Robert Hegarty
Traders Magazine Online News

Reinventing Trading Venues: How AI Can Help Create a More Efficient Market

In this whitepaper shared with Traders Magazine, the Hegarty Group examines how artificial intelligence and machine learning can help traders execute more efficiently.

Traders Poll

If Members Exchange (MEMX) gets SEC approval and launches, do you think it will force downward pressure on market data fees?

Free Site Registration

April 1, 2014

Top 10 Trading Schools

By Phil Albinus and Maggie Patrick

PROFESSIONAL PLACEMENT: Cornell aims for 100 percent placement of its graduates. The program includes a career boot camp held in August one week before the start of the fall semester.



Harvard Business School Cambridge, Mass.

APPLIED/ACCEPTED: 9,315 applied/932 accepted (120%)

PROGRAM TERM: Traditional 2 two-year MBA program.

CLASS SIZE: Not available

PROGRAM DESCRIPTION: Harvard Business School consists of case-method learning and a hands-on Field Immersion Experiences for Leadership Development (FIELD) course that aims to put leadership into practice via teamwork, personal reflection, global immersions, and hands-on experience in designing and launching a microbusiness. After a first semester of required courses, the second semester includes launching a mircrobusiness; the third is composed of electives that allow students the flexibility to concentrate their MBA in a particular interest; and the fourth semester, students can cross-register at MIT Sloan and other graduate schools at Harvard.

PROGRAM HIGHLIGHTS: Harvard Business School claims to have "unparalleled" resources and alumni networking possibilities. The Finance unit within HBS, along with access to MIT's curriculum, offers the chance to focus on mathematical finance within the business program.

PROGRAM DIRECTOR: Benjamin C. Esty heads the finance unit. Nitin Nohria is the dean of the business school and the author of 16 books, including "In Their Time: The Greatest Business Leaders of the 20thth Century."

PROFESSIONAL PLACEMENT: In the last three years, hiring within three months of graduation has wavered between 87 and 93 percent. Graduates seeking finance positions make up 35 percent of the graduating class, and the median starting salary for finance practitioners is $125,000.



MIT/Sloan School of Business Cambridge, Mass.


APPLIED/ACCEPTED: 1,583 applied /127 enrolled (8%)


PROGRAM DESCRIPTION: The Master's in Finance is a single-year program that begins with a summer intensive in finance theory and corporate accounting, and is followed by collaborative projects that focus on solving real-world problems. The MIT/Sloan program prides itself on allowing students to pursue their own interests within its academic environment.

PROGRAM HIGHLIGHTS: MIT prides itself as a pioneer in the field of finance and quant trading. The precursor to the program, the MIT Sloan Finance Group, was founded in the late 1960s, and its professors and graduates are a who's of financial giants: Fischer Black, John Cox, Robert Merton, Franco Modigliani, Stewart Myers, and Myron Scholes. The program boasts such financial economic innovations as the Black-Scholes/Merton option-pricing model; the Modigliani-Miller theorems; continuous-time models of consumption and portfolio choice; applications of option-pricing theory to real investments, corporate finance, and other real options; equilibrium models of the term structure of interest rates; binomial option-pricing; and the risk-neutral pricing kernel for pricing derivative securities.

PROGRAM DIRECTOR: Heidi Pickett. She notes that last year's class included students interested in "non-traditional roles" in the public sector and in entrepreneurial organizations, where they will leverage their foundation in finance. "What is interesting about our class is that five central banks and two sovereign wealth funds are sponsoring their top talent for our program," she said.

PROFESSIONAL PLACEMENT: In the last two years, graduates have been placed at A.T. Kearney, Applied Predictive Technologies, Bank of America Merrill Lynch, BlackRock, Boston Consulting Group, CITI, Credit Suisse, Deloitte, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Oliver Wyman, State Street and UBS.