Program Overview

MFE Master Project in Industry

The Master project in industry is a 6-month research-oriented project done within the frame of an internship in a company in the financial industry during the last semester of the MFE program. This provides students the opportunity to put into practice the academic knowledge acquired during their studies at EPFL, gain some professional experience, and familiarize themselves with company processes.

Duration | Dates | Location

• Duration: The Master project in industry should last 6 months.
• Session dates: Spring session (from the end of February) / Fall session (from the end of July).
• Requirements: The Master project in ‘Financial Engineering’ takes place during the last semester of the Master program (usually after the three semesters of coursework).
• Location: The Master Project in industry must be carried out in a non-academic organization (company, public organization), in Switzerland or abroad.

Project Definition & Supervision

As an integral part of their studies, MFE students must spend a period of 25 weeks as interns in the financial industry in Switzerland or abroad. During this time, students learn to put in practice the skills acquired in their coursework and write a Master Thesis under the joint supervision of an EPFL faculty member and a mentor from the host institutions.

• The topic of the Master’s thesis may be proposed either by the company, by the student, or by the academic supervisor.
• The topic must be clearly defined by the student, the academic supervisor, and the company supervisor. All 3 parties must agree on the project outlines (formalized in a document).
• The topic of the MFE master project has to be related to finance.
• The student is required to identify the research topic to be addressed and propose a methodology and plan deliverables. It must include a research or innovation component and refer to theory.
• It is supervised by a company supervisor and an academic supervisor.

Validation of the Master Project

The student must submit a written Master thesis at the end of the project and conduct an oral defense in front of a jury (both supervisors).

• The successful oral defense of the thesis leads to the completion of the Master in Financial Engineering.

How to Find a Master Project

• Students can apply through different channels (e.g., internship portals, job boards, LinkedIn). Information and resources are provided by their Internship coordinator.
• Employers can post offers on the EPFL internship portal.
• Visit the EPFL Forum in October, the largest recruitment fair in Europe.

Previous MFE Master Projects

The internship and associated master thesis focus on various aspects of finance and financial engineering, including:

• Credit-risk
• Derivatives pricing and hedging
• Portfolio and asset management
• Private equity
• Commodities trading
• Financial market organization and regulation
• Corporate finance
• Examples of Master projects from 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, and 2015 are provided, showcasing a wide range of topics and host institutions.

Example of Host Institutions

The MFE has established a strong reputation in the financial industry and has an excellent track record in developing internship placements and career opportunities for graduates.

• The institutions hosting MFE internships include banks and insurance companies, asset management firms and hedge funds, commodities trading firms, and various other institutions.
• A list of host institutions is provided, including:
  • Banks & Insurance companies
    • AXA Winterthur
    • Banca Comerciala Romana
    • Banque Internationale Arabe de Tunisie
    • Banque Martin Maurel Sella
    • Banque privée Edmond de Rothschild
    • Banque Rothschild
    • Banque Syz
    • BCV
    • Benjamin de Rothschild SA
    • BNP Paribas
    • BTG Pactual
    • Credit Suisse
    • Deutsche Bank
    • Goldman Sachs
    • Helvea
    • HSBC
    • JPMorgan
    • Julius Baer
    • La Mobilière
    • Lazard Frères
    • Lombard Odier
    • Pictet Alternative Advisors
    • Société Générale
    • Swiss Life
    • Swiss Life Asset Managers
    • Swissquote Bank
    • SwissRe
    • UBS
    • Union Bancaire Privé
    • ZKB
  • Asset management firms & Hedge funds
    • 4Elements
    • Aeris Capital AG
    • AXA Investment Managers
    • BlueCrest Capital Management
    • Brevan Howard
    • Cobe Investment Management
    • Chorus Capital
    • Century Securities
    • Dominice & Co
    • DTC Investment Management
    • Egerton Capital
    • Exane Derivatives
    • Fisch Asset Management
    • Global View Investments
    • Harris Lane Investments
    • Jabre Capital
    • Kepler Cheuvreux
    • LGT Capital Management
    • Lyxor Asset management
    • Nafora
    • Novus
    • Olsen
    • Orient Security Company
    • Patrimonium
    • Prestinvest
    • Ping An Asset Management
    • Quantifusion Asset Management
    • Rothschild HDF Investment Solutions
    • Swiss Capital Alternative Investments
    • Transmarket Group
    • Tudor Capital Europe
    • Unigestion
  • Commodities & trading firms
    • AXPO
    • Hellenic Petroleum SA
    • Mercuria Energy Trading
    • Roquette Frères
    • TOTSA
    • Trafigura
  • Other institutions
    • Basel Economics
    • BIT (International Labour Office)
    • DataYes
    • Derivative Partners Research
    • eBay International
    • Ernst & Young
    • FIDA
    • FinLab
    • Hesabi
    • Mazars
    • Murex
    • Nathal
    • NLMK
    • Ontonix
    • Philip Morris SA
    • Procter & Gamble
    • SAGE SA
    • Sanli
    • Symbiotics SA
    • SwissQuant Group AG
    • Umnyah Advisors
    • United Nations

Student Testimonial

During the internship, I always have the chance to discuss the thesis with my professor and company mentor, which is very unique among all the MFE programs around the world.

Danyu Wang, MFE Alumnus 2021

Internship Supervisor Testimonial

I am very impressed with the superb preparation the MFE program does, not only on the hard subject-matter skills, but also on the soft skills that matter a lot in a corporate context.

Internship supervisor, Mercuria