Master's in Financial Engineering in California

Nov 12, 2018

Students interested in studying financial engineering in California can typically choose between 2 types of master's degree programs in the subject that prepare students for their careers and/or further study at the doctoral level. These programs can be completed in as little as 1 year and vary in their requirements. Get details about a handful of the available programs in California.

California Schools with Master's Programs in Financial Engineering

University of California-Los Angeles

The University of California-Los Angeles offers a Master of Financial Engineering (MFE) program that boasts a student-to-faculty ratio of 3 to 1, according to the school's website. The program can be completed in 15 months and requires 60 units. Students are required to complete a summer internship experience and an Applied Finance Project prior to graduation. The project allows students to work on real problems for clients, interact with possible future employers and focus their project in a particular area of the field, such as risk management or portfolio management.

University of Southern California

The University of Southern California in Los Angeles has a Master of Science in Financial Engineering (MSFE) that requires 30 units. Students in the program must maintain a 3.0 GPA and are required to take a course in directed research. Other required courses include topics in financial risk, corporate finance and mathematics. Students also take electives from the two areas of finance, business and economics and optimization, simulations and stochastic systems.

Claremont Graduate University

Claremont Graduate University in Claremont provides an MSFE program that can be taken full- or part-time. The program requires 40 units, can be completed in 1.5 to 2 years and allows students to concentrate in financial engineering data analytics if they would like. Students can get hands-on experience through the Engineering and Computational Mathematics Clinic program that allows them to work on projects for real clients. The program also offers a unique exchange program that allows students to study in Switzerland.

University of California-Berkeley

The University of California-Berkeley offers a 28-unit MFE program. It is a full-time program, can be completed in 1 year and requires an Applied Finance Project. Graduates of the program are prepared for a wide range of careers in specializations like special hedging, security structuring, research and consulting. Students are required to take core courses in subjects such as derivatives, calculus and fixed income markets.

California State University-Fullerton

California State University-Fullerton has an MS in Financial Engineering and Risk Management program that totals 30 units. The program requires a capstone experience in the form of a final project. Students take required courses in risk management, investment management, options and finance. Students can also choose from electives in areas including ethics, insurance, statistics, financial economics and decision models.

Common Entrance Requirements

Applicants to master's degree programs in financial engineering in California must hold a bachelor's degree and may need to meet a minimum GPA requirement, which is usually around a 3.0. It is fairly common for these programs to look for applicants that have a strong background in math, programming, engineering and/or science. Some of these programs may recommend that students have research and/or work experience and some may require an interview process for qualified applicants. Generally, these programs require students to submit their official transcripts and GRE or GMAT test scores. Most of these programs also require some combination of letters of recommendation, a resume and/or a personal statement or essays with the application.

California offers Master of Financial Engineering or Master of Science degree programs in the field that usually include a hands-on project. These programs also provide unique learning opportunities and/or chances to further specialize in various areas of the field.

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