Once you get accepted into the MSc in Financial Engineering program or the Applied Data Science module, you will be given the credentials and instructions for logging into the learning platform, where you can access the courses online.
WQU offers a two-year Master of Science (MSc) in Financial Engineering program and a continuing education, two-unit Applied Data Science module. Both offerings are tuition-free and delivered 100% online.
WQU is currently licensed only in the State of Louisiana. Licensure does not constitute accreditation, guarantee the transferability of credit, or signify that programs are certifiable by any professional agency or organization.
WorldQuant University's mission and success depend on students actively engaging and collaborating in our shared, international community. While our students live in more than 90 countries around the world and may not meet each other in person, they are very much connected as they collaborate on group projects and engage in peer reviews and discussions with each other online.
As a not-for-profit, tuition-free online university with students across many different time zones, WQU has limited resources. As such, we are currently unable to take incoming phone calls. Rather, all incoming calls are directed to a voicemail where you will have the opportunity to leave us a voice message. If you would like to leave us a voice message, please call (504) 662-1946 and provide your name and email address so we can get back to you as quickly as possible.
Financial engineering applies mathematical and quantitative methods to financial problems. This multidisciplinary field combines financial theory, mathematics applications, engineering methods, and programming practices.
It is an emerging field, and is increasingly in demand. Financial innovation is driving demand for the rigorous analytic capabilities and training of financial engineers.
Financial engineers pursue professional roles as quantitative researchers, quantitative developers, quantitative traders, algorithmic traders, and portfolio managers for financial institutions. Those who focus on public policy often work for governments developing state and federal financial policies or conducting research at think tanks.
Applicants who are required to submit English proficiency test scores are responsible to cover the fees associated with these tests. WQU accepts the Duolingo English Test, TOEFL, IELTS, and PTE.
Upon acceptance into the program, all students are required to submit official transcripts for their highest previously earned college or university degree. The potential cost of obtaining official transcripts is the only other fee students are expected to cover.
Here's an overview of the admission requirements for the MSc in Financial Engineering program at WQU:
Completed Online Application
Transcripts for highest college/university degree earned (bachelor's degree or equivalent 4-year degree required)
Passing score on Quantitative Proficiency Test
Proof of English proficiency (Duolingo English Test, TOEFL, IELTS, or PTE exam scores)*
*The Duolingo English Test, Test of English as a Foreign Language (TOEFL), the International English Language Testing System (IELTS), or the Pearson Test of English (PTE) is required of applicants whose native language is not English. The only exception is for applicants who have earned a degree at an institution where the language of instruction is English.
WQU accepts new students into the MSc in Financial Engineering program four times a year (quarterly). Students can begin their studies on the closest academic session start date following the acceptance of their application. We recommend completing an application ca. 6 weeks prior to the desired start date. For an overview of our academic calendar, please visit our Program page.
Yes. A bachelor’s degree degree is the minimum academic requirement for admission into the MSc in Financial Engineering program at WQU. If you do not have a bachelor’s degree and are not sure if your credential/degree/certification is considered equivalent to a bachelor’s degree, you can get it evaluated by World Education Services (WES) and provide WQU with your transcripts as well as proof of the evaluation.
Our students are career-driven, computer-savvy quantitative thinkers. They have fully completed a bachelor’s degree and are interested in a future in financial engineering and data science.
Students come from a wide range of countries and have diverse backgrounds. They want to advance their career and seek life-changing education. They are persistent, resilient, and committed to meeting the demands of our rigorous program and to mastering advanced concepts. They understand the value of collaborative work and value sharing knowledge as much as acquiring it.
