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.

Overview Rankings Jobs Admissions Tuition Applications Reviews (37) Discussion
Leave a rating
Location
Berkeley, CA 94720
Application deadline
Four rounds, generally January, March, July, and October
The program was launched in 2001.
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.
  • Like
Reactions: JAP and tussharr
2025 Ranking Data
Rank
4
Total Score
88
Peer Score
3.6
% Employed at Graduation
79%
% Employed at 3 months
92%
% Employed in the US
83%
Compensation
$168,263
Cohort Size
76 FT, 10 PT
Acceptance Rate
18.0%
Tuition
$82,901

Views
69,196
First release
Last update

Ratings

4.49 star(s) 37 reviews 4.35 star(s) Students Quality 4.53 star(s) Courses/Instructors 4.12 star(s) Career Services
Join the discussion Visit Program's Website

Share this resource

Latest reviews
Headline
Be ready for a new announcement
Class of
2024
The program and Linda have managed to rope in a big figure as the new Director, this will make the program substantially better than it was for the past few years.
Recommend
Yes, I would recommend this program
Students Quality
4.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
4.00 star(s)
Upvote 0 Downvote
Headline
A program in decline
Class of
2025
Admission process was fairly easy. Just a technical with an alumni. Instructor quality is distributed. Most are good. Few were horrible. Was surprised to see such poor quality professors in such a reputed program. Career services are non existent. The MFE program has no current director and no career services head. Administrative staff is entirely running the program. Consequently, no companies are coming. Anyways, Berkeley MFE has a bad reputation among employers. They have literally let anyone in. Some students are smart tbh. But at some students you will feel how did they even cross the bar to enter. In short, avoid joining the Berkeley MFE unless you just want it as a visa ticket. Expect no help in placement and minimal learning in this tightly compressed program.
Recommend
No, I would not recommend this program
Students Quality
2.00 star(s)
Courses/Instructors
4.00 star(s)
Career Services
1.00 star(s)
Upvote 0 Downvote
Headline
Superb MFE Program with Great Connections
Class of
2024
Although there was a little bit of turmoil going around the staffing issue, I still find the MFE program at Berkeley amazing. Fiona and the MFE office still maintained the connections with the top companies, and that definitely helped me land a decent job. As long as you keep working on honing your interview skills, you'll be successful.
Recommend
Yes, I would recommend this program
Students Quality
3.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
5.00 star(s)
Upvote -5 Downvote
  • Anonymous
  • 3.00 star(s)
Headline
Lots of Potential With Many Flaws
Class of
2025
I have seen lots of very positive reviews pop up lately which seem a bit suspicious so I am leaving one because of that.

This is a program with a lot of potential but there are many flaws that it seems they have not bothered fixing despite students complaining for a long time. I find that the previous reviews don't mention problems students actually have with the program and don't give appropriate info for incoming students to make a decision that is best for their career.

Pros:
- Professors are world class researchers and very prominent in their fields
- helpful and responsive alumni network
- rigorous and in depth courses that focus on very relevant material to what is actually done in industry


Cons:
- World class research doesn't translate into world class teaching, some professors are not great lecturers, they are only made even more ineffective by long lectures. All lectures are at least 2 hours long, some classes have lectures up to 4 or even 6 hours long.

- The curriculum is very rigorous but only 1 year long. This translates into a very large amount of work for students. There has been quite little outings and socializing in our batch since the start of the program because everyone is busy even during weekends. The only down time you get is after finals which is usually filled with interviews and OAs. Slowing down the pace, even a little, would greatly benefit the students.

- You are graded on a curve, there is a lot to this so there are 3 parts.

Part 1: The maximum allowed GPA in any class is a 3.5, so half of the class will have below a 3.5 (at best). This creates a competitive environment between students. This has ugly side effects mainly exams that are made harder than they should be to spread the curve, often the difficulty comes by adding content only briefly covered in class greatly benefiting students who have a better background. TLDR your grade doesn't reflect what the professor taught you but what you know relative to your peers.

