A master’s in financial engineering is a relevant and necessary qualification, especially in a globe where the demand for financial gurus is on demand. Graduates earn a starting salary of $72,600 on average within three months of graduation.
What Can I Do with a Masters in Financial Engineering?
Companies are looking for job candidates who possess the following four features
Top 5 Masters in Financial Engineering
|1||Stanford University||Stanford, California|
|2||Stevens Institute of Technology||Hoboken, New Jersey|
|3||University of Chicago||Chicago, Illinois|
|4||Rensselaer Polytechnic Institute||Troy, New York|
|5||Boston University||Boston, Massachusetts|
- A solid understanding of the financial markets and complex economic structures, trading strategies, and derivatives.
- Highly developed financial mathematical modeling skills and knowledge of advanced probability, statistics, stochastic processes, and time series analysis.
- Financial data modeling knowledge in the fast-growing financial services analytics field, including creating data-driven decision-making analytic resources for the financial services industry.
- Expertise in programming languages like C++, C#, Python, Java, and other computational skills related to data visualization, big data, parallel computing, and databases.
Following are career jobs you may pursue after earning your engineering degree program.
- financial analyst
- credit risk specialist
- financial controller
- quantitative risk analyst
- private equity analyst
- modeling expert
- finance portfolio manager
- commercial and investment banking consultant
Now, let’s look at the schools with the best masters in financial engineering.
Best 17 Masters in Financial Engineering
With the graduation of 94 percent of students, Stanford University offers a Master’s of Science in Mathematical and Computational Finance. The U.S has ranked it the top tier of finance engineering mathematics programs. SU’s candidates will acquire a wide array of skills, including risk measures, pricing and hedging theories, financial models, etc. After graduation, they can secure employment in the financial industry as data and information scientists, quantitative strategists, risk managers, and more. We ranked SU No.1 as the best college with a comprehensive master’s degree and undergraduates with the highest expected annual salary.
Stevens Institute of Technology
Stevens Institute of Technology, located in Hoboken, New Jersey, offers a Masters in Financial Engineering- a two-year program. SIT’s master’s equips students with the skills to solve the financial challenges that organizations face. Graduates will obtain knowledge about economic systems and procedures, enabling them to structure financial products and markets. At SIT, they’ll also work with industry partners to carry out practical research and apply what they’ve learned in entrepreneurship. They’re also taught by finance faculty who bring their tech-infused study and industry experience into the classroom. Studied online, graduates can complete the degree program in two years. SIT is No. 2 as the best college granting a master’s in financial engineering.
University of Chicago
The University of Chicago, offers a Master of Science in Financial Mathematics, specializing in pricing methods based on financial mathematics. The school’s candidates will be taught by industry professionals, who bring their wealth of experience and knowledge into the lessons, alongside renowned faculty from the Department of Mathematics. Additionally, the FinMath program can be taken full-time, over the course of 15 months, or part-time for 2-3 years. Evening courses accommodate part-time students and the program features dedicated academic advising and Career Development offices, exclusively for FinMath students. Over 90% of graduates are employed within 3 months after graduation in a variety of quantitative roles at banks, asset management companies, trading firms, and other financial organizations. We ranked UC as No. 3 as the best school granting a graduate-level degree in financial mathematics.
Rensselaer Polytechnic Institute
The Lally School’s M.S. in Quantitative Finance & Risk Analytics (QFRA), is a one year program that provides you with a deep understanding of the cutting-edge theory and advanced analytical techniques required to establish your career in this dynamic and highly rewarding industry. As a member of the QFRA program you will study emerging practices, conduct empirical research and construct computational models, and have the opportunity to customize your knowledge with a concentration in quantitative finance, risk analytics, or a generalist track. QFRA students also receive mentoring from ongoing interactions with a highly engaged advisory board of executives. Succeed with a career as a financial analyst, credit risk specialist, financial controller, quantitative risk analyst, private equity analyst, modeling expert, finance portfolio manager, commercial and investment banking consultant, among others. The program has been enhanced with new courses in Artificial Intelligence and Machine Learning in Finance, Data Science, and Quantitative Asset Management amongst others. The program is taught by several accomplished faculty who conduct research in AI/ML in the Finance industry.
Through its Questrom School of Business, Boston University advances a Master’s of Science in Mathematical Finance and Financial Technology (MSMFT). Designed for students with the determination to excel, BU’s master’s focus on quantitative finance, financial technology, data analysis, and much more. Well-renowned authorities will guide graduates in the subject areas. Furthermore, students need 39 credits to complete the degree program, a total of 17 months. BU is No. 5 as the best university with a solid master’s degree program.
New York University
Through its Tandon School of Engineering, New York University grants an M.S. in Financial Engineering. Its degree is geared towards foundational knowledge in financial mathematics. With this knowledge, graduates can carry out risk finance roles, financial IT, and algorithmic trading on Big Data. They can also select courses in corporate finance and financial markets, risks finance, etc. NYU is No. 6 as the best school with a robust curriculum in financial mathematics.
Princeton University’s Graduate School offers a Masters in Operations Research and Financial Mathematics- a two-year degree program (ORFE). Emphasizing mathematics, it equips students with a unique set of skills in statistics and more. PU’s graduates can proceed to the Doctor of Philosophy (Ph.D.) in Operations Research and Financial Engineering after completing the masters. Additionally, the graduate school is in partnership with the Bendheim Center of Finance to provide a strong and relevant curriculum.
Fordham University grants a Masters’s program in Quantitative Finance through its Gabelli School of Business (MSQF). The field of data and measurable results seek to develop skills in fixed income and interest modeling, fintech and blockchain, etc. After completing the masters, candidates land jobs in some of the reputable financial organizations. Furthermore, at FU, they’ll connect with the world’s top experts in quantitative finance to deepen their understanding of the degree program and gain hands-on experience. We ranked FU as eight of the best colleges with diverse masters in financial engineering.
Rutgers Business School at Rutgers University grants a one-year Masters in Quantitative Finance. Its degree program blends financial intelligence with comprehensive business knowledge. Upon graduation, students will be skilled to handle jobs requiring math, statistics, and financial knowledge in the quantitative finance field. RU is No. 9 as the best college with a master’s emphasizing business knowledge.
University of California, Berkeley
The University of California’s Masters in Financial Mathematics is a one -year post-undergraduate degree program. With its graduate-level degree, students can launch a career in finance, data science, technology, etc. Additionally, candidates will gain skills, insights, and hands-on experience from a committed and knowledgeable faculty. They’ll connect with top firms and also acquire industry on-demand experience, making them competent. UCB’s degree program involves a 10–12-week internship industry project or independent study. Graduates are also assured of job placement as the college has consistently placed 100 percent of students each year. UCB is No. 10 as the best school with a well-rounded curriculum.
University of Maryland
Through Robert. H. Smith School of Business, the University of Maryland offers a one-year M.S. in Quantitative Finance (MQF). Its program emphasizes quantitative, technology, and problem-solving skills to enable students to make strategic financial decisions for companies. Taught by talented expert faculty, candidates also obtain data and management and global skills. They’ll be inspired and challenged by a community of talented peers from diverse backgrounds. UM’s candidates will also learn to solve complex financial challenges for real firms.
University of Dayton
The University of Dayton’s College of Arts and Sciences grants a Master of Financial mathematics. It gives students several concentrations in business, computers, sciences, and engineering. Furthermore, they’ll have a solid understanding of statistical analysis and more. University of Dayton provides its graduates with a personalized study plan to meet their needs and career goals. We ranked University of Dayton No. 12 as the best school with a master’s in financial mathematics.
University of Texas at Dallas
Naveen Jindal School of Management at the University of Texas, Dallas, offers a Master of Finance in Financial Technology and Analytics (Financial Engineering and Risk management). Delivered full-time or part-time, it takes one year to complete. UT’s degree program provides the most current and vital technologies, leading to competent candidates. Students with or without a previous educational background in finance can still enroll in the master’s program to cope with financial mathematics. Upon graduation, UT’s will be successful fintech professionals. UT is No. 13 as the best college granting a strong master’s curriculum.
University of Minnesota
Graduating 80 percent of its students, the University of Minnesota grants M.S. in Financial Mathematics, which seeks to prepare graduates for the high paying and exciting quantitative financial field. Top-notch lectures with quantitative industry experience will teach UM’s students. Furthermore, at UM, they’ll get career guidance from their career advisor on the best jobs that fit their unique interests. After graduation, students can expect a 100 percent job placement coordinated by the college.
Florida State University
Florida State University, graduating 83 percent of its students, offers a Masters in Financial Mathematics, which focuses on skills, such as economics, statistics, etc. Candidates will also gain valuable experience from industry professionals and alumni who visit the college each spring to participate in a two-day Financial Math Quant Symposium. Upon completion, they can qualify for jobs in the industry and government as lecturers and in academia. Candidates can also earn the degree as a terminal degree or en route to a Ph.D. We ranked FSU No.15 as the best school, offering a rigorous curriculum.
Oklahoma State University
Graduating 10 percent of students, Oklahoma State University advances a Masters in Quantitative Financial Economics. The Master’s program is grounded in financial economics and prepares students to become financial managers. Furthermore, the 33-hour credit program allows graduates to design their study plans according to an area of specialization they’re interested in. After completing the master’s program, students can pursue a career in energy, financial services, risk measurement, management, and investment management. They can also take as little as one year to finish fulfilling the master’s requirements.
Hofstra University advances a 2-year Master of Science in Quantitative Finance through its Department of Finance. Students with a quantitative finance background can apply for admission into the program. In this program, they’ll also analyze and develop quantitative solutions to solve current financial problems. HU also encourages its candidates to participate in the Bloomberg Essentials before they complete their degree program. However, this task is non-examined and is not part of the requirement to complete their masters. HU is No. 17 as the best college offering a master’s in financial engineering.
In our ranking of schools granting a master’s in financial engineering, we considered the annual expected salary of undergraduates at each college and the degree program’s qualitative nature. If a college, for example, has the highest expected annual salary for its graduates, it may indicate the value that profit and nonprofit organizations place on the school’s programs and its students. In our case, Stanford University is at the top of the list because its undergraduates may expect to earn approximately $70,000 annually.
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