The financial industry has become increasingly volatile and complex because of which it is highly crucial for the financial system to be efficient in order to stimulate economic development. Specialists and professionals with a strong analytical background along with the ability to understand the potential innovations required are in great demand. The Financial Engineering courses allow individuals to deal with the creation of new and improved financial models through creative design and amending the existing financial instruments. Moreover, it plays a very important role in increasing the finance source to meet the demand of investors.
But, before you directly jump into what all courses have to offer, it is necessary for you to first understand what exactly is this Financial Engineering, because this is something different than those traditional engineering courses like Computer Science Engineering, Electronics and Communication Engineering, Electrical Engineering, Civil Engineering, etc.
This Blog Includes:
- What is Financial Engineering?
- Responsibilities of a Financial Engineer
- Why Study Financial Engineering Courses
- Financial Engineering Courses: Essential Skills
- Financial Engineering Courses
- Eligibility Criteria
- Top Universities for Financial Engineering Courses
- Job Opportunities
What is Financial Engineering?
Financial Engineering is a science-based multidisciplinary course offering the use of mathematical finance and computational knowledge to determine the potential risks of financial investment instrument and the ways to manage it. The study of financial engineering is applicable to financial regulation, portfolio management, trading, and structured products. Professionals in financial engineering, often known as “quants” use mathematical formulas, engineering, and programming methods in financial theories to analyze the market trends. With this, they are able to construct data-backed financial models.
Responsibilities of a Financial Engineer
- Analyse the market behaviour and changing trends
- Create and develop real-time financial simulating models
- Generate accurate marketing prediction using the simulation model
- Build profitable investment plans for individuals and organisations.
- Advice and counsel governments with market economies.
Why Study Financial Engineering Courses
The field of finance attracts engineers because of its glamour and the high compensation packages it provides. Therefore it is interesting to identify the reasons for students to explore courses in financial engineering. Some of the reasons to pursue Financial Engineering courses are:
- Top universities and business schools are offering a world-class academic qualification in financial engineering. These educational foundations are globally recognised, making it easy for students to opt for developing courses.
- Financial engineers, who possess
computer expertise and deep mathematical modelling skills are in demand because
of the growing financial industries all over the world.
- The course offers students to
develop advanced mathematical calculations and expertise in financial
- Knowledge of the world financial market, allows individuals to take advantage of improving their own financial health.
Engineering Courses: Essential Skills
There is a range of skills to develop in order to establish a lucrative career in financial engineering.
- Communication Skills: To move ahead in the career ladder, it’s important to have an articulate communicative nature. A financial engineer is supposed to be spontaneous, inquisitive and outgoing. You need not be someone who is a refined speaker, but all you need is to put your ideas and thoughts clearly. English is known to be the universal language for business and finance, therefore it is important to have a proficiency in the language.
- Programming: A financial engineer must have the knowledge and expertise in programming languages such as Hadoop, Java, .NET, C++, Python, Perl, C#, MATLAB etc which will help in grabbing better job opportunities.
- Mathematics: It is vital to have your mathematical concepts clear when planning a career in financial engineering. Expertise in linear algebra, spatial geometry, stochastic calculus, and differential equations are some of the major mathematical disciplines very important for a financial engineer in developing simulating financial models.
- Finance and Economics: These two courses aren’t really that important when it comes to quantitative trading, however, they definitely give a financial engineer a well-developed and constructive approach towards the finance market.
- Updated with Information: A financial engineer is required to understand the finance market and develop predictive financial models. Therefore, it becomes crucial for a professional to always be updated with the latest market trends through active reading and extracting information.
Recommended Read: Importance of Reading
There are opportunities abound for students who are efficient with numbers and business and are aspiring to develop their skills and expertise in the field of financial engineering. Below is a list of major Financial Engineering courses that you can invest in:
- BSc in Financial Engineering
- BSc (Hons) in Financial Engineering
- BBA in Financial Engineering
- Bachelor in Banking and Financial Engineering
- MSc in Financial Engineering
- MSc in Financial Engineering and Risk Management
- MBA in Financial Engineering
- MF in Financial Engineering
- Master in Financial Engineering
- MEng in Financial Engineering
- MA in Financial Engineering
- PhD in Finance
- PhD in Financial Management
- PhD in Accounting
- The applicant must have completed 10+2 or equivalent.
- A bachelor’s degree in business administration or an undergraduate degree in a related field of a recognized standing deemed equivalent by the program administration.
- A minimum work experience of 2 years and an updated CV/resume. (* this may be preferred, but not compulsory in all the universities)
- IELTS or TOEFL score
- Cambridge CPE, PTE or CPA score (* this may vary from country to country and university to university)
- Transcript or certified copies of all the degrees.
Note: These are some basic requirement, which may differ in various universities. However, it is always recommended to check with the university page directly. In case you are still confused, you can reach to the experts at Leverage Edu, who will help you understand all the eligibility requirement in detail.
Top Universities for Financial Engineering Courses
Here is a list of globally recognised
universities and colleges offering financial engineering courses to aspiring
students across the world.
- University of California, Berkeley
- Imperial College London
- University of California, Los Angeles
- Malardalen University
- KU Leuven, Belgium
- University of Manchester
- Vilnius Gediminas Technical University
- University of Pretoria
- York University
- University of Liverpool
- Nanyang Technological University
- HEC Montreal
- Pace University
- University of Essex
- University of Reading
- London Metropolitan University
- Claremont Graduate University
The growth in the financial industry demands skilled professionals who can help in accurately determining the next big step in the investing practices. Therefore, gaining an academic qualification in financial engineering along with developed expertise, you can readily go for the following list of job opportunities:
- Account Manager
- Risk Manager
- Asset Manager
- Portfolio Manager
- Hedge Fund Manager
- Corporate Finance Advisor
- Investment Banker
- Financial Analyst
- Financial Regulator
- Derivative Trader
- Derivative Analyst
- Developers of Specialized Securities
- Professor of Finance
A career in financial engineering has immense potential because of the growing financial market worldwide. If you’re enthusiastic to use your mathematical and scientific knowledge in the finance industry, go for financial engineering courses. Also, the experts at Leverage Edu are here to help you choose a university perfect for your career in finance.