2016 QuantNet Ranking of Best Financial Engineering Programs

Ranked by QuantNet in October 2015. The most comprehensive 2016 ranking of best Financial Engineering (MFE), Mathematical Finance programs in North America.

QuantNet 2016 Ranking Badge SVG

The QuantNet ranking of Financial Engineering, Mathematical, and Quantitative Finance master's programs in the US offers detailed insights into placement and admission statistics from the nation's top programs. It serves as the ultimate guide for prospective applicants, helping them choose and enroll in the best master’s programs in quantitative finance.

Carnegie Mellon University - MS in Computational Finance

Carnegie Mellon University

New York, NY 10005 | Pittsburgh, PA 15213 MS in Computational Finance
1
Total Score
100
Peer Score
4.2
The Carnegie Mellon University's Master of Science in Computational Finance (MSCF) is a 16-month financial engineering degree developed through the joint venture of Department of Mathematical Sciences, Department of Statistics and Data Science, Heinz College of Information Systems and Public Policy and the Tepper School of Business. Application Deadline: Dec 1 (round 1), Mar 1 (round 2)

MSCF: The most well-rounded quant program
I came to the program with no full time working experience and academical (but less practical) knowledge mainly in Math and Econ. This program helped me become technically ready for most quant jobs and taught me how to communicate effectively. Here are reasons I think... (more)
- Class of 2026
4.70 star(s) 54 reviews
Tuition
$80,400
Enrollment
98 FT
Acceptance rate
15.7%
Undergrad GPA
Employment Rate
At Graduation
62%
After 3 months
81%
Compensation
Base
$92,194
Baruch College - Master in Financial Engineering

Baruch College

New York, NY 10010 Master in Financial Engineering
2
Total Score
98
Peer Score
3.9
The Baruch College's Master of Financial Engineering (MFE) program is offered by the Math Department under the Weissman School of Arts and Sciences. This three-semester program starts in the Fall semester. Application Deadline: Nov 1 (round 1), Dec 1 (round 2), Jan 15 (round 3), Mar 15 (round 4)

Program of Great Value
My experience with Baruch MFE so far is amazing. This is a very friendly and supportive community where everyone helps each other. The students are incredibly smart, and I’ve learned so much not just from the courses, but also from my classmates. The career service is... (more)
- Class of 2024
4.94 star(s) 31 reviews
Tuition
$35,040
Enrollment
36 FT, 7 PT
Acceptance rate
7.9%
Undergrad GPA
Employment Rate
At Graduation
86%
After 3 months
100%
Compensation
Base
$96,000
Columbia University - Masters in Financial Engineering

Columbia University

2
Total Score
98
Peer Score
4.1
Launched in 2002, Columbia University's Master in Financial Engineering (MFE) program is offered by the Industrial Engineering and Operations Research Department under The Fu Foundation School of Engineering and Applied Science. This one-year, full-time program, starts in the fall semester. Application Deadline: Jan 15

  • Anonymous
  • 4.00 star(s)
Good Program, some things could be better
I will structure this review into the following categories: students, classroom instruction, program resources, and career training. Students: Given that the program has a 10% acceptance rate, the students that are accepted are necessarily the best of the best. Many... (more)
- Class of 2024
3.31 star(s) 16 reviews
Tuition
$61,560
Enrollment
80 FT
Acceptance rate
10.0%
Undergrad GPA
Employment Rate
At Graduation
88%
After 3 months
99%
Compensation
Base
$90,000
Avg total
University of California, Berkeley - Master of Financial Engineering

University of California, Berkeley

Berkeley, CA 94720 Master of Financial Engineering
2
Total Score
98
Peer Score
4.1
The UC Berkeley Master of Financial Engineering (MFE) program is offered by the Berkeley Haas School of Business. Established in 2000, this one-year program commences each spring. Application Deadline: Jan 16 (round 1), Apr 1 (round 2), Jun 5 (round 3), Oct 1 (round 4)

