The University of Maryland Master of Quantitative Finance is a new program that the university brought to my attention. Ideally suited for those students looking to focus their studies on the more mathematical side of the finance, this degree will provide you with the data and programming skills needed to excel in any of these more sophisticated finance roles.
Overview
This is a 36-credit hour STEM designated program for recent college graduates who are methodical problem solvers and highly proficient in statistics, calculus and other quantitative subject areas. It can be completed in 3 or 4 semesters, allowing for an internship for those who didn’t have a chance during undergrad.
The program combines quantitative classes with industry specific tools. Students will study Numerical methods and simulation, Financial engineering, Credit risk modeling and utilize Python, SaS and other industry tools during their time in this program. There is also an experiential aspect of the degree where students will participate in consulting projects and manage a portion of the university’s endowment fund.
Admissions
The application for this program is pretty standard. Resume, transcripts, one recommendation, essay, GMAT/GRE and an an online application. You can apply for a GMAT/GRE waiver if you have a B in undergraduate and earned grades of B or better in statistics and/or other mathematical coursework.
Application deadlines are as follows:
- January 15 (Priority deadline for international candidates)
- February 15
- March 10 (Final deadline for international candidates)
- April 1
Note: Applications will be reviewed on a rolling basis after April 1.
Tuition for this program is broken out for In State and Out of State Residents.
| Maryland Residents | $1,630.64 per credit / $58,680 |
| Non-Maryland Residents | $2,115 per credit – Master of Finance/Master of Quantitative Finance / $76,140 |
Class Profile
- Average Age – 24
- Average GPA – 3.4
- Average GMAT – 639
- Men/Women – 54% / 46%
- Years of Work Experience – 1 Year
Career Outcomes
The website has some information salaries and placements. Couldn’t find a full report, but the information I did find looks promising.
- Average Starting Salary – $90,000
Firms that have hired MQF Students:
- Ant Financial
- BlackRock
- Citi
- Capital One
- EY
- FreddieMac
- Riskspan
- UBS
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This would be a great program for anyone looking for a quantitative background in finance. Placements look really good and there are some good scholarships to bring the cost of the program down. The class profile looks reasonable as well. I will try and find out more about this. The University has a bunch of student experiences and online sessions to learn more so I encourage anyone interested in this degree to go to these and learn more.
Here is a link to the University of Maryland Master of Quantitative Finance
