Stevens Institute of Technology Financial Engineering program

Stevens Institute of Technology Financial Engineering program

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Application deadline
Fall: Apr 15 (int'l), Jun 1 (domestic). Spring: Nov 1 (int'l), Nov 30 (domestic).*
Stevens Institute of Technology has been a rapidly rising leader in business education, ranking #14 for value for its business master's programs by the Georgetown University Center on Education and the Workforce (2022). 100% of our finance engineering master's students in 2021 and 2022 were employed six months after completing their program. Stevens FE graduates hold key positions at Barclays, Citibank, Goldman Sachs, JP Morgan Chase, Met Life, Prudential, UBS and many other financial institutions, from buy side or sell side. The average starting salary was $95,588 for 2021 graduates. In 2022 this average rose to $99,443.

Located within eyesight of the New York City's financial district, over the Hudson river, Stevens Financial Engineering program incorporates the latest developments in the financial services industry. Students enrolled in the program complete a rigorous set of six core courses (18 credits). For the remaining 12 credits they may choose to follow any of our elective courses some of them centralized in our certificates. Details may be found at our courses page: Courses

We are very proud of our courses which are constantly evolving. The resource linked above contains very detailed information down to who taught the class most recently as well as a week by week schedule of the material. All students are required to complete our capstone class, which unlike many other programs require students to provide a weekly update on progress in front of their peers. This leads to very interesting projects some of which are featured on this page: FE 800 Selected Projects

In 2009 Stevens created the first Ph.D. program in Financial Engineering in the United States. Its graduates now feature in prominent roles on Wall street and as educators for programs related to FE. Many of our Ph.D. alumni are graduates of the MSFE as well.

The Hanlon Financial Systems Laboratories were creates in April 2012 to support our Finance programs. Today the labs support a large number of classes Hanlon Lab Calendar where students learn key programming languages, including Python, R, SAS ,and C++, which help them gain the edge in an increasingly competitive job market. The lab also has a large set of available financial databases: Databases - Hanlon Financial Systems Center

The newly established CRAFT the Center for Research toward Advancing Financial Technologies, funded by the National Science Foundation, offers students an amazing opportunity to delve into research in the rapidly evolving world of fintech and to network with other academics and industry professionals. The center established by a collaboration between Stevens and RPI is the only Industry University Research Center (IURC) funded by NSF in the area of Finance. The center has over 15 industry partners at the date of writing this post, and others are constantly being added.

In 2018 the FE programs moved to the Stevens School of Business. Our students now benefit from a dedicated team the Corporate Outreach and Professional Advancement (COPA). The FE students therefore are exposed to the same opportunities as the rest of the School of Business and are often preferred due their very strong technical skills.

Admission deadline
Stevens has rolling admission with separate deadlines for international and domestic applicants. This is the application link for the graduate programs at Stevens. Application Management
For more information please consult the Hanlon web site listed above. This is the FE department site. We have two other related programs: the M. Sc. in Financial Technology and Analytics, and the M. Sc. in Finance.

All full time applicants are required to submit GMAT or GRE scores with their application. Part-time students do not need this score. International students also must include TOEFL or IELTS scores along with their applications. Applicants must submit a statement of purpose, academic transcripts and letters of recommendation. Excellent applicants will be considered for our merit based scholarships.

Tuition
The program is 30 credits, with student traditionally take the 12/12/6-credit semesters format. The most up to date tuition costs may be found at this page: https://www.stevens.edu/tuition-fees-and-costs (scroll down)

The current (as of writing 2022-23) costs are listed here: Tuition costs 2022-23
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Disagree with the person leave 1 star review about Chinese students. This program lacks of diversity is true, mainly Chinese and Indian people here. I was graduated couple years ago, some Chinese are really hard-working students, few of us was able to get a job to stay in US. Most of my friends got decent job and one of my Chinese classmate even just got an offer with 500k salary+bonus just before 30-year-old. The program is worth to get in, but it will heavily depend on how you treat the time you spend here, you can choose to waste it or actually learn something benefit yourself for life. Choose your career and friends wisely.
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T
The program is rigorous and heavy with stochastic calculus and probability and set theory. Make sure you have a solid back with math or stem and some coding will go al long way.
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A
I would absolutely recommend the Stevens MFE program. It is top-notch in terms of flexibility, courses offered, and convenience to the city.

I chose this program in 2016 when I lived in Atlanta over other programs in large part because it allowed me to start remotely. I ultimately received a job in NY during my program, and finished the rest of the courses in person. I highly recommend taking as much as you can in person because it allows you to connect with students, faculty, and others in the industry.

The MFE program offered courses at night, which was critical to my ability to engage part-time. The campus is also about 45 min by train from midtown Manhattan - which is also really important to those working.

I thought that the majority of the faculty was well-credentialed, great tutors, and accessible. A few in particular still serve as valuable mentors. The administrative staff is also great, as is the career services office.

I also liked the design of the coursework. One is required to take the core classes as with every MFE degree (stochastic calc, derivatives, computational finance), but the elective tracks are categorized in sensible fashion. I chose to focus on time series/statistics, and the courses along this track were extremely helpful. I've found the content of several of the courses (Portfolio Theory in particular) as critical in my current role. I would encourage the faculty to continue to develop more courses, particularly in new areas of 'quant' like machine learning and data science.

I absolutely recommend this program.
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C
I did my MFE from Stevens, The program is well designed and has best faculty. It has helped me learn and develop the skills which are helpful in real world. The University has the best resource to help study and research.
And huge add on was my professor and career development team helped me and provided all the support while I was looking for job.
I would suggest and recommend Stevens for MFE program.
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Aishwarya Suresh
Good course. Proximity to Wall Street is a huge boon since the alumni are well recognized there. Extremely helpful and experienced professors who are interested in making sure the graduating students are well placed in the industry.
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The fees are much higher. Some of the instructors are corrupt and incompetent. I would stay away from this place.
quantnet website filters out bad reviews. This review will be removed in few days.
The positive reviews that you see below are the TAs who worked in the Labs and got a free ride for their PhDs.
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  • Anonymous
  • 1.00 star(s)
Avoid this school's mfe program at all cost. This program lacks of diversity and most of students are Chinese. These Chinese students use their own social media wechat spread gossips, rumors and scandals, probably because most of Chiniese students' main focus is dating instead of study. As a result, they think every student are busy dating. They fail to adapt to US society and even can't speak English. They stick to each other wherever they go and use their arcane language to spread rumors, gossips and scandals. Please don't say I am a racist, because I myself came from China too, that's why I know their secrets, and I feel I have the responsibilities to expose them so that prospective students can make better judgement based on the information I provided.
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  • Anonymous
  • 1.00 star(s)
Likes:
1. Most profs are good and knowledgeable.
2. Good location.

Dislikes:
1. Career services are horrible, but they are working to improve it albeit very slowly...
2. The program intakes way too many students compared to other programs, hence the overall quality of the students is horrible. This makes most courses relatively easy and often uninteresting, and in particular deteriorates the reputation of the program.
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Xiaodi Zhu
I was a master student here and transferred to Ph.D. I would like to recommend the study resources here, such as our financial lab, databases, etc. There are a lot of chances for you to improve your skill and knowledge from different aspects. The whole department are looking for all possible ways to make the program better and better. BTW, the professors are all really kind people :)
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A
Good resource, good location, excellent professors. Near NYC, good access to intern and work opportunity.
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