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2021 QuantNet Ranking of Best Financial Engineering Programs

The 2021 QuantNet MFE ranking is the most authoritative and comprehensive ranking of best Financial Engineering (MFE), Mathematical Finance programs in the continental USA.

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.

Baruch College

New York, NY 10010 Master in Financial Engineering

Total Score: 100

Peer Score: 4.0

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.

4.93 star(s) 29 reviews

Pending 33 Waitlisted 0 Accepted 228 Rejected 374

Tuition: $42,395

Enrollment: 26 FT, 3 PT

Acceptance rate: 8.2%

Undergrad GPA

Employment Rate

At Graduation: 93%

After 3 months: 100%

Compensation

Base: $121,621

Avg total

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Carnegie Mellon University

New York, NY 10005 | Pittsburgh, PA 15213 MS in Computational Finance

Total Score: 95

Peer Score: 4.1

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 four Carnegie Mellon colleges - Department of Mathematical Sciences, Department of Statistics and Data Science, Heinz College of Information Systems and Public Policy and the Tepper School of Business.

4.69 star(s) 52 reviews

Pending 15 Waitlisted 4 Accepted 405 Rejected 429

Tuition: $89,334

Enrollment: 89 FT

Acceptance rate: 8.9%

Undergrad GPA

Employment Rate

At Graduation: 77%

After 3 months: 95%

Compensation

Base: $108,846

Avg total

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Princeton University

Princeton, NJ 08544 Master in Finance

Total Score: 94

Peer Score: 3.8

The Princeton University's Master in Finance (MFin) program is offered by the Bendheim Center for Finance (BCF), an interdisciplinary center at Princeton University. This two-year program starts in the Fall semester.

4.86 star(s) 7 reviews

Pending 13 Waitlisted 3 Accepted 70 Rejected 285

Tuition: $112,940

Enrollment: 20 FT

Acceptance rate: 5.5%

Undergrad GPA

Employment Rate

At Graduation: 92%

After 3 months: 100%

Compensation

Base: $115,437

Avg total

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Columbia University

New York, NY 10027 Masters in Financial Engineering

Total Score: 91

Peer Score: 3.8

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.

3.18 star(s) 11 reviews

Pending 43 Waitlisted 0 Accepted 396 Rejected 470

Tuition: $79,056

Enrollment: 85 FT

Acceptance rate: 10.9%

Undergrad GPA

Employment Rate

At Graduation: 69%

After 3 months: 98%

Compensation

Base: $106,833

Avg total

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University of California, Berkeley

Berkeley, CA 94720 Master of Financial Engineering

Total Score: 88

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.

4.17 star(s) 41 reviews

Pending 5 Waitlisted 10 Accepted 230 Rejected 147

Tuition: $75,108

Enrollment: 96 FT

Acceptance rate: 16.9%

Undergrad GPA

Employment Rate

At Graduation: 70%

After 3 months: 92%

Compensation

Base: $113,544

Avg total

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Cornell University

Ithaca, NY 14850 Master in Financial Engineering

Total Score: 85

Peer Score: 3.6

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.

4.71 star(s) 7 reviews

Pending 6 Waitlisted 0 Accepted 331 Rejected 263

Tuition: $87,879

Enrollment: 27 FT

Acceptance rate: 17.0%

Undergrad GPA

Employment Rate

At Graduation: 58%

After 3 months: 90%

Compensation

Base: $106,000

Avg total

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Columbia University

New York, NY 10027 MA in Mathematics of Finance

Total Score: 84

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.

4.65 star(s) 17 reviews

Pending 8 Waitlisted 0 Accepted 257 Rejected 184

Tuition: $82,049

Enrollment: 52 FT, 1 PT

Acceptance rate: 23.8%

Undergrad GPA

Employment Rate

At Graduation: 72%

After 3 months: 96%

Compensation

Base: $93,504

Avg total

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NYU Tandon School of Engineering

Brooklyn, NY 11201 MS in Financial Engineering

Total Score: 83

Peer Score: 3.3

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.

