Master's Programs in Financial Engineering

Find out about some prerequisites for enrollment in master's programs in financial engineering. Read on to find out about advantageous degrees and career opportunities for this field. Schools offering Finance degrees can also be found in these popular choices.

How to Earn a Master's in Financial Engineering

Common entrance requirements for a master's in financial engineering include the attainment of a bachelor's degree from an accredited institution with proven proficiency in subjects such as linear algebra, probability theory, computer programming, applied statistics, and multivariable calculus. Applicants to a master's in financial engineering program must also provide official transcripts and designated GRE scores.

Foundations of Financial Engineering

Foundations of financial engineering courses focus on the basic principles and theories needed to address questions related to financial engineering. Providing a broad overview of the foundations necessary for individuals entering a career in financial engineering, these courses help prepare students to tackle larger, more complex issues. With a heavy focus on mathematics and economic and pricing models, foundations of financial engineering courses offer an approachable introduction to more complicated subject matter.

Financial Economics

Financial economics courses offer an introduction to the principles and applications related to the theory of financial economics. With a special emphasis on foundational theories of markets and associated competition, this course provides an overview of certainty and perfect capital markets, risk and contingent claims theory, and capital market imperfections. Helping to provide a solid understanding of financial economics, this course can be helpful for individuals seeking careers in financial engineering.

Financial Risk Management

This course covers financial risk management, asset pricing, and associated problems and techniques. Courses in financial risk management place special emphasis on risk finance and attitudes, as well as risk management principles and practices. Teaching essential principles for any individual entering a career in financial engineering, financial risk management courses help prepare students to better solve real-world problems.

Quantitative Methods in Finance

Quantitative methods in finance courses focus on financial modeling and quantitative methods. Teaching probability theory as well as stochastic processes, these courses provide a solid base in numerically-based reasoning. Utilizing calculus and probability, a thorough understanding of these related courses can prove useful to individuals taking this course.

Pricing and Hedging

Pricing and hedging courses focus on arbitrage, hedging and risk, and basic financial derivatives theory. Addressing problems through numerical analysis, these courses seek to provide exercises in quantitative reasoning. Dealing with mathematical theories and equations concerning the way pricing relates to market activity, courses in pricing and hedging help provide a solid framework for individuals entering into financial engineering careers.

Financial Engineering Master's Degree Career Paths

Risk Management

For individuals with a master's in financial engineering, risk management is one possible job option. Involved with monitoring and mitigating risk in the financial sphere, a master's in financial engineering can help make applicants for this position stand out. A highly analytical position, a career in risk management offers the opportunity to solve problems and effect real-world change.

Money Management

A master's degree in financial engineering can position degree holders for a career in money management. Tasked with the oversight and investment of money for companies or individuals, this position is focused on the efficient handling of money. Helping grow wealth and secure financial futures, money management is an often sought-after position.

Managerial Finance

A master's degree in financial engineering can assist individuals in attaining a job in managerial finance. Tasked with the oversight and assessment of financial information, managerial finance focuses on the techniques used to manipulate finances. An essential position for the smooth functioning of a company, a solid foundation of financial techniques and their implementation is usually necessary for this position.

Private Equity

A master's degree in financial engineering can prepare degree holders for a career in private equity. Tasked with management of funds within the private sector, a private equity job can be quite lucrative. A job in private equity deals with investment strategy and best practices.

Hedge Funds

A master's degree in financial engineering can prepare degree holders for a career in hedge funds. Dealing with pooled capital from multiple parties managed under a single company, hedge funds utilize core investment principles to make monetary gains. A thorough understanding of the inner workings of financial investment is beneficial to individuals applying for this position.

Data Analytics

A master's degree in financial engineering can position degree holders for a career in data analytics. Tasked with analyzing financial and economic data that is used to construct financial plans, a solid foundation in mathematics and investment principles is important for this position. Helping create overarching plans for investment action, data analytics helps drive profitable investment practices.

Financial Accounting

A master's degree in financial engineering can make degree holders more competitive when applying for positions in financial accounting. Usually tasked with oversight of a company's finances, financial accountants deal with record keeping and checking. A highly important position, financial accountants help keep things running smoothly.

Financial Analyst

For individuals attaining their master's in financial engineering, financial analyst is a viable job option. Tasked with analyzing compiled financial data, financial analysts use mathematics and financial theory to make predictions based on past data. Providing key investment and financial advice, financial analysts can greatly benefit from a financial engineering degree.

Job Title Median Salary (2018)* Job Growth (2018-2028)*
Risk Manager $83,610 (all management analysts) 14% (all management analysts)
Money Manager $127,990 (all financial managers) 16% (all financial managers)
Financial Manager $127,990 16%
Private Equity Manager $85,660 (all financial analysts) 6% (all financial analysts)
Hedge Fund Manager $127,990 (all financial managers) 16% (all financial managers)
Data Analyst $85,660 (all financial analysts) 6% (all financial analysts)
Financial Accountant $70,500 (all accountants and auditors) 6% (all accountants and auditors)
Financial Analyst $85,660 6%

Source: *U.S. Bureau of Labor Statistics (BLS)

A master's degree in financial engineering helps prepare individuals to enter into a wide range of positions within the financial sphere. Heavily focused on mathematics and financial and economic principle and theory, master's programs in financial engineering serve as a great foundation for individuals interested in pursuing a career in finance.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

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