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In the world of business and financial economics, it is important that large data sets are seen through the lens of mathematical models with the aim of analyzing financial markets and financial securities and solving financial economic issues in the process.
Earning a master’s degree in quantitative finance is an ideal choice if you want to acquire the necessary financial skills and training to enhance your career prospects.
Drawing from various disciplines like computer science, statistics, and applied mathematics, the field of quantitative finance delves deep into financial economics, which is integral to understanding financial markets, including asset pricing.
Some master’s degree programs in quantitative finance offer areas of concentration. This includes mathematical theory, financial applications, and quantitative techniques.
Quick audio summary:
Overview:
As quantitative finance analysts, it is important that you build upon your skills in applying financial theory in real-world settings. One way to do just this is to acquire an advanced degree in quantitative finance. Fortunately, many universities in the US offer the program, and some are even available online.
With a master’s degree in quantitative finance, you will be able to acquire essential skills that will help you navigate the world of financial programming, structuring of derivatives, quantitative asset management, and management of financial risks.
Methodology
Essentially ideal for individuals with a knack for statistics and mathematical methods, an Online Master of Quantitative Finance leads to some of the most challenging yet most rewarding career paths! Below are five outstanding online master’s degrees in the country offered by some of the best-rated graduate schools and demonstrating excellence with these program features:
- A fully online or blended curriculum, with classes delivered asynchronously or synchronously formats, to accommodate working professionals seeking to bolster their academic portfolio and qualify for top-level careers with a master’s degree in Quantitative Finance,
- An online Master’s in Quantitative Finance coursework, featuring specializations that focus on the more in-depth concepts surrounding the discipline, enabling graduates to resolve complex issues in the field and contribute to it substantially,
- A top-quality Learning Management System offering the virtual resources and tools that graduate students need to succeed,
- Seasoned Quantitative Finance experts as online teachers,
- Student aid programs for qualified online master’s degree students needing financial assistance,
- Career advice and related student services to assist future graduates of Master’s in Quantitative Finance in their quest for landing the jobs that best match their skills and competence,
- Accredited by academic agencies that establish high academic standards,
- Active affiliation with industry organizations and stellar feedback from students.
Best Master of Quantitative Finance Degree Programs
University of Washington
Seattle, Washington
Master of Science (MS) in Computational Finance and Risk Management
Considered one of the world’s outstanding public universities, the University of Washington boasts of excellent research and scholarship tradition. One of the programs they offer is the Master of Science in Computational Finance and Risk Management, specially designed for those who want to advance their career pathway in various fields of finance.
It is the best option if you want to learn cutting-edge quantitative and occupational finance skills and next-generation risk management competencies.
The degree is fully available online, allowing you to complete your coursework anywhere, albeit at a fixed time. Online students are not required to attend classes in real time as class lectures are recorded and are available to watch at their own pace.
- What makes this program unique is that online students are enrolled in the same courses as the on-campus students, which means they are going to learn from the same instructors and do the same coursework.
- Most of the courses are delivered through multiple software tools that require a high-speed internet connection and plugins or other software.
- The program is available both in full-time and flexible part-time schedules.
- The core courses included in the program’s curriculum include Investment Science, Financial Data Science, Machine Learning for Finance, Introduction to Trading Systems, Advanced Trading Systems, Quantitative Risk Management, Credit Risk Management, and Optimization Methods in Finance, among others.
- You can choose among special electives, including Independent Research or Study, Internship or CPT, and Master’s Thesis.
Standout Features of the University of Washington’s Master of Science in Computational Finance and Risk Management Program:
The program emphasizes its flexibility and global reach, which makes it a good choice for working professionals who need to juggle the pursuit of advanced education with their personal and professional obligations.
Since students in the online and on-campus classes are offered the same curriculum and instructors, it is possible for them to interact via email, course discussion forums, and web conferencing.
Did You Know?
Sustainability is at the core of the University of Washington. They are recognized as a national leader for their commitment to sustainability on their campuses and in the community.
The AASHE – Association for the Advancement of Sustainability in Higher Education has recognized the university as a third-time, gold-rated university for its sustainability efforts. Some of their efforts include the Climate Action Plan and their new Sustainability Action Plan.
Johns Hopkins University – Whiting School of Engineering
Baltimore, Maryland
Master of Financial Mathematics
Johns Hopkins University’s Whiting School of Engineering is known as one of the largest continuing education schools in engineering in the country. They aim to provide students with quality continuing education to professionals who wish to further their careers in relevant fields.
Their Master of Financial Mathematics is fully available online, giving working adults the flexibility of pursuing their graduate education even while they meet their professional and personal responsibilities.
The online master’s in financial mathematics program can help you enhance your quantitative and managerial skills with engineering-driven principles.
- You will be taught how to utilize expansive knowledge, tools, and techniques in the field of quantitative finance, equipping you with skills relevant to real-world scenarios around financial derivatives, quantitative portfolio theory, and risk management.
- The program’s instructors are decorated and expert professionals who gained experience from globally popular organizations and hedge funds such as Goldman Sachs and Bank of America.
- The online format gives you a flexible and convenient schedule that can fit around your busy professional and personal life.
- You must have a bachelor’s degree in a Quantitative Discipline from a regionally accredited institution, whether in the field of engineering, mathematics, or other related sciences.
- To get admitted into the program, you should have a minimum of two years of relevant work experience in finance or related fields.
Standout Features of Johns Hopkins University’s Master of Financial Mathematics Program:
The program requires you to show competency in key disciplines, including calculus, linear algebra, differential equations, probability and statistics, and computer programming. However, if your prior education does not meet these prerequisites, you can still be admitted through a provisional status. You may get full admission as soon as you have completed the missing prerequisites by taking the said courses at Johns Hopkins or in another regionally accredited institution.
