Stevens Institute of Technology Financial Engineering program

Stevens Institute of Technology Financial Engineering program

Established
2002
Type
Full-time, part-time
Tuition
$50,210
Application deadline
Fall: Apr 15 (int'l), Jun 1 (domestic). Spring: Nov 1 (int'l), Nov 30 (domestic).*
Location
Hoboken, NJ
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 other leading institutions. The average starting salary was $95,588 for 2021 graduates.

Located a few miles away from New York City's financial district, Stevens financial engineering program is informed by the latest developments in fintech and trains students to be innovative professionals in areas such as risk management, securities valuation, investment strategies, computational techniques, trading, and portfolio management.

In addition to the financial engineering master’s degree, Stevens inducted the first PhD program in FE in the United States in 2009.

Stevens students have access to world-leading resources provided by the Hanlon Financial Systems Center (the “Hanlon lab”), where they can get hands-on experience using the Bloomberg terminal – an invaluable skill in today’s financial world, and a number of key programming languages, including Python, R and SAS, which help them gain the edge in an increasingly competitive job market.

Our newly established Center for Research toward Advancing Financial Technologies (CRAFT), co-sponsored 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.

Students benefit from working closely with faculty and the program director who mentor them, connect them with industry professionals and teach them important skills to succeed in their careers.

The master’s program requires graduates to complete 10 courses equivalent to 30 credits. With four focus areas: Quantitative, Financial Software Engineering, Financial Information Systems and Financial Systems Engineering, the program curriculum is designed to be practical with a strong theoretical base.

Admission deadline
Stevens has rolling admission with separate deadlines for international and domestic applicants
Application Management

Admissions & Statistics
YearApplicantsAdmittedEnrolled
Applicants with solid quantitative backgrounds in economics, mathematics, statistics, computer science, science and engineering are encouraged to apply for the graduate program. All candidates are required to submit GMAT or GRE scores with their application; part-time online students with work experience may be eligible to waive this requirement. Admission to the Financial Engineering program is extremely competitive, and only students with excellent test scores will be considered. However, it's important to keep in mind that your test scores are only one feature of your application and will be considered along with your other credentials. International students also must include TOEFL or IELTS scores along with their applications. Applicants must also submit academic transcripts and letters of recommendation.

Tuition
The program is 30 credits, with student traditionally take the 12/12/6-credit semesters format.
Tuition for 2022 is $19,038/semester for 9-12 credits/semester. Credits over 12 or under 9 are billed at $1768/credit.

Author
smastroi
Views
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First release
Last update
Rating
4.19 star(s) 16 ratings

Latest reviews

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.
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.
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.
  • 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.
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 :)
Good resource, good location, excellent professors. Near NYC, good access to intern and work opportunity.
As a Phd student in Financial Engineering, I would like to say Stevens has one of the best financial labs in the US. Our corporate partners are ConvergEx, Bloomberg, ICAP, Reuters, Gain Capital, etc. The high-frequency financial data from Reuters Tickhistory and News Analytics strongly support my research.Our professors have projects from Sloan Foundation, SEC, CFTC, ICAP, Accenture, Deloitte and many other places. The graduate students have chance to go to Jefferies for an intern as part of FE800 course. Co-op program is also available to FE students.
Excellent program, good location and nice professors! I was a master student of financial engineering at Stevens. It is definitely a good choice for you! Despite of the fierce competition in the job market, I got an internship and job as a Quant after graduation.
Good resources. Extensive quant courses. Good professors.
I am doing MFE from stevens and i believe there are various things i like and don't like about the program.

Likes:
1. This program is inclined towards mathematics, which gives people enough mathematical power to face real world quantitative challenges.
2. Weekly Financial Engineering workshops, allows students allows students to breath real world oxygen.
3. Recently they started dedicated Lab classes for Fin. Engineering students, to enrich their quantitative tools that are must for Quants / Risk Managers (i.e. C++, Bloomberg, Thomson Reuters, SaaS etc).
4. Stevens is known for building standard in mechanical industry and project like ACTUS allows them step into standardizing financial contracts as well.
4. Web Campus is a big plus for working professionals.
5. Most of the teacher are working in that industry and they are bringing valuable experiences to the desk.

Don't Likes:
1. Career Placement is the weakest part of the program, but i am glad that they have hired some good people for student outreach to fix this.

Before starting my MFE, i was already working for Energy Trading and Risk Management company, but i was able to attract people from various financial institutions and Hedge funds.
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