Financial engineering is one of the most demanded areas in today’s job market. If you’re thinking about pursuing your education in finance and excel at math and statistics then UCLA Master of Financial Engineering might be a perfect choice for you. This article will give you more information on UCLA acceptance rate, scholarship, financial aid, student life and many more.

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UCLA Master Financial Engineering Acceptance Rate

Admissions Criteria The UCLA Anderson MFE admissions committee considers several factors in selecting candidates.

• Ability to do graduate-level business and finance coursework
• Evidence of computational programming skills (for example, C++) and familiarity with computers as computational and management tools
• Strong quantitative background, including coursework in linear algebra, multivariate calculus, differential equations, numerical methods and advanced statistics and probability, which includes the following topics: discrete distributions, continuous distributions, density functions, sampling theory, statistical inference, hypothesis testing, ordinary least squares, t-statistics, sampling vs. population moments and chi-square goodness of fit tests
• Excellent writing, speaking and presentation abilities in English
• Evidence of experience with mathematical tools (for example, MATLAB)
• Work or research experience in a quantitative discipline (recommended but not required)
• Progress toward obtaining CFA certification
• Experience with statistical and econometric applications (recommended)

The Business School Advantage 

“I chose UCLA Anderson’s MFE program due to its location within a business school – something that most other MFE programs do not offer. Exposure to the financial industry through recruitment events, presentations by industry practitioners, and hands-on career support, have provided me with the tools I will need to apply the quantitative theories learned in the classroom to the real world.”

Chelsea Ding (’15)
Home city and country: Nanchang, China
Pre-MFE degree(s): BS, Transportation Engineering, Beijing Jiatong University; MS, Civil Engineering, Ohio State University
Summer Internship: BlackRock

ucla masters in finance requirements

Online Application

We will begin accepting MFE applications for fall 2020 mid-September 2019. All applicants must apply to the MFE program online. 

Important Application Tips:

• Please use your full legal name rather than initials, abbreviations or nicknames. The name listed on the application should be used consistently in all of your official interactions with the university.
• All application materials must be electronically received by the application completion deadline to be placed in that round. Please DO NOT mail your documents unless you are offered admission to the MFE program.
• The application is intended to give you the opportunity to present a clear picture of yourself and of the qualities you feel the Admissions Committee should be aware of when considering your application. If you do not feel the application adequately conveys such information, please supplement the form in whatever way you feel is appropriate.
• When filling in the application DO NOT submit a writing sample, a statement of purpose, a diversity statement or a fellowship application. Those items are part of the generic Graduate Division application and ARE NOT required for the MFE program. Make sure you fill out the “Master of Financial Engineering” section and the “Master of Financial Engineering – Essays” section, which will appear in the application after you have selected “MANAGEMENT MFE – MASTER OF FINANCIAL ENGINEERING” as your plan for graduate study.
• Please use the “Supporting Documents” section to upload any supplemental information (e.g. CFA and/or FRM Certificates, Coursera Course Certificates, Diplomas, etc…).

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Application Fee

A nonrefundable application fee of $200 is required. This fee is paid by credit card when submitting the online application. The application fee is not refundable under any circumstances, regardless of the admission outcome.

Academic Records

Scanned copies of transcripts from all educational institutions attended must be uploaded in the online application. Original transcripts or documents are only required AFTER  you have been admitted. Candidates must hold at least a bachelor’s degree (four-year degree or equivalent) from a recognized accredited institution. Bachelor’s degrees must be conferred prior to the September program start date.

Transcripts:

• The UCLA Anderson MFE Admissions Committee uses the transcript copies you upload with your application to do a preliminary evaluation of your academic qualifications.
• Transcripts from all educational institutions attended must be uploaded in the online application. Only admitted candidates should send us official hard-copy documents upon request.
• List on your application all of the educational institutions you have attended since graduating from high school, regardless of the period of attendance, whether or not the work was completed and whether or not the work was related to your proposed field of study.
  • International Applicants: Records needed from schools outside the United States must include multiple documents, as described here.

