GENERAL PROGRAM QUESTIONS
How does the NTU MFE Program distinguish itself from other similar programs?
The NTU MFE Program is offered under the auspices of a business school with the combined expertise the School of Electrical and Electronic Engineering and the School of Computer Engineering in NTU. As a result, NTU MFE students learn about financial engineering within the context of business and economic principles, benefit from the expertise of faculty from the Engineering schools, and enjoy the additional advantages of the business school's career services, corporate contacts, and orientation towards business applications.
The NTU MFE program also includes a 7-week term at Carnegie Mellon University, USA, bringing financial practices in the east and west live to the classrooms. Upon successful completion of the 7-week term, students will be awarded a Certificate in Computational Finance from CMU
What is the difference between an MFE and other degrees?
MBA: There are many differences between an MFE and MBA. Some of the differences are obvious, for example the MFE programme can be completed in 1 year (full-time study), while an MBA typically takes 2 years. The MFE is a graduate degree in a highly specialized type of Finance, and an MBA is a more general, well-rounded business degree, offering courses in areas such as Marketing, HR/Management, Strategy, Accounting and Finance. Most MBA programs do not require the high-level of math, analytic ability, or computer programming experience required by the MFE program. The combination of skills obtained by MFE graduates (understanding of complex financial strategies, financial modeling ability and computational proficiency) are difficult for employers to find in graduates of general MBA or Engineering programs.
Other MSc Finance related programs such as Applied Finance, Wealth Management etc.: Like the MBA program, these programs do not offer the combination of skills obtained by MFE graduates. These programs have less emphasis on math and programming skills and do not offer a combination of finance, mathematics and computing.
CFA (Chartered Financial Analyst): The main difference is that a CFA is an independent certification process, not an academic distinction. Also, unlike the MFE program, the CFA has little emphasis on math and programming skills to solve financial problems. Many people in the Finance Industry get their CFA in addition to advanced degrees in Finance. For some jobs it is desirable to have both, but they are not interchangeable by definition.
ADMISSIONS
What type of students do you look for?
The MFE programme looks for candidates with a background in applied mathematics, applied science, statistics, computer science, engineering, economics, or other similar quantitative fields. Applicants from other disciplines with strong academic performance may also be considered. We are looking for individuals for whom the programme is a good "career-fit", and who are likely to have successful future careers. Above all, candidates will need to demonstrate that they have the commitment, experience, motivation and potential to benefit from, and contribute to, the programme.
Am I eligible for the programme? What are the admission requirements?
Individuals who hold a good undergraduate degree can apply for admission to the programme. GRE or GMAT is a compulsory requirement for admission to this programme. Work experience is preferred but not mandatory. Please click here for details on admission requirements
Do you require an undergraduate degree in finance or business?
Though there is no specific degree requirement, most students will have undergraduate or graduate degrees in applied science, statistics, mathematics, engineering, computer science or other similar quantitative fields. Applicants from other disciplines will also be considered. The common requirement for all students in the program is that they enter it with a high level of intellectual curiosity and a strong interest in finance.
How much math will I need?
The MFE programme is highly quantitative. While the math background of our students varies, most have taken engineering-level math courses beyond Calculus such as Differential Equations and Linear Algebra. If you have not done much math during your undergraduate study, you should be able to demonstrate your mathematical ability through other ways such as GMAT/GRE, good GCE ‘A’ Level (or high school equivalent) math, or work experience.
Is GMAT or GRE required?
GMAT or GRE is required and a good GMAT or GRE score would enhance your application. The GMAT or GRE score provides us with another platform to evaluate your application especially if academic results, work experience, etc are not comparable with other applicants. Please note that a low GMAT or GRE score will not exclude your application from being considered. There is no minimum cut-off score for GMAT or GRE. Either the GMAT or GRE is accepted. Original copies of the test scores are required.
Can I be exempt from taking GMAT/GRE?
No, every applicant is required to take GMAT/GRE, regardless of their academic background, prior qualifications or work experience. We receive many international applications, so it is very helpful to have one measure on which we can compare all candidates in the applicant pool.
Do I have to submit GMAT/GRE test scores even if I hold a PhD?
If you hold a PhD in a related discipline and are able to submit a photocopy of the GMAT/GRE that was part of your original PhD application, you may then request a waiver of the GMAT/GRE test requirement. Such requests will be considered on a case-by-case basis by the Admissions Committee.
