Latest reviews

The MFI program's name is slightly misleading: The 'insurance' in the title would maybe lead you to believe that it's an actuarial science program, but in reality the coursework is more suited to a financial engineering / quantitative finance degree (Actuarial science is only 1 course in the entire year).

The coursework is difficult. The more theoretical courses (Like mathematical finance, machine learning, etc) have a thorough amount of theoretical depth for the class content, while focusing on the application of theoretical concepts for assignments.

The professors are some of the best you'll ever be taught by: They are leading authorities in their respective fields and don't only have experience in academia, but in the industry as well. If you're struggling with coursework, the professors are more than willing to take time out of their day to assist you, which great helped my time in the program.

The career services are not a 'get a free job' pass. They give you the tools and set up as many interviews for you with their contacts as possible. You still very much have to look for your own opportunities and grind internship applications, but the internship coordinators will be more than willing to help.

Employability after the program is mostly what you make of it. Most people get jobs in banking, portfolio management, risk or data science. Even though the degree helps a ton with employment, you still need to make an effort in networking, applying and learning additional skills.

The students admitted into the program are generally intelligent and hardworking. Most of them are nice, and a lot of them will most likely be lifelong industry connections.

Overall, my personal experience with this program was fantastic.

Admission Process:
1. Admissions process was very simple and easy.
2. I applied in Round 2 and leveraged my certificates in the Baruch Pre-MFE program to supplement my lackluster grades from undergrad.
3. Admission teams valued these certificates which landed me acceptance into the program.

Courses:
1. Mathematics/Stochastic Calculus - 10/10. If you want to get into sell-side pricing of exotics using analytic methods, fourier transforms, monte carlo simulations, CMU will give you an amazing foundation to start from.

2. Statistics/Data Science - 10/10. The coursework puts a heavy emphasis in Python data science packages like seaborn, scikit-learn, statsmodels, etc, while teaching you methods like regularization, decision trees, SVMs and more. Regression is taught well enough but I think in practice, regression is most heavily used and thus some learning will be done on the job itself.

3. Programming - 7.5/10. While python is taught very well in the data science courses, the python coursework in the main programming classes is not the best. I would recommend studying leetcode a lot before joining as those skills are taught well in the classes. C++ is also covered utilizing smart pointers, templates, and inheritance.
(I have heard from younger students that the programming track is being overhauled, which is a great relief)

4. Finance/Econmics - 9/10. Teaches convex optimization, fixed income pricing, options pricing, and market microstructure. They are taught from a very practical perspective.

Other Aspects:
1. Speaker series - speakers from major fims like Citadel, Millenium, Point72, Optiver etc speak to students directly on some cutting edge topic or research.
2. Competitions - CMU students participate in a wide variety of competiions including Rotman International Trading Competition, Optiver Market Making Challenge, Quantbot Datathon, and Poker AI.
3. Internships - I landed a quant trading internship at a commodities market making firm which the career services helped me get. Career services tries its best but it is not a guarantee that everyone gets an internship that they are satisfied with.

When I was deciding on quant finance programs, I knew I wanted something rigorous — but also something that would actually prepare me for the realities of working in the industry. The MSCF program at Carnegie Mellon has delivered on both fronts.

What really makes this program stand out for me is the career services. They don’t just send out a few job postings and leave you on your own — the team is deeply invested in your success. From day one, they’re helping you fine-tune your resume, prepare for interviews, and navigate the recruiting process. They have real insights into what employers are looking for, and they’re constantly making connections for students. I’ve genuinely felt supported every step of the way.

Another thing I’ve loved is the sheer number of industry practitioners who come in to speak. There’s such a wide variety — people from hedge funds, trading firms, asset managers, you name it — and they give us a perspective you just don’t get from textbooks. It’s a huge value add, and it really helps tie the theory to what’s happening in the real world.

The program is challenging — I won't sugarcoat that. But I’ve grown so much, both technically and professionally. And it’s worth it, because MSCF has a strong reputation on Wall Street, and the placement results reflect that. Most of my classmates are going on to really exciting roles after graduation.

One of my favorite parts of MSCF is that we all take classes together. That shared experience really brings people closer — we’ve built strong friendships and a tight-knit network that I know I’ll carry with me long after the program is over.

If you're looking for a program that will challenge you, support you, and set you up for success in quant finance, I can honestly say MSCF has been the right choice for me.

I joined the MSCF program after working in industry (non-quant) for 3 years. Even prior to applying, the program made me feel wanted with tons of opportunities to talk with admissions staff. This attention never stopped and the program clearly makes students know they're valued.