3.43 star(s) 30 reviews

Pending 2 Waitlisted 3 Accepted 335 Rejected 166

Tuition: $70,000

Enrollment: 96 FT, 4 PT

Acceptance rate: 33.0%

Undergrad GPA

Employment Rate

At Graduation: 74%

After 3 months: 86%

Compensation

Base: $90,037

Avg total

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University of Chicago

Chicago, IL 60637 MS in Financial Mathematics

Total Score: 83

Peer Score: 3.4

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.

4.70 star(s) 50 reviews

Pending 10 Waitlisted 14 Accepted 433 Rejected 245

Tuition: $84,625

Enrollment: 69 FT, 6 PT

Acceptance rate: 27.4%

Undergrad GPA

Employment Rate

At Graduation: 81%

After 3 months: 93%

Compensation

Base: $94,999

Avg total

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Georgia Institute of Technology

Atlanta, GA 30332 MS in Quantitative and Computational Finance

Total Score: 80

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.

3.89 star(s) 9 reviews

Pending 9 Waitlisted 3 Accepted 231 Rejected 152

Tuition: $61,260

Enrollment: 34 FT

Acceptance rate: 15.0%

Undergrad GPA

Employment Rate

At Graduation: 68%

After 3 months: 96%

Compensation

Base: $95,920

Avg total

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New York University

New York, NY 10012 MS in Mathematics in Finance

Total Score: 77

Peer Score: 3.8

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.

4.64 star(s) 11 reviews

Pending 3 Waitlisted 0 Accepted 210 Rejected 294

Tuition: $74,450

Enrollment: 27 FT, 5 PT

Acceptance rate: 16.2%

Undergrad GPA

Employment Rate

At Graduation: 24%

After 3 months: 48%

Compensation

Base: $103,700

Avg total

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North Carolina State University

Raleigh, NC 27695 Master in Financial Mathematics

Total Score: 77

Peer Score: 2.5

North Carolina State University (NCSU) offers a three-semester Financial Mathematics program through its Department of Mathematics.

4.48 star(s) 27 reviews

Pending 2 Waitlisted 0 Accepted 104 Rejected 23

Tuition: $58,497

Enrollment: 17 FT

Acceptance rate: 21.2%

Undergrad GPA

Employment Rate

At Graduation: 68%

After 3 months: 100%

Compensation

Base: $89,692

Avg total

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Boston University

Boston, MA 02215 MS in Mathematical Finance and Financial Technology

Total Score: 74

Peer Score: 3.0

The three-semester program is offered by Boston University's Questrom School of Business.

3.73 star(s) 15 reviews

Pending 2 Waitlisted 1 Accepted 225 Rejected 115

Tuition: $85,281

Enrollment: 101 FT

Acceptance rate: 42.8%

Undergrad GPA

Employment Rate

At Graduation: 60%

After 3 months: 94%

Compensation

Base: $85,600

Avg total

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Rutgers University

Newark, NJ 07102 Master of Quantitative Finance

Total Score: 71

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.

4.08 star(s) 13 reviews

Pending 1 Waitlisted 0 Accepted 122 Rejected 8

Tuition: $67,587

Enrollment: 31 FT, 1 PT

Acceptance rate: 47.3%

Undergrad GPA

Employment Rate

At Graduation: 61%

After 3 months: 93%

Compensation

Base: $89,257

Avg total

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University of Washington

Seattle, WA 98195 MS Computational Finance & Risk Management

Total Score: 71

Peer Score: 3.0

The Master of Computational Finance and Risk Management (CFRM) program is a degree offered in the University of Washington’s Department of Applied Mathematics.

4.95 star(s) 40 reviews

Pending 2 Waitlisted 0 Accepted 94 Rejected 67

Tuition: $46,500

Enrollment: 38 FT, 12 PT

Acceptance rate: 47.0%

Undergrad GPA

Employment Rate

At Graduation: 74%

After 3 months: 100%

Compensation

Base: $72,578

Avg total

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University of California, Los Angeles

Los Angeles, CA 90095 Master of Financial Engineering

Total Score: 68

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.

