Stevens Institute of Technology's Master of Science in Financial Engineering is a 30-credit degree from the School of Business in Hoboken, New Jersey, across the river from New York City, offered on campus or fully online. For Fall 2027 entry, I read Stevens's preferred full-time deadline as April 15, 2027, since its page gives no year, applications are reviewed on a rolling basis after that, and GRE or GMAT scores are optional.
I'm Fiona Taft, founder and CEO of QuantMinds, former Executive Director of UC Berkeley's MFE program and former Associate Director at Stanford University. Program details come from Stevens's official pages, checked November 2026. For the advice that applies to every program, see my guide on how to choose a quant master's program.
Stevens MS in Financial Engineering at a glance
| Detail | Stevens MS in Financial Engineering |
|---|---|
| Degree | Master of Science, School of Business |
| Size of the degree | 30 credits, with six required courses and four electives |
| Format | On campus or fully online, full-time or part-time |
| Location | Hoboken, New Jersey |
| Fall 2027 deadline | April 15 for full-time and August 15 for part-time, both preferred and rolling |
| Tests | GRE or GMAT optional |
| Letters | Two |
| Application fee | $60 |
| Tuition and fees, 2026-27 | $47,826 for a full-time year, per Stevens's cost of attendance page |
Stevens's pages don't publish a class size or an acceptance rate for this program, so I'm not going to give you either. If a number matters to your list, ask the admissions office directly.
What kind of program this is
Stevens says the degree originated in its mathematics department and that its program page refers to a relocation in 2018. The program describes its focus as stochastic modeling, optimization and simulation applied to securities valuation, risk management, portfolio structuring and regulation. Stevens also says the School of Business home gives it a practical orientation.
The program's own list of other names it is known by include MSFE, quantitative finance, computational finance and mathematical finance. If you're sorting out what these names mean and which one fits the job you want, start with which quant path is actually right for you.
Curriculum and concentrations
You take six core courses at three credits each.
- FE 610 Stochastic Calculus for Financial Engineers
- FE 620 Pricing and Hedging
- FE 621 Computational Methods in Finance
- FE 630 Portfolio Theory and Applications
- FE 680 Advanced Derivatives
- FE 800 Project in Financial Engineering
Then you add four electives for 12 credits, which your advisor has to approve. You can use them to earn a graduate certificate alongside the degree, or choose from the program's concentrations.
- Algorithmic Trading Strategies, including market microstructure and trading strategies.
- Financial Analytics, with statistical learning, financial data science and databases.
- Financial Risk Engineering, including enterprise risk and systemic risk and regulation.
- Financial Statistics, with applied statistics, time series and statistical learning.
- Financial Computing, including C++ programming in finance and Bloomberg and Thomson Reuters.
The project course, FE 800, can be a research project or one suggested by an industry manager tied to your internship.
Stevens lists the program as STEM-designated.
What Stevens asks for
Start with the prerequisites, because Stevens expects them before you begin. You need completed coursework in calculus and differential equations, probability and statistics, linear algebra, and programming in Java, C++, R or Python. Stevens offers noncredit courses for students who need to fill a gap. If you're unsure whether your math is ready, here's the math you actually need to break into quant finance, and on the programming side, Python for quant roles.
What you submit
- The online application and a $60 non-refundable application fee
- Transcripts from every post-secondary school you've attended, with official copies required before the first day of classes
- Two letters of recommendation, from people who know you academically or professionally, never personal references
- A resume, which School of Business master's applicants must include
- A Statement of Purpose of 500 to 1,000 words in 12-point Times New Roman, explaining why you chose this program
- GRE or GMAT scores, only if you choose to send them
- Proof of English proficiency, if you don't qualify for an exemption
The program's own page says the strongest applications include one letter from a current supervisor and one from a former supervisor or employer. Stevens's general requirements page says only that letters come from people who know you academically or professionally. If you're counting on academic letters, check with graduate admissions first.
Stevens says all submitted GRE and GMAT scores are considered in review and scholarship decisions. Stevens often invites master's candidates to interview before deciding.
