QuantNet has just released the 2021 rankings for the best financial engineering programs in the U.S.!
Baruch's MFE program ranks first this year, while NYU Tandon's MFE continues to rise, surpassing NYU's own Math Finance program for the first time to rank 8th!
This year, QuantNet surveyed 36 financial engineering, financial mathematics, and quantitative finance programs, evaluating them in admissions, employment, and career services to determine the rankings.
2021 Complete Rankings
Baruch College's Master of Financial Engineering program takes the top spot this year, while Carnegie Mellon's MSCF rises one place to rank second.
Princeton's Master in Finance, previously ranked first, now sits at third. Cornell's MFE and Columbia's Math Finance both move up one spot.
NYU Tandon's MFE program remains strong, overtaking NYU's Math Finance and climbing one spot from last year to rank 8th.
Chicago's Math Finance and Boston University's Math Finance also saw significant jumps, rising 4 and 5 places respectively to rank 8th and 13th.
Here are the detailed rankings:
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2021 Ranking Methodology
Peer Assessment (20%)
Placement Success (55%)
- Employment Rate at Graduation (10%)
- Employment Rate Three Months after Graduation (15%)
- Mean Starting Salary and Sign-On Bonus (20%)
- Employer Survey Score (10%)
Student Selectivity (25%)
- GRE Scores (15%)
- Average Undergraduate GPA (7.5%)
- Acceptance Rate (2.5%)
What the QuantNet Rankings Mean for Applicants
The QuantNet rankings have long served as a crucial reference for students in financial engineering, especially those planning to work in the U.S. after graduation. Given the unique circumstances this year, the rankings are more valuable than ever for applicants.
Taking NYU Tandon as an example, the latest employment data shows:
- Average Annual Salary: $91,434
- Employment Rate at Graduation: 73%
- Employment Rate within 90 Days of Graduation: 86%
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We can also see that among the employers hiring graduates, in addition to top American firms like Goldman Sachs, J.P. Morgan, and Bloomberg, well-known Chinese companies such as Alibaba, CICC, and Bank of China are also on the list.
A strong program can lead to excellent career prospects and return on investment. Since placement success carries the most weight in the QuantNet rankings, applicants focused on employment outcomes can use these rankings to select programs that best match their goals.
In recent years, the number of MFE applicants has continued to rise, and admissions criteria have become increasingly stringent.
Last year, NYU's MFE program was flooded with applications! Even Peter Carr couldn't hide his excitement, sending an email to the entire NYU MFE community to express his pride and incidentally revealing a staggering statistic: 2020 first-round applications hit an all-time high!
For this year's MFE applications, CheersYou（清柚教育） still advises: Apply early!
Choosing the right school and program with a discerning eye is crucial. Look beyond the surface to spot each program's unique strengths and future potential—that's how you win in the long run.
Source: QuantNet
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