Baruch MFE Guide for Fall 2027 Applicants

Baruch's MFE is a three-semester evening program in Manhattan with four Fall 2027 rounds and its own QBA test in place of the GRE. Requirements, Pre-MFE seminars, costs and outcomes from Baruch's own pages.

Baruch College's Master of Science in Financial Engineering (MFE) is a 36-credit program in Midtown Manhattan, run by the Mathematics Department in the Weissman School of Arts and Sciences. Full-time students finish in three semesters, Baruch's program page says part-time students take five or six, and all classes start after 6 p.m. For Fall 2027 there are four application rounds, November 1, 2026, December 1, 2026, January 15, 2027 and March 15, 2027, and you can apply in only one. Baruch doesn't use the GRE or GMAT. Every applicant takes the program's own Quantitative Background Assessment instead. For Fall 2026, the program admitted 26 of 561 applicants.

I'm Fiona Taft, founder of QuantMinds, former Executive Director of UC Berkeley's MFE program and former Associate Director at Stanford University. Program details here come from Baruch's official pages, and the comparison figures from Princeton's and Carnegie Mellon's, all checked on October 15, 2026. Quoted advice comes from my recorded webinars on quant master's programs, lightly edited for clarity, and the rest is my own view.

Baruch MFE at a glance

Item	Baruch MFE
Degree	Master of Science in Financial Engineering (MFE)
Run by	Mathematics Department, Weissman School of Arts and Sciences, Baruch College (CUNY)
Location	Midtown Manhattan, at Lexington Avenue and 24th Street
Length	36 credits. Three semesters full-time, five or six part-time. Classes start after 6 p.m.
Start	Fall only
Class size	Fall 2026, 26 admitted from 561 applicants
Fall 2027 rounds	November 1, 2026. December 1, 2026. January 15, 2027. March 15, 2027. Apply in one round only
Tests	No GRE or GMAT. All applicants take the Quantitative Background Assessment (QBA)
Interviews	Two rounds, held online, mostly technical
Tuition and fees	$31,215 for the whole program for New York State residents, $45,090 for out-of-state and international students
Application fee	$75, per Baruch's graduate catalog

Who the Baruch MFE fits

Baruch is one of the programs I'd prioritize. Walking through a list of top U.S. programs in my AMA on MFE programs, I said, "I think from this list, some of the programs that I would prioritize would be Carnegie Mellon, would be Baruch, would be UChicago, would be Princeton."

It also costs far less than Princeton or Carnegie Mellon, and it's extremely competitive. In my webinar Do You REALLY Need a Master's to Land in Quant?, I said, "Is it worth the money or not? Most times, it is, depending on the program. Baruch is a small program. It is a very affordable program, but it is extremely competitive."

The numbers back that up. For Fall 2026, Baruch admitted 26 of 561 applicants. The program says it's committed to admitting every applicant who meets its standard and doesn't fill a quota, and with 26 admitted from 561, that standard is steep in practice.

Baruch fits you best if you want to work in New York, especially at hedge funds, prop trading firms or asset managers. In the three most recent classes on Baruch's employment page, 70% to 75% of placed graduates went to hedge funds, prop trading firms or asset managers, and 76% to 83% took jobs in New York. Because every class starts after 6 p.m., you can also take it part-time while you keep working.

Curriculum

The degree is 36 credits. Baruch's catalog lists these required courses.

Financial Markets and Securities
Numerical Methods for Finance I
Probability and Stochastic Processes for Finance I
Capstone Project and Presentation

The program's own curriculum page also lists Software Engineering for Finance as required, while the catalog lists it as an elective, so check the current list when you enroll. Students with exceptional math or finance skills may be allowed to swap required courses for electives.

Electives come from the Mathematics Department, with up to 6 credits from the Zicklin School of Business. The program's curriculum page lists math electives including Numerical Methods for Finance II, Probability and Stochastic Processes for Finance II, Asset Allocation and Portfolio Management, Market and Credit Risk Management, Volatility Filtering and Estimation, Modeling and Market Making in Foreign Exchange, and Fundamentals of Trading. Programming matters here. One of the program's stated learning goals is high proficiency in C++ and VBA for financial applications.

Internships. The curriculum lists Independent Study, Internship as a 1.5-credit elective. If you're on an F-1 visa, Baruch's international student office says you must register for an internship course to get CPT, the work authorization for internships during your degree. For Summer 2025, Baruch reports internship placement of 23 of 23, with average monthly pay of $16,281 and a median of $15,000.

Before you start. For Fall 2026 entrants, a summer Immersion Program from July 15 to August 25 was required, covering an education component and career preparation. Details for Fall 2027 aren't posted yet. The admissions committee may also require admitted students to take summer refresher seminars in C++, advanced calculus, probability and linear algebra.

Admission requirements

You need a four-year bachelor's degree in any discipline. Baruch requires these prerequisite courses, each passed with a grade of B or better.

