The Nanyang Business School of the Singapore-based Nanyang Technical University is offering a 1-year MSc (Financial Engineering) also called MFE relating to the application of mathematics, statistical skills and computer programming techniques to solve challenging problems in finance.
The School also has a collaboration with Carnegie Mellon University, Pittsburgh, US, with students spending more than a month in the University campus in the US in the concluding stages of the program.
Unlike the typical MBA or Master’s in Finance or Applied Finance Programs, the MFE is for those aiming to enhance their abilities in logical thinking and quantitative skills for a specialist career in the sector.
The high value placed by recruiters on the program could be gauged by the fact that about 60% of students secure job offers before graduation. Almost 80% to 90% find employment within three months of graduation.
Professor Charlie Charoenwong, Academic Director of the Program, describes financial engineering as the application of mathematics, statistical skills and computer programming techniques to resolve various issues in the finance sector.
The graduates command attractive remuneration and find positions in banks, asset management firms, trading firms, accounting firms and other financial institutions.
The MFE Programme had started in 1999 with a small cohort. Over the past few years, the capacity was increased to accommodate about 40 to 50 students each year. MFE alumni are now employed in all the major local and international banks and other financial institutions in Singapore, performing quantitative tasks in areas like algorithmic trading, product structuring, valuation, quantitative portfolio management and quantitative risk management.
The first trimester for the current batch that began on July 25 ran till October 29. The second is from October 31 to February 25, 2017 with a 3-week recess from December 19 to January 7, 2017. The third trimester is from February 27 to June 24, including 2 weeks recess from April 17 to May 6. Tentative dates for the term at Carnegie Mellon will be from April 17 to May 6. The exams will be from June 19-24.
Admission for the MFE program takes place in July every year. The application for the July intake opens in November and closes in February.
Round 1 deadline is on January 6, 2017 and Round 2 on February 28.
Undergraduate degree with good scores in applied mathematics, applied science, statistics, computer science, engineering, economics, or other quantitative fields. Applicants from other disciplines are also considered.
A good GMAT or GRE score is compulsory. You may take either the GMAT or GRE although the GRE is preferred. For GRE, please take the General Test. GMAT/GRE must be taken within the last five years at the time of submitting your application.
A minimum of two years relevant working experience after obtaining the first degree is preferred, but not required.
TOEFL is required if the medium of instruction during your undergraduate studies was not in English. IELTS is accepted in place of TOEFL.
The Application Fee of S$100 is non-refundable. The enrolment fee of S$5,000, payable upon acceptance of offer of admission is also non-refundable. This is included as part of the tuition fees. The full fees work out to S$55,800.
Job Opportunities for International Students
As a global finance hub, Singapore is one of the most popular locations for global talent in banking and finance. Many international students choose to study in Singapore with the aim of subsequently building a finance career in the island nation. Out of the 5.61 million population in Singapore, almost 40% are foreign.
Majority of the local as well as international graduates from the programme are able to find suitable employment in Singapore as well as overseas.
While most of the foreign graduates successfully obtain employment in finance-related work in Singapore upon graduation. A few have subsequently moved to other global finance hubs like London, New York, Tokyo and Hong Kong.