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 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.
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.