UCLA Anderson's Master of Financial Engineering (MFE) is a 16-month, full-time, STEM-designated program run by the business school on UCLA's Los Angeles campus, with a guaranteed summer experience in the middle, an internship or a project. For fall 2027 entry you apply in one of three rounds, closing November 30, 2026, January 31, 2027 and April 1, 2027, and you'll need a GRE or GMAT score unless you already hold a PhD.
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 UCLA Anderson's official pages, checked October 2026. For the advice that applies to every program, see my guide on how to choose a quant master's program.
UCLA MFE at a glance
| Item | UCLA Anderson MFE |
|---|---|
| Degree | Master of Financial Engineering, STEM-designated |
| School and location | UCLA Anderson School of Management, Los Angeles |
| Length and format | 16 months, full-time and on campus, one cohort |
| Start | Fall 2027 |
| Class size | A target of 60 to 65 students |
| Fall 2027 rounds | November 30, 2026, January 31, 2027 and April 1, 2027 |
| Tests | GRE or GMAT required, no preference between them. Only PhD holders are exempt |
| Program fees | $100,719 for the class that started in fall 2026 |
What UCLA asks for
You need a four-year bachelor's degree or its equivalent, conferred before the program starts. Any major can work, but UCLA's requirements page says every candidate needs evidence of strong quantitative skills. That means linear algebra, multivariable calculus, differential equations, numerical methods, and advanced statistics and probability through hypothesis testing and ordinary least squares. If any of it's thin on your transcript, start with the math you actually need to break into quant finance.
You'll also need some programming in C++, Java or Python, plus a statistical tool such as R or MATLAB. UCLA will consider prerequisites taken on Coursera or other MOOCs, but wants more evidence alongside them, such as a quantitative degree or related work. Work experience is recommended, not required.
Tests and English
UCLA mainly looks at your top GRE or GMAT score, though the committee sees every score you send. Your application is only reviewed in the round when your official scores arrive, so test early enough for them to land in time.
If your native language isn't English, you'll need TOEFL or IELTS scores unless where you studied exempts you. Work experience in English doesn't count. The minimums are 87 on the TOEFL iBT, or 4.5 on the new 1 to 6 scale for tests from January 21, 2026, and 7.0 on the IELTS. Below 100 on the iBT or 7.5 on the IELTS, you'll take UCLA's English placement exam when you arrive, and UCLA cancels admission if you don't pass it.
Letters, essays and interviews
- Two letters, preferably from direct professional or academic supervisors. If you've worked for less than two years, academic letters can replace work ones. Family, friends and coworkers can't write them, and each recommender needs a professional email address.
- The third letter slot. The system asks for three, but the third is optional. UCLA's FAQ tells you to enter mfe.admissions@anderson.ucla.edu there and type 3rd Letter as the name.
- Two essays of up to 750 words each. One describes a project that shows your analytical and creative problem-solving. The other asks why quant finance appeals to you and why it's the right path for you. An optional essay of up to 375 words is allowed, and UCLA warns that essays well under the word count hurt you.
- No statement of purpose. Skip it, along with the writing sample and diversity statement in the general graduate application. The MFE doesn't use them.
- Interviews are by invitation only, after you apply.
Decisions are rolling, with no set release date. Miss the last round and UCLA will consider a late application case by case, but only with the committee's approval before you submit.
What you'll study and do
You earn 72 units, and every course on UCLA's course schedule is taught in Python or R. Your first fall covers investments, financial accounting, econometrics and stochastic calculus. Winter and spring add empirical methods, fixed income, risk management, and financial data analytics and machine learning. Because it's a business school program, you can also take select MBA and PhD electives. Your final fall includes electives such as statistical arbitrage and Advanced Financial Data Analytics and Applications of AI, taught by faculty director Lars Lochstoer and covering neural networks, large language models and AI agents.
UCLA guarantees every student a summer internship, research project or team project for an employer, and tells recruiters that students are available from mid-June to mid-September. Then comes the Applied Finance Project, the capstone, where teams of four spend three to six months on a problem for a company. Past sponsors include PIMCO, Citi, PwC and Research Affiliates.
