported a base salary and 42% of students who received an offer reported a signing bonus. 2

3 SOURCE OF EMPLOYMENT SCHOOL-FACILITATED JOB POSTINGS/ON- CAMPUS RECRUITING 23% MSCF RESUME BOOK/ALUMNI 21% TREKS*/ CAREER FAIRS 3% SUMMER INTERNSHIP CONVERSION 30% * School-facilitated student visits to employers SELF SELF-DIRECTED JOB LEAD 20% SUMMER INTERNSHIP CONVERSION 3% 77% OF STUDENTS FOUND JOBS USING SCHOOL RESOURCES 3

4 FULL-TIME EMPLOYMENT FUNCTION, INDUSTRY, AND LOCATION SUMMARY 1% 2% 4% 24% 9% JOB FUNCTION 17% Sales & Trading 24% Strats & Modeling 23% Quant Developer 9% Data Science 4% Quant Research 20% Portfolio 2% 23% Risk 17% Consulting 1% 20% 1% 7% 40% 7% 8% INDUSTRY Investment Bank 40% Asset 19% FinTech 7% Hedge Fund 7% 12% Proprietary Trading 12% Other Financial Services 8% Consulting Other 1% 19% 1% 2% 62% 5% 12% 12% LOCATION 62% Chicago 12% Other 12% /Singapore San Francisco 5% 2% China 1% 92% OF STUDENTS SECURED FULL-TIME EMPLOYMENT IN THE US 4

5 DECEMBER 2016 GRADUATES FULL-TIME PARTNERS Employer Job Title Location Goldman Sachs (7) Bank of America Merrill Lynch (4) BlackRock (4) Bloomberg (4) Analyst Analyst Analyst - Equity Credit Quantitative Analysis IBD Strat Senior Analyst/Strategist Strat Associate Associate - Quantitative Strategies Equity Desk Quant Quantitative Investment Specialist Analyst Associate Quantitative Research Analyst Risk Analyst - Alternatives Model & Integration Testing Engineer (2) Senior Software Engineer Software Engineer Irving, TX San Francisco San Francisco Citi (4) Quantitative Analyst (4) JPMorgan Chase (4) Morgan Stanley (3) ITG (3) Associate - Linear Quantitative Research Associate Research Analyst Electronic Trading Analyst (2) Associate (2) Global Capital Market Strats Quantitative Analyst Quantitative Analyst - Liquidity Products Quantitative Researcher PNC (3) Bank Investment Risk Specialist (3) Pittsburgh Barclays (2) BNP Paribas (2) BNY Mellon (2) Credit Suisse (2) Deloitte (2) Ernst & Young (2) FX Options Trader Quantitative Analytics - Financial Modeling AVP Associate - Quantitative Research Analyst - Global Markets Quantitative Risk Analyst Analyst - Risk & Quantitative Analysis Quantitative Strategist Quantitative Trading Risk & Financial Advisory Complex Securities Consultant Complex Securities Consultant Senior Staff - Complex Securities Valuation Senior Associate Singapore Pittsburgh Pittsburgh Chicago Employer Job Title Location State Street (2) Transmarket Group (2) Financial Engineer Risk and Reporting Specialist - Sr. Associate Jr. Algorithmic Trader (2) Hangzhou, China Chicago AQR Capital Analyst - Risk Greenwich, CT Axioma Financial Quantitative Developer BMO Capital Markets Associate Capital One Risk Manager Capstone Junior Trader - Equity Derivatives Chicago Trading Company Citadel Investment Group Associate Financial Engineer Quantitative Research Analyst Chicago Chicago Continental Finance Data Scientist Newark, DE Deutsche Bank S&T Analyst DRW Trading Analyst Chicago Eagle Seven Trading Assistant Chicago Engineers Gate Trading Ops. Engineer Invesco Quantitative Analyst Jump Trading Quantitative Researcher Chicago Kaust IMC Laurion Capital Quantitative Analyst Quantitative Developer Washington, DC M Science Associate - Quantitative Research Macquarie Group Quantitative Analyst Mizuho Bank Analyst (3rd year) Nomura Global Markets Analyst Singapore Quantitative Brokers Quantitative Research Analyst Risk Premium Investment Quantitative Analyst RiskSpan Model Valuation Analyst Vienna, VA Seven Eight Capital Quantitative Trader Squarepoint Capital Quantitative Researcher (Options Desk) Sun Trading Quantitative Trader Chicago Sunrise Futures Senior Quantitative Associate Chicago UBER Data Scientist San Francisco UBS Analyst Vanguard Quantitative Research Analyst Malvern, PA Volant Trading Quantitative Strategist Weiss Multi-Strategy Advisers Associate Quantitative Analyst Xelay Acumen Analyst San Mateo, CA 5

