Admission Statistics
The number of applicants to the MFE program for Fall 2010 admission increased by 33%, while simultaneously having a stronger pool of applicants (the average GRE Quantitative score of all the applicants increased from 770 to 781, an all-time high). This is reflected in the strength of our Fall 2010 cohort, the strongest we have ever enrolled, based on average test scores.
| Semester | Applicants | Admitted | Adm. Rate | Enrolled | Yield | Full-Time & Part-Time | International |
|---|---|---|---|---|---|---|---|
| Fall 2002 | 58 | 25 | 43% | 20 | 80% | 11 & 9 | 6 |
| Fall 2003 | 95 | 27 | 28% | 14 | 52% | 7 & 7 | 2 |
| Fall 2004 | 132 | 48 | 36% | 38 | 79% | 16 & 22 | 8 |
| Fall 2005 | 129 | 36 | 28% | 26 | 72% | 13 & 13 | 6 |
| Fall 2006 | 184 | 42 | 23% | 34 | 81% | 15 & 19 | 9 |
| Fall 2007 | 337 | 48 | 14% | 35 | 76% | 19 & 16 | 13 |
| Fall 2008 | 514 | 57 | 11% | 40 | 70% | 28 & 12 | 13 |
| Fall 2009 | 352 | 29 | 8% | 24 | 83% | 16 & 8 | 5 |
| Fall 2010 | 467 | 35 | 7% | 28 | 86% | 21 & 7 | 10 |
We look at every application as a complete package, which includes not only the quantifiable parts, such as GPA and test scores, but also the Personal Essay, Letters of Recommendation, and other general considerations, such as relevant work experience and the strength of the mathematical and C++ programming background of the applicant. We include detailed statistics on the GPAs and the test scores of the students admitted into the MFE program every year which show that low GPAs or low test scores can be overcome by demonstrating strength in other areas of the application.
Average GPA and Test Scores for All Applicants
| GPA | GRE | GMAT | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Semester | Undergrad | Graduate | Quantitative | Verbal | Analytical | Quantitative | Verbal | Analytical | Total |
| Fall 2002 | 3.23 | n/a | 703 | 492 | n/a | 43 | 27 | n/a | 579 |
| Fall 2003 | 3.21 | 3.43 | 727 | 468 | 4.1 | 41 | 32 | 3.8 | 567 |
| Fall 2004 | 3.32 | 3.52 | 746 | 456 | 4.0 | 43 | 26 | 4.0 | 585 |
| Fall 2005 | 3.31 | 3.54 | 751 | 467 | 4.0 | 47 | 29 | 4.2 | 634 |
| Fall 2006 | 3.27 | 3.55 | 758 | 478 | 4.0 | 48 | 31 | 4.2 | 656 |
| Fall 2007 | 3.37 | 3.57 | 767 | 506 | 4.0 | 48 | 33 | 4.5 | 664 |
| Fall 2008 | 3.40 | 3.53 | 780 | 543 | 3.9 | 48 | 33 | 4.6 | 675 |
| Fall 2009 | 3.36 | 3.52 | 770 | 505 | n/a | 48 | 33 | 4.7 | n/a |
| Fall 2010 | 3.42 | 3.62 | 781 | 514 | n/a | 48 | 33 | n/a | n/a |
Average GPA and Test Scores for Admitted Students
| GPA | GRE | GMAT | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Semester | Undergrad | Graduate | Quantitative | Verbal | Analytical | Quantitative | Verbal | Analytical | Total |
| Fall 2002 | 3.45 | n/a | 717 | 505 | n/a | 44 | 22 | n/a | 580 |
| Fall 2003 | 3.31 | 3.59 | 755 | 554 | 4.65 | 43 | 33 | n/a | 627 |
| Fall 2004 | 3.43 | 3.57 | 754 | 530 | 4.58 | 44 | 31 | 3.6 | 613 |
| Fall 2005 | 3.45 | 3.72 | 759 | 539 | 4.32 | 48 | 31 | 5 | 685 |
| Fall 2006 | 3.38 | 3.57 | 768 | 538 | 4.38 | 49 | 34 | 4.1 | 687 |
| Fall 2007 | 3.53 | 3.66 | 795 | 582 | 4.59 | 49.6 | 37.9 | 5.4 | 718 |
| Fall 2008 | 3.53 | 3.71 | 796 | 575 | 4.4 | 49.9 | 37.4 | 4.9 | 721 |
| Fall 2009 | 3.54 | 3.64 | 790 | 582 | 4.2 | 49.9 | 39.9 | 4.9 | 735 |
| Fall 2010 | 3.44 | 3.62 | 794 | 575 | 4.3 | 50 | 34.4 | 4.6 | 704 |
GPA - Admitted Students
| Semester | 1st Quartile | 2nd Quartile | 3rd Quartile | 4th Quartile |
|---|---|---|---|---|
| Fall 2002 | 2.30 – 3.30 | 3.30 – 3.50 | 3.50 – 3.70 | 3.70 – 3.90 |
| Fall 2003 | 2.50 – 3.00 | 3.00 – 3.30 | 3.30 – 3.58 | 3.58 – 4.00 |
| Fall 2004 | 2.60 – 3.18 | 3.18 – 3.52 | 3.52 – 3.70 | 3.70 – 4.00 |
| Fall 2005 | 2.60 – 3.01 | 3.01 – 3.50 | 3.50 – 3.72 | 3.72 – 4.00 |
| Fall 2006 | 2.50 – 3.20 | 3.21 – 3.46 | 3.50 – 3.71 | 3.74 – 4.00 |
| Fall 2007 | 2.50 – 3.32 | 3.39 – 3.55 | 3.56 – 3.70 | 3.70 – 3.96 |
| Fall 2008 | 2.78 – 3.30 | 3.30 – 3.51 | 3.58 – 3.76 | 3.78 – 4.00 |
| Fall 2009 | 2.72 – 3.30 | 3.41 – 3.60 | 3.60 – 3.80 | 3.82 – 4.00 |
| Fall 2010 | 3.00 – 3.17 | 3.22 – 3.40 | 3.40 – 3.63 | 3.63 – 4.00 |
GRE Scores for Admitted Students – Detailed Statistics
| GRE Admitted – Quantitative Score | GRE Admitted – Verbal Score | |||||||
|---|---|---|---|---|---|---|---|---|
| Semester | 1st Quartile | 2nd Quartile | 3rd Quartile | 4th Quartile | 1st Quartile | 2nd Quartile | 3rd Quartile | 4th Quartile |
| Fall 2002 | 510 – 680 | 680 – 730 | 730 – 800 | 800 | 300 – 350 | 350 – 570 | 570 – 620 | 620 – 690 |
| Fall 2003 | 580 – 740 | 740 -770 | 770 – 800 | 800 | 300 – 410 | 410 – 610 | 610 – 630 | 630 – 800 |
| Fall 2004 | 640 – 730 | 730 -760 | 760 – 790 | 790 – 800 | 330 – 450 | 450 – 550 | 550 – 600 | 600 – 720 |
| Fall 2005 | 590 – 740 | 740 -780 | 780 – 800 | 800 | 320 – 410 | 410 – 560 | 560 – 640 | 640 – 760 |
| Fall 2006 | 670 – 740 | 740 -790 | 790 – 800 | 800 | 330 – 460 | 490 – 540 | 550 – 600 | 620 – 800 |
| Fall 2007 | 760 – 790 | 790 – 800 | 800 | 800 | 280 – 530 | 540 – 600 | 620 – 680 | 680 – 800 |
| Fall 2008 | 760 – 790 | 800 | 800 | 800 | 380 – 510 | 520 – 570 | 580 – 660 | 670 – 780 |
| Fall 2009 | 750 – 790 | 790-800 | 800 | 800 | 320 – 470 | 530 – 600 | 620 – 700 | 720 – 780 |
| Fall 2010 | 760 – 800 | 800 | 800 | 800 | 460 - 540 | 550 – 560 | 570 – 620 | 630 - 710 |
Majors – Students Admitted to the Financial Engineering MS Program
| Semester | Engineering | Mathematics | Economics | Finance Business | Physics | Computer Science | Humanities |
|---|---|---|---|---|---|---|---|
| Fall 2004 | 20% | 26% | 9% | 17% | 2% | 19% | 7% |
| Fall 2005 | 20% | 27% | 0% | 19% | 6% | 20% | 9% |
| Fall 2006 | 20% | 16% | 7% | 15% | 6% | 26% | 10% |
| Fall 2007 | 28% | 15% | 8% | 21% | 10% | 13% | 5% |
| Fall 2008 | 35% | 21% | 7% | 12% | 7% | 16% | 2% |
| Fall 2009 | 37% | 7% | 5% | 36% | 5% | 9% | 0% |
| Fall 2010 | 32% | 27% | 8% | 8% | 6% | 20% | 0% |
Degrees Held – Students Admitted to the Financial Engineering MS Program
| Semester | BS | MS or MBA | PhD | J.D |
|---|---|---|---|---|
| Fall 2004 | 59% | 39% | 0% | 2% |
| Fall 2005 | 62% | 24% | 12% | 3% |
| Fall 2006 | 45% | 52% | 0% | 2% |
| Fall 2007 | 54% | 39% | 7% | 0% |
| Fall 2008 | 71% | 18% | 9% | 2% |
| Fall 2009 | 64% | 29% | 7% | 0% |
| Fall 2010 | 59% | 29% | 12% | 0% |