Part 2: Everyone gets full marks on homework (you still have to do everything correctly, its not free points), which is very time consuming, this means that doing the homework is bare minimum for any class. That also means that the homework weight is irrelevant since the spread comes from exams. If your homework is 60% and everyone gets an A, then effectively the final exam is 100% of your grade. TLDR: Poor test takers are brutally punished by this program.

Part 3: Cheating. The vast majority of the class is honest and doesn't cheat.
Having spoken to alumni who over graduated over 10 years ago, the cheating is still a problem (I was extremely surprised when they complained about the exact same issue we have now). The issue is there is a very well established flow of Chinese students for a fixed set of universities. They have exams and solutions passed on from previous years, and the exams change little year over year. So they effectively have the answer key to the exam which is 100% of your grade, and you are graded on a curve. Similarly, some students have past years' homework solutions meaning they spend much less time on work and have time to interview, and prepare better. In a way I can't blame them for cheating, but the fact the program has not fixed this in over a decade is upsetting to both me and alumni. We have already had this happen on a few exams this year, even with evidence no punishments were given to anyone.

- Many students feel somewhat mislead on the internship availability. We were told not to worry about finding internships in the beginning and many didn't apply for summer opportunities because of that (since we are forced to study full time alongside the internship in the summer). However, it turns out that we should have been quite worried. This year there have been virtually no postings for fall internships on sites, there are very few opportunities and we are completely reliant on the program to bring us the ones there are. There were actually very many opportunities, but it was offset by the second point. To compound the problems, firms chased after the top students who rejected many offers, in turn this causes those firms to take no interns at all and leave, screwing over other students. The program should have been much more strict with this behavior. Why are students who get top summer internships still allowed to stay in the fall pool and out compete other students?

Conclusion:
Overall, I somewhat regret attending this program to be honest. So far it has been very stressful and expensive. I am learning a lot, that is true, I feel like I have a good grasp of the concepts I am being taught and the classes are very interesting, but getting high marks is very difficult. I feel that my deflated GPA has hurt my chances at finding a job more than a masters degree on my resume will help.

The bad market and fall internship cycle have made searching for internships very difficult.

This program is basically a recruiting opportunity with classes, I wish it was better communicated that you must be completely ready to recruit for quant roles prior to enrolling the program. You will not have time to prepare once the program starts.
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)
Upvote 11 Downvote
  • Anonymous
  • 5.00 star(s)
Headline
Top Quant Finance Program
Class of
2024
I truly believe Berkeley MFE is one of the top quant finance programs. It will help you launch a career in this highly competitive field. No program is perfect, but I believe Berkeley MFE comes very close.

Coursework:
Quant Finance is huge and it is impossible to teach everything. The coursework does a nice job of helping students build the ABC of quant finance and then tries to supplement it with more specialized courses. The coursework did an exceptional job at laying down a strong base (empirical finance/stochastic calc), which didn’t just help with interviews, but is absolutely necessary if you are going to work in a top QR/QT role. It did a good job of covering specific asset classes and advanced topics (Fixed Income/HFT/Active Portfolio Management). I would love to see more options in advanced coursework.

Students:
I loved being part of a diverse and talented cohort. The fact that most people enter the program with existing work experience makes getting to know everyone and working alongside a diverse skillset highly rewarding. Most people in the program were exceptionally talented and I made amazing friends here. You do compete with some of the best people in this field for a whole year, but you will appreciate the outcome.

Career Services:
The program office does everything under its control, to ensure you get the possible interns and full-time placements. They are proactive in interacting with the students, figuring out what is in their best interest, and reaching out to employers with the best opportunities. The job market wasn’t in the best shape in 2023-24, but the program office didn’t give up and did vastly better than most of the other programs. There were some changes in the team towards the end of 2024, but their dedication to the students didn’t change.

