Just now, QuantNet released the latest 2024 ranking of U.S. financial engineering programs!
Baruch College's MFE program continues to hold the top spot, Princeton remains second, and CMU overtakes UC Berkeley to break into the Top 3.
Columbia's Financial Engineering program surpasses its own Financial Mathematics program, ranking 5th. The University of Chicago jumps 6 places, surpassing Cornell, NYU, and MIT!
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This year, QuantNet surveyed financial engineering, financial mathematics, and quantitative finance programs, ultimately ranking them based on admissions, employment, and career services.
2024 QuantNet Complete MFE Rankings
Baruch College's Financial Engineering master's program defends its title as the top MFE program for another year.
Princeton's Master in Finance remains in second place. CMU overtakes UC Berkeley for third, pushing Berkeley to 4th.
Columbia's Financial Engineering and Financial Mathematics programs swap positions, with Financial Engineering now in 5th and Financial Mathematics falling from 5th last year to 9th this year.
The University of Chicago surges 6 spots, outperforming Cornell, NYU, and MIT. MIT drops to 9th, while NYU MFE and UCLA miss the Top 10.
New program added this year:
UC San Diego Master in Finance
Overall, due to the continued emphasis on employment metrics and the strong employment outcomes of some programs, this year's rankings saw significant changes.
2024 QuantNet Ranking Methodology
Peer Assessment (20%)
Employment Success (55%)
- Graduate Employment Rate (10%)
- Employment Rate Three Months After Graduation (15%)
- Average Starting Salary and Signing Bonus (20%)
- Employer Satisfaction (10%)
Student Selectivity (25%)
- Undergraduate GPA (17.5%)
- Program Acceptance Rate (7.5%)
In this year's latest rankings, 'Employment Rate Three Months After Graduation' and 'Average Starting Salary and Signing Bonus' continue to be US-only metrics, reverting to the original indicator standards; GRE scores remain excluded from the student selectivity assessment.
The Guidance Value of QuantNet Rankings
QuantNet rankings have always been of crucial guiding significance for financial engineering students, especially those planning to work in the U.S. for some time. In the post-pandemic economic recovery, this ranking holds even greater reference value for applications.
Take Carnegie Mellon's MSCF as an example. According to the latest graduate destination data, the post-graduation employment rate on the official website is as high as 93%. This excellent employment performance helped CMU jump to third place this year.
We can also see that among the companies hiring graduates, top-tier employers include JP Morgan, Citigroup, Goldman Sachs, Morgan Stanley, UBS, Barclays, Blackstone, Bloomberg, and other prominent firms.
Excellent programs can bring great employment prospects and return on investment. Since employment success carries the most weight in the QuantNet rankings, MFE applicants focused on employment can use these rankings to make more suitable program choices.
In recent years, the number of MFE applicants has continued to grow, and admission thresholds have been rising—it remains an extremely popular field.
For the new cycle of MFE applications, CheersYou（清柚教育） still advises: Apply early!
Having the right perspective when choosing schools and programs is vital; you must be able to recognize each program's strengths and future prospects to succeed in the long run.
