Financial Engineering
The Master of Science in Financial Engineering and Financial Mathematics is a one and a half year full time program designed for students who want to develop a strong command of quantitative finance, analytical modeling and computational problem solving. The curriculum brings together mathematical theory, statistical reasoning and financial market analysis to help students understand how modern financial systems operate. Through coursework and applied projects, learners gain a deeper understanding of topics such as stochastic processes, derivatives pricing, numerical methods and portfolio modeling, ensuring they build both conceptual depth and practical insight. The program’s structure supports students who want to progress quickly into highly analytical roles while maintaining a rigorous academic foundation.
Students also benefit from an interdisciplinary environment that connects finance, mathematics, engineering and data science. Throughout the program, they engage with real financial datasets, advanced software tools and research oriented tasks, which prepare them to solve complex market challenges with confidence. Faculty expertise, research support and access to industry relevant learning opportunities further strengthen their professional development. By the end of their studies, graduates emerge with advanced capabilities in risk assessment, quantitative research, financial computation and market analysis, enabling them to contribute effectively to both academic and industry settings.
Key information
Key Facts
- Program Title: Financial Engineering
- Degree Type: Master of Science
- Duration: 1,5 years
- Mode of Study: Full-time, On Campus
- Application Deadline: 15 April 2026
- Location: University of Illinois Urbana-Champaign, United States
- Field of Study: Financial Mathematics
- Language of Instruction: English
Program Structure
Semester 1 - Core Foundations in Quantitative Finance
• Mathematical Finance and Market Theory
• Linear Algebra and Optimization for Finance
• Probability Theory and Stochastic Modeling
• Computational Tools for Financial Applications
Semester 2 - Advanced Methods in Financial Engineering
• Derivatives Pricing and Hedging Strategies
• Numerical Analysis and Simulation Techniques
• Risk Measurement and Portfolio Theory
• Statistical Modeling for Financial Data
Semester 3 - Applied Research and Industry Integration
• Advanced Topics in Financial Engineering
• Financial Data Analytics and Machine Learning
• Research Project or Applied Industry Study
• Elective Modules in Quantitative Finance or Applied Mathematics
Career Opportunities
Graduates of this program are well prepared for analytically intensive roles across the financial sector, technology driven companies and research environments where sophisticated quantitative skills are essential. Many secure positions in risk management, quantitative analysis, derivatives modeling and financial data research, applying mathematical tools to real world financial challenges. Opportunities also arise in investment banking, asset management, fintech innovation, regulatory institutions, trading firms and consulting services, all of which value strong modeling and computation abilities. The program’s research emphasis enables graduates to contribute to complex forecasting, portfolio design and market risk evaluation, while those aiming for academia can transition into doctoral studies with a solid foundation in advanced quantitative finance.
Why Choose This Program
Students choose this program because it offers a strong combination of theoretical depth, practical application and interdisciplinary learning that reflects the dynamic nature of global finance. The structure supports advanced quantitative training, practical modeling experience, in depth financial analysis and research oriented development, allowing learners to build a versatile and competitive skill set. Access to expert faculty, modern analytical tools and collaborative research opportunities enhances both academic and professional growth. This program is particularly attractive for individuals who want to enter quantitative finance with confidence, strengthen their computational abilities and position themselves effectively in a rapidly evolving financial landscape.
Contact Information
For further information, please contact the graduate admissions office at:
Phone: 217-333-0035
Email: grad@illinois.edu
Address: The Graduate College, 507 East Green Street, Suite 101, MC-434, Champaign, IL 61820, United States
