Who Should Apply

The MS-CFRM degree program is ideally suited for:

  • Finance professionals with several years of experience
  • MBA graduates with exceptionally strong quantitative and computational skills and an exceptionally strong academic record
  • Individuals who have completed an undergraduate or Master's degree, with a strong academic record in a science or engineering field. This includes (but is not limited to) applied mathematics, economics, mathematics, physics, statistics, computer science or electrical engineering.

The Certificate programs are best suited for:

  • Professionals that are interested in computational finance but cannot fully invest in the time or effort required in the MS-CFRM degree program. For some individuals the certificates can serve as a stepping stone to the Masters degree with successful completion of the respective certificate and admission to MS-CFRM.

Proficiency Requirements

Competitive applicants to the MS-CFRM degree program will show proficiency in:

  • Calculus through partial differentiation, matrix algebra, and one-dimensional optimization
  • Probability and statistics at the level of an upper level undergraduate course or entry level graduate course
  • A programming language such as Java or C++, or in a math or a statistics programming language such as Matlab, R/S-PLUS

Students lacking proficiency in 1 or 2 of the items above should:

  • Self-study week 2 through 5 of Professor Zivot's CFRM 462 / ECON 424 material.
  • Take CFRM 461, Probability and Statistics for Quantitative Finance

Students lacking proficiency in all 3 items above should take CFRM 463 R-Programming for Quantitative Finance (offered over 3 weeks, starting in early September 2014). Proficiency requirements for the Certificate programs are similar to, but less stringent than those of the MS-CFRM graduate degree program.

 

Graduate Record Examination (GRE)

Applicants with little or no professional experience are required to take the GRE exam. It is strongly recommended that interested applicants take the GRE Exam at least 30 days prior to the application deadline to assure their score is reported on a timely basis. More information on the GRE can be found here. When taking the test, use 4854 (University of Washington) under Score Report Recipients. The Department code is not necessary.

While the GRE is preferred, applicants who wish to substitute a (GMAT) may do so. Use GMAT code 459-75-53.

Individuals who have roughly 5 years of work experience in the finance industry or who have already obtained an advanced degree in a STEM related discipline may petition for a waiver of the GRE requirement by indicating so in the admissions application where prompted. Waiver requests will not be reviewed unless a full application is on file. If you have questions, please contact us. Applicants who have been granted a waiver of the GRE should consider taking one or more refresher courses that are offered prior to the start of autumn quarter.

 

Test of English as a Foreign Language (TOEFL)

Applicants with English as a Second Language (ESL) should refer to the UW Graduate School Memorandum #8 for requirements.

Other Admission Information

The MS-CFRM degree program is ideally suited for:

  • Finance professionals with several years of experience
  • MBA graduates with exceptionally strong quantitative and computational skills and an exceptionally strong academic record
  • Individuals who have completed an undergraduate or Master's degree, with a strong academic record in a science or engineering field. This includes (but is not limited to) applied mathematics, economics, mathematics, physics, statistics, computer science or electrical engineering.

The Certificate programs are best suited for:

  • Professionals that are interested in computational finance but cannot fully invest in the time or effort required in the MS-CFRM degree program. For some individuals the certificates can serve as a stepping stone to the Masters degree with successful completion of the respective certificate and admission to MS-CFRM.

Proficiency Requirements

Competitive applicants to the MS-CFRM degree program will show proficiency in:

  • Calculus through partial differentiation, matrix algebra, and one-dimensional optimization
  • Probability and statistics at the level of an upper level undergraduate course or entry level graduate course
  • A programming language such as Java or C++, or in a math or a statistics programming language such as Matlab, R/S-PLUS

Students lacking proficiency in 1 or 2 of the items above should:

  • Self-study week 2 through 5 of Professor Zivot's CFRM 462 / ECON 424 material.
  • Take CFRM 461, Probability and Statistics for Quantitative Finance

Students lacking proficiency in all 3 items above should take CFRM 463 R-Programming for Quantitative Finance (offered over 3 weeks, starting in early September 2014). Proficiency requirements for the Certificate programs are similar to, but less stringent than those of the MS-CFRM graduate degree program.

 

Graduate Record Examination (GRE)

Applicants with little or no professional experience are required to take the GRE exam. It is strongly recommended that interested applicants take the GRE Exam at least 30 days prior to the application deadline to assure their score is reported on a timely basis. More information on the GRE can be found here. When taking the test, use 4854 (University of Washington) under Score Report Recipients. The Department code is not necessary.

While the GRE is preferred, applicants who wish to substitute a (GMAT) may do so. Use GMAT code 459-75-53.

Individuals who have roughly 5 years of work experience in the finance industry or who have already obtained an advanced degree in a STEM related discipline may petition for a waiver of the GRE requirement by indicating so in the admissions application where prompted. Waiver requests will not be reviewed unless a full application is on file. If you have questions, please contact us. Applicants who have been granted a waiver of the GRE should consider taking one or more refresher courses that are offered prior to the start of autumn quarter.