The work starts before you arrive. UCLA's prep page and calendar show the class that started in 2026 had a required online Python workshop and math bootcamp in July and August, orientation on September 15 to 17 and first classes on September 24. UCLA also recommends a C++ course before you start, because many firms still require it.
Recruiting starts early too. The career team builds an internship resume book before the program begins, so have your resume ready before you arrive. UCLA's career page lists four dedicated career coaches, a required career course, a Quant Fair with more than 20 companies, city treks including New York and Chicago, and alumni mock interviews matched to your career path.
Cost and funding
For the Class of 2027, which started in fall 2026, UCLA's calendar and fees page lists program fees of $100,719, or $113,360.85 with health insurance and student fees. Its cost of attendance estimate, which adds living costs, is $122,854 for the 2026-27 academic year and $40,951 for the final fall quarter. Fees for the fall 2027 class aren't posted yet, and UCLA says they can change each year.
Every completed application is considered for a merit scholarship, with no separate form, and admitted California residents are also eligible for a $10,000 California Resident Fellowship. UCLA expects the nonrefundable enrollment deposit for fall 2027 to be $2,000, credited toward your fees.
Career outcomes
UCLA's program home page reports a 91% employment rate for graduates entering the workforce in 2025. For that group, UCLA's FAQ puts average base salary at $133,980 and average first-year total compensation, with bonus, at $155,484, figures UCLA says are student-reported.
The detailed employment report covers the Class of 2023. UCLA reports 90 students in that class, and 87% of the graduates seeking work received full-time offers. Jobs were 39% in Southern California, 32% on the East Coast and 15% in China and Hong Kong, and employers that year included BlackRock, Goldman Sachs, Morgan Stanley and PIMCO.
How I'd approach UCLA
UCLA's MFE is a good program. Start with the job you want. The second essay asks why quant finance is the right path for you, and you can't answer that well until you know whether you're aiming at research, trading or development, and where you see yourself in two, five and ten years. If you're not sure, read our guide to choosing between quant research, trading and development first.
Decide which coast you want to work on, and read the employment report with that answer in mind. Then take the GRE seriously. The quant section is what matters most, because a high score tells the committee you can handle the math.
Once you're in, treat the Applied Finance Project as real work experience. I put a lot of weight on a project done for an actual company, and it belongs on your resume when you start interviewing. Get to know UCLA MFE alumni at the firms on your list early, too. Don't ask for a referral the first time you talk, because a yes, if it comes, usually comes on the second or third conversation. Our guide on using LinkedIn to get a quant job shows you how to start.
Apply in the earliest round where your whole application is complete, official scores included.
Frequently asked questions
What GRE score do I need for the UCLA MFE?
There's no minimum, but UCLA's FAQ lists expected scores of 168 quant and 158 verbal on the GRE, or 655 on the GMAT Focus Edition, with a GPA of 3.0 or higher, and says those figures change yearly. The class profile on its admissions page shows a median GRE quant score of 169.
Is the UCLA MFE STEM-designated?
Yes. UCLA says it qualifies as a STEM degree, which lets eligible F-1 students extend OPT (Optional Practical Training, the work authorization after graduation) by 24 months, for 36 months in total. Confirm the details with UCLA's Dashew Center for International Students and Scholars.
Can I work during the UCLA MFE?
Only within limits. There's no part-time status, but you can work full-time during the summer internship and, with program approval, up to 20 hours a week in winter, spring and the final fall.
Can I defer my offer or finish early?
No to both. UCLA doesn't grant deferrals, so you accept or decline the offer you get, and you can't accelerate, because each course runs once a year.
Get a second opinion
If you'd like another set of eyes on your UCLA application, from your project essay to which round to target, request a free Discovery Session, a Zoom session with one of our coaches, and we'll work through it together.
Header photo by legge_e_mare, via Wikimedia Commons, licensed CC BY 2.0, cropped and with the UCLA logo added.
