C++ Programing for Financial Engineering Online Certificate. Join hundreds of graduates from over 35 countries on 5 continents.

Advanced C++11/C++14 and Multidisciplinary Applications Online Certificate. Launched in January 2017.

  1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Rutgers University Quantitative Finance program

Rutgers MQF program is offered by Rutgers Business School

  1. QuantNet
    Type:
    Full-time, part-time
    Tuition:
    $58,317 (non-resident), $35,445 (resident)
    Application deadline:
    Apr 1
    Location:
    Newark, NJ
    place holder

    Images

    1. Rutgers-MQF.jpg

Recent Reviews

  1. Jenny Zhang
    Jenny Zhang
    5/5,
    45 Credits in total compared 30 credits of most of the MFE programs. You could choose course in different area: math, programming, data analysis, system simulation, finance, accounting, etc. You also have many choices in New Brunswick. That means you have so many rooms to tailor the course with your career goal and interest.
    The career services is excellent too. For example, this year, the career adviser bring several big name company to our program to conduct projects with students. Also many industrial people will be invited to give speeches in workshops.
    The location also add great points to this program. 20 mins to WTC, 35 mins to mid town Manhattan, which makes to easy to participate in different events or interviews.
  2. Biying Tang
    Biying Tang
    5/5,
    MQF class of 2015

    Background
    BA in Economics
    No full-time work experience before attending MQF program

    Coursework

    10 core courses plus 5 elective courses required to complete the degree, some core courses are substitutable with certain electives

    Students are allowed to take certain courses under other departments

    Some courses have very heavy workload, some are comparatively light; most courses are of high quality and easy to follow

    As a student with little programming background, I was able to master multiple programming languages though homework and projects.

    Career services

    The new career adviser is very professional and helpful.
  3. Qidong
    Qidong
    5/5,
    MQF class of 2008

    Before I attend MQF program, I had an education background of bioinformatics. I wanted to have a career switch at that time. So I chose the quant program at Rutgers. It turned out that it was the right choice. First, this program has diverse courses to choose. You can learn sophisticated math theory if you are good at it, or you can choose finance/economics/accounting courses if you like to explore finance. As far as I know, many other programs only offer or specialized in one side, but not both. Second, the professors are exceptional. The classes are well organized and they are extremely helpful in connecting the industry. I got my first internship in the first few months after attending this program. Third, there are many alumni working at wall street, which are the most powerful resources in job hunting and career development.

    After working several years at different rating agencies/ banks, I am proud to say I made a right choice attending MQF program.
  4. Anonymous
    Anonymous
    5/5,
    MQF class of 2015

    BS in Engineering

    Cursory research of the program shows it provides a balance between math, finance, and programming that many other programs are skewed in. After attending here, I believe my assumptions to be true for the most part. While course offerings are not very diverse each semester, there is bound to be opportunities to take very interesting electives. Core classes are flexible enough where time is not an issue. Coursework is reasonable enough to get proper practice without being overwhelming. Teams are important, and building of teams is encouraged in and out of the classroom setting.

    Career advisory was lacking the first year. Many company visits, but not many practical opportunities. New career advisor is excellent. Works hard to provide opportunities for all students. Very personal and hands on in assisting each and every student who asks for help.

    The biggest issue with the program is the structure of the courses. While the time when classes are taken is flexible to arrange, the sheer number of core classes makes specializing very difficult. Also, some courses do not focus on application enough.

    Overall, the program is a great experience. For the most part, professors are excellent. Even if a professor may not teach material or in a manner suited to one's needs, the professor is still very helpful in other aspects of academic and career development.
  5. Anonymous
    Anonymous
    4/5,
    MQF class of 2016

    Background
    B.Tech in Electronics and Communication Engineering
    14 months work-ex in IT sector

    Career Services
    The no.of job postings on Rutgers MQF career website is limited. Rutgers NB career portal is a better choice. However, over the last few months the career service of MQF improved a lot. New Career director takes every case personally. Most of us received calls or leads in the last one month. I will be working as an intern in one of the rating agencies for this summer.

