Stevens Institute of Technology - MS in Financial Engineering

My Master's in Financial Engineering at Stevens has been an incredibly rewarding experience.The curriculum, enriched by faculty with significant industry experience at renowned firms such as Goldman Sachs, Bank of America, and JP Morgan, is truly exceptional. Stevens' professors are not only experts in their fields but also passionate mentors dedicated to student success. The small class size allows for personalized interactions, creating a supportive learning environment.


Stevens' program ensures graduates are industry-ready from day one, covering essential topics like options, stochastics, and portfolio theory. This foundation proved invaluable in excelling as both an intern at a hedge fund and a full-time employee at a major bank. The Fe800 course played a pivotal role in instilling confidence to create comprehensive financial projects from scratch and present them effectively to professors and classmates weekly. This skill proved indispensable during interviews. Although FE program is very demanding but if you are feeling more adventurous then the flexibility to take courses from the Computer Science department, such as deep learning courses, provided me with a well-rounded skill set. In my final semester, I opted for a course on applying Machine Learning in industry, proving instrumental in my career transition.

The career support at Stevens is commendable, with professors boasting high-quality industry connections facilitating interviews at reputed firms. Financial conferences and the high-frequency trading lab provide additional avenues for gaining knowledge about the broader finance landscape. The proximity to New York City enhances access to financial firms, job opportunities, and conferences.

While Stevens excels in many aspects, I suggest the institution focus on strengthening the alumni network and enhancing quant-specific interview preparation. This would further contribute to the overall success of graduates, ensuring they are well-prepared for the intricacies of the financial industry. Overall, my Master's in Financial Engineering at Stevens has been a transformative experience, equipping me with the skills and confidence needed to thrive in the finance sector.

I would highly recommend Stevens to anyone who is passionate about applying sensible innovation in their daily job through the application of finance, mathematics and coding. I was able to apply this developed skillset from the MFE program into the workforce immediately on senior levels and to think strategically and efficiently through financial systems to get the job done.

I was impressed by the faculty's openness of their academia perceptions being challenged within the classroom. Because of this, I was able to transfer this well-known skillset into corporate America very easily so that the status quo can be challenged as well.

I met intelligent classmates from every walk of like which suffice that the program highly values diversity in their program.

I was able to land a job offer in the field of my desire - Model Risk very quickly after graduation due to the risk management skillsets that were taught to me by faculty in the program and applied within my summer internship.

The MFE program is very intense and fast-paced which requires one to have solid coding skills from undergraduate or certificate program and financial mathematics skills to succeed. My favorite part of the MFE program was deciphering the concepts in well-known research papers and coding them through appropriate coding packages to great a final outcome.

I would recommend Stevens to anyone who has a passion for learning financial pricing of derivatives. I was impressed by some of the faculty who had industry experience in New York at well-known companies (Goldman Sachs, Bank of America, JP Morgan, .. ). These faculty also hold PhD’s in complex fields such as Physics, Mathematics, Operations Research & Financial Engineering.

Every student I met who was a US citizen received a job offer in New York at a well-respected company (Citadel, Capital One, UBS, Prudential). It’s possible to attend Stevens and receive a quant related job offer! Stevens also has a strong reputation. If you talk to anyone, and mention the name Stevens, the response will be the same: “Wow, Stevens is a great school!”

The MFE program is very fast paced! If you’re considering attending Steven’s here’s my advice:
- Enroll in this program if you’re familiar with Python & R programming. Most of the classes are applied, which is amazing! You’ll create Python programs to solve real problems, but if you don’t know the basics of Python, then you’ll be over your head.

- Enroll in this program if you have a strong math background (Calculus 1, 2 & 3, and Theory of Probability). The Stochastic Calculus class is difficult. The program is very accelerated, so there isn’t time to ask questions about calculus. I personally struggled in this class, and there aren’t many great resources online. Many students struggle in this class too. The TA’s aren’t available to help students, and the faculty are very busy teaching class.

- If you’re a US citizen, especially if you’re native to the New York area. Then there’s strong chance you’ll get a quant job offer.

- If you’re NOT a US citizen, then getting a job after graduation, could be difficult. Most employers do not want to sponsor visa. This isn’t a reflection of Stevens, but it’s a consideration for any potential student.