Did You Know?
Johns Hopkins University believes in academic excellence that is accessible to many aspiring students. They boast of having 78% of their enrolled student’s tuition covered by employer contribution programs, making it easier for those who cannot afford increasing tuition rates to still pursue educational attainment in an acclaimed higher learning institution.
University of Nevada
Reno, Nevada
Master of Quantitative Finance
Included among the top three percent of the country’s higher education institutions, the University of Maryland is committed to providing quality education. They offer the Master of Quantitative Finance degree program, an innovative and affordable advanced degree option that can be completed in 12 months.
This degree program helps prepare students for the Chartered Financial Analyst designation, something that is recognized and highly sought after by professionals in the investment management field.
- You need to complete a total of 30 credit hours to earn this master’s degree.
- Through this program, you will gain advanced education and training in core courses on quantitative methods in finance as well as new financial technologies.
- Some of the quantitative methods included in this program are mathematical finance theories, and statistical and computer-based techniques integral to managing and analyzing large financial data sets.
- The program also tackles relevant financial theories, including those related to capital budgeting, stocks, bonds, valuation, financial derivatives, capital structure, and portfolio management.
- You may choose among a diverse range of electives that are essential to careers in investment management, corporate finance, and the application of technology to financial applications.
Standout Features of the University of Nevada’s Master of Quantitative Finance Program:
Taught by research-active faculty from reputable universities, this master’s degree covers the newest knowledge of finance, allowing you to learn and understand how to analyze large datasets and get proper exposure to the latest Fintech applications.
The program is STEM-designated. This means international students can obtain relevant work experience in the US for 36 months upon graduation, all without needing a sponsored work visa by an employer.
Did You Know?
Since its establishment in 19657, the University of Nevada has grown into a thriving urban research higher learning institution. In fact, it has attained the highest status as a research university.
On top of its commitment to academic excellence, the university also boasts of affirmative and dynamic learning environments in the country, sitting in the top spot in the U.S. News & World Report’s list of the country’s most diverse universities for undergraduates.
University of Maryland – Robert H. Smith School of Business
College Park, Maryland
Master of Quantitative Finance
Under its Robert H. Smith School of Business, the University of Maryland offers a high-quality master’s in quantitative finance program that helps students gain in-depth and specialized knowledge of financial markets and the latest analytics techniques for a more rewarding career in the field. If you are someone who is highly methodical and exhibits good problem-solving skills, then this degree program is just right for you.
- As prospective students of this program, you are expected to be proficient in key disciplines, such as statistics, calculus, and other quantitative subject areas.
- With a total requirement of 36 credit units, this program can be earned within 3 or 4 semesters.
- Students in this program can apply for financial aid through the university’s admissions benefits, Maryland Advantage, allowing them to save money on tuition, skip graduate entrance exams, and personalized career counseling.
- The program covers a variety of areas, including financial engineering, institutional asset management, numerical methods and simulation, FinTech, portfolio management, quantitative investment, and textual analysis, among others.
- The professors are industry experts and well-connected business leaders, offering you guidance through your professional journey.
Standout Features of University of Maryland’s Master of Quantitative Finance Program:
This master’s degree allows current undergraduate students at the University of Maryland to pursue a Master of Quantitative Finance through the Plus 1 Program. This saves time and thousands of dollars on graduate tuition through the accelerated option, which will see you earn your bachelor’s and master’s degrees in one go.
Did You Know?
The Smith School of Business is one of the 12 colleges and schools at the University of Maryland. They have a range of online and on-campus degrees, from undergraduate and master’s degrees to Ph.D. programs. It is a premier, global business school that is the flagship home of Maryland’s business education. The school is known for its analytics-focused curriculum and world-renowned faculty.
Frequently Asked Questions
Is a graduate degree in Quantitative Finance worth it?
There has been a great demand for quantitative finance analysts in recent years. The Bureau of Labor Statistics puts the job outlook of financial analysts at 8% growth between 2022 and 2032, which means its growth is as fast as average. These professionals are integral in resolving financial risk management problems, making them indispensable in many financial firms and organizations.
Earning a master’s degree in quantitative finance will give your career a boost, allowing you to advance in the field as you apply skills and knowledge on asset pricing and financial securities.
What are the available career paths for graduates in Quantitative Finance?
Those who earned a master’s degree in quantitative finance will be able to carve a rewarding career by joining financial firms and helping them measure and control risk in their portfolios. Some of the positions available to you in this field include risk managers, financial engineers, derivatives traders, asset managers, fund managers, and consultants.
What can graduates expect from a Master of Quantitative Finance?
Most graduate programs in quantitative finance tackle the ways to forecast and manage risk and return. They teach applicable skills essential to pricing financial instruments, along with new computational methods and financial products. The program often builds a strong foundation of real-world quantitative portfolio management skills.
Some of the most common courses in Master of Quantitative Finance programs include interest rate derivatives, fixed-income securities, quantitative investment strategies, financial statement analysis and valuation, and many more.
Key Takeaways
- The field of quantitative finance offers plenty of opportunities to those who want to gain career advancements, develop professionally, and acquire better compensation in the field of finance. Financial analysts in the US earn a median pay of $96,220 per year, which can go even higher if you have a master’s degree under your belt.
- Some of the most common areas of concentration for this program include quantitative research, quantitative portfolio management, finance and risk management, among others.
- See our list of recommended Financial Calculators for Finance and Accounting Grad School Students.