    Why Rutgers
    Close to NY. Great chance to network
    Large no.of Rutgers alumni are in Financial services and are approchable
    Relatively flexible

    Coursework
    Wide range of electives. you can choose MBAs and MFin electives.
    You can take basic courses in Finance (A very good introduction for non finance students by Prof Castelino) , programming (C++, Sql, Phyton) and Probability and statistics
    Prof. Steven Dym (options. He will be teaching Fixed Income as well from 2015) and Prof. Rusczynski (optimization and Stochastic calculus) are the best faculty of this program
    Financial Time Series (Mandatory course) Hw’s are very practical. However, if you lack background in statistics it will be challenging.
    Term projects in Fixed income and Numerical Analysis are industry oriented
    Financial Modeling I (taught by Dr. Wu, The director of the program) assignments are very practical. He emphasizes on intuition behind every concepts
    You can also take exotic electives such as Quant Equity trading (based on market microstructure and technical trading), Indexing and ETFs (Includes guest speaker sessions), Applied Portfolio Management (Equity Research - Provides networking opportunity with high profile people in industry) and Compliance

    Disadvantages
    Course structure. It would be more beneficial if students are allowed to choose electives and core courses to specialize in a particular stream
    Few courses such as econometrics are very theoretical in nature ( I did not take the course. I am writing this based on my friends review)
    More interaction across all Finance specialization of Rutgers
    No online refresher courses prior to join the program
  6. anonymous
    anonymous
    3/5,
    Lots of theory, limited application

    What do you think is unique about this program?
    Closeness to Mahattan is a unique characteristic due to the large number of finacial firms, and the ample opportunities to attend industry conferences, education seminars, and networking events.

    What are the weakest points about this program?
    The lack of practical application to real world finacial careers. While there is plenty of emphasis on purely academic work, it would nice to put some of it to work in a classroom setting. It would also be good to get some VBA experience as that can enhance any career. I also felt that too many professors have trouble conveying difficult topics.

    Career services
    This has been revamped since I was a student. New coordinator seems dedicated to helping students. The general business school career department is solely geared toward MBA students and can't provide much useful assistance. That being said, Dr. Wu does a nice job of exposing local companies to the program which leads to job opportunities.

    Student body
    Small number of American born studends with high levels of Asian students.
  7. mattari
    mattari
    3/5,
    Very thorough and generates a deep understanding of financial concepts.

    What do you think is unique about this program?
    Interesting.
    Unique
    Very mathematical and concept oriented.

    What are the weakest points about this program?
    Does not give students the opportunity to select some courses and be flexible.

    Career services
    Still in the beginning stage. Not very helpful.

    Student body
    Diverse and helpful.
  8. Guest
    Guest
    4/5,
    Can you tell us a bit about your background?
    3 years of industry experience followed by a Ph.D. in economics
    I who studied part-time in the program from 9/2009 to 5/2011

    Did you get admitted to other programs?
    Yes

    Why did you choose this program (over others, if applicable)?
    Was already a Rutgers student in the Economics dept. Value of program is better than other programs

    What alternative sources of info you used to learn more about the program?
    Online research, compared coursework of other programs
    Tell us about the application process at this program
    Applied online, submitted GRE scores and grades online

    Does this program offer refresher courses for incoming students? What do they offer and how much it costs?
    Yes, very brief introduction to finance course (free)

    Tell us about the courses selection in this program. Any special courses you like?
    There are a total of 16 courses (equivalent of Ph.D. program). There is a big lack of advanced statistics courses and stochastic calculus courses. This is remedied by speaking with the director and substituting courses to make up for this lack. The courses available in the Newark Campus are unfortunately very elementary (Microeconomics, Probability, Stochastic Processes, etc). I took these in the New Brunswick (top 25 math/stat programs) and the quality of the courses is much more advanced.

    Tell us about the quality of teaching
    New Brunswick's courses are much more rigorous than Newark's courses. However, most professors are excellent and care about their students.

    Materials used in the program
    Very good texts are used (if you take the NB courses), including Shreve, Hull, O'Kane, among others. For NB's microeconomics course, Rudin is used to build the advanced models.

    Programming component of the program
    1 course in c++ and 1 course in java, coupled with heavy use of Matlab

    Projects
    Wrote a paper which described liquidity premiums in fixed income markets using Markov chain Monte Carlo simulations (this is in an elective statistics course, in New Brunswick)

    Career service
    Rutgers Business School's Office of Career Management was absolutely useless. I used the equivalent service in New Brunswick (Rutgers CareerKnight), providing me with interviews at major invesment banks, consulting firms, and government agencies for quantitative interviews. I received a summer internship in fixed income quantitative analytics (using CareerKnight to interview). My score below will be for CareerKnight and not RBS OCM

    What do you like about the program?
    Great overall financial engineering education. It is what you make of it. You can speak to the director and substitute classes (case by case basis). This will make your education much better.

