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 - Master in Financial Engineering

Baruch College

New York, NY 10010 Master in Financial Engineering
1
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. Application Deadline: Nov 1 (round 1), Dec 1 (round 2), Jan 15 (round 3), Mar 15 (round 4)

Highly Recommend
The perfect start point to enter the quant industry. The course materials are very useful and professors have a lot of insights. (more)
- Class of 2025
4.94 star(s) 32 reviews
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
Carnegie Mellon University - MS in Computational Finance

Carnegie Mellon University

New York, NY 10005 | Pittsburgh, PA 15213 MS in Computational Finance
2
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 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
$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
Princeton University - Master in Finance

Princeton University

Princeton, NJ 08544 Master in Finance
3
Total Score
94
Peer Score
3.8
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
$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
Columbia University - Masters in Financial Engineering

Columbia University

4
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. 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
$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
University of California, Berkeley - Master of Financial Engineering

University of California, Berkeley

Berkeley, CA 94720 Master of Financial Engineering
5
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. 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
$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
Cornell University - Master in Financial Engineering

Cornell University

6
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. 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
$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
Columbia University - MA in Mathematics of Finance (MAFN)

Columbia University

7
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. 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
$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
NYU Tandon School of Engineering - MS in Financial Engineering

NYU Tandon School of Engineering

Brooklyn, NY 11201 MS in Financial Engineering
8
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. 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
$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
University of Chicago - MS in Financial Mathematics

University of Chicago

Chicago, IL 60637 MS in Financial Mathematics
8
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. 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
$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
Georgia Institute of Technology - MS in Quantitative and Computational Finance

Georgia Institute of Technology

10
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. Application Deadline: Spring: Aug 1 (round 1), Oct 1 (round 2), Fall: Dec 5 (round 1), Mar 15 (round 2), May 1 (round 3)

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
$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
New York University - MS in Mathematics in Finance

New York University

New York, NY 10012 MS in Mathematics in Finance
11
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. 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
$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
North Carolina State University - Master in Financial Mathematics

North Carolina State University

11
Total Score
77
Peer Score
2.5
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
$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
Boston University - MS in Mathematical Finance and Financial Technology

Boston University

13
Total Score
74
Peer Score
3.0
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
$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
Rutgers University - Master of Quantitative Finance

Rutgers University

14
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. 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
$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
University of Washington - MS Computational Finance & Risk Management

University of Washington

14
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. 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
$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
University of California, Los Angeles - Master of Financial Engineering

University of California, Los Angeles

Los Angeles, CA 90095 Master of Financial Engineering
16
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. 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
$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
Fordham University - MS in Quantitative Finance

Fordham University

New York, NY 10023 MS in Quantitative Finance
17
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. 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
$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
Stony Brook University - Master in Quantitative Finance

Stony Brook University

Stony Brook, NY 11794 Master in Quantitative Finance
18
Total Score
61
Peer Score
2.4
Application Deadline: Dec 1

Stony Brook Quantitative Finance MS Review
When reviewing a university program, I like to focus on three main points: quality of education, career opportunities, and cost. 1) Education: This is probably where the program is at its best. Most of the coursework you will see at Stony Brook is well chosen. The... (more)
- Class of 2022
4.50 star(s) 2 reviews
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
University of Illinois Urbana Champaign - Master of Financial Engineering

University of Illinois Urbana Champaign

19
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. 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
$77,880
Enrollment
22 FT
Acceptance rate
48.5%
Undergrad GPA
Employment Rate
At Graduation
5%
After 3 months
66%
Compensation
Base
$102,600
Stevens Institute of Technology - Master in Financial Engineering

Stevens Institute of Technology

20
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. 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
$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
University of Minnesota - Master of Financial Mathematics

University of Minnesota

Minneapolis, MN 55455 Master of Financial Mathematics
21
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. 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
$43,995
Enrollment
19 FT
Acceptance rate
85.2%
Employment Rate
At Graduation
23%
After 3 months
62%
Compensation
Base
$76,500
Claremont Graduate University - MS in Financial Engineering

Claremont Graduate University

Claremont, CA 91711 MS in Financial Engineering
22
Total Score
53
Peer Score
2.1
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
Tuition
$81,576
Enrollment
6 FT
Acceptance rate
81.8%
Employment Rate
At Graduation
38%
After 3 months
85%
Compensation
Avg total
Rensselaer Polytechnic Institute - MS in Quantitative Finance and Risk Analytics
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
$58,290
Enrollment
13 FT
Acceptance rate
72.8%
Employment Rate
At Graduation
8%
After 3 months
18%
Compensation
Avg total
~ Illinois Institute of Technology - Master in Mathematical Finance

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
$52,450
Enrollment
6 FT
Acceptance rate
61.6%
Employment Rate
Compensation
Johns Hopkins University - Financial Mathematics MSE

Johns Hopkins University

Baltimore, MD 21218 Financial Mathematics MSE
NR
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. 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
$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
Lehigh University - MS in Financial Engineering

Lehigh University

Bethlehem, PA 18015 MS in Financial Engineering
NR
Peer Score
2.0
Application Deadline: Nov 15 (Spring), Oct 15 (round 1), Jan 15 (round 2), Apr 1 (round 3), May 15 (round 4)

Lehigh University's MS in Financial Engineering program provides a rigorous, integrated education in finance, mathematics, and computational methods that prepares students for successful careers in quantitative finance, risk management, and fintech, and I highly recommend it.
The MS in Financial Engineering program at Lehigh University is a rigorous and well-structured program that effectively combines finance, mathematics, and computational methods to prepare students for careers in quantitative finance, risk management, and financial... (more)
- Class of 2026
5.00 star(s) 22 reviews
Tuition
$45,000
Enrollment
13 FT
Acceptance rate
73.2%
Employment Rate
Compensation
~ Rutgers University - MS in Mathematical Finance

~ Rutgers University

Piscataway, NJ 08854 MS in Mathematical Finance
NR
Peer Score
2.5

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
$55,310
Enrollment
17 FT, 2 PT
Acceptance rate
49.1%
Employment Rate
After 3 months
56%
Compensation
Avg total
University of Michigan - MS in Quantitative Finance and Risk Management
Application Deadline: February 1

Introduction: I write this review from the perspective of a student who has a balanced mathematics and statistics background whose goals were to get a practical education in quantitative finance to use towards a career in the industry. 1. Curriculum: The core... (more)
2.67 star(s) 6 reviews
Tuition
$74,322
Enrollment
24 FT
Acceptance rate
35.7%
Employment Rate
At Graduation
37%
After 3 months
67%
Compensation
Avg total
University of North Carolina at Charlotte - MS in Mathematical Finance
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
$40,583
Enrollment
39 FT
Acceptance rate
80.6%
Employment Rate
At Graduation
25%
After 3 months
50%
Compensation
2021 Rankings Methodology
  • Published
    11/17/21
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