Financial engineering uses mathematics as an analytical tool to build financial market models and solve financial problems. Students need to master mathematics, statistics, computer science and other technologies, and flexibly apply these knowledge to help solve financial problems. Therefore, this major requires students to have very high logical thinking skills. Students almost must have a background in science and engineering. Some schools even require applicants to complete some professional courses in computer science.Introduction to Financial Engineering Major in the United StatesStudy in the United States, ,Master's Degree Programs in the United States, ,High-paying majors for studying in the United States, ,What major should I study in the United States?The problem.
1. Introduction to Financial Engineering Major in the United States
1. Introduction to Financial Engineering Major in the United States
Finance has always been the representative of "golden collar" in business. Compared with accounting, management, marketing and other majors, finance has obvious advantages in income. However, the threshold of the financial industry is also very high. It is not certain that you can work in related jobs just because you study this major. Therefore, the mainstream choice for studying abroad now is to double major in finance and another major, such as mathematics or computer science, so that it is easier to find a job. Therefore, the major of financial engineering came into being.
Financial engineering uses mathematics as an analytical tool to build financial market models and solve financial problems. Students need to master mathematics, statistics, computer science and other technologies, and flexibly apply this knowledge to help solve financial problems. Therefore, this major has very high requirements on students' logical thinking. Students almost must have a background in science and engineering. Some schools even require applicants to complete some professional courses in computer science.
The major of financial engineering may be called different names in different schools, such as financial mathematics, mathematical finance, computational finance, etc. We can easily distinguish it by just looking at the professional courses included in this major and whether there are mathematics, computer and other courses.
2. Degree Programs for Financial Engineering Students in the United States
The Master of Financial Engineering is usually set up in the School of Engineering/Department of Mathematics/Department of Statistics or the School of Business, and is taught jointly by the School of Engineering, the School of Business, and the Department of Mathematics. Like the MBA, the Master of Financial Engineering is a professional education rather than an academic research education.
3. Employment prospects of studying financial engineering in the United States
The ultimate goal of financial engineering is to train financial engineers, who are mainly employed in investment banks, funds, commercial banks and financial institutions, and are responsible for the establishment and application of derivative pricing models, model verification, model research, program development and risk management. In general, the workload is heavy and brain-burning, but the income is much higher than other industries.
Currently, financial engineering employment in China is mainly in fund companies, securities companies and banks.
In the United States, talents with a master's degree in financial engineering are also in great demand in the market. Basically, all of them are hired by major investment banks, fund management companies, insurance companies, and venture capital companies to work as Financial Analysts, Insurance Underwriters, Claims Adjusters, Appraisers, etc.
2. Application process for studying in the United States
1. Take the exam
The first thing to start is English preparation, because when you go to study in the United States, you need to provide transcripts of qualified language standardized tests. Whether it is IELTS or TOEFL, you need to receive training in advance to familiarize and adapt to the model and content.
The recognition of both types of exams is very high, so you can just choose one type for intensive study. Basically, there are exams scheduled every week, so when you are preparing, you can agree on the exam time in advance to ensure that you can get the test results within the specified time.
2. Confirm your goals
You need to learn about the schools and majors you are applying for in advance, so you need to spend time screening, which is generally not very time-consuming. Because at least one of them will have a clear goal, and then you can conduct a comprehensive assessment based on planning, ability and ranking.
3. Prepare Materials
In the formal material preparation, you need to accumulate and prepare the hardware in advance, so when the time comes, you can directly obtain it. The academic certificate and GPA transcript, as well as the language test certificate, can be obtained directly after the date.
The statements and awards in the document preparation must be prepared according to the requirements, and fully demonstrate your true situation and explain your future study and employment plans. These are relatively complicated contents, and everyone must do them wholeheartedly.
Recommendation letters should also be taken very seriously, especially those written by people who need to be confirmed to be of relatively high status; other materials that prove one's ability, such as award certificates, internship certificates, published articles, etc., will all have a relatively positive effect and can increase the admission rate.
IV. Submit your application
Submit your application early to leave yourself enough time, and you will also get the final review results earlier. You don’t need to worry about missing the time. Because some majors are more popular, the channel will be closed when the number of students is full, so it is better to submit early.
The waiting time for review is about two months. During this period, you can keep in touch with the school to confirm the status of your material review to ensure that it goes smoothly. After receiving a satisfactory offer, you can directly confirm the admission.