4.43 star(s) 42 reviews

Pending 5 Waitlisted 1 Accepted 176 Rejected 81

Tuition: $78,470

Enrollment: 48 FT

Acceptance rate: 23.5%

Undergrad GPA

Employment Rate

At Graduation: 39%

After 3 months: 74%

Compensation

Base: $97,000

Avg total

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Fordham University

New York, NY 10023 MS in Quantitative Finance

Total Score: 64

Peer Score: 2.4

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.

5.00 star(s) 12 reviews

Pending 3 Waitlisted 0 Accepted 65 Rejected 14

Tuition: $75,690

Enrollment: 31 FT

Acceptance rate: 62.2%

Undergrad GPA

Employment Rate

At Graduation: 43%

After 3 months: 66%

Compensation

Base: $89,709

Avg total

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Stony Brook University

Stony Brook, NY 11794 Master in Quantitative Finance

Total Score: 61

Peer Score: 2.4

4.50 star(s) 2 reviews

Pending 0 Waitlisted 0 Accepted 17 Rejected 8

Tuition: $43,790

Enrollment: 23 FT, 2 PT

Acceptance rate: 76.2%

Undergrad GPA

Employment Rate

At Graduation: 36%

After 3 months: 100%

Compensation

Avg total

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University of Illinois Urbana Champaign

Urbana, IL 61801 Master of Financial Engineering

Total Score: 60

Peer Score: 2.6

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.

4.61 star(s) 38 reviews

Pending 0 Waitlisted 0 Accepted 136 Rejected 37

Tuition: $77,880

Enrollment: 22 FT

Acceptance rate: 48.5%

Undergrad GPA

Employment Rate

At Graduation: 5%

After 3 months: 66%

Compensation

Base: $102,600

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Stevens Institute of Technology

Hoboken, NJ 07030 MS in Financial Engineering

Total Score: 59

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.

4.45 star(s) 49 reviews

Pending 0 Waitlisted 0 Accepted 65 Rejected 2

Tuition: $47,530

Enrollment: 30 FT, 7 PT

Acceptance rate: 95.0%

Undergrad GPA

Employment Rate

At Graduation: 50%

After 3 months: 82%

Compensation

Base: $81,447

Avg total

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University of Minnesota

Minneapolis, MN 55455 Master of Financial Mathematics

Total Score: 58

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.

4.71 star(s) 41 reviews

Pending 0 Waitlisted 0 Accepted 28 Rejected 10

Tuition: $43,995

Enrollment: 19 FT

Acceptance rate: 85.2%

Employment Rate

At Graduation: 23%

After 3 months: 62%

Compensation

Base: $76,500

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Claremont Graduate University

Claremont, CA 91711 MS in Financial Engineering

Total Score: 53

Peer Score: 2.1

3.45 star(s) 11 reviews

Pending 0 Waitlisted 0 Accepted 22 Rejected 1

Tuition: $81,576

Enrollment: 6 FT

Acceptance rate: 81.8%

Employment Rate

At Graduation: 38%

After 3 months: 85%

Compensation

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Rensselaer Polytechnic Institute

Troy, NY 12180 MS in Quantitative Finance and Risk Analytics

Total Score: 42

Peer Score: 2.1

4.82 star(s) 11 reviews

Pending 0 Waitlisted 0 Accepted 11 Rejected 7

Tuition: $58,290

Enrollment: 13 FT

Acceptance rate: 72.8%

Employment Rate

At Graduation: 8%

After 3 months: 18%

Compensation

Avg total

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Illinois Institute of Technology

Chicago, IL 60616 Master in Mathematical Finance

Peer Score: 2.2

4.33 star(s) 6 reviews

Pending 0 Waitlisted 0 Accepted 22 Rejected 1

Tuition: $52,450

Enrollment: 6 FT

Acceptance rate: 61.6%

Employment Rate

Compensation

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Johns Hopkins University

Baltimore, MD 21218 Financial Mathematics MSE

Peer Score: 2.6

The Financial Mathematics program is offered by Johns Hopskins Whiting School of Engineering under their Department of Applied Mathematics and Statistics.