    What DON’T you like about the program?
    Obvious gaps in the program structure coupled with absense of flexibility.
    The quality of the Newark courses is abysmal (particularly microeconomics and probability). This is remedied by taking the same courses in New Brunswick. This program has a huge need for advanced statistics (particularly time series analysis). It would also need another semester of stochastic calculus. The programming aspect is a bit too simplistic.

    Suggestions for the program to make it better
    Add a time series analysis course (Econometrics 2, NB campus, Prof Swanson), add another semester of stochastic calculus. Get rid of the java course and add a rigorous quant dev class (Computational Finance, NB Campus, Prof Feehan). Teach microeconomics more rigorously (real analysis, topology, advanced risk models) (or take in NB campus). Get rid of probability and add a rigorous measure theory course.

    What are your current job status? What are you looking for?
    Offer in fixed income quantitative analytics (begin July 2011)

    Other comments
    This is a great program, if you take most courses in New Brunswick and use CareerKnight in NB instead of RBS OCM
  9. intentionally anonymous
    intentionally anonymous
    4/5,
    Can you tell us a bit about your background?
    A master's in mathematics and a PhD in a field not related to finance. GPA 4.0, GMAT 710
    I studied part-time in the program from 9/2006 to 12/2010

    Did you get admitted to other programs?
    No, I chose not to apply that year

    Why did you choose this program (over others, if applicable)?
    I needed a program that would allow to take only one or two courses at a time in a flexible order and stay close to home (family circumstances)

    What alternative sources of info you used to learn more about the program?
    University website provided good overview of the program.

    Tell us about the application process at this program
    I applied offline and got positive response almost immediately

    Does this program offer refresher courses for incoming students? What do they offer and how much it costs?
    There was a free-of-charge week's long orientation course going over introduction to finance prior to the start of the program.

    Tell us about the courses selection in this program. Any special courses you like?
    The list of courses required to receive this degree is very rigid. If I remember correctly off the top of my head, there are only 2 elective courses to be selected. The core list is generally well thought-through, with one major blatant exception: the program provides no courses in time series and advanced statistics. Given that taking those courses as electives requires traveling to a different campus at odd time of the day, this effectively means that those courses are not available to part-time working students even if they realize that they lack those.

    Tell us about the quality of teaching
    The courses are generally skewed toward theory, but I would not say it is a disadvantage. There is some limited number of courses taught by current and former practitioners as well (risk management, numerical analysis, financial institutions). Teching quality falls within a huge range, from excellent in-depth theoretical courses (probability and stochastic processes, systems simulation) to somewhat less laudable.

    Materials used in the program
    Hull – Options Futures and other derivatives;
    Shreve – Stochastic Calculus for Finance;
    Cochrane – Asset pricing;
    Etheridge – A course in Financial Calculus;
    Baklawski - Introduction to Probability with R;

    Programming component of the program
    MatLab is used throughout many courses; C++ and Java are covered in dedicated courses (2 semesters)

    Projects
    Numerical analysis and Financial Risk Management Theory course (however, none are taught in this format any longer, at least to the extent of my knowledge), individual projects
    Courses in both C++ and Java involve a series of programming projects, individual projects
    Financial modeling II projects on pricing (again, no longer taught in the same format as the professor left Rutgers), team projects
    Projects in R - probability course, individual projects.

    Career service
    I didn't approach career services, so the rating below is done on feedback from my fellow students

    What do you like about the program?
    For those students who are motivated and know what they need from a financial engineering program and research all their options, Rutgers is an excellent choice: quality of teaching is very good, and many courses, even if they don't cover the subject sufficiently, generally provide a good start for further self-education in the area.

    What DON’T you like about the program?
    Obvious gaps in the program structure coupled with absense of flexibility.
    Also, I regret to see the program sliding from being aimed at graduate degree holders who are switching fields after several years of work experience (this is where it was when I joined 4 years ago) to traditional graduate program for fresh-out-of-college students.
    Suggestions for the program to make it better
    Cannot stress the absense of time series and advanced statistics courses enough. Also, making the program more flexible would be a tremendous advantage.

    What are your current job status? What are you looking for?
    I am employed full-time at a risk methodology department at a major bank. I am not looking for any other position right now, and chances are that I won't be looking for one any time soon if at all.

