University of California, Berkeley - Master of Financial Engineering

University of California, Berkeley - Master of Financial Engineering

Leverage the connections of a top placement team and a world-class university to launch your career.
Location
Berkeley, CA
Application deadline
Four rounds, generally January, March, July, and October
Your entire Berkeley MFE experience is designed to give you the knowledge, experience, and connections you'll need to immediately launch a successful career in finance and data science. Fintech, blockchain, and artificial intelligence are just a few of the technologies disrupting the finance sector and our location in the heart of the Bay Area puts you at the center of all the amazing innovation taking place.

The Berkeley MFE Program at the Haas School of Business provides a depth of study in finance that reaches beyond basic business concepts to teach you how to combine modern portfolio theory with computational methods. Through the coursework, financial practice seminars, and tailored industry projects, you'll have many opportunities to learn firsthand how to apply these theories and methods to real-world situations. You will also benefit from the quality of students, breadth of activities, and network of impressive alumni contacts inherent to a top-ranked business school and a world-class university.

From your first day on campus, you benefit from access to a team of MFE-focused career specialists whose connections run both deep and wide across industries and around the globe. You also become part of the Haas Alumni Network— over 41,000 leaders influencing the future of business and finance. No matter which direction your career takes you, you can rely on the Berkeley Haas alumni network to connect you to the local community. Our students have gone on to work at companies like Goldman Sachs, Google, and Citadel to name a few.
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2024 Ranking Data
Rank
4
Total Score
91
Peer Score
3.9
% Employed at Graduation
84%
% Employed at 3 months
96%
Salary
$173,758
Cohort Size
76 FT, 11 PT
Acceptance Rate
20.8%
Tuition Cost
$80,486

Rating
4.48 star(s) 31 reviews
Students Quality
4.91 star(s)
Courses/Instructors
4.55 star(s)
Career Services
4.18 star(s)

Latest reviews

Headline
Good company relationships
Class of
2024
This program is perfectly suited for students that want to start their quant career without necessarily having lots of experience.
Compared to other MFEs I heard about (Columbia MFE, MIT MFinance, …), the career service has an impressive number of companies that directly reach out if they are interested in Interns / Full Time graduate students. This makes this MFE so special, - even if there had been some problems recently with the director leaving during the year - most of MFE students across the country have to apply by themselves and hence struggle more to get resume screenings.
Concerning classes, the quantity of the courses is heavy, so students that are tired of enjoying the sunny weather in California shouldn’t worry.
Recommend
Yes, I would recommend this program
Students Quality
5.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
5.00 star(s)
Headline
UCB MFE review
Class of
2024
As a recent graduate of the UC Berkeley Master of Financial Engineering program, I feel compelled to share my experience for those considering this path. While the program offers a rigorous curriculum and access to a network of professionals, there are aspects that could be improved.

Curriculum and Instruction: The academic rigor is undeniable, but the practical application of the coursework sometimes falls short. Theoretical knowledge is abundant, yet opportunities to apply these concepts in real-world scenarios were less frequent than I expected.

Career Services and Placement: The career support services were not as robust as I had hoped. A significant turnover in the placement team during my tenure led to a disorganized job search process, leaving many of my peers and myself feeling unsupported in our career aspirations.

Cost and Value: The financial investment in the MFE program is substantial. While I understand the prestige attached to the Haas School of Business, the return on investment is a crucial factor that seems to be glossed over during the admissions process. Prospective students should carefully consider the cost-benefit ratio of this program.

Overall Experience: While I value the knowledge gained and the connections made, the program's execution did not fully meet my expectations. Future improvements in career support, practical application of skills, and a more inclusive culture could enhance the experience for upcoming cohorts.
Recommend
No, I would not recommend this program
Students Quality
4.00 star(s)
Courses/Instructors
3.00 star(s)
Career Services
3.00 star(s)
Headline
Fiona sucks
Class of
2024
I’m a student just graduated from the class of 2024. I would say that this program is not worth it after Linda leaves. The new executive director quitted halfway and the former associate was promoted. But she has no idea about the quant industry and limited career connection. The whole career office provides limited support and service with the current students because their lack of industry experience and understanding towards the knowledge required in the financial markets. Everything becomes even worse when the job market performs bad in recent years. The only thing that the new director is doing is to seek jobs via LinkedIn and Handshake then email the students to apply for such positions. I would say anyone that holds a high school degree can do this job. When students approached her regarding the employment data she just bullshits. I really hope Linda to be back and save this program.
Recommend
No, I would not recommend this program
Students Quality
5.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
2.00 star(s)
Headline
Was great once, now mediocre at best
Class of
2024
I am from the 2024 graduating batch and hence, my opinion will be biased by the way that year was:

