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North Carolina State University Financial Mathematics program

NCSU Financial Mathematics program

  1. Jeff Scroggs
    Established:
    2002
    Type:
    Full-time, part-time
    Tuition:
    per semester $8,286 (resident); $15,547 (nonresident)
    Application deadline:
    Feb 1 (preferred), rolling admissions
    Location:
    Raleigh, NC
    NC State’s Financial Mathematics Program is known for rigorous training in the core areas of probability, statistics, modeling, investment theory, stochastic processes, and economics. The depth of understanding prepares students to respond to today’s rapidly evolving, world-wide economic and financial landscape. During the 18 month program, students are encouraged to build on the core with a focus in areas such as business management, statistics, mathematics, or risk management.

    Official website: NCSU Financial Mathematics
    Official blog: www.ncstatefinancemath.com
    _________________________________________
    The 18-month curriculum requires 7 core courses, 3 electives, and a private-industry internship (or project), and career skills seminars.

    Students have held internships and jobs at Duke Energy, Bank of America, Wells Fargo, BB&T, SAS, Credit Suisse, Genworth, Goldman Sachs and companies all over the world.

    Required Classes

    Semester One Core Requirements (Fall)
    Capital Investment Economic Analysis (ISE 711)
    Statistical Theory I (ST 501)
    Asset Pricing (ECG 528)
    Career Development (Student Seminar)​

    Semester Two Core Requirements (Spring)
    Financial Mathematics (MA 547)
    Statistical Theory II (ST 502)
    Monte Carlo Methods for Financial Mathematics (FIM/MA 548).
    Career Development (Student Seminar)​

    Semester Three Core Requirement (Fall)
    Computational Methods in Economics and Finance (ECG 766)​

    Electives Classes (Tracks).

    Choices for the electives are quite extensive, so we developed Tracks to help guide your selections.

    Data Science

    CSC 505 - Design and Analysis of Algorithms
    CSC 522 - Automated Learning and Data Analysis
    MA 540 - Uncertainty Quantification for Physical and Bio. Models
    ST 540 - Applied Bayesian Analysis
    ST 564 - Statistical Thinking and Big Data
    ST 562 - Data Mining with SAS Enterprise Miner​

    Risk Management

    FIM(MA) 549 - Financial Risk Analysis
    ISE 519 - Database Applications in Industrial and Systems Engineering
    MBA 515 - Enterprise Systems
    MBA 518 - Enterprise Risk Management
    MBA 527 - Corporate Risk Management
    MBA 521 - Advanced Corporate Finance​

    Actuarial Science

    ECG 701 & 702 - Microeconomics I & II
    ECG(ST) 750 - Introduction to Econometric Methods
    ECG(ST) 752 - Time Series Econometrics
    ECG(ST) 753 - Microeconometrics
    MA(ST) 747 - Prob. and Stoch. Processes II
    MBA 518 - Enterprise Risk Management​

    Portfolio Management

    OR(ISE) 504 - Introduction to Mathematical Programming
    OR(ISE) 505 - Linear Programming
    OR 506 - Algorithmic Methods in Nonlinear Programming
    MBA 523 - Investment Theory and Practice
    MBA 524 - Equity Valuation
    MA(OR,E) 531 - Dynamic Systems and Multivariable Control I
    ISE 519 - Database Applications in Industrial and Systems Engineering​

    Career Services. Financial Math students have access to a wide array of career services
    • Friday Seminars- Industry-related presentations & projects
    • Financial Math Program’s Workshop Series
    • Customized, One-on-One Career Counseling
    • Career Fairs and Professional Networking Events

    Please contact us: Financial_Mathematics@ncsu.edu
    Dendi Suhubdy and Jeff Scroggs like this.

Recent Reviews

  1. Anonymous
    Anonymous
    5/5,
    O yeh, Rigorous and PITB program. It's upto you how much you learn and groom. Program getting very popular. After graduation, I got interview calls from top industry fin.cos. Smaller class size, Quantitatively rigorous.

    Don't waste your time in copying others' homeworks. Work hard cz companies ask so many tricky questions. Best course was Computational Methods in Eco & Fin (P. Fackler) but sadly no project now. This course helped me in performing well in many interviews.

