- Academics
Financial Engineering, M.S.
Sophisticated modeling and information technology now dominate the financial world. The theories and the practice of Finance are challenged today by complex financial and global systems and by dynamically changing regulatory environments and politics. A global world in transition creates both opportunities and challenges for financial engineers to adapt theoretical and financial constructs into profitable and innovative opportunities by creating innovative, custom-designed instruments in the marketplace.
At the NYU School of Engineering, we train our students to do exactly that: to engineer the future of finance and transform financial theory into practice. The MS in Financial Engineering program furnishes students with foundational knowledge in financial concepts. This knowledge then becomes a springboard to specialized fields where students can apply concepts to everything from derivatives risk finance to financial IT and algorithmic trading on Big Data.
About the Program
Admissions
The Department receives a large number of applications every year. To be considered for admission into the MS in Financial Engineering program, students must have a Bachelor’s Degree from an accredited institution and proven proficiency in:
- Linear Algebra
- Probability Theory
- Multivariable Calculus (Advanced)
- Applied Statistics
- Computer Programming
Admission Requirements
- Official Transcripts
- Resume
- Statement of Purpose
- 1-minute video
- 2 Letters Of Recommendation
- English Language Proficiency Testing, where applicable
- Online application
- $90 application fee
Learn more about Admission Requirements.
The average Quant GRE score of accepted students in Fall 2023 was 169.0/170, the Verbal GRE score was 158.3, and the GPA was 3.848.*
*Beginning in 2023, the GRE is optional and not required to be admitted to the NYU Tandon School of Engineering.
When applicable, applicants must also demonstrate English language proficiency to be determined by the TOEFL score.
The FRE department does not accept change-of-major requests. In all instances, students must formally apply to the program. Applicants must have demonstrated proficiency in the mathematical areas listed to be considered for admission. The Department offers both an online and an on-campus boot camp during the summer before formal coursework starts. For program highlights and a video regarding further details on FRE admissions requirements, visit our Prospective Students page.
Undergraduate students are not allowed to take courses in the MS in Financial Engineering program, except for those in a combined BS/MS program.
Applicant Questions
Contact the Graduate Center for questions about the application process, application status or to talk to an admissions counselor:
Office of Graduate Enrollment Management and Admissions
NYU Tandon School of Engineering
458 Pike Road
Huntingdon Valley, PA 19006
engineering.gradinfo@nyu.edu
Phone: (646) 997-3182
Accepted and Enrolled Students
Contact the Department of Finance and Risk Engineering with your academic questions, e.g., courses and curricula.
Department of Finance and Risk Engineering
NYU Tandon School of Engineering
1 MetroTech Center North, 10th floor
Brooklyn, NY 11201
engineering.fre@nyu.edu
Tel: 646.997.3279
Fax: 646.997.3355
Advising
Professor Barry Blecherman
General Advising
barry.blecherman@nyu.edu
Ms. Zahra Patterson
Academic Planner, Degree Progress Report, and Graduation Audits
zahra.patterson@nyu.edu
Professor Agnes Tourin
Capstone Advisement
at1744@nyu.edu
Curriculum
Students enrolled full-time will complete the program in 4 semesters (May) although some may accelerate the course load and graduate within 3 semesters. Our program also offers flexibility to attend part-time and extend the number of semesters.
To earn a Master of Science in Financial Engineering, students must complete 33 credits to qualify for graduation. The structure of the program is as follows:
- Bootcamp of 0 credits
- 5 core courses, each 3 credits
- General elective courses within FRE and closely related fields personalized by the student, totaling 13.5 credits
- 1 required applied lab worth 1.5 credits
- 1 capstone experience of 3 credits
Read the Capstone Guidelines (PDF) - Capstone assessment of 0 credits
- Bloomberg certification of 0 credits
Total # of credits: 33
There are also two options to participate in a Vertically Integrated Project (VIP) (0 credits).
- Merger & Acquisition Outcome Prediction
- Active Portfolio Management with Machine Learning and Time Series Forecasting
Students must also complete the Bloomberg Market Concepts e-learning course and earn the Acknowledgement of Completion to qualify for graduation. The Department will support your efforts to complete the training program by providing many Bloomberg terminals and laboratory assistants to answer your questions. This is a zero-credit requirement, listed as FRE 5500.
In recent years, our MSFE students (100-150 students) have gone on to a variety of career paths with the help of our Career Placement Director. Most notably, these paths have included Desk Quant/Strategist, Risk Management Analyst/Associate, Trader, Quant Researcher, Technology/FinTech Analyst, Data Science Analyst, Quant Model Development/Quantitative Modeler, and Model Validation.
Learn more about our employee outcome statistics.
Program Requirements
CORE COURSES (15 CREDITS)
Required Courses:
FRE-GY6073: Introduction to Derivative Securities
FRE-GY6083: Quantitative Methods in Finance
FRE-GY6103: Valuation for Financial Engineering
Two of the following three courses:
FRE6023: Financial Economics
FRE6123: Financial Risk Management
FRE7773: Machine Learning in Financial Engineering
GENERAL ELECTIVES (13.5 CREDITS)
Students may choose from any FRE courses to fulfill these focus areas* and general elective requirements. They may also elect to register for up to three (3) classes (maximum of one per semester) at select schools/programs at NYU. Courses outside FRE must be approved by the MS Financial Engineering academic advisor. Students may only enroll for courses at other schools of NYU that are not offered at the School of Engineering. Please review the NYU cross-school registration policy prior to submitting cross-registration requests.
View the complete list of FRE Courses
APPLIED LAB (1.5 CREDITS*)
Choose 1 lab from the following:
FRE-GY6811: Financial Software Laboratory
FRE-GY6821:
FRE-GY6831: COMPUTATIONAL FINANCE LABORATORY (PYTHON)
FRE-GY6861: Financial Software Engineering Laboratory
FRE-GY6871: R in Finance
FRE-GY6883: Financial Computing
*For FRE-GY6883, 1.5 credits count as lab and 1.5 credits as elective.
FRE-GY6191: Advanced Topics in Financial Technology
Note: Waivers are possible.
REQUIRED CERTIFICATION (0 CREDITS)
FRE-GY5500: Bloomberg Certification
CAPSTONE (3 CREDITS)
Choose 1 capstone option:
I. INTERNSHIP
FRE-GY7021: Financial Engineering Capstone: Internship
Minimum 240 hours per semester; FRE-GY7021 must be taken twice in order to fulfill the capstone requirement; 1 report to the faculty is required
II. PROJECT
FRE-GY7043: Financial Engineering Capstone: Project
Project under faculty supervision
III. THESIS
FRE-GY9973: MS Thesis in Finance & Risk Engineering
IV. SPECIAL TOPICS
3.00 credits (two courses of 1.5 credit each or a single 3.00 credit course) of courses marked “topics” or “special topics” in the FRE section of the school course catalog, with a capstone paper submitted to the capstone advisor.
In addition, please see the Capstone Procedures and Requirements (PDF).
CAPSTONE ASSESSMENT (0 CREDITS)
FRE-GY5990: Capstone Assessment
Vertically Integrated Projects (0 CREDITS)
VIP-GY5000