My verdict:
This program is no golden bullet for a best-of-the-best quant finance role. It gives you the right tools and support, to be able to shape your career trajectory. If you believe you are talented and ready to work hard, Berkeley MFE should be one of your top choices.
Recommend
Yes, I would recommend this program
Students Quality
4.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
4.00 star(s)
Upvote -7 Downvote
Headline
Experience of a lifetime, from career boost to long-lasting relationships
Class of
2024
This is a great program as much in terms of curriculum, quality of teaching, and career support. I started the program with limited financial experience and developed a deep knowledge of various asset classes and some of the most complex topics such as Derivatives and High Frequency Trading, both of which are electives that you can take during the program.
Put in the good work, be humble, and use the many opportunities to learn. The career service is always available and you can book a time slot on their calendar. They post frequent job postings, monitor every student’s interview status, and leverage a large Alumni base and connections with recurrent employers, among which are the biggest names in the Banking, Asset Management, and Hedge fund space.
The program provides opportunities to gain experience, from academic and industry projects to multiple events and competitions throughout the year to help students stand out. You can also enjoy UC Berkeley’s resources, including in-person forums, and take classes from different departments (like DeFi, an EECS course organized by Christine Parlour), you simply have to be curious and proactive.
The classes are varied and cover different topics, from more math-oriented courses (Empirical Methods and Stochastic Calculus) to financial assets (Equities, Currencies, and Fixed Income) and Machine Learning. There are some extremely bright, motivated students with whom to do group projects, and the teachers are always happy to discuss course content and the industry in general. The grading is very fair.
Overall, it was an amazing experience, a career boost offering professional opportunities I would never have had otherwise, I learned enormously even on topics in which I already had experience, and on top of that it was a unique opportunity to make great memories and create long-lasting relationships.
Recommend
Yes, I would recommend this program
Students Quality
4.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
5.00 star(s)
Upvote -6 Downvote
Headline
Program delivers beyond what was advertised
Class of
2024
The UCB Haas MFE program was the perfect preparation for my quant career. Although very intense, the program is equally rewarding.

One of the things I enjoyed was the breadth of electives, allowing you to tailor the program to your needs. This included both new topics such as DeFi and deep topics such as High Frequency Finance. We also got the opportunity to work on real problems early on in the program through industry projects.

Beyond from the content, the program boasts a great faculty. The nice blend of reputable academics and seasoned professionals ensures that the coursework was not only academically sound, but also practically relevant.

In my experience, the career service and program team, both old and new, did an excellent job. It's then also disappointing to see the negative reviews targeted towards them.

It's widely known that 2024 was a not so nice year to find a job in the quant world, but this did not change the relentless effort that the MFE team put into supporting us.

I still use what I learned in the program on a daily basis in my current job. I can only recommend this program to anyone who wants to break into the quant world.
Recommend
Yes, I would recommend this program
Students Quality
4.00 star(s)
Courses/Instructors
5.00 star(s)
Career Services
5.00 star(s)
Upvote -6 Downvote
Headline
Amazing Program
Class of
2024
Just graduated from UC Berkeley. It was certainly one of the most fruitful experiences of my life. Excellent professors who are industry experts, brilliant peers and amazing career service. Jacob and the career team were available 24 hours a day to help students get their preferred internships/jobs in reputed firms in the industry. Their guidance on networking and handling different situations was a great learning curve over what is taught in classrooms. The program encouraged a lot of teamwork and that set the tone for our personal development as well. The only part where the program could improve is the duration of the program. Longer duration would help students absorb the topics better and help them work on more projects though graduating in 1 year has its perks.
For people interested in quant roles this is definitely the right place to be.
Recommend
Yes, I would recommend this program
Students Quality
5.00 star(s)
Courses/Instructors
4.00 star(s)
Career Services
5.00 star(s)
Upvote -4 Downvote
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)
Upvote -3 Downvote
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)
Upvote 6 Downvote
Read more…
Back
Top Bottom