6 INTERNSHIP INFORMATION DECEMBER 2016 GRADUATES INTERNED DURING SUMMER 2016 Total Seeking Internship Total Number Accepting Internship Total Percent Accepting Internship PERMANENT WORK AUTHORIZATION NON-PERMANENT WORK AUTHORIZATION % % TOTAL STUDENTS % SUMMER INTERNSHIP COMPENSATION MONTHLY* Mean Median Minimum Maximum Number of Students Reporting Salary Information ** BASE SALARY $6,363 $6,500 $375 $10, * Excludes guaranteed and non-guaranteed bonuses, relocation expenses, stock options, and any other additional compensation ** 97% of students who received an offer reported a base salary and 2% of students who received an offer reported a signing bonus 6

7 SOURCE OF SUMMER INTERNSHIP SCHOOL-FACILITATED JOB POSTINGS/ON- CAMPUS RECRUITING 48% MSCF RESUME BOOK/ALUMNI 23% TREKS*/ CAREER FAIRS 10% * School-facilitated student visits to employers SELF SELF-DIRECTED JOB LEAD 19% 81% OF STUDENTS FOUND INTERNSHIPS USING SCHOOL RESOURCES 7

8 SUMMER INTERNSHIP FUNCTION, INDUSTRY, AND LOCATION SUMMARY 5% 7% 27% 8% JOB FUNCTION 9% Sales & Trading 27% Strats & Modeling 24% Data Science 8% Quant Developer 7% Quant Research 20% Portfolio 5% Risk 9% 24% 20% 2% 39% 8% INDUSTRY 14% Investment Bank 39% Asset 25% Other Financial Services 14% FinTech 8% Hedge Fund Proprietary Trading Other 2% 25% 5% 42% LOCATION 13% 42% Chicago /Singapore 14% China Other 14% San Francisco 5% 14% 13% 14% 8