Getting Better
It is intense, fast-paced, and rewards those who come prepared. Internship and Recruiting Landscape: Because the program starts in spring, the traditional fall internship cycle overlaps with coursework, which can limit opportunities. However, the summer internship path... (more)
- Class of 2026
4.16 star(s) 43 reviews
Tuition
$63,540
Enrollment
68 FT
Acceptance rate
18.6%
Undergrad GPA
Employment Rate
Compensation
New York University - MS in Mathematics in Finance

New York University

New York, NY 10012 MS in Mathematics in Finance
5
Total Score
97
Peer Score
3.9
The New York University's MS in Mathematics in Finance program is offered by NYU’s Courant Institute of Mathematical Sciences. This three-semester program starts in the Fall semester. Application Deadline: Feb 8

Time consuming.
I chose NYU’s MSFM program over Columbia’s MAFN, now I feel some regret I come from a math and econ background, I had prepared myself thoroughly before entering the program, stochastic calculus, machine learning, regression analysis, statistics, programming, CTA... (more)
- Class of 2026
4.42 star(s) 12 reviews
Tuition
$58,000
Enrollment
30 FT
Acceptance rate
9.0%
Employment Rate
Compensation
Princeton University - Master in Finance

Princeton University

Princeton, NJ 08544 Master in Finance
5
Total Score
97
The Princeton University Master in Finance (MFin) program is offered by the Bendheim Center for Finance. Established in 1999, this two-year program begins each fall. Application Deadline: Dec 15

Great university and program
I’ll divide this review into two parts — the recruitment side (career services) and the academic environment. Recruitment Side: The career services team does a solid job. They bring a lot of companies to campus throughout the year, and even outside the MFin program... (more)
- Class of 2026
4.88 star(s) 8 reviews
Tuition
$90,700
Enrollment
26 FT
Acceptance rate
4.9%
Employment Rate
At Graduation
93%
After 3 months
97%
Compensation
Base
$110,000
Columbia University - MA in Mathematics of Finance (MAFN)

Columbia University

7
Total Score
93
Peer Score
3.5
The Master of Arts in Mathematical Finance (MAFN) program is offered jointly by the Department of Mathematics and Department of Statistics at Columbia University. The program can be completed in two or three semesters for full-time students. Application Deadline: May 1

  • Anonymous
  • 5.00 star(s)
Outstanding - the best of the best.
Faculty and colleagues are second to none. Period. Solid and rigorous mathematics. Not for the timid. Students from all over the globe. Visiting professors are top-flight. Albert Shiryaev told stories of Kolmogorov. Derman, Karatzas, Protter, Smirnov, etc. are... (more)
- Class of 2004
4.65 star(s) 17 reviews
Tuition
$60,332
Enrollment
97 FT
Acceptance rate
14.1%
Employment Rate
Compensation
Cornell University - Master in Financial Engineering

Cornell University

8
Total Score
87
Peer Score
3.4
The Cornell University's Master in Financial Engineering program is offered by School of Operations Research and Information Engineering (ORIE) under Cornell Engineering. Established in 2006, this three-semester program starts in the Fall semester in Ithaca, upstate NY with the last semester in New York City. Application Deadline: Dec 1

  • Anonymous
  • 3.00 star(s)
A Costly Investment with Mixed Returns: Weighing the Real Value of the Program
Pursuing this degree is a significant investment—both financially and in terms of time. Given the high cost, I strongly recommend that anyone considering this program be extremely diligent and clear about their goals before enrolling. Some classes genuinely provide the... (more)
- Class of 2024
4.44 star(s) 9 reviews
Tuition
$74,000
Enrollment
93 FT
Acceptance rate
24.0%
Undergrad GPA
Employment Rate
At Graduation
69%
After 3 months
94%
Compensation
Base
$84,000
Massachusetts Institute of Technology - Master of Finance

Massachusetts Institute of Technology

Cambridge, MA 02139 Master of Finance
9
Total Score
85
Peer Score
3.8
Established in 2008, the MIT Master in Finance (MFin) program is a 18-month, full-time program starting in the summer, offered by the Sloan School of Management. Application Deadline: Jan 5

