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Financial Engineering USA

In this episode Ms. Kunjal Sakhrani talks about Financial Engineering as a career option for students. Students are always confused if they should do MS or MBA. And if MS, what are the different options available for them other than the traditional masters …There are many options available and one of them is financial engineering.

Financial Engineering is a multidisciplinary field where engineering, programming, mathematics & financial theory are integrated together. The subject also applies technical methods from mathematical finance and computational finance. It is also known as financial mathematics, quantitative finance or computational finance. Despite its name, Financial Engineering does not belong to any of the fields in traditional engineering. In the United States, Financial Engineering programs are accredited by the International Association of Financial Engineers.

Students interested in pursuing this field must be strong in calculus, computer programming, linear algebra, equations, probability, and statistics. Most Financial Engineering programs are offered only at the post graduate level, although there are a few undergraduate degrees as well: To apply to the colleges in USA, you will require SAT score for a Bachelors degree and a GRE score for a Masters program. Other requirements include official academic transcripts, letters of recommendation, personal essays, statement of purpose and financial documents. Additionally international students will also need to provide a proof of English proficiency Test in the form of TOEFL or IELTS.

Tuition fees for under graduate degrees will range from US$35000 to 50000 per year and for masters degree will be between US$45000 and 60000 per year. Scholarships are available in various colleges, mostly for post graduate studies. The Financial Engineering programs are considered to be elite programs with high admission standards. Financial Engineering graduates are highly sought after in the job market. Some of the top universities for Financial Engineering are, University of California at Berkeley, Columbia University, Cornell University, University of Illinois at Urbana Champaign.

Financial Engineering graduates are typically inclined towards quantitative roles in investment banks, commercial banks, hedge fund companies, financial & database software suppliers, asset management firms and financial services advisory firms. The role of the quantitative analyst is growing rapidly, so as the field of financial engineering developed and evolved. Hope you have enjoyed watching this episode. For more such informative episodes, please keep watching Career Growth

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