3. Contents of the Language Test for Studying in the United States
1. High School
1.SLEP exam
SLEP is the abbreviation of Secondary Level English Proficiency Test, which is an English proficiency test for middle school students (an English proficiency test for junior and senior high school students whose native language is not English). Figuratively speaking, it is the TOEFL for junior and senior high school students.
This language test can not only be used as an English proficiency certification for primary and secondary school students studying in North American high schools, but can also assess the current English level of students and provide authoritative guidance for improving English proficiency or taking the TOEFL test in the future.
2.TOEFL Junior
TOEFL Junior is a low-stakes assessment that measures the English proficiency of secondary school students in academic and social settings in an English-medium instructional environment. The test is a general English proficiency test and does not involve any specialized subject knowledge. This language test consists of three parts: listening, language form and meaning, and reading comprehension.
3.SSAT
The full name of the SSAT exam is Secondary School Admission Test, which is translated as the language test for American high school entrance exams, equivalent to China's high school entrance exam. The SSAT mainly examines students' math, English proficiency and comprehension abilities, and is a stepping stone for foreign high school students to enter private high schools in North America.
2. Undergraduate
1. ACT
ACT (American College Test) is also called the "American College Entrance Examination" like SAT. It is one of the important reference indicators for American colleges and universities to decide on admission and award scholarships.
ACT is also accepted by many American universities, mostly in the Midwest and West. The ACT test consists of four parts: English, Math, Reading, and Science Reasoning. In addition, the essay is optional.
2. SAT
SAT (Scholastic Assessment Test, SAT for short) is known as the "American College Entrance Examination". It is an academic level test language test held by the American Educational Testing Service. It is not only one of the admission requirements of American universities, but also one of the important reference indicators for universities to issue scholarships.
SAT consists of two parts: SATⅠ and SATⅡ. SATⅠ is a reasoning test, and SATⅡ is a subject test. Generally, Chinese high school students only need to take SATⅠ to apply for undergraduate studies in the United States.
SAT is also a language test that American high school students must take to enter American universities. According to the editor of Huide Study Abroad, its importance is equivalent to China's college entrance examination. It is also an important reference for high school students from all over the world who apply to enter undergraduate studies in American universities to determine whether they can be admitted and whether they can receive scholarships.
3. AP Exams
AP is the abbreviation of Advanced Placement, which is a college preparatory course. This exam is suitable for high school students around the world who plan to study for an undergraduate degree in the United States.
Not only can AP scores be used to offset the credits of corresponding courses for students who successfully apply to American universities after admission, but AP scores have also become an important basis for American universities to admit students.
4.TOEFL test
TOEFL (Test of English as a Foreign Language, referred to as TOEFL) is sponsored by the Educational Testing Service (ETS) of the United States. It is a standardized language test specifically used to test the English level and proficiency of students from non-English speaking countries.
5.IELTS test
IELTS (International English Language Testing System, abbreviated as IELTS) is an international English proficiency test jointly organized by the British Council, Cambridge University Local Examinations Syndicate and the Australian International Development Education Agency.
This language test is designed for students from non-English speaking countries who are applying to study or immigrate to English-speaking countries. It is used to assess candidates' ability to use English and is a global international English language testing system.
III. Postgraduate
1. GRE
GRE (Graduate Record Examination, GRE for short) is an entrance exam for graduate students in the United States. It is applicable to graduate students in various disciplines and majors other than law and business. There are two types of GRE language tests: one is the general GRE test (GRE General); the other is the special GRE test (GRE Subject).
Candidates need to take one or both of the exams based on their own conditions and the requirements of the school they are applying to. Most Chinese students only need to take the regular GRE exam. Candidates applying for graduate studies in law or business can use LSAT or GMAT instead of the GRE regular exam.
2. LSAT
LSAT (Law School Admission Test, LSAT for short) is an entrance qualification exam set by the Law School Admissions Committee of the United States. As one of the reference conditions for applying for admission to American law schools, LSAT scores will be used to estimate the correct and reasonable inference and judgment ability, analysis and evaluation ability of applicants in law schools, and there is no restriction on eligibility for application.
3.GMAT
GMAT (Graduate Management Admission Test, GMAT for short) is a standardized test that is currently widely used as an entrance exam for Master of Business Administration.
Summary of the Financial Engineering Major in the United States
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