Thanks in part to efforts by Haas staff and fellow classmates, the entire 2013 class of the Berkeley Master of Financial Engineering (MFE) Program has been placed in internships around the world.
The winter internships, which run from mid-October to mid-January, are giving the school's 66 MFE students the opportunity to apply theory learned in the classroom to real-world situations and challenges within top financial firms.
MFE Executive Director Linda Kreitzman works virtually around the clock to ensure every student lands an internship. MFE students also help each other with advice on cover letters and interviewing.
Andrew Alden (pictured right), for instance, helped several classmates with interviewing techniques and cover letter writing.
"Despite our class being very competitive, when it comes to finding jobs and internships, I've been very pleasantly surprised that the atmosphere is very collaborative. Students really do support each other," says Alden. "I have helped a few people with the cover letters, especially students who are not from the U.S. I've also helped advise people on how to interview better."
Alden has a successful track record with both cover letters and interviews: Before coming to Berkeley to earn an MFE, he spent five years working in finance in the Bay Area and Chicago. Alden, who grew up in Canada, is currently working in Toronto as an intern with CPP Investment Board, which manages the $165.8 billion Canada Pension Plan.
Nearly half of the MFE class—31 students—landed internships in NY, the largest number in a single location. The companies hiring the most MFE students as interns this year were Blackrock (6 interns), Morgan Stanley (5), Standard & Poor's (5), Citi (4), Moody’s (4), and RBC (4). Other firms where students are gaining hands-on learning include BNP Paribas, Tudor Investments, CalPERS, and Goldman Sachs.
A few students are working in Asia, for Goldman Sachs and Credit Suisse.
MFE interns are earning an average $7,500 per month.