Calculus, two semesters
Probability, one semester
Linear algebra, one semester
C++, one semester or a certificate
Finance, one semester or relevant work experience

The MFE application includes a personal essay, transcripts (official ones only after an offer) and three letters of recommendation. Baruch's graduate catalog also lists a resume and a $75 application fee for Weissman School applicants. The MFE site asks for three letters and says none has to come from a professor or an industry professional. Baruch's general graduate catalog says two, so follow the MFE site and confirm with the program if you're unsure.

The personal essay answers three questions. Why are you interested in financial engineering? Why do you want to study in the MFE program at Baruch? What career path do you envision after you graduate?

English. The MFE application page says TOEFL scores aren't required and that your English is assessed in the admission interviews. Baruch's general graduate catalog lists English tests for non-native speakers, so ask the program if you're unsure which applies to you.

How it's evaluated. Baruch reads every application as a complete package. That means your GPA and QBA score, plus your personal essay, recommendation letters, relevant work experience and the strength of your math and C++ background.

The Quantitative Background Assessment (QBA)

Baruch dropped the GRE and GMAT. There's no place on the application for those scores, and Baruch says scores attached separately aren't considered. Instead, every applicant takes the QBA as the first step of the evaluation.

Format. Online, eight questions in 45 minutes. One brainteaser, one finance question, and two questions each in calculus, linear algebra and probability. Not multiple choice, and every answer is an integer.
When. Within one week after each application deadline. Baruch emails you the date, with a 7 to 8 a.m. and a 7 to 8 p.m. New York time slot on the same day.
Rules. As of now, open book, but no internet search and no AI tools, and you sign an honor code.
Scoring. There's no minimum cutoff score.

Baruch says there's no need to prepare specifically for the QBA. I'd still review the QBA topic lists Baruch publishes, which cover things like Hessian matrices, Newton's method, common probability distributions, the central limit theorem, eigenvalues and positive definite matrices. With 45 minutes for eight problems, speed on the basics counts.

Interviews

If your application moves forward, you're invited to two interview rounds, held online, before any offer. They're primarily technical, with math, finance and C++ programming questions. Invitations go out within about three weeks of each round's deadline, and you can't request an interview. Prepare for these the way you would for a quant job interview, out loud and under time pressure.

The Pre-MFE seminars

Baruch runs Pre-MFE seminars that are open to people who aren't enrolled. In my AMA, I said, "A lot of these programs also offer pre-MFE courses that are open to people who aren't necessarily enrolled in the program. You have this at Baruch... those are going to be in linear algebra, they're going to be in statistics, probability."

If you're considering Baruch and your math is rusty, I recommend them. In my webinar Get Competitive NOW for MFE & Master's Programs, I said, "If you're considering Baruch, it is a really good idea to do those courses... And you do have to apply to do those courses. You have to submit an SOP. It's not something that you can just sign up for out of the blue."

Here's what Baruch's Pre-MFE page lists.

Fall 2026 seminars. Advanced Calculus with Financial Engineering Applications (October 20 to December 15, 2026), Probability Theory for Financial Applications (October 19 to December 14), Numerical Linear Algebra for Financial Engineering (October 21 to December 16) and Statistics for Financial Engineering (October 22 to December 17). Each costs $1,650. These start within days of this guide's date and need approval first, so for most readers the Spring seminars are the realistic option.
Format. Live online, 7 to 11 p.m. New York time, so you don't need to be in New York. Each seminar is capped at 40 people.
How to apply. Email the program a current resume, a one-page statement of your career and educational goals and how the seminars fit them, and the seminars you want.
Prerequisites. Passing the advanced calculus, probability or linear algebra seminar meets that prerequisite for the MFE. To enroll, you must already have taken the matching undergraduate course, and on average 58% of enrollees earn the certificate. Baruch's online C++ certificate ($1,450) meets the C++ prerequisite.
Spring 2027. A one-month accelerated advanced calculus seminar in January 2027, and a Machine Learning for Financial Engineering Applications seminar.

The seminars aren't required for admission, but more than 20% of students currently enrolled in the MFE completed them first. Instructors will write recommendation letters about your performance on request, and the admission decision is made by committee members who weren't your instructors. There's also an extra April 1 admission round, only for students taking the Spring Pre-MFE seminars.

If a prerequisite grade is old or weak, the seminars are one option. They award a certificate rather than a letter grade, though Baruch says passing one meets the prerequisite. On weak prerequisite grades in general, in my webinar What You Need to Be Doing NOW to Be Competitive for MFE & Master's Programs, I said, "For some of those more math-heavy courses, it is better to get a letter grade as opposed to a certificate... that's something that I do recommend that you address in your essays, is talking about, these were courses I took in my undergrad, but since that time, I have taken these courses."

Deadlines and timeline for Fall 2027

Round 1. November 1, 2026
Round 2. December 1, 2026
Round 3. January 15, 2027
Round 4. March 15, 2027

You can apply in only one round. If you apply in more than one, Baruch decides only your first application and doesn't refund fees for the others. Complete applications are evaluated at each round date, the QBA follows within a week, interview invitations go out within about three weeks, and offers typically come before the next round's deadline. Baruch says all applications should be complete by March 20, and the same page lists the April 1 round for Spring Pre-MFE students, so confirm timing with the program if that's you.