    Pros:
    Good professors, many options for courses, small class size, RTP/Charlotte (a new fin hub) edge, good reputation, successful alum, low tuition and living cost, awesome weather and beaches around.
    Cons:
    Some demanding topics not covered in any course, few exclusive fin math professors, weak connection with business school, career service improving but not best, bigger percentage of Asian students' intake (balance is the key to derive benefit from global diversity)

    Forsee bright future of the program if persistent efforts from director and career director.

    Advice: Don't copy paste homeworks, assign....don't try to memorize and rely on past exams. you will be butchered in job market.
  2. Anonymous
    Anonymous
    5/5,
    I am a graduate of this Program and I must say that It was one extremely rigorous program of the State. Overall program is tailored in such a way that the entire emphasis is on developing Mathematical/quantitative skills of the students instead of general business school approach (broader general knowledge) and this is the best part of the program since it is not an MBA. So if you want fun --> go for MBA or Master of Management etc. (Yes this is not a right program for you). On contrary, those who want to learn real Financial Engineering skills, this program would give you full liberty to tailor your career and build your strength.

    As highlighted above, the best part of this program is that it is established in Mathematics Department, so professors and faculty mostly talk about quant/maths stuff instead of sticking around CAPM model for entire 2 long years ;) .

    Second, you would find world's best professors in Maths Department of NC State. I found them super awesome in delivering concepts and knowledge.

    Third, you almost have liberty to choose any course from different schools (Maths, Stats, Computer Sciences, Economics, Business School, even in Kenan Flagler, Fuqua Duke etc). You can go in any direction as per your career path such as Computational Finance stream by taking courses at Comp Sc school, Math intensive stream, Business Stream by taking all electives in business school, Economics/Econometric stream, Operation Research etc.

    Fourth, gradually this program is getting popular in industry due to it's competitive alumni in very good jobs especially in RTP area. Exclusive career service director is working good in making connections in the industry and recent graduates got good jobs while many enrolled students got very good internships (eventually leading to the jobs)

    Fifth, the school has small class intake, which is great too because students can get closer attention of the professors in core classes.

    Regarding core courses, the courses are very good and faculty is amazing. Program director is a good person and very helpful.

    Best suggestion is to prepare yourself before start of the program and build your statistical and mathematical knowledge beforehand.

    Program should consider restructuring few courses and should introduce some unique/latest courses.

    Overall my experience to the program is very satisfactory, i got maximum out of the program, enjoyed my stay at school, attended good seminars, met international students from all over the world in different elective classes and many more.

    Note: This program is Work hard, No play at all :(

    Great Professors to work/study with: Dr. Tao Pang, Dr. Paul Fackler, Dr. Antje Berndt, Dr. Min Kang and Dr. Scroggs (Director).

    Goodluck
  3. Dendi Suhubdy
    Dendi Suhubdy
    5/5,
    I entered the financial mathematics program at NCSU on 2012. Since then I took a load of mathematics and statistics courses till the completion of my program. Several courses that I personally highlight as part of the main course of the program are
    1) C++ for financial mathematics (taught by Professor Scroggs): one of the most important courses that will help you understand data structures, OOP for developing your skills in C++.
    2) Asset pricing (taught by Professor Antje Berndt): this course is the best course in terms of options and futures pricing. You should pay attention to this course since it will be useful for future interviews in the hedge fund/Investment banking industry.
    3) Financial mathematics (taught by Professor Tao Pang): this course will depthen your ability to use stochastic calculus for pricing derivative assets. I highly suggest you to brush up linear algebra, calculus, and probability theory before taking this course.
    4) Optional: Computations for Statistical Research (taught by Doctor Eric Laber) and Advance Computing (taught by Doctor Chi): both of these courses are marvelous since it teaches computing in an applied mathematical way. It will show you how to compute algorithms in Python (which is extensively used in the industry) and also in R/Julia (which is a new thing in statistics). Doctor Chi has been a wonderful mentor through this learning process, and if anyone is interested to be in machine learning, he is the best lecturer in NC State.