9 DECEMBER 2016 GRADUATES INTERNSHIP PARTNERS Employer Job Title Location Goldman Sachs (8) Citi (5) Bank of America Merrill Lynch (4) ITG (4) J.P. Morgan Chase (4) BNY Mellon (3) Fidelity (3) UBS (3) Controller Modeling Strat IBD Strats (2) Sales and Trading Summer Analyst (2) Strats Intern - GSAM Strats Summer Analyst Summer Analyst Securities Division Analyst - Quantitative Trading and Analysis Program (3) Sales and Trading Summer Analyst Summer Analyst Associate Equity Derivative Summer Analyst Global Quant Strategies Associate Quantitative Associate Program Financial Engineering Summer Analyst Intern - Algo Trading Team Research Liquidity Products Summer Quantitative Analyst Summer Analyst in Financial Engineering Analyst, Sales & Trading, E-Trading Associate, Quantitative Research Electronic Trading Summer Analyst Summer Analyst in Global Markets Graduate School Co-op Intern in Portfolio Risk Dept Graduate School Co-op Intern in Portfolio Risk Dept Model Validation Intern Analyst - Risk Quant Data Reseach Quantitative Reasearch Intern Equities S&T Intern S&T Analyst Summer Analyst Pittsburgh Shanghai Acadian (2) Investment Research Intern (2) Aflac (2) Athena Capital Research (2) Investment Risk Intern Summer Internship Quantitative Strategy & Research Quantitative Analyst Intern (2) BNP Paribas (2) Global Markets Summer Analyst (2) Capula (2) Continental Finance (2) Forex and Eq Deriv Intern Trading/Research Intern Data Scientist Intern (2) London Greenwich, CT Newark, DE Freddie Mac (2) Analyst Intern (2) McLean, VA Morgan Stanley (2) Junior Quant Analyst Quantitative Summer Analyst Employer Job Title Location PNC (2) Viziphi (2) Intern Special Project Bank Investment Risk Intern Summer Intern Summer Quantitative Developer/ Researcher Pittsburgh Pittsburgh 3i Capital Group Java Programmer Summer Intern AIG Quant Summer Analyst Attucks Asset Intern Chicago BlackRock Model Based Fixed Income Analyst San Francisco BMO Capital Markets Summer Associate Capital One Intern Credit Suisse Delaware Investments Summer Associate, Quantitative Strategies Equity Quant Research Analyst Philadelphia Deutsche Bank S&T Analyst DRW Trading Analyst Chicago Everbright Pramerica Fund Analyst - Market risk modeling Shanghai George Weiss Quant Associate Intern Guosen Securities Harvard Financial Engineer Summer Analyst Graduate Intern (Analytics) Shenzhen, China HuaTai Securities Financial Engineering Intern Beijing IMG Midstream Finance Analyst Pittsburgh Jump Trading Jump Labs Intern / Software Engineer Champaign, IL KIMC Investment Summer Fellow Washington, DC Kynex Quant Developer: C++ Fair Lawn, NJ Longqi Scientific Investment Moody's Quantitative Analyst Moody s Analytics Quantitative Research Hangzhou, China San Francisco Nomura Summer Analyst - Global Markets Singapore PanAgora Intern - Equity Research Pharmaceutical Product Development Quantitative Brokers Squarepoint Capital Quantitative Finance Analyst Intern Quantitative Research Intern Quantitative Trading Internship Wilmington, NC State Street Equities Quantitative Internship Sun Trading Trader Intern Chicago Transmarket Group Algortihmic Trader Chicago TrimTabs Investment Research Quantitative Developer Intern Sausalito, CA UBER Data Scientist - Strategic Finance San Francisco 9

10 Carnegie Mellon University is a small research university that cannot afford barriers between departments. We choose not to do everything. Yet, in those areas where we choose to compete, we are among MASTER OF SCIENCE IN COMPUTATIONAL FINANCE DEPARTMENT OF MATHEMATICAL SCIENCES DEPARTMENT OF STATISTICS & DATA SCIENCE HEINZ COLLEGE OF INFORMATION SYSTEMS AND PUBLIC POLICY TEPPER SCHOOL OF BUSINESS the world s best. STEVEN SHREVE Orion Hoch Professor of Mathematical Sciences Mellon College of Science MSCF Co-Founder MSCF Steering Committee CARNEGIE MELLON UNIVERSITY 5000 FORBES AVENUE PITTSBURGH, PA MASTERS ADMISSIONS OFFICE TEL: MSCF@CMU.EDU STATEMENT OF ASSURANCE Carnegie Mellon University does not discriminate in admission, employment, or administration of its programs or activities on the basis of race, color, national origin, sex, handicap or disability, age, sexual orientation, gender identity, religion, creed, ancestry, belief, veteran status, or genetic information. Furthermore, Carnegie Mellon University does not discriminate and is required not to discriminate in violation of federal, state, or local laws or executive orders. Inquiries concerning the application of and compliance with this statement should be directed to the university ombudsman, Carnegie Mellon University, 5000 Forbes Avenue, Pittsburgh, PA 15213, telephone Obtain general information about Carnegie Mellon University by calling

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