Pre-experience Business School
To give a summary of the program's main features and bugs: Good: - Highly flexible. You can truly do whatever you want with this degree -- whether you want it to be completely quant focused, or basically an MBA. - Extremely sharp cohort. Many of your classmates will... (more)
- Class of 2026
3.81 star(s) 27 reviews
Tuition
$100,350
Enrollment
121 FT
Acceptance rate
10.0%
Employment Rate
At Graduation
60%
After 3 months
81%
Compensation
Base
$75,255
Avg total
University of Chicago - MS in Financial Mathematics

University of Chicago

Chicago, IL 60637 MS in Financial Mathematics
9
Total Score
85
Peer Score
3.5
The University of Chicago's Master in Financial Mathematics (MSFM) program is offered by the Department of Mathematics under the Physical Sciences Division. Launched in 1996, this three-semester program starts each Fall semester. Full-time, part-time in person and online programs are available. Application Deadline: Jan 8 (round 1), Mar 26 (round 2)

  • Anonymous
  • 5.00 star(s)
A Rigorous Program at the Intersection of Finance, Data, and Industry
The program is both rigorous and flexible, offering cross-listed courses from the Economics Department and Booth School of Business. The diverse cohort—including mature students—adds depth to discussions, while capstone projects with industry partners provide real-world... (more)
- Class of 2022
4.71 star(s) 52 reviews
Tuition
$81,216
Enrollment
75 FT, 4 PT
Acceptance rate
26.1%
Undergrad GPA
Employment Rate
At Graduation
63%
After 3 months
89%
Compensation
Base
$106,143
University of Toronto - Master of Mathematical Finance

University of Toronto

9
Total Score
85
Peer Score
3.1
Application Deadline: Dec 14

Top in Canada. Doesn't target quant jobs, because of the Toronto market
The MMF program at U of T is undeniably one of the top two quantitative finance programs in Canada (the other being MQF at Waterloo). The format of the program is one fall semester followed by an internship in the winter and ends with a summer semester. The curriculum... (more)
- Class of 2019
4.33 star(s) 6 reviews
Tuition
C$43,000
Enrollment
30 FT
Acceptance rate
12.0%
Employment Rate
Compensation
Boston University - MS in Mathematical Finance and Financial Technology

Boston University

12
Total Score
83
Peer Score
2.9
The three-semester program is offered by Boston University's Questrom School of Business. Application Deadline: Oct 27 (round 1), Jan 12 (round 2), Feb 17 (round 3), Apr 7 (round 4)

A Great Math Finance Program
The program offers a well-balanced curriculum that includes both rigorous classical theories and practical applications. Faculty members come from both academic and industry backgrounds, so students can build a strong theoretical foundation and also get valuable... (more)
- Class of 2022
3.73 star(s) 15 reviews
Tuition
$71,133
Enrollment
70 FT
Acceptance rate
19.0%
Undergrad GPA
Employment Rate
Compensation
University of California, Los Angeles - Master of Financial Engineering

University of California, Los Angeles

Los Angeles, CA 90095 Master of Financial Engineering
12
Total Score
83
Peer Score
3.2
Launched in 2009, the UCLA Master of Financial Engineering (MFE) program at the Anderson School of Management is a comprehensive 15-months, quarter-based full-time program starting each fall. Application Deadline: Dec 31 (round 1), Mar 1 (round 2), Apr 30 (round 3)

Great school, great people, don't come here though
Graduating soon but I’m going to try to give an in-depth and honest review of the program for the incoming applicants. I am generally happy with my own outcome at UCLA and I emphasize this to point out my review is not an expression of personal frustration. I am... (more)
- Class of 2025
4.26 star(s) 46 reviews
Tuition
$57,268
Enrollment
66 FT
Acceptance rate
13.8%
Undergrad GPA
Employment Rate
At Graduation
63%
After 3 months
93%
Compensation
Base
$85,000
University of Washington - MS Computational Finance & Risk Management

University of Washington

14
Total Score
81
Peer Score
2.6
The Master of Computational Finance and Risk Management (CFRM) program is a degree offered in the University of Washington’s Department of Applied Mathematics. Application Deadline: Jan 30