4.56 star(s) 9 reviews

Pending 3 Waitlisted 0 Accepted 65 Rejected 52

Tuition: $87,120

Enrollment: 57 FT, 2 PT

Acceptance rate: 41.4%

Undergrad GPA

Employment Rate

At Graduation: 23%

After 3 months: 100%

Compensation

Base: $87,625

Avg total

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Lehigh University

Bethlehem, PA 18015 MS in Financial Engineering

Peer Score: 2.0

5.00 star(s) 22 reviews

Pending 1 Waitlisted 0 Accepted 3 Rejected 0

Tuition: $45,000

Enrollment: 13 FT

Acceptance rate: 73.2%

Employment Rate

Compensation

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Rutgers University

Piscataway, NJ 08854 MS in Mathematical Finance

Peer Score: 2.5

4.13 star(s) 8 reviews

Pending 0 Waitlisted 0 Accepted 88 Rejected 32

Tuition: $55,310

Enrollment: 17 FT, 2 PT

Acceptance rate: 49.1%

Employment Rate

After 3 months: 56%

Compensation

Avg total

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University of Michigan

Ann Arbor, MI 48109 MS in Quantitative Finance and Risk Management

Peer Score: 2.6

2.67 star(s) 6 reviews

Pending 0 Waitlisted 0 Accepted 16 Rejected 13

Tuition: $74,322

Enrollment: 24 FT

Acceptance rate: 35.7%

Employment Rate

At Graduation: 37%

After 3 months: 67%

Compensation

Avg total

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University of North Carolina at Charlotte