Pick your round based on when your application will be strongest. In my AMA, I said, "Also, apply early... If you're ready for that first round for some of these programs, like Baruch, November 1st... make sure that you're ready with your materials. If you're not ready, then wait for that next round."

How to make your application stronger

Answer all three of Baruch's essay questions directly. Talking about statements of purpose in general in my webinar on being competitive for MFE programs, I said, "What are your career goals coming out of that?... Why are you passionate about quantitative finance? What are some of those things? Why do you want to go to Baruch?... These are some of the questions that are asked in the statement of purpose, and you really do need to answer all of the questions."

Be specific about your gaps too. In my AMA, I said, "When it comes to the SOP, you want to be as specific as possible, calling out any weaknesses you have, turning those into strengths... I think it's better to shine a light on those things."

Show your C++. Baruch names C++ as a prerequisite, tests it in the interviews and lists C++ proficiency as a program goal. If your C++ is a single course from years ago, the online certificate is a direct way to prove it.

Cost

Baruch's MFE home page lists tuition and fees for the entire program at $31,215 for New York State residents and $45,090 for out-of-state students, including international students. The Bursar's rates, effective Fall 2025, are $5,545 per semester full-time or $470 per credit part-time for New York State residents, and $855 per credit for out-of-state residents and students on temporary visas. The MFE adds a $375 per credit Academic Excellence Fee. These rates don't add up exactly to the home page totals, so confirm the current total with the program. Living in New York is on top of that.

Career outcomes

Baruch publishes employment statistics by graduating class. For the December 2024 to May 2025 graduates, its employment statistics page reports the following.

Placement. 24 graduates. All 23 who were seeking a job were placed, and one already had a job.
First-year guaranteed compensation (base salary, sign-on bonus and guaranteed first-year bonus). Average $225K, median $244K, high $300K+, low $155K. The program's home page shows a higher average and median for the same class ($244K and $255K), so treat these as a range rather than an exact number.
Where they work. 74% at hedge funds, prop trading firms or asset managers and 26% at investment banks. 83% in New York and 17% in Asia.

Baruch's 2023 employment report, covering January 2021 to May 2023 graduates, lists full-time employers including AQR, Bank of America, Barclays, BNP Paribas, Citadel Securities, Goldman Sachs, IMC Trading, JP Morgan, Millennium, Morgan Stanley, Point72, Squarepoint Capital and Virtu Financial.

These reports are what you should study before you apply. In my webinar on being competitive for MFE programs, I said, "You want to understand what your ROI, your return on investment, is going to be for these Master's programs. Where did Baruch place last year? Where did CMU place last year? These are all really important."

Baruch's home page also cites first place in the RiskNet 2026 Quant Finance Master's Guide and the QuantNet 2026 ranking of financial engineering programs.

How Baruch compares with Princeton and Carnegie Mellon

Baruch MFE. 26 admitted of 561 for Fall 2026, three semesters full-time or five to six part-time (all classes start after 6 p.m.), four rounds, the QBA in place of the GRE, and $31,215 or $45,090 for the whole program.
Princeton MFin. About 40 in each class, four semesters full-time, one deadline (December 15, 2026), GRE or GMAT optional, and $65,210 a year in 2026-27 tuition for a two-year program. See my Princeton MFin guide.
Carnegie Mellon MSCF. A Fall 2026 class of 102 across Pittsburgh and New York, 16 months, two rounds, and $71,800 in 2026-27 tuition for fall and spring. See my CMU MSCF guide.

For the wider field, including deadlines for 16 programs, read how to choose a quant master's program.

Frequently asked questions

Does the Baruch MFE require the GRE?

No. Baruch doesn't use the GRE or GMAT, and scores sent separately aren't considered. Every applicant takes the program's Quantitative Background Assessment instead.

What is the Baruch QBA?

It's Baruch's own online test, taken within a week after your application round. It has eight questions in 45 minutes covering calculus, linear algebra, probability, finance and one brainteaser, and every answer is an integer. There's no minimum cutoff score.

How many students does Baruch MFE admit?

For Fall 2026, 26 of 561 applicants were admitted. Baruch says it has no target class size and doesn't fill a quota.

How much does the Baruch MFE cost?

The program's home page lists $31,215 for the whole program for New York State residents and $45,090 for out-of-state and international students.

When are the Baruch MFE deadlines for Fall 2027?

November 1, 2026, December 1, 2026, January 15, 2027 and March 15, 2027. You can apply in only one round.

Can I do the Baruch MFE part-time?

Yes. Part-time students finish in five or six semesters, and all classes start after 6 p.m.

Are the Pre-MFE seminars required?

No. They aren't required for admission, but passing the calculus, probability or linear algebra seminar meets that prerequisite, and more than 20% of current students took them.

Is the Baruch MFE STEM-designated?

Yes. The program's home page says the MFE is a STEM-designated program.

Get a second opinion

If you want a second opinion on your Baruch application or your program list, you can request a free Discovery Session with one of our coaches at quantminds.com/discovery-session-request. You can also watch the replay of my AMA on MFE programs.