Great Program, Strongly Recommend
I am an MS graduate (2022 cohort) from the Computational Finance and Risk Management (CFRM) program at the University of Washington (UW). Before coming to UW, I received a dual degree in BS Mathematics and BA Economics. I was admitted to UW CFRM with a merit-based... (more)
- Class of 2023
4.95 star(s) 40 reviews
Tuition
$37,800
Enrollment
70 FT
Acceptance rate
22.1%
Undergrad GPA
Employment Rate
At Graduation
90%
After 3 months
97%
Compensation
Base
$80,000
University of Waterloo - Master of Quantitative Finance

University of Waterloo

14
Total Score
81
Peer Score
2.7
Application Deadline: Jan 15, 2025

I don't know MQF before. But right now Master of Quantitative program is the most terrible master program "in the world". The course design is not change for almost 20 years, yes, you can learn something if you work hard. But then what? you can not find a good job after... (more)
3.33 star(s) 3 reviews
Tuition
C$13,500
Enrollment
20 FT
Acceptance rate
15.0%
Employment Rate
Compensation
Base
C$83,600
Georgia Institute of Technology - MS in Quantitative and Computational Finance

Georgia Institute of Technology

16
Total Score
79
Peer Score
2.8
The Master of Science in Quantitative and Computational Finance (QCF) program is an interdisciplinary education between the Scheller College of Business, H. Milton Steward School of Industrial & Systems Engineering and School of Mathematics. Application Deadline: Oct 1 (Spring), Mar 15 (Fall)

Probably the best choice if you can't go to the top 4
Qcf went up to top 8 this year on quantnet, which made it highly competitive for 2025 fall. Of course, you can't rely on the career service to get an amazing offer from a hedge fund, but it's good enough for most people in this hard time. (more)
- Class of 2025
4.00 star(s) 12 reviews
Tuition
$56,067
Enrollment
51 FT
Acceptance rate
16.2%
Employment Rate
At Graduation
71%
After 3 months
95%
Compensation
Base
$71,766
NYU Tandon School of Engineering - MS in Financial Engineering

NYU Tandon School of Engineering

Brooklyn, NY 11201 MS in Financial Engineering
16
Total Score
79
Peer Score
2.7
The Master of Science in Financial Engieering (MSFE) program is offered by the Financial Risk Engineering (FRE) department of NYU Tandon School of Engineering. This 4-semester program starts in mid-August with the Pre-program bootcamp prior to the Fall semester. Application Deadline: Feb 15

Great Career Placement & Alumni Network
I actually come from a DS background rather than a traditional quant path, and the NYU MFE program turned out to be an incredibly valuable experience for me, which might be helpful to students with similar profiles who want to explore data science roles within the... (more)
- Class of 2024
3.54 star(s) 35 reviews
Tuition
$54,818
Enrollment
115 FT
Acceptance rate
32.0%
Undergrad GPA
Employment Rate
Compensation
Rutgers University - Master of Quantitative Finance

Rutgers University

18
Total Score
77
Peer Score
2.6
The Rutgers Master of Quantitative Finance (MQF) program was founded in 2001 and is housed in Rutgers Business School. The program is three-semester and starts in fall semester. Application Deadline: Nov 1 (Spring), May 15 (Fall)

On the strength of Rutgers MQF - Alumni Review
When looking at ratings and reviews of Quant programs on this site, you need to make sure to have the context behind the numbers in mind. Every program is designed to cater to a different incoming profile, so simply going off of the rating number will not give you a very... (more)
- Class of 2023
4.08 star(s) 13 reviews
Tuition
$56,160
Enrollment
58 FT
Acceptance rate
35.1%
Undergrad GPA
Employment Rate
Compensation
Base
$85,727
~ Rutgers University - MS in Mathematical Finance