- If you’re NOT a US citizen, then strongly consider attending the MFE program, which could be a stepping stone into a PhD program! The PhD students at Stevens have a high success rate for internships, and job offers, because the jobs they are applying for more advanced jobs.

I joined the MFE (Master's in Financial Engineering) program in the Fall of 2021. I strongly recommend this program to anyone wanting to break into the Quantitative Finance landscape while possessing a strong quantitative background (Engineering, Mathematics, Computer Science). But beware, it is a highly demanding degree program if you want to do it the right way (all by yourself without plagiarism). Expect to get lost in the complexity of the concepts taught. Most of the course instructors are helpful in answering any questions that could assist in finding your way back. Get ready to conduct lots of self study to fully understand and comprehend the material.

FE610 Stochastic Calculus for Financial Engineers taught by Prof. Thomas Lonon is undoubtedly the most challenging and intellectually rewarding courses I have ever taken. It is a mathematically rigorous treatment of Stochastic Processes, Ito Calculus, Pricing Theorems and their applications. Prof. Lonon is very diligent, meticulous and precise in his pedagogical approach. Regardless of whether you are going use Stochastic Calculus in your professional life, it is one brainteaser of a subject that drills and trains your mind to become capable of understanding any complex idea that comes its way. It makes you a remarkable learner.

FE620 (Pricing and Hedging) and FE621 (Computational Methods in Finance) are two other great courses that complete your Financial Engineering education. Taking a programming lab course concurrently should assist you in finishing them.

Personally, I thought that some of other core courses- FE680 Advanced Derivatives and FE630 Portfolio Theory and Applications could have been made optional. Other optional courses offered on Time Series Analysis, Statistical Learning, Market Microstructure and C++ Programming in Finance that are highly sought after in the industry should be made compulsory.

Career services needs a lot of work. It is understandable given the complexity of the field and subject. The Program Director was extremely helpful in my job seeking journey giving various suggestions and organizing networking events. Overall, a very underrated program that is very intellectually rewarding and career defining given that you are willing to put in the tremendous effort while demonstrating patience and resilience.

I attended the Financial Engineering program at Stevens Institute of Technology and found it to be an excellent investment. The program’s comprehensive curriculum on Quantitative Finance, along with practical projects and assignments, has been invaluable in my career. Even after 5 years of graduation, I still showcase the skills I learned in job interviews.

I had a great experience completing the MFE program following my undergraduate degree in Quantitative finance at Stevens. The professors were very helpful and I enjoyed the courses taken. Not only were they knowledgeable about the material but they also provided me with career advice when asked which helped me when obtaining internships and my full time role. Overall, I really enjoyed my time at Stevens and would recommend the MFE program!

My graduate experience at Financial Engineering at Stevens Institute of Technology has been great, nothing short of phenomenal. From the rigorous academics to the thriving sports, events and innovative teaching methods, this school truly has something for everyone.

My professors are the heart and soul of Stevens business school. They're not just experts in their fields, they're passionate mentors who are genuinely invested in your success. Some of them are from Ivy League, some of them are from one of the biggest firms in the industry such as Goldman Sachs, JP. Morgan,.. I've never felt like just a number in a lecture hall, my professors have always made themselves available for one-on-one guidance and support.

After graduation from Stevens, my friends and I received jobs offers such as quant research, trading, quant developer, data analyst, or financial consulting. The supports at Stevens is extremely valuable if you work hard and start your job search early. Your effort plus support from Stevens make you successful. In addition, if you are an international student, you have to find not only a job but also the sponsorship early while still being a student, allowing you to work in the US due to the short timeframe and issues might happen during extending your STEM. This will save time for you and your future employers. I believe each of us is unique and can always be successful in your own way. If you growing up favor topics in math, coding, and finance, then the quant program at Stevens will help you reach your fulfilment and be nearer to your career goals.

I had an excellent experience in this program. Coming in with a Mechanical Engineering Undergraduate Degree, also at Stevens, I was very worried about how I would be able to handle the transition into the Business school and was doubting my decision to do so. However, I found that I had excellent support from the professors and dean of the program, who helped me with anything I had trouble with from scheduling, course selection and content, all the way through to job search and opportunities upon graduation. The program was challenging and set me up very well for my career as a Data Analyst.

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.

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.

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.

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.

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.

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.

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.