Singapore Management University (SMU) introduced an innovative pathway for business students specialising in Quantitative Finance (QF) - a fast-track programme leading to a Master of Science (MSc) in Quantitative Finance (MQF). Launched in 2023, this innovative pathway enables students to earn both a Bachelor of Business Management (BBM) and an MSc degree within a short span of four years. In July 2024, the pioneers of this fast track, Cheong Boon Yang and Joel Toh Zi Yan, graduated with stellar credentials.
“We never aced mathematics at A levels,” said both graduates unanimously.
For both Boon Yang and Joel, their path to Quantitative Finance was not preordained. Despite not excelling in the subject in their pre-university days, both Boon Yang and Joel were intrigued by Quantitative Finance during their second year in the BBM programme with SMU Lee Kong Chian School of Business (LKCSB).
An accelerated programme allowing students to complete their undergraduate and graduate degrees at the same time, the BBM-MQF gives graduates a well-honed competitive edge for careers in quantitative finance.
Quantitative finance merges theoretical foundations with practical methods and tools, allowing professionals to analyse financial data and make well-informed decisions regarding investment strategies and risk management.
As the financial world continues to grow in complexity, QF has become instrumental for analysing and navigating the evolving landscape. Graduates with strong quantitative skills are well positioned for promising career opportunities in the financial industry.
Within this context, the fast-track BBM-MQF programme is designed to offer students the flexibility and skills needed to thrive in their careers. This exceptional opportunity was developed based on insights gathered from Bachelor’s and Master’s quantitative finance graduates over the years through continuous dialogue, as well as consultation with stakeholders on the practical needs of industry.
On why he had decided to take up the BBM-MQF fast track, Boon Yang commented: “One of the main reasons is the savings in terms of time. You do not have to take a year off before enrolling in a masters’ programme. Instead, you can complete both the Bachelors and Masters in four years. I liked how the courses were structured for the three core modules and how the professors guided us through the content. The fact that I performed well was also a great motivation."
Likewise, Joel held positive sentiments about his experience, emphasising the appeal of the objectivity in Quantitative Finance coursework. "I found that the coursework was less subjective compared to other management modules. I also found coding cool. It’s a way to express my logical thinking in mathematics, and it’s fun to see the numbers roll on the computer screen."
Boon Yang and Joel were pioneers of the programme in every sense of the word, being the only two who elected to join the fast track in 2023. Joel shared that there were likely only two of them in the programme because the cohort of Quantitative Finance majors is relatively small, with some students in their third year of undergraduate studies already having secured job offers. The cost of a masters’ programme was also a likely consideration.
Unfazed by the prospect of being in the inaugural batch, Boon Yang and Joel developed various techniques to cope with an accelerated programme that demanded a high level of dedication.
"We’ve had to sacrifice sleep, cut down on weekend plans with friends and family to study, revise, and catch up with project work," they shared.
Joel added that he maintained a strict study regimen, limiting social outings to once a week to focus on academics. He pointed out the importance of adaptability, especially when working with international peers with diverse work styles. "While the programme focuses on ‘quant’ skills, soft skills like class participation and presentations are still needed."
Stressing the importance of time management and preparation, Boon Yang commented, "Prioritise and manage your time wisely. It’s also helpful to brush up on basic Python programming, linear algebra, and calculus prior to the programme. While it can be intense, remember to keep applying for jobs as the hiring cycle starts."
An important tip from Joel to students aspiring to take up the BBM-MQF fast track is that whilst studying for the programme, they should also be proactive in securing employment opportunities.
Commenting on the competitive edge that the BBM-MQF offered to graduates, Professor Tee Chyng Wen, Academic Director of the MSc in Quantitative Finance (MQF) programme said: “Students generally expect a broad-based, holistic educational experience when it comes to undergraduate studies. On the other hand, when pursuing a master’s degree, the objective is usually to study in-depth in a technical area to obtain specialised skillsets. We combine the best of both worlds in this fast-track programme, allowing students to have exposure to both types of learning experiences and graduate within the same duration it takes to complete a bachelor’s degree.”