Students in New York who are interested in financial engineering can pursue a Master of Science in Financial Engineering or a Master of Financial Engineering program. These programs are offered primarily in the New York City area and can usually be completed in less than 2 years. Explore what makes each program unique.
New York Schools with Master's Programs in Financial Engineering
New York University
New York University in New York City offers a Master of Science (MS) in Financial Engineering that requires 33 credits. The program can be taken in a part-time, full-time or accelerated format. It can be completed in as little as 3 semesters in the accelerated format or in 4 semesters in the traditional, full-time format. Students in the program can choose from tracks in risk finance, financial markets and corporate finance, technology and algorithmic finance or computational finance. Students must complete a capstone experience. Core course topics include quantitative methods, financial economics, valuation and financial risk management.
CUNY Bernard M Baruch College
New York City is also home to CUNY Bernard M Baruch College that has a Master of Financial Engineering (MFE) program. Students can complete the program in 3 semesters, and it requires a total of 36 credits. Students are required to complete a capstone project and present their project prior to graduation. They may choose to participate in internships for hands-on learning. The program allows for customization through 24 credits of electives in math or business that cover a wide range of topics, including estimation, risk models, time series, data science, blockchain technologies, credit risk and econometrics.
Cornell University in Ithaca provides a Master of Engineering with a Financial concentration (MFE) that can be completed in 3 semesters. While students start the program on the Ithaca campus, they will finish at Cornell Financial Engineering Manhattan in New York City. Students are able to participate in an internship experience the summer after their first full year for hands-on learning. The program's coursework allows students to focus their studies on particular career tracks, such as trading, financial data science, quantitative portfolio management and financial risk management. Students take core courses from modules in optimization, stochastic modeling, financial applications and data science/statistics. A Financial Data Science Certificate (FDSC) is available for students who are interested in data science and machine learning.
Columbia University, also in New York City, offers a full-time MS in Financial Engineering that requires 36 credits. Students in the program can choose from concentrations in computational finance and trading systems, computation and programming, finance and economics, asset management or derivatives. As part of the core curriculum, students take a seminar series in financial engineering each semester, as well as one non-credit course in leadership and professional development.
Common Entrance Requirements
Master's programs in financial engineering in New York may have multiple start dates throughout the year and/or multiple rounds of admissions. Applicants to these programs generally need to hold a bachelor's degree, and some programs may require that it be in a specific field, such as engineering, or demonstrate proficiency in different subjects, like calculus, computer programming, algebra, probability or statistics. Typical application materials for these programs include official transcripts, GRE scores, letters of reference, a personal statement and/or a resume or CV. Some programs may require an interview process, which may include technical questions in computer programming, math or finance.
There are a handful of colleges in New York that offer master's programs in financial engineering. These programs typically provide students the opportunity to choose a concentration and/or take courses in their particular areas of interest.