The study time of the American Master of Financial Mathematics is generally 1 year. Like MBA, it is a professional education rather than an academic research education, so there is no need to write a master's thesis. In the United States, talents with master's degrees in financial mathematics are hot in the market, and they are basically employed by major investment banks, fund management companies, insurance companies and venture capital companies. Below, I compiled a 20 18 application requirements for financial mathematics in the United States | successful cases | employment prospects.
1. Introduction to American Financial Mathematics Specialty
American financial mathematics major is a subject that comprehensively applies mathematics, statistics and computer programming techniques to solve financial problems. It is an interdisciplinary subject that combines finance, mathematics and computer science. Therefore, for students who have good grades in science and are interested in finance, financial mathematics will be a very good choice, and this major provides graduates with science and engineering backgrounds with opportunities to change careers.
The course of financial mathematics is usually taught jointly by the business school, mathematics department and engineering college of the university. Because the course focuses on the financial field, it is far more in-depth than the MBA financial course, and usually includes stock market analysis, portfolio analysis, futures and options, asset pricing, capital budget, fixed income analysis, interest rate model, financial risk management and other courses.
Financial mathematics has different names in different universities: financial engineering, financial mathematics, mathematical finance and computational finance. However, whether it is called financial engineering, financial mathematics, mathematical finance or computational finance, their essence is the same, and they all use mathematical tools to build financial market models and solve financial problems.
Second, the United States financial mathematics professional application requirements
1. Professional background: In addition to people with backgrounds in finance, mathematics, economics, statistics and econometrics, people with backgrounds in other fields such as computers, physics, chemistry and engineering are also very popular applicants. And in these "majors", students with engineering background account for nearly half.
2. Mathematical ability: Financial mathematics requires applicants to have a good mathematical background. If you are not a math major, you are required to get better grades in some math courses. If some course applicants have not studied the courses required by the school, they can make up these courses before studying professional courses, and then study professionally.
3. Computer ability: There are many kinds of programming languages, and there are three common languages for metalworking/mathematics majors: C++, JAVA, Python and so on.
4. Knowledge base of economy and finance: The application requirements of financial mathematics do not put the knowledge base of finance as a very rigid requirement in the admission requirements, but as an applicant, if he can't accumulate financial knowledge and know nothing about the content of financial mathematics, it will inevitably affect the tendency to make application materials and the application results.
5. Other requirements and precautions
Foreign language proficiency: financial mathematics is generally IBT 80+ and GPA3.0 (but the focus is on the scores of several mathematics and computer courses).
Letter of recommendation: Try to find two math teachers to write letters of recommendation, and the other can be a teacher majoring in finance or computer science.
As a student with no work experience, be cautious about the 1 project, because it is not like the 1.5 or 2-year project, which has summer vacation to find an internship.
Third, the successful cases of American financial mathematics
1. Case Analysis of Successful Application for Master of Financial Mathematics from Columbia University
Name: student d
Graduate school: a university in Canada
Undergraduate major: financial mathematics
Average grade of undergraduate course: 3.7+/4.0
Test scores: TOEFL is free; GRE 325+ score
Software background: There are related internships and rich scientific research projects.
2. Successful application case of Master of Financial Mathematics in new york University.
Name: classmate Z.
Graduate school: a university in Shanghai
Undergraduate major: Mathematics
Average grade of undergraduate course: 3.8+
Test scores: GRE 330+; TOEFL 105+
Fourth, the employment prospects of financial mathematics in the United States
Domestic employment situation:
In China, the financial market is far less open and mature than the American market. Although many well-known investment banks or commercial banks have branches in China, such as Morgan Stanley and Citigroup, it should be said that these branches in China are not all investment banks and commercial banks in the American concept. In fact, their business in China is relatively small.
The main business is industry research and customer consultation. In this way, the employment direction of financial mathematics major is rather strange. The preliminary arrangement of the latest market data has become the main content of the work, which is actually only the basic work content of financial mathematics. But financial mathematics has a special industry in China, which is the development of financial trading system. Through these softwares, many individual investors can participate in the tide of financial investment. Compared with foreign countries, financial investment is value investment, and investment in China has become more speculative. There is no doubt that mature trading software has this very good market. The emergence of financial engineering can undoubtedly help this trading software become more mature and stable.
Looking back, China's financial market is developing, including the financial engineering major in the United States, which has just been taken seriously. It will take some time to reach the level of the United States. We can think that the major of financial mathematics will be the major with the most development potential in the financial direction.
Employment abroad:
People who do financial mathematics on Wall Street in the United States will call themselves Trade or Quant. There is a website called Quant. com, which discusses the employment of financial mathematics schools every year. It is not difficult for us to know that the employment of financial mathematics is often the backstage service of an investment company, which is closely related to the data update in the financial market. The best masters in finance in the United States, such as MIT and Princeton, are actually courses in financial mathematics. It is the trend of financial development that financial research focuses on mathematics. Just like this, the employment of financial mathematics is often the kind of high-risk and high-return financial investment industry, such as hedge funds and investment banks. In contrast, some large commercial banks have little advantage in financial mathematics because the applicants they accept have both financial and economic backgrounds.
The application and employment of financial mathematics in the United States is introduced here for everyone, hoping to help the applicants.