Want The Most Wanted Job in Wall Street? Get M.S. in Financial Engineering

Raghuram Sukumar Degree Programs 13 Comments

To get that most wanted job (and first job) one has to complete Quantitative Risk Management course in M.S. in Financial Engineering from olumbia University.

Starting Salary for such jobs can be high as 150,000 per year.

Job Nature – Manage the  investments risks.

 

Most Wanted Wall Street Job

Watch the following CNN Video to get more perspective about the course, degree, salary and job nature.

M.S. Financial Engineering (Columbia University)

Financial Engineering is a multidisciplinary field involving financial theory, the methods of engineering, the tools of mathematics and the practice of programming. The Financial Engineering Program at Columbia University provides a one-year full-time training in the application of engineering methodologies and quantitative methods to finance. It is designed for students who wish to obtain positions in the securities, banking, and financial management and consulting industries, or as quantitative analysts in corporate treasury and finance departments of general manufacturing and service firms.

The first half of our program is devoted to the tools of the trade and their use in modeling financial markets and instruments. Students take courses in stochastic processes, optimization, numerical techniques, Monte Carlo simulation, and data analysis. They also study portfolio theory, derivatives valuation, and financial risk analysis, making use of the methods they have learned.

The second half of the program gives students the opportunity to take more advanced courses or study specialized topics. We offer a selection of more detailed courses on current subjects of interest, ranging from models of the term structure of interest rates to a study of the implied volatility smile, as well as a course on applications programming for financial engineering. Students can also choose from a variety of courses on particular markets and their models, for example mortgage-backed securities or credit-risk modeling.

Job Statistics for Financial Engineering

  • Class Size: 48
    Total number of graduating students: 48
    (6 students did not respond to the survey)
  • Students with employment*: 38
  • Percentage of students placed*: 90%
  • Range of Annual Base Salary: $50,000- $125,000
  • Sign-on Bonus: $5,000- $40,000
  • First Year-End Bonus: 10%- 150% of Base Salary **

*of respondents.  **historically.

Prerequisites for the MS in Financial Engineering

So, you know Financial Engineering pays big bucks. But, do you have the required skills and knowledge to get admission into to the program?

Read the following Prerequisites for the MS in Financial Engineering

Students entering the MS in Financial Engineering program should have an appropriate  mathematical background in probability, calculus and linear algebra. Those students who have this background should be able to do most of the following questions.

However it may be necessary for some people to first review some of their undergraduate material. This is particularly true of prospective students who have been working in industry and are not applying directly from an undergraduate program.

M.S. in Financial Engineering (MSFE) program only accepts applications for summer (July) admissions.

Is there a minimum General GRE Test score?

No. However, most admitted applicants have scores of 650 or higher on the Quantitative section of the test, and 2.5 or higher on the Analytical section of the test.

Tuition Fess for MS in Financial Engineering

MS in FE or MS&E Student Budget 2010-112

MS in FE or MS&E Student Budget 2010-112

  • Tuition (36 pts at $1,578 per point) – $56,808
  • Mandatory fees – $3,230
  • Health services & insurance – $2,762
  • Books and supplies – $1,654
  • Room and board – $24,612
  • Personal expenses (clothing, travel, loan fees, etc.) – $5,166
  • Total Year Budget – $94,232

Course duration – 2 Semesters.

Comments

  1. Upto $150,000 a year? Bonuses have shrunk to near 0. Highest starting salary listed above is $120,000, most likely to a student with 10 years experience.

    CNN is remiss in this sloppy reporting.

  2. the same HSB when I enquired about this program last january did not even find time to reply regarding financial engineering course. Now he has come up with an article, surprising!!

      1. Yes, you don’t. but at the end of the day its students who keep your business up and running. and the reason you probably did reply for my query was that you were not aware of such a course earlier 😀

        1. I will respond to to folks who are active commenters and to those who pay for consultation (when paid service is offered). Information is the blog contents is your source and its free.

          1. Why am I wasting time here..Thanks anyways for this article

  3. In my opinion for those who are interested in prosper living, this major will teach the tools to be independent financially and you could make a fortune . Wall street stock market is a mine of gold for 5% of traders. By learning how to manage wealth properly, you might once have your own.

  4. Are there any Aids or financial assistships offered for this program .. If yes, Can u please tell me how to avail them ?

  5. revered HSB
    I am an Electrical Engineer from a Govt. College (Lack of Branding)
    please have a look at my profile
    Xth –90.4
    XIIth–82
    Btech Electrical Eng-74%
    Publications– 2 Research papers in International journals
    I am keen to join MS in Finance,MS in Quantitative Finance,MFE from
    HEC ,LSE ,Carnegie Mellon .
    I have been getting GRE scores close to 310 in mocks.
    Please clear some of my queries
    1:Do one need to have a finance/Economics background to gain admission .
    2:What are the chances of getting admission for a profile like me .
    3:please tell me the minimum GRE score so as to have a decent chance of admission in these univ.

    what are universities should i select.
    kudos to your efforts 🙂

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