2022 Quantitative Guide: Rutgers University

Master in Mathematical Finance

The big brother of two featured programs at the university, Rutgers’ Masters in Mathematical Finance course has undergone significant changes since its debut last year. Risk.net Quantitative guide. Paul Feehan was replaced as program director by Triet Pham, a professor of mathematics and mathematical finance specializing in stochastic analysis and path-dependent partial differential equations.

The three-semester course has also doubled in size since last year, with 31 students in the latest cohort, up from 15 in the most recent guide. There are now 13 teachers in the program, up from 10 last year, and the program’s employment rate has climbed to 93%. More and more graduates are also continuing their studies.

Despite this strong growth, average graduate earnings have fallen slightly since the course last appeared, to $80,079 from an average of $87,000 last year. A large share of graduates go on to fintech roles – more than 25% for the most recent cohort of graduates – with asset management and banking roles tied for second place.

Course instructors include: Norman Swanson, who teaches econometrics; mathematics professor Kasper Larsen; and Assistant Professor Kim Weston, specializing in stochastic analysis and mathematical finance.

Master in Financial Statistics and Risk Management

The other Rutgers degree represented in this year’s Quant Guide, the Masters in Financial Statistics and Risk Management program is also the smallest course per admission. Last year, the master admitted 15 students – this year, the promotion had only six, five of them international.

Students should expect plenty of contact time, with 20 instructors on the program, seven of whom are industry-affiliated. The course is led by two co-directors: Cun-Hui Zhang, professor in the Department of Statistics and Biostatistics; and Sijian Wang, associate professor in the statistics department.

Zhang’s specialties include high-dimensional data and probability theory, while Wang’s research focuses on big data analysis, statistical learning, and topics such as proteomics – the study of proteins – and cancer genomics.

Students tackle a range of modules across the three-semester programme. Currently, core courses include courses on: regression analysis in finance; financial statistics and risk management; and probability and statistical inference with financial applications.

The master’s degree reported a slight drop in the average graduate salary, from $83,573 to $71,842. Job streams have also seen some changes, with a slightly higher proportion of graduates entering asset management and fewer into banking and consulting.

See the details of this establishment in the 2021 guide

See other universities and a guide to measurement charts

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