Graduate school surveys by US News & World Report and the National Research Council rank the graduate programs of the Departments of Mathematics and Statistics among the top 21 in the United States. The research expertise of the Mathematical Finance faculty includes financial modeling, numerical analysis, partial differential equations, probability theory, stochastic processes, and statistical analysis. Our program is shaped by the practical experience of the faculty at quantitative finance research groups at leading investment banks and hedge funds and by their contacts with the financial industry. Admission is competitive, with a limited number of applicants admitted each year.
New York is the center of the global finance industry. This gives our program – and our students – tremendous advantages. Our courses are taught by academic faculty and quantitative finance practitioners. The program is attractive to many part-time students already working in the industry, who find a special synergy between their academic and workplace activities. For full-time students, our location close to New York and financial centers in New Jersey facilitates the process of interviewing for summer internships and long-term placement. The New Brunswick/Piscataway campus is approximately 40-60 minutes from midtown Manhattan via express or local commuter rail or coach.International Association of Financial Engineers and the Courant Institute for Mathematical Sciences.
The following books and articles provide further insight into the history and development of mathematical finance in academia and industry, as well as the developing role of graduate degrees in mathematical finance:
Our degree will be most valuable to those who wish to pursue a career in mathematical finance -- also known as financial engineering or quantitative finance -- in the investment banking and insurance industries.
Applications from prospective students with any undergraduate major are welcome to apply, provided they will have taken our prerequisite courses. If you have not taken all our prerequisites, please contact us for advice on how to complete them.
The master's degree will also be valuable for prospective students who have a PhD or who are candidates for a PhD in a scientific or technical field and who are considering careers in finance. Investment banks used to hire applicants with PhDs in mathematics or physics but with little or no financial training or experience. However, it is now difficult to obtain an entry-level associate position without industry experience or a master's degree in mathematical finance, despite many open positions.For more insight into the financial industry's interview process: