Students entering the MS in Financial Engineering program should have an appropriate mathematical background in probability, calculus and linear algebra. Those students who have this background should be able to do most of the questions below. However it may be necessary for some people to first review some of their undergraduate material. This is particularly true of prospective students who have been working in industry and are not applying directly from an undergraduate program
Completed applications must contain the following:
1. Completed online application form
2. Three (3) letters of recommendation
3. Official Graduate Record Examination (GRE) General Test scores, sent from ETS. Scores are valid for five (5) years. Institution code is (2111); there is no Department code.
4. Personal statement
5. Resume or curriculum vitae
6. Non-refundable application fee ($85)
In addition, applicants whose undergraduate or graduate degree was received in a country in which English is not the official and spoken language must meet the following requirements:
1. Test of English as a Foreign Language (TOEFL) or International English Language Testing System (IELTS). Official scores from ETS are required of all students who have not received an undergraduate or graduate degree in a country in which English is the official and spoken language.
2. Translation of the official transcript(s) is required if the institution(s) you attended does not issue transcripts in English. The transcript translation must be conducted by a reputable service and must be sent in addition to the official transcripts. Personal transcript translations will not be accepted.
We will also accept optional video interview submissions from organizations like Vericant (www.vericant.com).
Admitted students will be required to submit the following:
One (1) official transcript from every post-secondary institution attended, sent from the institution, issued in English in a sealed envelope.
Documents submitted will not be returned.
The Department of Industrial Engineering and Operations Research at Columbia University has long offered the Master of Science (MS) degree program with a specialized curriculum for professionals in the field of Financial Engineering.
Financial Engineering is a multidisciplinary field involving financial theory, the methods of engineering, the tools of mathematics and the practice of programming. The Financial Engineering Program at Columbia University provides full-time training in the application of engineering methodologies and quantitative methods to finance. It is designed for students who wish to obtain positions in the securities, banking, and financial management and consulting industries, or as quantitative analysts in corporate treasury and finance departments of general manufacturing and service firms.
The first half of our program is devoted to the tools of the trade and their use in modeling financial markets and instruments. The FE curriculum includes courses in stochastic processes, optimization, numerical techniques, Monte Carlo simulation, and data analysis. They also study portfolio theory, derivatives valuation, and financial risk analysis, making use of the methods they have learned.
The second half of the program gives students the opportunity to take more advanced courses or study specialized topics. We offer a selection of more detailed courses on current subjects of interest, ranging from models of the term structure of interest rates to a study of the implied volatility smile, as well as a course on applications programming for financial engineering. Students can also choose from a variety of courses on particular markets and their models, for example mortgage-backed securities or credit-risk modeling.
In addition to courses within the engineering school, students can also take electives from various schools within the university, such as theGraduate School of Business, the Graduate School of Arts and Sciences, the School of Law, and the School of International and Public Affairs.
Our program also hosts a popular Financial Engineering Practitioners Seminar on Monday nights, at which Wall Street and industry practitioners present seminars on their recent research or particular specialty, and where students can hear firsthand about life in the financial world.