Master of Science in Financial Engineering

Master of Science in Financial Engineering Closed to New Applications

U-M's Master of Science in Financial Engineering

The Master of Science in Financial Engineering degree program has closed as of December 2014.  Students who are interested in graduate study in quantitative finance and risk management are encouraged to learn about the new Master's program offered through the University of Michigan Mathematics Department. See more at: 

Financial expertise is key in today's fast-paced, volatile global business environment. This 39-credit hour graduate program, usually completed in three academic semesters, gives students the technical and financial sophistication they need to solve complex problems and develops their ability to understand, negotiate, and collaborate with colleagues and customers around the world.

Students benefit from the best U-M has to offer in this interdisciplinary program. The core includes finance courses, mathematics and statistics courses, and optimization and computational courses.

Graduates with degrees in financial engineering basically work with data, statistics, and financial theory in some form of computational analysis. They apply advanced mathematical models, financial models, and computer technology to financial products and financial management. Because of the technical requirements of the program, engineers, physics and math majors, and computer programming specialists are well represented in the student population.

There is a strong demand for graduates with skill sets that span finance, math, and computer programming. There are challenging career opportunities in energy and other commodities trading, startups, joint ventures, risk management, financial services, banking, wealth and asset management, insurance, government agencies, trading companies, hedge funds, information technology, and consulting. The average starting salary for graduates is between $80,000 and $90,000.

The Financial Engineering Program opens new doors and opportunities for students. Typically no one person completes their undergraduate degree with expertise in all three fields of finance, mathematics, and computational skills. Those with an engineering background have strong experience in math. U-M's Financial Engineering Program accepts these technically proficient students and educates them in finance and computational skills.

The program also makes students aware of the bigger world of finance so that they can put models and techniques in context. It also helps them develop the kinds of soft skills they need to move up in their jobs, such as communication, leadership, and management interdependency. Students have the opportunity to learn networking skills and start to build relationships that will benefit them for the rest of their lives.

Immediate networking takes place right here on campus as the first-year students get to know the second-year students. Within a semester, those second-years will have moved to well-paying jobs, thereby creating an immediate network of friends in the right places. Students immediately start building the foundations for relationships that will last a lifetime, in addition to gaining the advantages that come with having a degree from an internationally-respected leader in higher education.

Beginning in Fall 2013, the Financial Engineering Program was closed to new applications as its curriculum was reviewed. After this review, the decision was made that no new students will be admitted to this degree program. The Master of Science in Financial Engineering curriculum will continue to be available to all previously admitted students.