    Over all the experience that I had in this program was very good. Recently there has been high interest from recruiters like Credit Suisse and Bank of America that would recruit from this program.
  4. Anonymous
    Anonymous
    4/5,
    The Financial Mathematics program here at NC State offers the best courses available. Overall, you have to take 7 core courses and 3 electives and the electives can be chosen based on the different career tracks provided by the department. This way the students will have a clear picture to get to know their area of interest. Another best part is students are trained to get the BASE SAS certification in the first semester itself and are assigned projects. The course work will help you to get the knowledge of SAS, R , Matlab, C++ and MS-tools, which will be very helpful during the job search.
    The program has a career development program, which helps the students to improve soft skills. The Friday seminars is one of the biggest strength to the program. It helps the students to improve their communication skills through mock interviews, presentations and many more. Also, the Friday seminars stand to be a very good platform for networking with industry professionals. Overall, I would say that, the program not only helped to enhance my finance knowledge but also it helped a lot in improving my people skills, which is very important to land in a good job
  5. Anonymous
    Anonymous
    5/5,
    As a Financial Math student I can say that I feel very confident about this program and I feel I made the right decision to join.
    The program not only offers a good variety of core classes, but depending on the career track one can choose variety of electives. All the staff is available to answer any questions that the students might have.
    The most distinct feature of the structure of this program is that the program wants the students to the "job-ready". I have not come across any other program that works on the soft skills of students while building on their technical knowledge. We have seminars which focus on developing the soft skills that a company looks for when it hires a candidate. The program makes sure that once you apply for jobs, you are not only well equipped with all the technical knowledge but you also have the soft skills such as presentation skills, communication skills etc.
    It is a known fact that if a company hires a candidate they want someone is an all rounder in the sense that not only can that person apply his/her technical knowledge at work place, but can also communicate well with other colleagues and can present what work they have done.
    The program staff also makes sure to give opportunities to students who want to get hands on experience in the work field. What better way to do than when you are actually studying.
    I have had a wonderful experience with Financial Math program and I would recommend it to everyone who is looking for a great learning experience.
  6. quangu
    quangu
    5/5,
    This program gives you the most flexibility for your future career. Based on mathematics, you can involve with Finance, economics, statistics, computer science and even business. As long as you have a clear goal and what kind of person you would be, this program can carve it will professionals.
  7. Anonymous
    Anonymous
    4/5,
    As a current student, I found this program focus on statistic and math more than finance. May be because it is based on math department. These rigorous courses could help you launch a job in data mining, risk management etc
    With the help of career service , many international student found their internships/full-time jobs. Of course, good location with low living cost is a big plus.
  8. Anonymous
    Anonymous
    4/5,
    The NC State Financial Math program is getting better and better from what i see,students have over 30 classes to take from five different departments though i do hope more finance classes w i l l be offered. Everyone is working hard here. Now the program has strong connection with the industry which provides many opportunities for students to meet and talk with professionals. Three December graduates all find their jobs and I believe this program is really worth it.
  9. Anonymous
    Anonymous
    3/5,
    Pretty good.
  10. Anonymous
    Anonymous
    2/5,
    As a recent graduate from NCSU, I have to say this program has a horrible attitude towards its student.

    It is a professional master degree, but the professors and the program directors spent very little time to help you find a job. Instead, they low your GPA, delay your graduation time and basically try their best to stop you from getting a good offer. For example, MA547 is a core class in this program and everyone has to take it and B is the minimum passing grade. Last year, Dr. Pang failed 1/3 of the student in the class so they have to take a 4th semester to finish the program while you normally only need 3 semesters to graduate. This year, 12 out of 29 people in this class get their GPA hammered and are forced to take a fourth semester to graduate. If you want the students to get a job, stop give the majority of the class B and delay their graduation.

    The program director, Dr. Jeff Scroggs either doesn’t understand anything about the current job market or couldn’t care less about the future of the students. There is no company conducting campus recruitment for this program and no real alumni network. You are on your own to get jobs. So family connections are the most common way people land an internship/job. This year, only three people received summer internship in United States. With such a program director, it is not surprising that this program has horrible job placement. It used to be among the top 20 programs in Financial Engineering but now it’s in the middle of nowhere.

    Overall, I don’t recommend this program to anyone who wishes to find a good job in US. The faculties don’t put student’s benefit as their priority and ignore much of the students’ need. Instead of treating students as their current customers and the future donors, they still believe that they are the professors so they can do whatever they want. Unless they change the program director, I don’t see how this program will get better in the future.