The GRE/GMAT test will NOT be required for admission this year. Instead, all applicants will take a Quant Background Assessment. Information on the QBA will be provided at the Information Session; see also below.
Current students and the director of the program will answer questions and provide further information on all of our programs. Register here.
Admission to the Masters in Financial Engineering Program at Baruch College is available to qualified applicants who have the potential to become successful graduates of our program.
The Baruch MFE Program does not have a target number for enrolled students. We are committed to admitting and educating all the students who meet our admissions standard. No application is denied because of a lack of seats in the program, and no applicant is accepted to the program to fill a quota.
Fall 2023 Admission Information
Admission is only offered for the Fall semester. There will be four rounds of admissions for the Fall 2023 semester, with the following dates:
Round 1: November 15, 2022
Round 2: January 15, 2023
Round 3: February 15, 2023
Round 4: April 1, 2023
All applications that are complete by one of the dates above will be evaluated at that time. Within approximately three weeks of the deadline for each round, interview invitations will be extended. Admission offers will typically be extended prior to the following application deadline. All applications should be completed by April 10th, otherwise they will be de-activated from the system.
Please note that students seeking admission may apply in only one round. Applicants who attempt to apply in multiple rounds for admission in the same year, will receive a decision reply for their first application only, and will not receive a refund for any fees paid in subsequent rounds.
The online application is now available here.
To simplify the application process, we only require the submission of official transcripts once an admission offer is made. The transcripts from ALL the school you attended should be scanned in one file and uploaded in the online application.
Prerequisites. Applicants are required to have taken the following minimal set of courses:
- Calculus (two semesters)
- Probability (one semester)
- Linear Algebra (one semester)
- C++ (one semester or certificate)
- Finance (one semester, or relevant work experience)
Only courses passed with a grade of B or better qualify as prerequisites.
The following seminars are offered in the Pre-MFE Program at Baruch College to prospective financial engineering graduate students:
- Advanced Calculus with Financial Engineering Applications
- Probability Theory for Financial Applications
- Numerical Linear Algebra for Financial Engineering
- C++ Programming for Financial Engineering (online)
The seminars emphasize financial applications and have a significant programming component.
Taking the Pre-MFE seminars is NOT required for admission to the Baruch MFE Program, although they are meant to build a strong basis for future graduate studies in financial engineering.
More details on the Pre-MFE Program can be found here.
The Application Evaluation Process. The standard for admission into the Masters in Financial Engineering Program is the same for applications for part-time and for full-time study, as well as for applications from US-based and for international applicants.
Successful applicants may have earned degrees in any discipline, provided that they demonstrate by way of test scores, undergraduate transcripts, and letters of recommendation that they are prepared for a demanding course of quantitative study. All applicants must have a baccalaureate degree from an accredited four-year college in the United States or its equivalent in another country.
Quantitative Background Assessment. All the applicants will take a Quantitative Background Assessment (QBA) as the first step in having their application evaluates.
There is no need to prepare specifically for the QBA. There is no minimum cutoff QBA score in order to be considered for admission. The QBA will provide a snapshot of the applicants quant background at the time of applying for admission. As of now, we expect the test to be open book, open internet. That said, an honor code will have to be signed which will prevent any communication with other individuals, either people taking the test at the same time, or others.
QBA Content: Calculus, Linear Algebra, Probability, Finance, Brainteasers
QBA Topics to Review: a list of topics covered by the QBA can be found here
- Online, offered during two specific time intervals after each admission round
- Nine questions, 45 minutes; 1 Brainteaser, 2 questions each from Calculus, Linear Algebra, Probability
- Not multiple choice; all the answers are integers
- Open book, internet search allowed (subject to possible change); NO communication with anyone allowed while taking the QBA
QBA Logistics: the QBA will be offered online as a specific time within one week after each application deadline. Applicants will be informed of the date and time by email. Two different time slots will be offered on the same day (7-8am NY time and 7-8pm NY time) to accommodate different time zones. Detailed information on how to take the QBA will be sent to the applicants.
Interviews. Two interview rounds (virtual via Zoom) are part of the admission process before an admission offer to the Baruch MFE Program is made. The interviews are primarily technical, and include mathematical, finance, and C++ programming questions.
Selected applicants will be contacted by the Admissions Committee by email to arrange an interview. Applicants cannot request to be interviewed.
Test Scores. GRE/GMAT scores are not required to apply for admission. In fact, there is no place on the application to submit test scores, and, if attached separately, they will not be taken into account. Instead, all applicants will take the Quantitative Background Assessment.
TOEFL scores are not required. The ability to communicate in English is assessed at the time of the admission interviews.
Personal Essay. Applicants must answer the following questions in their personal essay:
- Why are you interested in Financial Engineering?
- Why do you want to study in the Masters in Financial Engineering Program at Baruch College?
- What career path do you envision after graduating from the Baruch MFE Program?
Letters of Recommendation. A complete application contains three letters of recommendation. The recommenders should be individuals who can comment on the relevant skills that would make the applicant successful in the MFE program. There is no requirement that at least one letter come from a professor or from an industry professional.
The Admissions Committee may require admitted students to take summer refresher seminars in C++, Advanced Calculus, Probability and Linear Algebra before the start of the program. These advanced seminars are closed to people not admitted in the MFE program, and cover a number of challenging financial applications. More information can be found here.
Contact for application information: Wsas.Graduate.Studies@baruch.cuny.edu
Office of Graduate Studies
Weissman School of Arts and Sciences
One Bernard Baruch Way, Box B8-211
New York, NY 10010-5585