~ Rutgers University

Piscataway, NJ 08854 MS in Mathematical Finance
18
Total Score
72
Peer Score
2.6

The program is strong. Students are expected to take two courses each of stochastic calculus, numerical analysis, and statistics (regression and time series analysis). These courses are very rigorous. But it is not all theory. Many elective courses are taught by current... (more)
4.13 star(s) 8 reviews
Tuition
$54,000
Employment Rate
Compensation
University of Illinois Urbana Champaign - Master of Financial Engineering

University of Illinois Urbana Champaign

20
Total Score
76
Peer Score
2.7
The University of Illinois Urbana-Champaign (UIUC) offers a Master of Science in Financial Engineering (MSFE) program through its Gies College of Business in collaboration with the Department of Mathematics and the Department of Statistics. Application Deadline: Apr 15

2025 review of UIUC MFE program
I am one of the Class of 2025. This is an overall a good program. The courses are all good, covering from risk, quant research, to derivatives pricing(structure notes). If you are interested in quant development, you can also find a place here. The director is really... (more)
- Class of 2025
4.59 star(s) 39 reviews
Tuition
$55,500
Enrollment
68 FT
Acceptance rate
35.6%
Undergrad GPA
Employment Rate
Compensation
Base
$85,000
Fordham University - MS in Quantitative Finance

Fordham University

New York, NY 10023 MS in Quantitative Finance
21
Total Score
75
Peer Score
2.3
The Master of Science in Quantitative Finance (MSQF) program is offered by Fordham University's Gabelli School of Business. The three-semester program starts in the Fall. Application Deadline: Oct 10 (round 1), Jan 16 (round 2), Mar 20 (round 3)

Great professors & network
Exceptional faculty with strong industry and academic backgrounds. You get exposure to a prestigious crowd. The professors also teach at other schools like Princeton Columbia and NYU so the level of teaching is on par with the best. (more)
- Class of 2025
5.00 star(s) 14 reviews
Tuition
$50,875
Undergrad GPA
Employment Rate
At Graduation
69%
After 3 months
83%
Compensation
Base
$83,000
University of Minnesota - Master of Financial Mathematics

University of Minnesota

Minneapolis, MN 55455 Master of Financial Mathematics
22
Total Score
73
Peer Score
2.7
The program is offered by Minnesota Center for Financial and Actuarial Mathematics, a specialized center for quantitive finance within the School of Mathematics. Application Deadline: Feb 1 (round 1), Mar 1 (round 2)

Prepared Me Well for the Real World of Quant Finance
One of the greatest strengths of the MFM program is the fact that many courses are taught by seasoned adjunct instructors who are active professionals in the quant finance industry. This ensured that what we learned was not only theoretically sound but also aligned with... (more)
- Class of 2024
4.71 star(s) 42 reviews
Tuition
$36,800
Enrollment
38 FT
Acceptance rate
24.2%
Employment Rate
At Graduation
60%
After 3 months
79%
Compensation
Base
$70,000
Johns Hopkins University - Financial Mathematics MSE

Johns Hopkins University

Baltimore, MD 21218 Financial Mathematics MSE
23
Total Score
70
Peer Score
2.7
The Financial Mathematics program is offered by Johns Hopskins Whiting School of Engineering under their Department of Applied Mathematics and Statistics. Application Deadline: Dec 15

The program is underrated
I have been enrolled for one month, and my study experience is very good. I believe this program is underrated. The lecturers are excellent, and the courses include a lot of math, which is a great complement to the courses I took during my undergraduate studies. I've... (more)
- Class of 2027
4.60 star(s) 10 reviews
Tuition
$73,065
Enrollment
35 FT
Acceptance rate
14.9%
Undergrad GPA
Employment Rate
At Graduation
60%
After 3 months
88%
Compensation
University of North Carolina at Charlotte - MS in Mathematical Finance

University of North Carolina at Charlotte

Charlotte, NC 28223 MS in Mathematical Finance
24
Total Score
69
Peer Score
2.2
Application Deadline: Oct 1 (Spring), Mar 1 (Fall)

