MS Financial Economics

The Master of Science in Financial Economics (MSFE) at Columbia Business School is a prestigious, STEM-designated program tailored for students aiming to pursue quantitative finance careers or academic research at the intersection of economics, finance, and data science. The program is deeply analytical, grounded in both financial theory and empirical methods, and designed for exceptional students with strong quantitative backgrounds and career ambitions in investment banking, asset management, hedge funds, economic consulting, and PhD-level research.

Distinctively, the MSFE is housed within Columbia Business School, with academic and research integration across finance and economics departments.

Program Format & Duration

• Full-time program

• Duration: Two years (4 semesters)

• Location: Columbia Business School, Manhattanville campus, New York City

• STEM-designated (international students eligible for up to 3 years OPT)

• Intake: Fall only

• Highly selective (limited seats per cohort)

Core Curriculum Components

The MSFE curriculum combines theoretical finance, econometric techniques, and practical applications. It emphasizes quantitative modeling, data analysis, and academic rigor, making it suitable for careers in research, policy, and finance.

Core Courses

1. Finance and Economics Foundation

   • Financial Economics

   • Asset Pricing Theory

   • Corporate Finance

   • Macroeconomics and Market Institutions

2. Statistical and Quantitative Tools

   • Econometrics and Time Series Analysis

   • Empirical Methods in Finance

   • Advanced Statistics for Finance

   • Programming for Financial Applications (e.g., Python, MATLAB, R)

3. Research Training

   • Research Seminar in Finance and Economics

   • Independent Research or MSFE Thesis

   • Preparation for research-based roles and PhD applications

4. Electives

   • Machine Learning in Finance

   • Risk Management and Derivatives

   • Behavioral Finance

   • International Financial Markets

   • Advanced Topics in Empirical Asset Pricing

Graduates of the Columbia MSFE program are exceptionally well-prepared for both professional and academic pathways requiring deep financial and economic insight, advanced data skills, and strong theoretical grounding.

Career Outcomes

Typical roles include:

• Quantitative Analyst

• Research Analyst (buy-side or sell-side)

• Investment Strategist

• Risk Analyst or Portfolio Manager

• Economic Consultant

• Policy Analyst (IMF, World Bank, Central Banks)

Top Employers

MSFE graduates are recruited by:

• Goldman Sachs, Morgan Stanley, JPMorgan

• BlackRock, Citadel, Two Sigma

• McKinsey, Oliver Wyman (Financial Advisory)

• International Monetary Fund, World Bank

• PhD programs at top global institutions (e.g., Columbia, NYU, MIT, LSE)

Further Education

Many graduates use this program as a stepping stone for:

• PhD in Finance or Economics

• Academic or central banking research careers

• Doctoral research in econometrics, behavioral finance, or macroeconomic modeling

Placement & Employment Overview

• Placement Rate: 94% of job-seeking students secured employment within 3 months of graduating (Class of 2022)

• Job Offers: 100% of students seeking employment received at least one offer

• Career Focus: Strong placement in quantitative finance, trading, and risk roles

Compensation & Bonuses

• Average Annual Base Salary (U.S.): $132,860

• Salary Range: $70,000 – $320,000

• Average Signing Bonus: $37,000

• High total compensation reflects the demand for quant finance skills in elite firms

Top Employers & Industry Sectors

Graduates are hired by prestigious firms across financial and tech domains:

• Asset Management (38%):
  Balyasny, Brevan Howard, Millennium, RBC, SquarePoint, WorldQuant

• Investment Banking (21%):
  Goldman Sachs, JP Morgan, Morgan Stanley, Citi, Deutsche Bank, BNY Mellon

• Financial Services & Risk (18%):
  BlackRock, UBS, Bank of America, Bridgewater, Moody’s

• Consulting & Professional Services (12%):
  CME Group, MathWorks, PwC, Huatai Securities

• Technology & Trading (11%):
  Amazon, Microsoft, Optiver, Walmart

Industry Allocation

• Asset Management: 38%

• Investment Banking: 21%

• Financial Services & Risk: 18%

• Consulting & Professional Services: 12%

• Technology & Trading: 11%

Geographic & Career Trends

• Graduates primarily work in major financial hubs like New York City and global finance centers

• Career growth typically progresses from:
  Analyst / Quantitative Strategist → Senior Quant / Trader → Manager / Lead Quant

Career Summary Table

What This Means for You

• Exceptional ROI: Columbia’s MSFE offers strong returns in the form of top-tier salaries and rapid placement

• Elite Employer Access: Direct pipeline to leading firms in asset management, investment banking, and tech-driven trading

• Career Mobility: Graduates launch into high-responsibility roles with long-term growth in strategy, analytics, and leadership

• Quantitative Edge: The program is a proven launchpad for roles at the intersection of data, markets, and technology