Good:
1. Good and diverse peer group - engineers, statisticians etc. 1 had a PhD as well - for many it was their 2nd masters
2. Faculty knowledge - faculty is great, Lettau, Walden, Wallace are GOATs in their fields
3. Great Californian weather
4. Courses are very hands on - if you do all the assignments yourself, you're leaving this program as a very well equipped quant
5. Linda is the queen - she will help you in every way possible - it is very unfortunate that she is no longer leading the program

Bad:
1. Very unprofessional placement team: the director left in the middle of the program, when more than half the batch was unplaced. he did not even wait till a replacement was hired and as a result the placement season was very bad. I thought these actions were very unprofessional. They just got a new director - 7 months after- and she was the old directors deputy. If you're not in her good books, she is not very helpful and can prove to be counter-helpful too
2. 1 year is simply too compressed - each term is 8 weeks and it is simply not feasible to learn graduate level coursework in a good manner in such a short period
3. Grade deflation - the median/mean GPA at Haas MFE is 3.4 which is substantially lower as compared to other MFE prpograms. This is a problem while interviewing with firms that focus on GPA
Recommend
No, I would not recommend this program
Students Quality
5.00 star(s)
Courses/Instructors
4.00 star(s)
Career Services
3.00 star(s)
  • Anonymous
  • 5.00 star(s)
Headline
Impressive program
Class of
2024
Berkeley MFE is a perfect program for students who are going to pursue a job in the financial engineering industry. The curriculum design, the career support, and the reputation of this top MFE program are quite impressive.
Recommend
Yes, I would recommend this program
Students Quality
5.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
5.00 star(s)
Headline
Awesome Program
Class of
2024
I believe the program is quite effective for those who have clear goals in terms of the Asset class they want to work in or the kind of strategies they would want to implement. It's a rigorous program and not a place where you can throw everything on the wall to see what sticks. Regarding the Director's departure, it's actually beneficial for the program, as it was struggling under his inexperienced leadership. Although placements have been challenging this year for everyone, securing a job is much more comfortable with this program as compared to other MFE's.
Recommend
Yes, I would recommend this program
Students Quality
5.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
5.00 star(s)
Headline
Program on a decline!
Class of
2024
I graduated from this program in 2024 and I have to say that I was very disappointed with the career services. The program director left the MFE program in the middle of placements (sometime in November iirc) and there was no replacement hired. Afaik there is no replacement yet. This was very unprofessional and made a tough job environment even tougher. Apart from 2-3 professors, others dont put effort in teaching. Subject matter taught in the courses is very superficial which is expected since each course is not even taught for 2 months
Recommend
No, I would not recommend this program
Students Quality
5.00 star(s)
Courses/Instructors
3.00 star(s)
Career Services
3.00 star(s)
Headline
Phenomenal program
Class of
2022
The MFE is one of the top financial engineering programs and has been since it was started by quant finance legend Mark Rubinstein. The program has maintained its pedigree by employing world class faculty and updating its curriculum to keep up with rapid innovation in the industry. In addition to its traditional quant classes, the MFE has expanded its course catalog to incorporate deep learning, AI, and even a crypto class that straddles the boundary between finance and tech. Due to its location and course catalog, the MFE is well equipped to provide various skill sets depending on each individuals career interests. Between the world class faculty and my diverse cohort of students attracted to the MFE, I had countless opportunities to learn from both my professors and my classmates. The program is incredibly well designed to encourage as much collaboration as possible to encourage you to get to know your classmates and to replicate the experience of working in a professional environment.

The only part of the program that I found less than ideal was that the timeline was a bit awkward. The program starts in March and ends in March with a winter internship period which is fairly atypical. I arrived the first week and found myself immediately applying for internships over the summer and during our winter internship period before I had covered any of the coursework. Despite this, the career advisers have managed to convince firms to create winter internships cycles specifically for this program. It’s not as robust as the traditional summer timeline but it does mitigate some of the opportunities missed from the misaligned timeline. That being said, this timeline isn’t without its perks; it’s only one year long and limits the opportunity cost of spending time in school in lieu of earning a salary and therefore makes it financially more reasonable in the long run than some of the alternatives.

All in all I was extremely thrilled with my experience (despite the whole COVID restrictions and limitations while I was in school) and would strongly recommend to any potential applicant.
Recommend
Yes, I would recommend this program
Students Quality
5.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
5.00 star(s)
Headline
Strongly Recommended
Class of
2023
Just graduated from UC Berkeley. Excellent professors, seamless exposure to industry gaints, abundant career resources make it one of the wisest decisions for me to choose Berkeley MFE program.
Recommend
Yes, I would recommend this program
Students Quality
5.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
5.00 star(s)
  • Anonymous
  • 5.00 star(s)
Headline
Great program with great people
Class of
2023
Joining and completing the MFE at UC Berkeley is a challenging and greatly rewarding experience. The program will give students all the tools they need in order to succeed in the quantitative/data industry in a short, intense time. Career services make themselves available at all times and provide valuable advice and great interview opportunities.
Recommend
Yes, I would recommend this program
Students Quality
5.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
5.00 star(s)
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