Students are expected to commit ca. 25 hours per week between lecture videos, assignments, group projects, and individual study. Is the MScFE program a good fit for you? The skills listed below are not required, but can be a good indicator:
Bachelor’s degree in a technical discipline such as physics, mathematics, computer science, engineering, or economics
Unfortunately, HNDs are not considered equivalent to a 4-year bachelor’s degree, which is the minimum academic requirement for admission into the MSc in Financial Engineering program at WQU. If you are not sure if your diploma/degree/certification is considered equivalent to a bachelor’s degree, you can get it evaluated by World Education Services (WES). If WES determines that your qualifications are equivalent to a bachelor’s degree, your application can be considered for acceptance if you provide WQU with proof of the WES evaluation.
Designed to measure your mathematical and statistical proficiency and eligibility for admission to the Master of Science in Financial Engineering (MScFE) program, the Quantitative Proficiency Test is comprised of two sections with 20 questions each and takes about three (3) hours to complete.
The Mathematics section covers differential calculus, integral calculus, matrices and linear algebra, set theory, differential equations, complex numbers, sequences and series, logic and proofs, multivariate calculus, convergence of sequences and functions, and partial differential equations.
The Statistics section covers exploratory data analysis, elementary probability, univariate random variables, bi-variate random variables, generating functions, statistical estimation theory, hypothesis testing and confidence intervals, and simple linear regression.
Before you attempt the test, please consider the following list of highly recommended (and free!) online resources we have curated to help you prepare yourself:
The designated institution code for WorldQuant University is B325. Including this code upon registration allows the organization providing the test to make the results digitally available to our admissions team.
Students take one course at a time, in a designated sequence. Each course is taken over a seven-week period. There is a one-week break between courses, except at the end of the academic year when the break is longer. Each course is organized into week-long modules. The content for each module is released on a Tuesday (Day 1) and ends with a weekly live session on the following Monday (Day 7).
Upon successful completion of a course, you can self-enroll in the next course. If you do not earn a passing grade for a course, you may retake that course. Each course is a prerequisite to the following course. You can see the complete list of courses in order here. For more details on the grading policies, please refer to the Catalog.
The MScFE program is offered quarterly, so there are four start dates per year. Students take one course at a time in a prescribed sequence. New students can begin training at the closest start date following the acceptance of their application. Our current course schedule is shown on our Program page.
WorldQuant University awards semester credit hours. A 4-semester credit hour course requires students to spend approximately 180 hoursengaged in coursework over 7 weeks (ca. 25 h/week). Coursework includes 60 hours of academic engagement (i.e., instructor-led activities such as watching video lectures, participate to interactive discussions via online) and 120 hours of preparation (i.e., completing reading assignments, conducting research, completing projects).
Applicants may be enrolled into the degree program upon submission of unofficial transcripts (scanned copies of your transcript) as long as the transcripts demonstrate the graduation date and the cumulative GPA from the previously completed degree program.
Students are required to submit the official transcript of their highest degree earned before enrolling in the third MScFE course. WQU highly recommends that students request official transcripts from their previously attended institution(s) immediately upon acceptance.
Official transcripts may be sent directly from the previously attended institution(s) to the WQU Admissions Office by postal mail. They must be submitted in sealed envelopes, include the official grading scale of the previously attended institution(s), and be signed by the appropriate university official. The University’s mailing address is:
Failure to provide an official transcript prior to enrolling to the third course in the program will result in immediate suspension from the MScFE degree program. Once the official transcript is received, the student may return to the University and resume their program at the next available course start.
If you have any questions on official transcripts, please do not hesitate to contact us at [email protected]
Students can receive transfer credit for a maximum of 19 semester credit hours in the MSc in Financial Engineering program (49% of the credit hours required to graduate).
If you have previously completed similar graduate-level coursework, you might be eligible for transfer credit. We recommend that you apply for transfer credit before enrolling at WQU. Your request will be evaluated by the Academic Dean and you will be notified of the decision.
For more details on the transfer of credit policy at WQU, please refer to our Catalog.
The transferability of credits earned at WQU is at the discretion of the receiving institution to which students seek to transfer. WQU does not in any way imply or guarantee the transferability of credits to other institutions.