The curriculum is extremely challenging, I have never worked as hard as I have during this program. In my opinion, this is exactly what you want in a quant masters. If you're paying this premium, you better be getting something good from it, and I certainly have learned the material. The results for CMU speak for themselves, relative to the top 2 ranked programs CMU accepts students with less work experience and more rounded backgrounds (from what I have gathered). Sure, the top 2 programs have better placement stats but they're taking in more prepared students. This program will turn you from a non-quant to a quant, not just take arguably quant ready individuals and give them networking opportunities. CMU really does develop the students.

Street reputation is huge here too, I've had many opportunities and interviews solely from being a CMU student. Career services are great and very helpful. Can't complain.

I entered the MSCF program after 2 years of full time experience in an adjacent (but not directly related) financial field. I chose this program for its focus on technical material, and for the robust coursework that is offered. The classes are taught based on recent developments and research, ensuring that they stay relevant and up to date to what is necessary to know in the industry today. The stats/data science/ML courses especially are phenomenal.

Additionally, it is clear that the alumni network is widespread and that alumni hold the program in very high regard -- being able to network with alumni and hear about their experiences directly (at various school-organized events) has been extremely helpful. I know that my experiences in this program will carry me far through my career going forward.

My time at MSCF has been incredible. The classes have been both engaging and practical, with a strong focus on real-world skills. I’ve especially loved the data science and machine learning courses—they’ve not only given me a solid foundation but also a valuable hands-on experience. The professors are fantastic and genuinely make sure we understand the material, going above and beyond to help us succeed.

The community here is amazing too. Working together with other students on assignments or bouncing general ideas off of each other creates a collaborative and supportive vibe that makes the program even more rewarding. What stands out the most, though, is how much the staff cares about each of us. They check in regularly and make sure we’re doing well both academically and personally. This personal touch has made all the difference and really contributes to the welcoming and motivating environment at MSCF.

Faculty and colleagues are second to none. Period. Solid and rigorous mathematics. Not for the timid. Students from all over the globe. Visiting professors are top-flight. Albert Shiryaev told stories of Kolmogorov. Derman, Karatzas, Protter, Smirnov, etc. are outstanding. You may also take electives from the graduate business school and the engineering school. Tough and rewarding time in my life.

The course material is well-structured and Prof. Duffy is able to deliver them well and combines with his own experience.
The TAs are really helpful and provide feedback fast.
The general timeline is good and the workload is just right.
This course really equips me with basic concepts and fundamentals of C++ programming.

CMU's MSCF program is special, and not just for its rigorous academics and industry relevance, but for the community it fosters. The alumni network is incredibly supportive and engaged, opening doors and offering guidance long after graduation. The faculty genuinely care—not just about your grades or whether you land a job, but about you as a person. Their support feels personal, not transactional. The student body is collaborative, and filled with people who are experts in all kinds of areas. No matter what you want to learn, you’ll always find someone willing to share their knowledge.

I entered the MSCF program with a background in Math and Computer Science, but an unsteady foundation in Finance. During an interview with a top-tier asset management firm, I successfully answered over 10 complex fixed income questions — and in that moment, I realized just how instrumental the Fixed Income course from my first semester had been. At the end of the interview, the interviewer said, "I’ve worked with many professionals from the MSCF program — they’re all excellent, which is why I chose to interview you." That was when it truly hit me: the reputation of a program can open doors and create opportunities you wouldn’t get otherwise.

One of the qualities that sets MSCF apart is the unwavering support from its staff. They are deeply committed to guiding students toward becoming top-tier quants and go above and beyond to help us land strong roles in the industry. MSCF also creates countless networking opportunities — whether it's conversations with alumni or events featuring leaders like the Head of Factor Investing at Point72.

Another standout resource is the MSCF Resume Book. It connects students with exclusive job opportunities. Both my classmates and I were contacted through it, and many of us converted those connections into actual offers.

If your primary goal is to break into Quant Finance, Data Science, or Software Engineering, I truly believe MSCF is one of the best choices you can make.

I'm a class of 2026. Attending this program is one of the best decisions i made. MSCF is one of the best programs out there with very high quality teaching resources, career service, and acadmic environment. It also offers location flexibility to be in Pittsburg or New York City, which none of the other programs can do.

Its courses range from mathematics, statistics, machine learning, and programming (python and C++). Faculty at CMU are amazing at teaching with outstanding track record. Students come from all around the world, with some of the best students I have seen in my life, exemplifying the admission competitiveness of the program. Highly recommend to people looking for opportunities in the quant finance space.