I think the strengths and weaknesses of this program are both very clear. It’s not suitable for everyone, but if its advantages happen to match what you’re looking for, then it’s an excellent program.
1.The schedule is highly flexible, you can complete the degree anywhere from 1.5 to 5 years.
2.You have great freedom in course selection, even if you don’t take any classes in a given semester to do an internship instead, that’s totally fine.
3.(Favorite point) The tuition is very low. Almost negligible compared to MFE programs in the UK or the US.
4.It’s a dual-degree program between UZH and ETH, supported by UZH’s Department of Finance and ETH’s Department of Mathematics. The curriculum is comprehensive.
5.You can take courses from any program at either university, from machine learning and reinforcement learning, to highly theoretical math courses, to traditional finance courses like investment management. Some students even choose courses such as football data analysis, art history, purely based on their interests.
6.The students in the program generally have very strong undergraduate backgrounds, typically the top of their cohorts from top universities around the world, including Cambridge, Princeton, and Politecnico di Milano.
7.The program enjoys high recognition in the Europe. Alumni often organize gatherings, and the network is very strong.
8.The cohort is highly diverse in terms of nationality. Students come from all over Europe, as well as from countries such as China, India, Mexico, Japan, South Korea, Lebanon, and the United States, etc. Each year, around 50–60 students are admitted.
9.The courses are extremely difficult and highly theoretical, somewhat disconnected from market needs. That said, they do provide an excellent foundation if you plan to pursue a PhD.
10.The integration between finance and mathematics is not very strong. The math courses are purely theoretical, while the finance courses don’t take into account students with a math background. Around 90% of the class consists of math students, so it’s common to have trouble following the finance courses at UZH. On the other hand, some ETH math courses assume students have already studied advanced topics like functional analysis, something rare in MFE programs in the UK or the US.
11.There are few industry-oriented courses or projects; most of the content is very abstract and theoretical. As a result, you might complete a year of study without having any practical, industry-related projects to put on your CV.
12.Regarding job prospects, the Swiss job market is small and highly competitive. Moreover, visa restrictions make it quite unfriendly to non-EU students. However, it is relatively easier to find opportunities in Germany. Before the pandemic, most non-EU students were able to stay in Switzerland after graduation. However, since the pandemic, it has become much more difficult. It seems that only a few non-EU students have managed to stay in Switzerland, while the others have gone to places like Germany, Netherlands, London. For most non-EU students who wish to stay in Switzerland, the chances of entering major banks such as UBS, ZKB, or BNP are almost zero, partly because these positions usually require proficiency in German or French, and partly due to visa restrictions. Those non-EU graduates who do manage to stay in Switzerland typically start their first job at a small company or a startup, and only after gaining some work experience and securing a proper work permit do they move on to larger firms.
13.The career-oriented atmosphere among students is rather mild. Unlike MFE programs in the UK or the US, there isn’t a strong collective focus on job hunting, and you often feel like you’re fighting the battle alone when looking for positions. In contrast, the academic atmosphere is quite strong, with roughly one-fifth of non-EU students continuing on to pursue a PhD. In addition, the program requires a six-month, 30-credit master’s thesis, which sets a very high academic standard, which is quite different from the thesis requirements of some programs in the UK. However, this also makes it very time-consuming and can delay one’s entry into the industry.
