Program Overview

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Master of Science in Financial Engineering

The Master's program in Financial Engineering offers a unique combination of finance theory, engineering methods, management tools, mathematical and computational techniques – blended with new developments from the field of artificial intelligence and data science. Financial Engineering introduces these techniques in a practical way, with a focus on hands-on applications implemented in the Python programming language.

Focus Points of Financial Engineering

• Data science
• Machine learning for business and finance innovations
• Data-driven decision making
• Financial and risk management with Python

Key Facts

• Structure: Part-time (but enrolled as a full-time student)
• Duration: 15 months plus time needed for master's thesis (varies)
• Costs: 36,000.00 € (thirty-six thousand Euro) overall
• Language: English
• Degree: Master of Science (M.Sc.) of the Karlsruhe Institute of Technology (KIT), 90 ECTS
• Start: Every year in October (flexible schedule possible)
• Application deadline: There is none. We have a rolling application process.
• Admission requirements: First academic degree (e.g., Bachelor, Master, or Diploma), at least 2 years of professional experience, English language proficiency.

Program Content

The Master's program in Financial Engineering provides innovative solutions for pricing, hedging, trading, and portfolio management problems by employing advanced mathematical methods and computer technology. Graduates will be qualified to consider challenges in the financial sector from an engineer's point of view and to develop and optimize innovative solutions based on fundamental economic laws.

Knowing the Right Answer

After completing the Financial Engineering Master program, you will have answers to vital questions like:

• Should company X manufacture product Y?
• Should company X build a warehouse in Z?
• How does a delay change the value of the project?

Making Better Decisions

Understanding projects strategically helps to make better decisions:

• Learn which decisions need to be taken to leverage the value of the company/product.
• Recognize the strategy behind the project and understand the big picture.
• Know what mergers, acquisitions, and changes mean and how you can influence the consequences.
• Create compelling evaluation systems and key figures to present your project, your department, and yourself in the best light.

Program Structure & Academic Calendar

The concurrently taught Executive Master's program is designed for working professionals. Block lectures scheduled at intervals allow participants to continue their demanding careers while acquiring new skills.

The Master's program is divided into 10 modules: 5 Management modules present broader knowledge in management know-how, and 5 Engineering modules provide deeper knowledge in technological topics.

Content Overview & Learning Targets

The Master's program in Financial Engineering is divided into 5 engineering and 5 management modules of 2 weeks each, over a period of 15 months. The modules are followed by a master thesis written in the company (6 months) and often used as an innovation project for the company. The overall duration is approximately 20 months.

Engineering Modules

• Digital Financial Markets
• Financial Economics for Data Scientists
• Machine Learning for Data-Driven Decision Making
• Engineering Aspects of Financial Markets
• Alternative Data and Machine Learning for Business Applications

Management Modules

• Marketing & Data Science
• Finance & Value
• Decisions & Risk
• Innovation & Projects
• Strategy & People

Economic Sector & Career Perspective

Participants of Financial Engineering

Participants of Financial Engineering strive for a demanding career in a financial company, such as an investment or commercial bank, an exchange, or a rating agency. The techniques are also beneficial for candidates who pursue a career in a non-financial corporate, since the topics covered are well applicable to corporate finance and corporate risk management.

Career Perspectives after Graduation

With the pace of financial innovation, the need for highly qualified people trained in financial engineering also increases. In many areas, the financial industry is currently facing structural changes to its offerings, IT systems, and processes. The operational picture is characterized by a high project volume. Due to the high cost and competitive pressure, employees must be able to think and act in a cost-conscious, networked, and innovative manner. This increasingly requires an interdisciplinary academic education for managers and future managers with modern IT skills, skills in designing industrial processes, up to skills in managing large change programs.

Academic Requirements & Admission Statutes

Academic Requirements

• University degree in a relevant subject
• Professional experience (at least 1-2 years) & current employment
• English proficiency

Admission Statutes

Detailed description of all admission requirements is available.

Program Directors & Faculties

Program Directors

• Prof. Dr. Maxim Ulrich
• Prof. Dr. Martin E. Ruckes

KIT Teaching Quality

The HECTOR School offers top-level teaching derived from state-of-the-art research at the Karlsruhe Institute of Technology (KIT). Numerous institutes and departments of the KIT are involved in the HECTOR School Master's program Financial Engineering.