Required Educational Background:

• Candidates for admission to the MFE program must hold at least a bachelor’s degree (four-year degree or equivalent) from a recognized accredited institution. 
• While no specific undergraduate major is required, most students will have a degree in a quantitative subject matter, such as mathematics, engineering, computer science, physics, etc. 
• Applicants who have attended institutions outside the United States should have completed 16 years of study, 12 of these at the elementary and secondary school levels and four at the college level.
• Evidence of strong quantitative skills is required of all candidates, regardless of undergraduate major. 

GMAT/GRE

Applicants must take either the GMAT or GRE. The GMAT or GRE score is valid for five years. The Admissions Committee will accept the highest score if a particular test was taken more than once, but it will have access to all your scores.

Relevant test scores should be sent to the following institution codes:
GMAT: 2NZ-2F-21
GRE: 5988

You are required to take the Graduate Management Admission Test (GMAT) or Graduate Record Examinations (GRE) for admission to the MFE program.

• Applications cannot be reviewed without complete test scores (reported officially by the GMAT or GRE office), and applications are reviewed only in the round when scores are received.
• The GMAT or GRE test is valid for five years. 
• Official GMAT score reports are sent electronically upon your request from Pearson VUE to UCLA Anderson MFE Admissions (School Code 2NZ-2F-21).
• Official GRE score reports are sent electronically upon your request from the Educational Testing Service (ETS) to UCLA Anderson MFE Admissions (Institution Code 5988).
• We primarily evaluate your top score, but all scores reported to UCLA Anderson are visible to the Admissions Committee.
• No minimum GRE/GMAT is required, and the Admissions Committee has the flexibility to consider all scores in the context of your overall academic preparation and management potential.
• For further information and testing arrangements, please visit the GMAT or GRE website.

Letters of Recommendation

Two letters of recommendation (submitted online) are required from individuals, preferably direct professional or academic supervisors, who are well acquainted with your performance in a work setting.

Instructions:

• Each MFE program applicant must register two* recommenders’ professional email addresses (e.g., joebruin@anderson.ucla.edu) so that they can receive instructions on how to submit their letter of recommendation through the online application system. These registered email addresses should not be personal email accounts (e.g., joebruin@gmail.com).
• Evaluations should be requested from individuals who have worked closely with you and who are able to give specific information about your abilities, accomplishments and quantitative capacity.
• If you have been working less than two years, you may include academic recommendations in place of work-related recommendations.
• Letters from family, friends and coworkers are inadmissible.

*Please note: The Graduate Division requires three letters of recommendation for an application to be complete. You can work around this by entering our email address (please use mfe.admissions@anderson.ucla.edu) in the third space. In the first and last name spaces, you can type “3rd Letter.” This will “trick” the system into thinking that the recommendation section of your application is complete, and it will allow you to submit your application if you have met all other requirements.

Essays

Applicants are required to submit two essays as part of the online application to the MFE program. One optional essay may also be submitted to supply additional information you think would help us evaluate your potential to succeed in the MFE program. The application essays help the Admissions Committee become acquainted with applicants as individuals, and they demonstrate an applicant’s ability to write concisely and economically. 

The essay topics can be found within the MFE Supplemental section of the Graduate Division online application. They are as follows:

REQUIRED ESSAYS:

• Financial engineering requires a combination of mathematical/quantitative abilities and creative thinking. Describe a project you worked on, either as a student or professional, that demonstrates your analytical and creative problem-solving skills. Tell us why this project was interesting to you. (maximum 750 words)
• Why does a career in quantitative finance appeal to you? Based on your abilities and what you know about careers in financial engineering, why do you think this is the right career path for you? (maximum 750 words)

OPTIONAL ESSAY:

• Feel free to provide any other information you think would help us evaluate your potential to succeed in the program. (maximum 375 words)

REAPPLICANT ESSAY:

• Reapplicants to the MFE Program do not need to resubmit the two above essays. They are, however, required to complete and submit an essay for the following prompt
• Please describe your academic or career progress since you last applied as well as the ways in which you have enhanced your candidacy. Include updates on short-term and long-term career goals. (750 words)

Please upload essays in PDF format.