For more details about the University's transfer of credit policy, please refer to the Catalog.
You will need access to a computer and a high-speed internet connection in order to participate in the online courses. For proctored quizzes, you will also need a webcam.
You can access the program contents from any web-enabled computer. There are no necessary plug-ins. You do not have to use the same computer to log into the program every time. We recommend that you have a word-processing program (Microsoft Word is best) and the latest version of Internet Explorer, Google Chrome, Safari, or Firefox.
In order to graduate from WQU, students must have earned a total of 39 credit hours. According to our transfer of credit policy, students can transfer up to 20 credit hours from previously completed coursework. For an overview of this policy and other graduation requirements, please have a look at the WQU Catalog.
As an online institution, WorldQuant University issues digital diplomas and transcripts to students who have met all graduation requirements. Once the graduation requirements have been verified, the student will be notified via email and the diploma will be made available.
The Introduction to Data Science module is a two unit, sixteen-week continuing education offering. To qualify, you must have experience with algebraic concepts such as functions and variables, which are frequently used in programming. Consideration is given to applicants with familiarity in programming fundamentals, basic statistics, linear algebra, and calculus.
No. As a continuing education offering, this module does not require you to have earned any prior degrees - just the algebraic experience necessary to handle the material. In short, you must have experience with algebraic concepts such as functions and variables, which are frequently used in programming. Consideration is given to applicants with familiarity in programming fundamentals, basic statistics, linear algebra, and calculus.
All assignments must be completed within the eight-week duration of each unit of the module. However, students can review the video lectures and complete the assignments at their own pace within those eight weeks.
The core of the module is an interactive learning platform where students access learning materials and complete their assignments. In each unit of the module, two live lectures are delivered each week and are available on YouTube for those who cannot attend. On the discussion board, students are encouraged to ask questions and communicate with fellow participants and instructors. Most frequently asked questions and concerns serve as the basis of of twice weekly virtual office hours, which are also available on YouTube for those who cannot join in real-time or who wish to further review the material covered.
In addition to viewing the lecture videos, students should expect to spend between two and six hours per week completing assignments and engaging in individual study. Average class participation level is expected to be roughly 8 to 10 hours per week.
Be an active participant and organize your time. Prioritize your tasks assignments each week by allocating time slots in your diary or calendar. For work that requires a lot of concentration, schedule multiple short slots in the week to help you avoid cramming and give your brain a chance to absorb and retain the information. Take advantage of the discussion board and communicate with other students and your instructors.
Assignments are automatically evaluated, providing students with instant feedback in the form of a score. While students do not receive a grade for the course, they are required to complete all assignments to earn a certificate, and those who achieve particularly high scores receive a distinction on their certificate.
Upon successful completion of either Unit of the Applied Data Science Module, students receive a digital badge via Credly, the digital credentialing leader. Students who complete either Unit of the Module with a grade average over 90% will receive their badge with honors.
You are welcome to apply for the Introduction to Data Science module. However, keep in mind that this course requires significant time investment in addition to your MScFE studies. Furthermore, the Data Science Module does not award credit.
The Applied Data Science module and the MScFE program are two independent offerings. Admissions for each program are processed separately, and admission or completion of either program does not guarantee admission into the other.
Students may apply for Unit I of the Data Science module. Upon successful completion of Unit I, students earn a certificate and receive an invitation to enroll in Unit II if they choose. Those who successfully complete Unit II earn an additional certificate.
The first unit of the module is a true introduction to data science, focusing on the principles and practices in scientific computing and practical applications of Python. Unit II is a more advanced data science course, focusing on machine learning and statistical analysis. Students may choose to only take the first module, or may select to take the second after successfully completing the first.
Other than that which is incidental, WorldQuant, LLC cannot derive any private benefit from WQU. In accordance with representations made to the US Internal Revenue Service, WorldQuant, LLC cannot hire any WQU students or graduates until at least 12 months after the student left or graduated from WQU.