Frequently Asked Questions
General Program Questions
What is the difference between an MFE and other degrees?
MBA: The differences between an MFE and MBA are numerous. Some of the differences are obvious, for example the MFE program is 1 year, while an MBA typically takes 2 years. Many MBA programs can be taken part-time, while our program is full-time only. The MFE is a Master's degree in a specialized type of Finance, and an MBA is a more general, well-rounded business degree. Courses you might expect to take in an MBA program would be in Marketing, HR/Management, Accounting and Finance. In the MFE program, we only cover these topics as they relate to the specific field of Financial Engineering. 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 standard MBA or Engineering programs.
PhD: A PhD can take 5 to 6 years and is recommended for students who want to pursue a career in academics. To some extent, the MFE may be seen as an attractive alternative to a doctoral program in finance for those interested in commercial rather than academic careers.
CFA (Chartered Financial Analyst):
Many people in the Finance Industry get their CFA in addition
to advanced degrees in Finance. The main difference is that
a CFA is an independent certification process, not an academic
distinction. For some jobs it is desirable to have both, but
they are not interchangeable by definition.