English proficiency
You're exempt if English is your native language or if you hold, or will hold, a bachelor's or master's degree from an accredited US school. A bachelor's degree from the United Kingdom, Canada, Australia or New Zealand can earn an outright waiver for international applicants. Degrees from other schools that teach in English can earn a waiver of the test, but you then take Stevens's English Communication Proficiency Exam when you arrive. Otherwise Stevens says you may need proof of English proficiency, such as TOEFL, IELTS or Duolingo scores, so read its English policy for your case.
Fall 2027 timeline
- November 1, 2026 (my reading, Stevens gives no year). Preferred deadline for full-time Spring 2027 entry. It has passed, but Stevens says it admits on a rolling basis, so a late application can still be considered.
- April 15, 2027 (my reading, Stevens gives no year). Preferred full-time deadline for Fall 2027. Applying by the preferred date gets you consideration for merit scholarships, if you're eligible.
- August 15, 2027 (my reading). Preferred part-time deadline for Fall 2027.
Stevens strongly encourages students who need an F-1 visa to apply by the preferred deadlines, to leave time for visa processing. Stevens's pages don't give calendar years on these dates, so I'm reading them against the next fall start. Confirm them on the deadlines page before you plan around them.
Cost
For 2026-27, Stevens lists full-time graduate tuition at $22,995 a semester for 9 to 12 credits, plus mandatory fees. Its cost of attendance page puts tuition and fees for a full-time year at $47,826, and total cost of attendance at $71,176 for a student living off campus and $52,852 for a student commuting. Part-time and extra credits are billed at $2,152 a credit. Stevens says new incoming graduate students can't live on campus because of limited space, and its listed health insurance fee is separate and can be waived with proof of comparable coverage.
These are 2026-27 rates. Stevens sets new rates each year, so check its tuition and fees page before you budget for 2027.
Outcomes
Stevens publishes two figures for the Class of 2025 in Financial Engineering. It reports 92% employed six months after graduation, and an average salary of $116,383. Stevens doesn't say on the page how many graduates those figures cover or how it defines employed, so treat them as the program's own summary. The program also lists employers that hire its graduates, including Bank of America, Citadel, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and UBS.
Read any outcome figure against the job you want. Stevens lists roles such as quant risk analyst, quant developer, derivative analyst and algorithmic trading modeler, and those paths differ a lot in what they ask of you. Our guide to quant interview questions is a good place to see what firms test.
Planning your application
Pick the role first, then check that the curriculum matches it. A trading-heavy goal points at the algorithmic trading and computing courses. A risk goal points at the risk engineering electives. Your Statement of Purpose is where you say this, and Stevens asks it to explain why you chose this particular program, so name courses and a concentration.
Make your math easy to see. The prerequisites are specific, so list the exact courses, with grades, that cover each one, and say plainly what you'll finish before you start. Apply when your file is complete. A rolling process doesn't reward a rushed, half-built application.
If you're an international student, get your visa timeline straight early, and confirm the format and work authorization details with Stevens's international office.
Frequently asked questions
Is the GRE required for Stevens financial engineering?
No. Stevens doesn't require GRE or GMAT scores for master's programs, though it considers any you send.
Should I expect an interview for the Stevens MS in Financial Engineering?
Possibly. Stevens says it often invites master's candidates to interview before deciding, and that you'll get instructions by email if you're chosen.
Do I need a programming background to apply?
Stevens lists a programming course in Java, C++, R or Python among the prerequisites. It offers noncredit courses for students who need to satisfy them.
Can I work while studying?
Stevens's page says the program offers part-time flexibility so professionals can balance work, study and internships.
Get a second opinion
If you'd like another set of eyes on whether Stevens belongs on your list, or on how your math and programming read, request a free Discovery Session, a Zoom session with one of our coaches, and we'll work through it together.
Sources
- Stevens, Master's in Financial Engineering
- Stevens, Graduate Application Deadlines
- Stevens, Graduate Application Requirements and Checklist
- Stevens, Test Score Exemptions and Waivers
- Stevens, Graduate Cost of Attendance and Funding
- Stevens, Tuition and Fees
Header photo by ajay_suresh, via Wikimedia Commons, licensed CC BY 4.0, cropped and with the Stevens Institute of Technology logo added.
.jpg){kind=link}