Financial Engineering Master's Program
Program Details
Degree
Master of ScienceSchool
School of BusinessDepartment
School of Business Graduate ProgramAvailable
On Campus & OnlineBring a quantitative approach to the complex technical challenges facing the finance industry, ensuring you can create value throughout your career.
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Program Highlights
The Confluence of Math and Business: The Financial Engineering program originated in Stevens’ mathematics department and continues to uphold a high standard of mathematical rigor. With its relocation in 2018, our graduates have become even more valuable employees. By also being fluent in the language of business they can identify new opportunities and drive more strategic decision-making.
Customizable Program: Students can tailor this program to their career goals and pursue a specialization in investment banking and valuation, financial analytics and risk, wealth management or certified financial planning. Our courses and curriculum are constantly updated to ensure the most relevant skills and information are taught.
Wall Street Tools: Students gain hands-on experience with the latest technologies used by Wall Street firms and global financial institutions, providing them with a competitive edge in the job market. The program's emphasis on practical application ensures seamless integration into dynamic finance roles.
The Heart of Global Finance: Located so close to the financial capital of the world, New York City, Stevens provides students with unparalleled access to industry leaders, networking events and real-world finance experiences. Our strategic location offers a competitive advantage for students seeking to launch successful careers in the heart of global finance.
Forging the Future of Fintech: A collaboration between Stevens and Rensselaer Institute of Technology (RPI), The Center for Research toward Advancing Financial Technologies (CRAFT) was the first fintech-focused Industry University Cooperative Research Center (IUCRC) funded by the National Science Foundation. The Center offers students an amazing opportunity to delve into research in the rapidly evolving world of financial technology and to network with other academics and industry professionals.
Meta-Learning for a Competitive Edge: Develop invaluable meta-learning skills through our innovative curriculum, including the FE800 course, which fosters research abilities, communication prowess and interest in result-oriented techniques. By mastering the art of breaking down complex issues swiftly to create data-driven solutions, and gaining insights into thinking processes, attitudes, motivation, and decision-making contexts, you'll cultivate a meta-learning mindset that has become increasingly crucial in the digital era.
GMAT/GRE test scores are optional for all master’s programs except MBA. Applicants who think that their test scores reflect their potential for success in graduate school may submit scores for consideration.
Preparing the Next Generation of Financial Leaders
The finance world's rapid transition to a digital discipline has created incredible opportunities for experts in computer science, statistics, economics and mathematics to develop solutions to increasingly complex problems, such as how to value an asset, how to assess risk and the smartest ways to manage a portfolio. Quants are some of the most sought-after professionals on Wall Street for their coding versatility and ability to model financial data to drive better decision-making.
The Financial Engineering program at Stevens resides in the School of Business, giving it a practical orientation that few other programs offer. Lessons emphasize how technical tools can address specific challenges in the markets, while preparing you to identify inefficiencies, recognize opportunities and develop innovative new products. The Stevens program also recognizes the systemic nature of financial markets and prepares you for the challenges of working in large, interconnected environments.
The Financial Engineering program at the School of Business ranked #19 in QuantNet's 2024 Best Financial Engineering Masters programs in the United States. Our program also has the lowest private university tuition cost and is one of the lowest overall tuition, making it an affordable investment in your future. The 2024 QuantNet ranking is the most authoritative and comprehensive ranking of best Financial Engineering programs in the United States.
The Financial Engineering master's program at Stevens is available on campus or fully online.
Capstone Experience
No graduate business education is complete without an opportunity to apply what you've learned on a project of consequence. At Stevens, that takes many forms — a consulting assignment with an industry partner, a research project that addresses an industry need, even the chance to nurture your own entrepreneurial venture — and is customized for you, your education and your career aspirations.
Financial Engineering Careers
Derivative Analyst
Complex Securities Manager
Credit Algorithmic Quant
Credit Analyst
Quant Risk Analyst
EFX Trader
Options Surveillance Analyst
Quant Developer
Algorithmic Trading Modeler
Desk Strategist
Organizations hiring Financial Engineering graduates include companies such as: Bank of America, Citadel, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, UBS, Capital One, Deloitte, Intuit, Metlife, New York Life Insurance Company, New York Stock Exchange and more.
Admission Criteria
The master’s in Financial Engineering offers professionals a cutting-edge blend of applied mathematics, computational techniques and statistical analyses, combined with basic financial and economic theory. Because of the highly technical nature of a financial engineer's work, students are required to have an academic or professional background that prepares them to excel in such an environment.
Application Deadlines
APPLICANT | FALL | SPRING | SUMMER (Domestic Applicants Only) |
|---|---|---|---|
Master's Full-Time | April 15 | November 1 | May 1 |
Master's Part-Time | August 15 | January 1 | May 1 |
Graduate programs admit students on a "rolling" basis, meaning that students may still apply after the preferred deadlines.
Students requiring an F1 Visa are strongly encouraged to apply by the preferred deadlines to allow time for visa processing.
Core Curriculum
The quantitative and systems-intensive perspective of the master's program prepares students to use financial engineering techniques to solve problems in securities valuation, risk management, portfolio structuring and regulatory concerns, with an emphasis on stochastic modeling, optimization and simulation techniques. The 30-credit degree includes six required courses that emphasize quantitative finance, financial services analytics, financial risk and regulation, and financial systems. As part of the degree, students are encouraged to take an integrated four-course certificate that allows for additional expertise in a particular discipline of their choosing.
Electives & Certificates
In addition to the six core courses above, students need to complete four additional elective classes for a total of 12 credits. Those 12 credits may be any courses the advisor approves. In particular, students may choose to complete the elective courses from one of the following graduate certificate programs. This would allow students to graduate with a master’s degree and a graduate certificate at the same time.
Meet the Program Director
Dr. Emmanuel Hatzakis director of the Finance and Financial Engineering programs, joined Stevens School of Business after a long career at Bank of America, UBS, Goldman Sachs and Merrill Lynch. His teaching curriculum focuses on wealth management, financial derivatives and fintech. He has a master's and Ph.D. from the Wharton School of the University of Pennsylvania.
Interested in hearing more about the program? You are invited to join the following information sessions:
September 26, 2024 - 9 to 10 a.m.
October 10, 2024 - 9 to 10 a.m.
October 24, 2024 - 9 to 10 a.m.
November 7, 2024 - 9 to 10 a.m.
November 21, 2024 - 9 to 10 a.m.
December 5, 2024 - 9 to 10 a.m.
December 19, 2024 - 9 to 10 a.m.
M.S. in Financial Engineering: Facts & Figures
[The Stevens Financial Engineering program] gives you hands-on practice in what the industry expects. If you stick with the curriculum, you are well-positioned to find a job or make an impact in your work because all the subjects that we study are very much in sync with what companies need.
Darsh Sharma '24
[Stevens] definitely helped me get my current role today. I switched jobs midway through the program, and it helped open doors.
Jeff Bulick '23
'23, M.S. Financial Engineering
[The Stevens Financial Engineering program] gives you hands-on practice in what the industry expects. If you stick with the curriculum, you are well-positioned to find a job or make an impact in your work because all the subjects that we study are very much in sync with what companies need.
Darsh Sharma '24
[Stevens] definitely helped me get my current role today. I switched jobs midway through the program, and it helped open doors.
Jeff Bulick '23
'23, M.S. Financial Engineering