In a testament to its growing prominence and appeal, The Grainger College of Engineering's Industrial and Enterprise Systems Engineering Department’s (ISE) Master of Science in Financial Engineering (MSFE) program has seen a positive shift in its enrollment trend. This year's incoming class demonstrates renewed interest in the program, with 49 new students beginning their studies, marking an increase from previous years.
The impressive enrollment figures represent a substantial 123% increase from the previous year's cohort of 22 students. Moreover, it signifies a 9% growth compared to the pre-pandemic figures of 2019, underscoring the program's resilience and continued appeal in the face of global challenges.
Adding to the program's accolades, MSFE has been ranked #5 in the Best Financial Engineering Programs by TFE Times, cementing its position as a top-tier program.
Liming Feng, Director of the MSFE program, expressed his enthusiasm about the new cohort and recent achievements:
"We are incredibly excited to welcome our largest class since 2019 to our top-ranked program. This growth not only reflects the increasing demand for financial engineering expertise but also reaffirms the strength and reputation of our program. Our new students bring diverse perspectives and talents that will undoubtedly enrich our academic community and contribute to our continued success in preparing future leaders in financial engineering."
The MSFE program is a three-semester STEM-designated professional master's program designed to expose students to the latest theories and techniques in financial markets. The program's objective is to equip students with practical knowledge they can apply even before graduation through real-world projects.
Key program features include:
- A focus on applying quantitative methods to analyze financial markets and products.
- A comprehensive curriculum covering Finance, Mathematics, Statistics, Computer Science, Machine Learning, Deep Learning and Data Analytics.
- Hands-on experience with Mathematical Modeling, Data Science, Neural Networks and Machine Learning through real-time projects.
- Emphasis on measuring, managing, mitigating and transferring risk in financial contexts.
- Access to the dynamic U.S. capital markets and innovative derivatives market in Chicago.
- Recent practicum opportunities with industry leaders include CME Group, JPMorgan Chase, Tower Research Capital, Ernst & Young, Neuberger Berman, Houlihan Lokey, Context Analytics, RCM-X, bp, JIA Finance, TrendSpider and Simply Gray.
The surge in enrollment for the MSFE program is the result of a collaborative effort across the University of Illinois Urbana-Champaign, involving the Industrial and Enterprise Systems Engineering department (Grainger College of Engineering) and Finance department (Gies College of Business), the MSFE Advisory Committee, Engineering Marketing and Communications, Global Education and Training and the Gies College of Business recruitment team. At the forefront of this achievement is the MSFE Admission Committee, whose members - Liming Feng, Ramavarapu Sreenivas, Richard Sowers, Qiong Wang, Matt Murphy, Neil Pearson and Martin Widdicks - dedicated countless hours to meticulously reviewing hundreds of applications.
"Our committee's unwavering commitment to thoroughly evaluating each candidate was crucial in selecting this exceptional incoming class," said Director Feng, highlighting the rigorous process that led to this year's enrollment success.
Director Feng also acknowledged the crucial support provided by Amy Lamb for her outstanding coordination of the MSFE admission process. Her tireless efforts in managing communications with applicants and responding to countless inquiries with patience and professionalism played a pivotal role in the smooth execution of the admissions cycle.
The MSFE program looks forward to another year of academic excellence, preparing the next generation of financial engineering professionals for the challenges and opportunities in the rapidly evolving financial landscape. With its top-ranking status and record enrollment, the program is poised to continue its trajectory of success and innovation in financial engineering education.
The MSFE program is now accepting applications for future cohorts, inviting prospective students to join in shaping the future of financial engineering. Visit the MSFE program website to learn more about the program, its curriculum and the application process. Apply today to take the first step towards a rewarding career in this cutting-edge field.