It is important that applicants respond to essay questions candidly and completely. Essays that fall significantly below the required word count will be detrimental to your application.

Essays must be written by the applicant. If it is determined that an essay submitted has been written by anyone other than the applicant, the applicant will be denied admission.

Work History / Resume

Work or research experience in a quantitative discipline is recommended but not required for admission to the MFE program. Exceptional undergraduates with strong quantitative backgrounds are encouraged to apply. 

On average, admitted students have three years of full-time experience before entering the MFE program.

Please complete the Professional Experience portion of the application and upload a resume as a PDF in the section marked “Resume/CV.” Include all full-time positions you have held, and account for any employment gaps since college. If you have only held internship positions, you may list them on your resume, however, you must indicate that they were internships and report the start and end date of each one.

TOEFL / IELTS (International Applicants)

TOEFL or IELTS scores are required of all applicants whose native language is not English. The TOEFL/IELTS is also required for students who attended a university where the medium of instruction was English, but the official language of the country was NOT English (this includes both India and Singapore).

International students who hold a bachelor’s degree or higher from a university located in Australia, Barbados, Canada, Ireland, Jamaica, New Zealand, United Kingdom and the United States, or who have completed at least two years of full-time study at such an institution, are exempt from these requirements.

TOEFL/IELTS:

• Official TOEFL score reports are sent electronically upon your request from the Educational Testing Service (ETS) to UCLA Anderson MFE Admissions by just selecting institution code 4837 – UCLA ANDERSON SCHL OF MGMT.
• Applicants who are submitting an IELTS score must request that a hard copy of their score be sent to the following address: 
  UCLA Anderson School of Management
  Master of Financial Engineering Program 
  110 Westwood Plaza, Suite C-401 
  Los Angeles, CA 90095
  
• TOEFL test scores are valid for two years. Admitted applicants are required, upon arrival at UCLA, to take the UCLA English as a Second Language Placement Examination (ESLPE), an English diagnostic test, before being permitted to register. Depending on the results of the ESLPE, you may be required to complete English as a second language courses beginning in your first term at UCLA. If English courses are required, you should anticipate spending a longer period of time at the university. Admission will be canceled if you do not pass the ESLPE. Please note that you must sit for the ESLPE regardless of your score on the TOEFL, IELTS or any other English proficiency test.

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CFA, FRM, and other Professional Designations:

Include these in the “Professional Designations” section under the “Master of Financial Engineering” tab, and upload a copy of your results in the “Supporting Documents” tab.  

Interview (by Invitation only)

Interviews are conducted on an invitation-only basis. Once an application is completed, the Admissions Committee may request an interview with a prospective student.

Our MSc is where programming and data science meet the future of finance

Master of Science in Financial Engineering (MScFE)

This field is on the rise as financial innovation across the globe drives demand for analytics and data science training.

From evaluating statistics to econometric modeling, our educators teach advanced skills that can be used in the majority of industries. Graduates are prepared for sought-after positions in securities, banking, and financial management, and can also apply their skills at general manufacturing and service firms as quantitative analysts. Building on this foundation, the comprehensive program also provides students with skills needed to succeed in presenting ideas and concepts in a professional business setting.

Credly Certification

“Hiring skilled students who come from institutions like WorldQuant University is a business imperative.”

Susan Wolford,
Former Managing Director and Head of Technology & Businesses Services Group, BMO Capital Markets

What You’ll Learn

Credly is the largest and most-connected digital credential network

Designed by industry experts, WorldQuant University’s accredited program integrates mathematical, statistical, and computer science tools with finance theory and professional business skills in a completely online and collaborative setting. Graduates are positioned to excel in today’s highly collaborative, fast-paced, professional environments.

