Employment Statistics
Seven cohorts of students have graduated since our Financial Engineering MS Program started in September 2002.
The Baruch MFE program has over one hundred fifty alumni. Having a rigorous and selective admission process means that our cohorts, and therefore the graduating classes, tend to be small.
Over 90% of our alumni work in the financial industry, the vast majority of them in New York.
Our international students are equally successful on the job market as US residents, the only difference being that international students are rarely eligible for positions that have to be filled immediately.
A small number of our graduates do not look for employment, primarily because they already have senior positions in the financial industry.
First Year Compensation
The first year compensation reported here is the compensation guaranteed at the time of hire. It is comprised of the starting base salary plus the signing bonus plus any first year bonus guaranteed in the offer letter, if any.
The annual performance-based bonus is not included here. The annual bonus is typically an additional 15-25% of the base salary, and may by prorated. We do not track these numbers. In other words, the first year total compensation of our graduates is higher than the guaranteed compensation reported.
| Graduation Date | Graduates | Placement Rate | PhD/MS | Did Not Look | Low | High | Average |
|---|---|---|---|---|---|---|---|
| Dec’03-May’04 | 14 | 8 of 10 | 4 | 0 | 60K | 80K | 69K |
| Dec’04-May’05 | 10 | 8 of 10 | 0 | 0 | 70K | 110K | 87K |
| Dec’05-May’06 | 19 | 15 of 16 | 2 | 1 | 55K | 155K | 94K |
| Dec’06-May’07 | 27 | 18 of 19 | 1 | 7 | 65K | 195K | 111K |
| Dec’07-May’08 | 27 | 21 of 22 | 0 | 5 | 60K | 200K | 93K |
| Dec’08-May’09 | 22 | 19 of 21 | 0 | 1 | 65K | 125K | 92K |
| Dec’09-May’10 | 29 | 27 of 29 | 0 | 0 | 75K | 120K | 96K |
First Year Starting Salary
The table below contains the first year starting salary of our graduates, which does not include any bonuses
| Graduation Date | Graduates | Placement Rate | PhD/MS | Did Not Look | Low | High | Average |
|---|---|---|---|---|---|---|---|
| Dec’05-May’06 | 19 | 15 of 16 | 2 | 1 | 55K | 120K | 81K |
| Dec’06-May’07 | 27 | 18 of 19 | 1 | 7 | 65K | 135K | 96K |
| Dec’07-May’08 | 27 | 21 of 22 | 0 | 5 | 60K | 135K | 88K |
| Dec’08-May’09 | 22 | 19 of 21 | 0 | 1 | 65K | 115K | 84K |
| Dec’09-May’10 | 29 | 27 of 29 | 0 | 0 | 75K | 110K | 90K |
First Year Starting Salary for graduates with no relevant work experience
First year compensation depends in part on prior work experience. Some of our students worked in the financial industry before starting the program (although not necessarily in front office positions), and this seniority has usually been recognized in initial compensation packages. However, some of the highest compensation packages have also been offered to strong graduates with no previous work experience in the financial industry.
The table below contains data on the first year starting salary of our graduates who had either no work experience, or no relevant work experience in the US.
| Graduation Date | Graduates | Placement Rate | PhD/MS | Did Not Look | Low | High | Average |
|---|---|---|---|---|---|---|---|
| Dec’05-May’06 | 12 | 9 of 10 | 2 | 1 | 55K | 115K | 76K |
| Dec’06-May’07 | 10 | 9 of 9 | 1 | 0 | 65K | 105K | 83K |
| Dec’07-May’08 | 18 | 17 of 18 | 0 | 0 | 60K | 96K | 79K |
| Dec’08-May’09 | 18 | 16 of 18 | 0 | 0 | 65K | 115K | 82K |
| Dec’09-May’10 | 22 | 21 of 22 | 0 | 0 | 75K | 97K | 88K |
Dec’09-May’10 graduates – Employers and Positions
Employers
Bank of America
Bloomberg
BNP Paribas
Citigroup
Deutsche Bank
JPMorgan
KPMG
Morgan Stanley
Nomura Securities
Numerix
NuWave Investment Management
Quantitative Brokers
RBC
RBS
Risk Focus
Societe Generale
Standish Mellon
SuperDerivatives
Note: some of the employers from the list above hired more than one of our alumni.
Positions
Associate Advisor
AVP – Risk Analytics & Modeling
Commodities Trader / Quantitative Analyst
Credit Risk Analyst
Financial Engineer
Financial Software Developer
Global Equities
Investment Banking Technology Analyst
Market Data Specialist
Quant Developer
Quant Developer, Associate
Quantitative Analyst
Quantitative Support Analyst
Risk Analyst
