Master of Science in Financial Engineering

Admission Requirements

Prerequisites

  • Bachelor’s degree, or bachelor equivalent, typically in an engineering field, mathematics, physics, computer science, or economics
  • 1 year of Calculus
  • 1 semester of Linear Algebra
  • 1 semester of Probability and Statistics
  • 1 semester of Programming (preferably in C/C++)
  • TOEFL or IELTS for all applicants whose native language is not English (exemptions see here)
  • Knowledge of basic finance is helpful but not required

Additional Requirements

  • The GRE or GMAT is NOT required.  However, applicants may submit GRE/GMAT exam results as a supplement to the application.
  • Minimum grade point average:
    • Undergraduate: 3.25 (A=4.00) for last 60 hours of study
    • Graduate: 3.50 for any previous graduate work completed
  • Applicants whose degree is not from an institution where English is the official language are required to provide one of the following:
    • TOEFL (Test of English as a Foreign Language) score of at least 79 min or 103 for full status admission.
    • IELTS (International English Language Testing System) overall score of at least 6.5 min or 7.5 for full status admission.
    • Duolingo score of 115 for limited status or 135 for full status admission.
  • Full English Proficiency Requirements are listed on The Graduate College website.
  • Exemptions are available for approved countries are as follows:

    • Illinois Graduate Admissions recognizes the following countries as having English as the primary language: Australia, Bahamas, Barbados, Belize, Botswana, Cameroon-Anglophone, Canada(excluding the Quebec Province), Dominica, Fiji, Gambia, Ghana, Granada, Guyana, Ireland, Jamaica, Kenya, Lesotho, Liberia, Malta, Malawi, Mauritius, New Zealand, Nigeria, Papua New Guinea, Philippines, Samoa, Scotland, Sierra Leone, Singapore, South Africa, St. Kitts, Swaziland, Tanzania, Trinidad & Tobago, Uganda, United Kingdom, United States*, Zambia, and Zimbabwe.

      *If your educational or professional work experience has primarily been within Guam, Puerto Rico, or the Northern Mariana Islands, you may be required to take the EPT.