Charlotte, NC 28223 MS in Mathematical Finance

Peer Score: 2.2

4.60 star(s) 10 reviews

Pending 0 Waitlisted 0 Accepted 23 Rejected 0

Tuition: $40,583

Enrollment: 39 FT

Acceptance rate: 80.6%

Employment Rate

At Graduation: 25%

After 3 months: 50%

Compensation

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Rank	Program	Total Score	Peer Score	% Employed at Graduation	% Employed at 3 months	Compensation	Cohort Size	Acceptance Rate	Tuition
1	Baruch College New York, NY 10010 Master in Financial Engineering 4.93 star(s) 29 reviews	100	4.0	93%	100%	$147,028	26 FT, 3 PT	8.2%	$42,395
2	Carnegie Mellon University New York, NY 10005 \| Pittsburgh, PA 15213 MS in Computational Finance 4.69 star(s) 52 reviews	95	4.1	77%	95%	$127,546	89 FT	8.9%	$89,334
3	Princeton University Princeton, NJ 08544 Master in Finance 4.86 star(s) 7 reviews	94	3.8	92%	100%	$126,496	20 FT	5.5%	$112,940
4	Columbia University New York, NY 10027 Masters in Financial Engineering 3.18 star(s) 11 reviews	91	3.8	69%	98%	$120,248	85 FT	10.9%	$79,056
5	University of California, Berkeley Berkeley, CA 94720 Master of Financial Engineering 4.17 star(s) 41 reviews	88	4.1	70%	92%	$124,401	96 FT	16.9%	$75,108
6	Cornell University Ithaca, NY 14850 Master in Financial Engineering 4.71 star(s) 7 reviews	85	3.6	58%	90%	$120,960	27 FT	17.0%	$87,879
7	Columbia University New York, NY 10027 MA in Mathematics of Finance 4.65 star(s) 17 reviews	84	3.5	72%	96%	$100,012	52 FT, 1 PT	23.8%	$82,049
8	NYU Tandon School of Engineering Brooklyn, NY 11201 MS in Financial Engineering 3.43 star(s) 30 reviews	83	3.3	74%	86%	$95,287	96 FT, 4 PT	33.0%	$70,000
8	University of Chicago Chicago, IL 60637 MS in Financial Mathematics 4.70 star(s) 50 reviews	83	3.4	81%	93%	$105,499	69 FT, 6 PT	27.4%	$84,625
10	Georgia Institute of Technology Atlanta, GA 30332 MS in Quantitative and Computational Finance 3.89 star(s) 9 reviews	80	2.8	68%	96%	$102,430	34 FT	15.0%	$61,260
11	New York University New York, NY 10012 MS in Mathematics in Finance 4.64 star(s) 11 reviews	77	3.8	24%	48%	$104,450	27 FT, 5 PT	16.2%	$74,450
11	North Carolina State University Raleigh, NC 27695 Master in Financial Mathematics 4.48 star(s) 27 reviews	77	2.5	68%	100%	$94,910	17 FT	21.2%	$58,497
13	Boston University Boston, MA 02215 MS in Mathematical Finance and Financial Technology 3.73 star(s) 15 reviews	74	3.0	60%	94%	$90,569	101 FT	42.8%	$85,281
14	Rutgers University Newark, NJ 07102 Master of Quantitative Finance 4.08 star(s) 13 reviews	71	2.6	61%	93%	$90,468	31 FT, 1 PT	47.3%	$67,587
14	University of Washington Seattle, WA 98195 MS Computational Finance & Risk Management 4.95 star(s) 40 reviews	71	3.0	74%	100%	$73,845	38 FT, 12 PT	47.0%	$46,500
16	University of California, Los Angeles Los Angeles, CA 90095 Master of Financial Engineering 4.43 star(s) 42 reviews	68	3.2	39%	74%	$103,250	48 FT	23.5%	$78,470
17	Fordham University New York, NY 10023 MS in Quantitative Finance 5.00 star(s) 12 reviews	64	2.4	43%	66%	$91,778	31 FT	62.2%	$75,690
18	Stony Brook University Stony Brook, NY 11794 Master in Quantitative Finance 4.50 star(s) 2 reviews	61	2.4	36%	100%	$90,000	23 FT, 2 PT	76.2%	$43,790
19	University of Illinois Urbana Champaign Urbana, IL 61801 Master of Financial Engineering 4.61 star(s) 38 reviews	60	2.6	5%	66%		22 FT	48.5%	$77,880
20	Stevens Institute of Technology Hoboken, NJ 07030 MS in Financial Engineering 4.45 star(s) 49 reviews	59	2.3	50%	82%	$90,197	30 FT, 7 PT	95.0%	$47,530
21	University of Minnesota Minneapolis, MN 55455 Master of Financial Mathematics 4.71 star(s) 41 reviews	58	2.7	23%	62%		19 FT	85.2%	$43,995
22	Claremont Graduate University Claremont, CA 91711 MS in Financial Engineering 3.45 star(s) 11 reviews	53	2.1	38%	85%	$94,905	6 FT	81.8%	$81,576
23	Rensselaer Polytechnic Institute Troy, NY 12180 MS in Quantitative Finance and Risk Analytics 4.82 star(s) 11 reviews	42	2.1	8%	18%	$74,600	13 FT	72.8%	$58,290
NR	Illinois Institute of Technology Chicago, IL 60616 Master in Mathematical Finance 4.33 star(s) 6 reviews		2.2				6 FT	61.6%	$52,450
NR	Johns Hopkins University Baltimore, MD 21218 Financial Mathematics MSE 4.56 star(s) 9 reviews		2.6	23%	100%	$90,317	57 FT, 2 PT	41.4%	$87,120
NR	Lehigh University Bethlehem, PA 18015 MS in Financial Engineering 5.00 star(s) 22 reviews		2.0				13 FT	73.2%	$45,000
NR	Rutgers University Piscataway, NJ 08854 MS in Mathematical Finance 4.13 star(s) 8 reviews		2.5		56%	$82,600	17 FT, 2 PT	49.1%	$55,310
NR	University of Michigan Ann Arbor, MI 48109 MS in Quantitative Finance and Risk Management 2.67 star(s) 6 reviews		2.6	37%	67%	$93,333	24 FT	35.7%	$74,322
NR	University of North Carolina at Charlotte Charlotte, NC 28223 MS in Mathematical Finance 4.60 star(s) 10 reviews		2.2	25%	50%		39 FT	80.6%	$40,583

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2021 Rankings Methodology

2024	2023	2022	2021	2020	2019
2018	2017	2016	2014	2012

Published

11/17/21
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7,757

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