 

Test of English as a Foreign Language (TOEFL)

Applicants with English as a Second Language (ESL) should refer to the UW Graduate School Memorandum #8 for requirements.

MS-CFRM Degree Program

Deadlines for Autumn 2015 Campus:

Round 1: December 1, 2014

Round 2: February 1, 2015

Round 3: April 1, 2015

All application materials must be submitted by 11:59pm in order to be fully considered for autumn 2015. No extensions to the final deadline will be given.

Deadline for Autumn 2015 Online: May 15, 2015

Certificate Programs

Deadline for Autumn 2014: August 29, 2014

Tuition

Fee rates of $900 per credit are in effect through spring quarter 2015 and are subject to change in summer 2015. The current course fee charges results in costs as follows: 

$37,800* for the 42 credit MS-CFRM degree
$10,800 for the 12 credit Computational Finance Certificate

Other University of Washington service and activity fees are additional and are dependent on the program and courses taken.

*Does not include registration, technology, U-PASS and other University fees assessed each quarter.

 

Enrollment Confirmation Deposit

For applicants that have been made an admissions offer to the MS-CFRM program, there is an Enrollment Confirmation Deposit (ECD) that is required to confirm your place in the program. The deposit will be applied to the first quarter of tuition upon registering for courses (autumn 2014). The deposit is non-refundable if the applicant elects to not enter the program after remitting payment, and extensions to the deadline (refer to form) will not be granted. 

The Enrollment Confirmation Deposit rates are:

  • Campus program: $1,800.00 USD
  • Online program: $250.00 USD

Apply by filling out the online application with the Graduate School.

  • For "Application Type," MS-CFRM applicants should select "Graduate"
  • For "Graduate Program," select "Computational Finance and Risk Management"

As with all University of Washington Graduate Degree programs each applicant must pay a nonrefundable fee of $85 when applying to the MS-CFRM degree program. The application will list all materials required by the department and the Graduate School, and applications can be saved before final submission. After you submit your application and are reviewed by the department, please log back into your application and click on the "status" button to see if any further documents are required to complete the UW admission process. **Please do not send application materials to the Department as we do not accept mailed materials (official transcripts, test scores, etc.) from applicants.**

International students should read 'Information for International Students' for further final admissions requirements.

The application for the online Computational Finance Certificate program, along with additional information from UW PCE, can be found here. Single course enrollment is also available.

Applications for the Certificate program will be accepted through August 29th, 2014. For more information about the Certificate program, please send an email to Eileen Anastasio, 'eanastasio [at] pce.uw.edu'.

There is a $50 nonrefundable Certificate program application fee.

Applying Certificate Courses Toward The MS-CFRM Degree

Students will often take the Computational Finance certificate program with the thought that they may subsequently want to enter the MS-CFRM degree program. Upon successful completion of the certificate with a strong grade point average (GPA) and acceptance into the MS-CFRM program, such students will be able to apply up to 12 of their course credits toward the MS-CFRM degree.

Considering the MS-CFRM degree after a certificate? Then submit an application through the Graduate School for UW Graduate Non-Matriculated (GNM) status when applying for one of the certificate programs.

For more information about GNM status, visit the Graduate School.

For admission, please apply by filling out the online application with the Graduate School here.

  • For "Application Type," GNM applicants should select "Graduate Non-Matriculated"
  • For "Graduate Program," please select "Computational Finance and Risk Management"

Courses in the MS-CFRM degree curriculum may be taken on a single course enrollment (SCE) basis, provided the student has adequate course prerequisite experience. Applicants interested in enrolling in individual courses should submit a Graduate School Graduate Non-Matriculated (GNM) application.

 

 

Non-US citizens are not required to have an F-1 visa to enroll in the online degree if they reside outside of the United States. F-1 visas are not granted to non-U.S. citizens enrolled in online educational programs.

English Proficiency and International Student Final Admission Requirements

Every applicant whose native language is not English must demonstrate English language proficiency in one of the ways listed in Graduate School Memorandum #8.

International Students may be required to provide additional application materials to the Graduate School for final admission. This may include official transcripts, degree statements, proof of English proficiency, and a Statement of Financial Ability. After you submit your application and are approved by the department, please log back into your application and click on the "status" button. This will tell you what specific documents you need to submit to the Graduate School AND provide you access to the Financial Statement of Ability form. Please read the graduate school website regarding financial ability.

The Department of International Student Services (ISS) is a useful resource for international applicants once accepted to the MS-CFRM program.

International Student I-20 and Visa Application

After all requested materials are filed with the Graduate School, international students will be formally accepted and issued an I-20 and subsequent visa application at the U.S. consulate in your home country from the Graduate School. Further details about obtaining an I-20 and F-1 visa will be provided on your application webpage.