The two-year program consists of nine graduate-level courses and a Capstone Course during which students complete a culminating project. The courses are sequentially taught and build on one another. Taking one course at a time allows you to earn your degree without disrupting your life.

All courses are delivered in an online group setting and focus on applied projects.

Along with their diploma, students who successfully complete the MSc in Financial Engineering program receive a shareable, verified version of their degree from Credly, the largest and most-connected digital credential network.

Program Outcomes

Upon completion of the program, you will be able to:Demonstrate an understanding of global financial marketsDesign and evaluate the efficacy of Python algorithms and simulationsApply machine learning to the financial marketsDescribe econometric modeling and forecasting of financial marketsEvaluate portfolios and their risk profiles using portfolio management theoryAnalyze and design financial programs using distributed ledger technologiesIdentify risks related to financial business and develop mitigation strategiesAnalyze regression, hedging, and time-series modelsEvaluate the current trends of the global financial landscape

Course Descriptions

The MSc in Financial Engineering Program consists of nine graduate-level courses as well as a Capstone course. There is a one-week break between each course.COURSE 1

MScFE 560: Financial Markets

Length: 7 Weeks

The Financial Markets course serves as an introduction to the field of Financial Engineering. It covers foundational topics including: The History of Financial Markets and Insurance; Market Regulation; Money Markets; and Bond Markets and Trading.COURSE 2

MScFE 610: Econometrics

Length: 7 Weeks

In this course, students apply statistical techniques to the analysis of econometric data, starting with an introduction to the R statistical programming languages that students will use to build econometric models including multiple linear regression models, time series models, and stochastic volatility models.COURSE 3

MScFE 620: Discrete-time Stochastic Processes

Length: 7 Weeks

In this course, students will gain an enhanced comprehension of Discrete-time Stochastic Processes including: understanding the language of measure-theoretic probability, defining trading strategies in discrete time, and creating replicating portfolios.COURSE 4

MScFE 622: Continuous-time Stochastic Processes

Length: 7 Weeks

This course covers key stochastic processes such as Brownian Motion, Stochastic Calculus including the Ito integral, the Black-Scholes Model, and Levy processes.COURSE 5

MScFE 630: Computational Finance

Length: 7 Weeks

This course provides a comprehensive introduction to computational finance with a key focus on Monte Carlo Methods in Python, Option Pricing, and Risk Management.COURSE 6

MScFE 650: Machine Learning in Finance

Length: 7 Weeks

In this course, students are introduced to principles and applications of statistical learning and machine learning, and will. During the course, students examine feasibility of learning, measures of fit and lift, and a number of learning paradigms such as logistic regression, neural networks, support vector machines, boosting, decision trees, and both supervised and unsupervised learning. At the end of the course students are also introduced to the latest trends in machine learning in finance.COURSE 7

MScFE 640: Portfolio Theory and Asset Pricing

Length: 7 Weeks

The course introduces students to single-period asset pricing including the MVP theory, CAPM, SML and CML. The course also covers multi-period asset pricing (Multi-period portfolio theory, CAPM and APT), Active Frontiers, Bayesian Portfolio Theory and Indexation.COURSE 8

MScFE 660: Case Studies in Risk Management

Length: 7 Weeks

This course uses case studies of historical financial crises to expound on the need for risk management in the modern business environment. Each module highlights the major risks faced by business and society including credit, market, operational, strategic, reputation and enterprise-wide management risk.COURSE 9

MScFE 670: Data Feeds and Technology

Length: 7 Weeks

In this course, case studies are used as a method of understanding and analyzing various data sets. The course begins with an introduction to R for Data Science, then explores C# for finance programs and concludes with a focus on distributed ledger technologies.COURSE 10

MScFE 690: Capstone Course

Length: 10 Weeks

In the Capstone Course students practically apply their understanding of the program content by accomplishing project milestones from developing a problem statement, identifying the required technology to find a solution to the problem, submitting multiple drafts for peer review and instructor feedback, and finalizing and presenting their fully-developed project.

masters in financial engineering online