Wednesday, November 27, 2019

Top Masters Programs for Financial Engineering

Top Masters Programs for Financial EngineeringTop Masters Programs for Financial EngineeringAs the role of the so-called quant has grown in importance within Wall Street firms and the broader financial services industry, a new academic specialty has developed in its wake. Degrees in financial engineering, mathematical finance, financial mathematics, quantitative finance, or computational finance,as this new discipline is variously known, are being awarded by an increasing number of universities. For the prospective quant, this presents an alternative to obtaining a Master in Business Administration (MBA) in addition to a degree in engineering, mathematics, physics, or other highly quantitative field. The 2019 partikelNet Ranking The Quant Networkis based in New York City and focuses on financial engineering education and career resources for so-called quants. It boasts 50,000 community members. QuantNet rated a preselected group of 38 North American masters degree programs in fin ancial engineering (MFE) from September to October 2018. Factors used to rank the programs were Frequency with which employers interviewed or hired graduatesStarting salariesStudent to administrator ratioEmployment rate at graduationEmployment rate three months after graduationAverage GRE quantitative scores of studentsAverage undergraduate GPA of studentsPercentage of applicants accepted The latter three measures indicate the selectivity of the program. The more selective, the higher the program ranks. Caveats With the QuantNet Ranking The ranking started out with a preselected list of 38 masters in financial engineering. mathematical finance, and quantitative finance programs. Data from the schools were not independently audited. Surveys of employers went to a select list, of which 33 responded and 27 provided the information needed to calculate the rankings. The survey favors programs with fewer students per administrator, though the supposed benefit gained by the student fro m this cost-increasing factor is not described. Finally, as with any degree program,attendance at any institution is no guarantee that the degree holder will obtain a suitable job in the field. Key to the Rankings Following the institutions name is its location, the name of the degree awarded, the tuition cost, whether full-time (FT) or part-time (PT) study is offered, and the length of the program in years. Princeton UniversityPrinceton, NJMaster in Finance$102,500 (2 years)FT2 yearsBaruch College, City University of New YorkNew York, NYFinancial Engineering$42,395 (non-resident) $28,670 (resident)FT/PT1.5 yearsUniversity of California, BerkeleyBerkeley, CAFinancial Engineering$70,796FT1 yearCarnegie Mellon UniversityPittsburgh, PAComputational Finance$86,339FT2 yearsColumbia UniversityNew York, NYFinancial Engineering$72,648FT1 yearNew York UniversityNew York, NYMathematics and Finance$72,000FT/PT1.5 years Cornell UniversityIthaca, NYMEng, FE concentration$78,000FT1.5 yearsCol umbia UniversityNew York, NYMathematics and Finance$72,505FT/PT1 yearMassachusetts Institute of TechnologyCambridge, MAMaster of Finance$78,312 (12 months) $105,968 (18 months)FT1 year NYU Tandon School of EngineeringNew York, NYFinancial Engineering$63,403FT1 yearUniversity of California, Los AngelesLos Angeles, CAFinancial Engineering$75,816FT1 yearUniversity of ChicagoChicago, ILFinancial Mathematics$79,412 or $85,985 based on placementFT/PT1 year Georgia Institute of TechnologyAtlanta, GAQuantitative and Computational Finance$61,135 (nonresident) $29,989 (resident)FT/PT1.5 yearsBoston UniversityBoston, MAMathematical Finance$79,224FT1.5 yearsFordham UniversityBronx, NYQuantitative Finance$60,000FT1 yearNorth Carolina State UniversityRaleigh, NCFinancial Mathematics$56,974 (non-resident) $32,112 (resident)FT2 yearsUniversity of WashingtonSeattle, WAComputational Finance Risk Management$40,950 (42 credits) $52,650 (54 credits)FT/PT1.5 years Rutgers UniversityNewark, NJQuantitativ e Finance$61,532 (non-resident) $40,383 (resident)FT1.5 yearsIllinois Institute of TechnologyChicago, ILMathematical Finance$59,376FT2 yearsRutgers UniversityNew Brunswick, NJMathematical Finance$57,100 (non-resident) $33,262 (resident)FT/PT1.5 yearsJohns Hopkins UniversityBaltimore, MDFinancial Mathematics$80,610FT1.5 yearsUniversity of IllinoisUrbana, ILFinancial Engineering$74,500FT1.5 yearUniversity of MinnesotaMinneapolis, MNFinancial Mathematics$40, 224 (non-resident) $32,128 (resident)FT/PT1 year Stevens Institute of TechnologyHoboken, NJFinancial Engineering$47,270FT/PT1 yearRensselaer Polytechnic InstituteTroy, NYQuantitative Finance and Risk Analytics$55,440FT1 yearUniversity of North Carolina at CharlotteCharlotte, NCMathematical Finance$40,505 (non-resident) $20,354 (resident)FT/PT1 yearClaremont Graduate UniversityClaremont, CAFinancial Engineering$77,600FT1.5 years

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