Can I apply before I have taken GMAT/GRE?
If the rest of your application is completed, you can send it to us, even if you have not taken the GMAT/GRE. However we will not process your application without your GMAT/GRE score. You should fax us your unofficial scores as soon as you receive them and arrange with the test centre for the official score report to be send to us.
I do not have any work experience, can I apply for the programme?
Yes, you may. Although work experience is preferred, it is not a mandatory requirement.
Do I need to take TOEFL?
TOEFL is required if the medium of instruction during your undergraduate studies was not in English. IELTS may be accepted in place of TOEFL.
I am a foreigner. Am I eligible to apply?
Yes, this programme is open to international students. The University will assist you in obtaining your student visas and accommodation needs when you have confirmed acceptance to the programme.
Are all applicants invited for interview?
Only those who are successful after the initial short listing process are invited for an interview.
How many people do you admit each year?
The programme offers approximately 35-40 vacancies each year.
If I apply and am accepted this year, can I defer acceptance to next year?
No, you will have to re-apply for the next academic year.
Can I apply to enter the programme in January? When is the next intake?
Due to the structure of the program, there is no intake for the programme in January. The official intake for the programme is in July every year. Application will open in November and close at the end of February. Please visit our application page for updates.
Why was I not accepted into the MFE program?
Time constraints do not allow us to personally respond to individuals seeking an explanation for why he or she was turned down for admission into the MFE programme. We receive many more applications for admission than we have ability to offer admission to. If you are not granted admission into the program it simply means your application was not as strong as others for a very limited number of vacancies.
FEES & FINANCIAL AID
What is the fee structure?
Please click here for more information on Fees
Are there financial assistance available?
There are very limited scholarships available. Please visit the website for detailed information.
The majority of our full-time students have taken the Tuition Fee Loan. This is available to local and foreign students. Please click here for more information on Financial Aid & Scholarship.
Can CPF be used to pay tuition fees?
No, the CPF Board does not allow CPF to be used for graduate programs.
PROGRAM STRUCTURE
What is the period of candidature for this programme? What is the program structure?
Please click here for more information on Period of Candidature
What is the academic calendar?
Please click here for the academic calendar.
Can I apply for exemptions?
Exemptions are considered on a case-by-case basis. Students may apply for exemption of up to a maximum of 3 subjects. Application for exemptions will open once you are enrolled.
What are the course attendance requirements and workload?
You are expected to attend all the lectures and classes scheduled for each of the core and elective courses. You will need to set aside considerable amount of time for preparation, reading, group work, project work, private study, completion of assignments and revision for exams. The pace at which individuals work will obviously vary, but as a general rule of thumb, students will need to put in two to three hours of work outside of the classroom for every hour spent in the formal sessions.
What preparations do I need to make for the final term at Carnegie-Mellon University?
You will have to set aside about S$6,500-S$8,000 for travelling, accommodation and living expenses. We will assist you in visa application, travel and accommodation arrangements. Part-time students are required to have their employers' consent to undertake the final term of 7 weeks at Carnegie-Mellon University before confirming acceptance into the programme. Please indicate on the application form should there be any difficulties in getting your employer's consent.
CAREERS
Which careers would the MFE feed into?
Graduates from the MFE program work primarily in the financial services industry. Careers vary but usually revolve around risk management, quantitative asset management, product structuring, quantitative trading, quantitative research, financial information technology as well as other areas in high-technology finance. Employers include investment banks, commercial banks, financial consultants, financial and database software suppliers, financial regulators, treasury & finance departments of MNCs, exchanges and energy companies.
Please click to view a sample list of employers of our graduates and a sample of positions accepted by our graduates. Please note that these lists are not exhaustive.
How successful are MFE students in finding employment after graduation?
The NTU MFE programme is well-known and has a good reputation in the industry. Our graduates have made a significant impact in the financial industries locally and internationally. Based on recent year’s records, 100% of our graduates are placed within 3 months of graduation. Approximately 40%-60% are placed before graduation.
The Nanyang Business School's Career Services office is set up to assist both students and recruiters/employers in their career and talent search. Career development services are offered to our graduates to facilitate job opportunities and prepare students for employment. Workshops, seminars and career seminars are hosted regularly, where employers and employees are matched. Students are also expected to be actively involved in the job search process. |
