Masters (MS) in Financial Engineering

Overview

A Master of Science (MS) degree in Financial Engineering is a graduate-level degree program to prepare students for careers in the financial industry. The program typically covers mathematical finance, financial modelling, and risk management. Students also learn how to apply these concepts to real-world problems.

Why Study Master (MS) in Financial Engineering Abroad?

There are many reasons to study an MS in Financial Engineering abroad. Here are a few of the most common reasons:

To gain a global perspective on finance.
To learn from top experts in the field.
To network with other students and professionals from around the world.
To experience a new culture and lifestyle.
To improve your chances of getting a job in the financial industry.

Course Structure

The course structure of an MS in Financial Engineering program varies between different universities. However, most programs will include the following topics:

Mathematical Finance
Financial modelling
Risk management
Derivatives pricing
Portfolio management
Investments
Quantitative methods
Programming
Data analysis

Course Subjects

Here are some of the specific course subjects that you may encounter in an MS in Financial Engineering program:

Linear algebra
Calculus
Differential equations
Probability theory
Statistics
Numerical methods
Optimization
Computer programming
Data mining
Machine learning

Course Duration

The course duration for a Masters (MS) in Financial Engineering abroad typically ranges from one to two years, depending on the specific program and university. The majority of programs are designed to be completed in one year, while some may offer the option to extend the study period to two years.

Here’s a breakdown of the course duration for MS in Financial Engineering programs in different regions:

North America: Typically one year, with some programs offering a two-year option
Europe: Most programs are one year, with a few offering two-year options
Asia: Course duration varies more widely, with programs ranging from one to two years
Australia: Typically one and a half years

Top Specializations

There are many different specializations available in MS in Financial Engineering programs. Some of the most popular specializations include:

Quantitative Finance
Financial modelling
Risk management
Derivatives pricing
Portfolio management
Investments
Data science
Machine learning
Artificial intelligence

Admission Process

The admission requirements for an MS in Financial Engineering program vary from university to university. However, most programs will require the following:

A bachelor’s degree in a related field, such as mathematics, statistics, or engineering.
A good GRE or GMAT score.
Strong academic transcripts.
Letters of recommendation.
A personal statement.

Documents Required to Apply for Admission

The documents required to apply for admission to an MS in Financial Engineering program will vary from university to university. However, some of the most common documents include:

Application form
Official transcripts
GRE or GMAT scores
Letters of recommendation
Personal statement
Resume

Language Proficiency Score Requirements

If you are not a native English speaker, you must demonstrate your English proficiency to be admitted to an MS in Financial Engineering program. The most common English language proficiency tests are the IELTS, TOEFL, PTE, and Duolingo.

Sure, here are the language proficiency score requirements for the Master of Science (MS) in Financial Engineering program abroad:

TOEFL: 80-100
IELTS: 6.0-7.5
PTE: 50-59
Duolingo: 100-120

These scores are required to demonstrate that you have the English language proficiency necessary to succeed in the program. The specific score requirements may vary depending on the university, so it is important to check with the program you are interested in.

Cost of Studying

The cost of studying for an MS in Financial Engineering abroad will vary depending on the university and the country. However, you can expect to pay an average of $50,000 to $100,000 annually.

Cost of living and other expenses

The cost of living and other expenses will also vary depending on the city and country. However, you can expect an average cost of $10,000 to $20,000 per year on living expenses.

Top Scholarships

Many scholarships are available for students who want to study an MS in Financial Engineering abroad. Some of the most popular scholarships include:

Here are some of the top scholarships for MS in Financial Engineering abroad, with the scholarship amount offered:

Orange Knowledge Programme Netherlands: The Dutch government offers this scholarship to fund master’s programs in the Netherlands. The scholarship manages tuition fees, living expenses, and travel costs. The scholarship amount depends on the program and the city of study.
Fulbright Foreign Student Scholarship Program USA: The US government offers this scholarship to fund master’s programs in the United States. The scholarship manages tuition fees, living expenses, and travel costs. The amount of the scholarship depends on the program and the university.
New Zealand Aid Programme Scholarships for International Students: The New Zealand government offers this scholarship to fund master’s programs in New Zealand. The scholarship manages tuition fees, living expenses, and travel costs. The amount of the scholarship depends on the program and the university.
Australia Awards Scholarships for International Students: The Australian government offers this scholarship to fund master’s programs in Australia. The scholarship manages tuition fees, living expenses, and travel costs. The amount of the scholarship depends on the program and the university.
Global Korea Scholarship – Funded by the Korean Government: This scholarship is offered by the Korean government to fund master’s programs in South Korea. The scholarship manages tuition fees, living expenses, and travel costs. The amount of the scholarship depends on the program and the university.

Popular jobs with annual salaries

Some of the most popular jobs for graduates with an MS in Financial Engineering include:

Quantitative Analyst: They basically use mathematical and statistical models to analyze financial data and help make investment decisions. They typically work for investment banks, hedge funds, and other financial institutions. A quantitative analyst’s average annual salary is $150,000.
Derivative Trader: Derivative traders buy and sell financial derivatives, such as options and futures contracts. They use their knowledge of financial markets and mathematical modelling to profit from changes in the prices of these securities. The average annual salary for a derivative trader is $140,000.
Portfolio Manager: Portfolio managers oversee the investment of funds for individuals, institutions, or businesses. They use their financial expertise to select and manage a portfolio of securities that meets the client’s investment goals. A portfolio manager’s average annual salary is $130,000.
Risk Analyst: Risk analysts assess the risks associated with financial investments and trading strategies. They use their knowledge of statistics and financial modeling to identify and quantify risks, and to develop strategies to mitigate those risks. A risk analyst’s average annual salary is $120,000.
Financial Engineer: Financial engineers develop and use financial models to solve complex problems in finance. They work on a variety of projects, such as designing new financial products, pricing derivatives, and managing risk. The average annual salary for a financial engineer is $110,000.

FAQs

Here are some frequently asked questions about MS in Financial Engineering:

Q1) What is the difference between an MS in Financial Engineering and an MBA in Finance?

A1) An MS in Financial Engineering is a more of a kind of technical degree that emphasizes on the mathematical and statistical aspects of finance subject. An MBA in Finance is a more general degree that includes a wider range of topics, including business, accounting, and marketing.

Q2) What are the career prospects for graduates with an MFE degree?

A2) Graduates with an MFE degree can find jobs in a variety of financial institutions, such as investment banks, hedge funds, and insurance companies. They can also work in government agencies or as consultants. MFE graduates typically earn high salaries and have good job prospects.

Q3) How can I finance my Master of Financial Engineering (MFE )degree?

A3) There are a few ways to finance an MFE degree. One option is to take out student loans. Another option is to try for scholarships or grants. You can also opt for part-time or full-time while you are in school to help pay for your tuition.