    Other comments
    This program provides a very good jump-start to becoming a quant, but one definitively needs to spend a lot of time studying on his/her own. If you decide to join this program part-time, research all courses and options well in advance and tailormake your schedule to make sure you don't "get stuck" between the semester schedules (some classes are only offered once a year, and given some pre-requisites are involved, one may easily end up delaying some course for more than a year). Think wise about picking the electives and try to make use of resources available in New Brunswick campus - although it may be problematic for those who work in the city.
  10. Brian D
    Brian D
    3/5,
    Can you tell us a bit about your background?
    B.A. from University of Virginia in Economics
    Minor in Mathematics
    I studied full-time in the program from 9/2009 to 5/2011

    Did you get admitted to other programs?
    No. Didn't apply

    Why did you choose this program (over others, if applicable)?
    Location & Practicality. Preferred to remain in-state to further my studies related to economics and mathematics while obtaining programming and industry relevant experience.

    What alternative sources of info you used to learn more about the program?
    Rutgers webpage provides a valid source of information regarding the program

    Tell us about the application process at this program
    Applied offline and received an acceptance almost immediately.

    Does this program offer refresher courses for incoming students? What do they offer and how much it costs?
    Students are required to participate in summer orientation where Introduction to Finance is taught. Otherwise no refresher courses are necessary.

    Tell us about the courses selection in this program. Any special courses you like?
    The initial semester is a waste and used as a refresher with courses in microeconomics, probability, C++, and Finance. With an extraordinary amount of international students, I assume this is to create common level of understanding for the remainder of the program, but this is essentially a waste allowing the university to "steal" a semester tuition and help create Rutgers' comparatively lengthy 2 year program. Courses in stochastic calculus, operations research, and numerical analysis provide the basis for a mathematical foundation, yet the program fails to deliver on time-series analysis and extensive econometrics. The program does provide sufficient exposure to Matlab, VBA, C++, and R. With only 3 electives available and an administration that disapproves of class substitutions the curriculum is very inflexible.

    Tell us about the quality of teaching
    Extremely Variant. Professors vary from American to International and with experience to those who are solely academics. Professors with industry experience within the U.S. provide the most practical, well taught classes.

    Materials used in the program
    Hull - Options Futures and other derivatives
    Shreve - Stochastic Calculus for Finance
    Cochrane - Asset pricing
    Etheridge - A course in Financial Calculus
    Huang and Litzenberger - Foundation for Financial Economics
    Along with numerous Finance and programming texts

    Programming component of the program
    Matlab, VBA, R, C++, JAVA

    Projects
    Entire courses in both C++ and JAVA (why JAVA?) creates numerous programming projects
    Matlab projects using Fama-French model and CAPM are very useful.
    Limited projects in VBA and R with no introduction to SQL or STATA.
    Obtain sufficient knowledge of Excel.

    Career service
    The career services department mostly neglects quant finance majors with the majority of opportunities and corporate presentations tailored to MBAs. International students will find job opportunities far more scarce, and with the majority of the program's students being international, especially Asian, they will find it far more competitive. However, opportunities are available for internships and full-time positions, but students must look for openings individually.

    What do you like about the program?
    If a student is willing to do the above and beyond, and push for scheduling tailored to their needs, the professors and materials are present to learn both the theoretical and practical aspects of financial engineering.

    What DON’T you like about the program?
    Program administration. Program is resistant to allowing students to pursue the education they came to achieve by allowing nearly zero flexibility and forcing students to learning overly theoretical material, ala microeconomics.
    Also, whether this is the fault of faculty or student body, there is a mentality present to obtain grades anyway possible, regardless of ethics, that can detract from your ability to learn, which is far more important.

    Suggestions for the program to make it better
    More scheduling flexibility, especially for full-time students who continuously encounter scheduling conflicts every semester.
    Scrap the first semester, shorten the program, and focus on the skills and knowledge that needs to be obtained by any financial engineering program.

    What are your current job status? What are you looking for?
    Switching to part-time come spring. Looking for full-time work as soon as semester completes in the fields of either fixed income analysis or risk management.

    Other comments
    The program does provide a sufficient transition from undergraduate studies to preparation for becoming a full-time quant.
    If you participate in this program, research possible courses and plan your schedule immediately. Locate classes at NJIT and in New Brunswick that may further the knowledge you seek to obtain, and this program can easily be completed in 1.5 years if you are able to avoid scheduling conflicts.