I just finished my degree here with a computational finance concentration and it wasn't what I expected. To be honest if you are really interested then you can learn a lot and go for a math or math finance phd easily. This is what the program is meant for. My intentions... (more)
4.64 star(s) 11 reviews
Tuition
$36,825
Acceptance rate
61.7%
Undergrad GPA
Employment Rate
Compensation
Base
$82,781
Claremont Graduate University - MS in Financial Engineering
Application Deadline: Jul 5

CGU MSFE is very Flexible
I'll be done with my coursework for the MSFE program after Summer 2025. I thought I would share my pros and cons about the program. Pros: - Smaller class size One of the main reasons I leaned toward CGU is the low student-faculty ratio. In all the classes I took, I... (more)
- Class of 2025
3.50 star(s) 12 reviews
Employment Rate
Compensation
Rensselaer Polytechnic Institute - MS in Quantitative Finance and Risk Analytics

Rensselaer Polytechnic Institute

26
Total Score
63
Peer Score
25.0
Application Deadline: December 1, January 15, March 1, April 15

Though the location is not financially- central, you will still definitely be surrounded by cutting edge lectures and experienced professors as well as excellent classmates in the same camp. I can not appreciate more for this elite college. In this one-year program, you... (more)
4.82 star(s) 11 reviews
Tuition
$48,100
Enrollment
45 FT
Acceptance rate
33.0%
Employment Rate
Compensation
Avg total
North Carolina State University - Master in Financial Mathematics

North Carolina State University

27
Total Score
61
Peer Score
2.4
The North Carolina State University (NCSU) Master of Financial Mathematics (MFM) program is offered by the Department of Mathematics in the College of Sciences. Established in 2003, this three-semester program begins each fall. Application Deadline: Jul 15 (Spring), Mar 1 (Fall)

NCSU Master of Financial Mathematics
When entering a financial engineering or mathematics program, many students aspire to become quantitative researchers or traders. While this is a reasonable goal, I've learned it's important to understand what each program specifically prepares you for. NCSU's MFM... (more)
- Class of 2025
4.46 star(s) 28 reviews
Tuition
$45,484
Enrollment
29 FT, 2 PT
Acceptance rate
23.0%
Undergrad GPA
Employment Rate
At Graduation
88%
After 3 months
88%
Compensation
Base
$82,000
University of Southern California - MS in Financial Engineering

University of Southern California

Los Angeles, CA 90089 MS in Financial Engineering
28
Total Score
60
Peer Score
2.4
Application Deadline: Sep 1, Dec 15

USC MFE Feedback
The Financial Engineering program at USC looks solid on paper but falls short in execution. While it is housed in the Electrical Engineering department, the teaching quality does not match the standards of a strong quantitative finance program. A major issue is the... (more)
- Class of 2024
2.00 star(s) 2 reviews
Tuition
$48,000
Enrollment
50 FT
Employment Rate
Compensation
~ Illinois Institute of Technology - Master in Mathematical Finance

~ Illinois Institute of Technology

Chicago, IL 60616 Master in Mathematical Finance
29
Total Score
57
Peer Score
2.3

A program always make you believe you will perform better in Quant World!(2011.08 – 2013.05) What do you think is unique about this program? The program’s curriculum has a great combined flavor from theoretical perspective and practical projects. From theoretical SIDE... (more)
4.33 star(s) 6 reviews
Tuition
$55,275
Enrollment
20 FT
Acceptance rate
47.9%
Employment Rate
Compensation
Stevens Institute of Technology - Master in Financial Engineering

Stevens Institute of Technology

30
Total Score
44
Peer Score
2.3
The Master in Financial Engineering (MFE) program is offered by Stevens School of Business. The three-semester program starts each fall semester. Application Deadline: Nov 1 (Spring), Apr 15 (Fall)

Great Experience as a Financial Technology and Analytics Student
As a Financial Technology and Analytics student, I have found the Stevens FTA (Financial Engineering Stream) program to be both rigorous and rewarding. The curriculum has a strong balance of finance, programming, and applied analytics, which has allowed me to build a... (more)
- Class of 2025
4.51 star(s) 57 reviews
Tuition
$42,825
Enrollment
205 FT
Acceptance rate
80.1%
Undergrad GPA
Employment Rate
Compensation
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