Master Programme
Master of Financial Engineering
The Berkeley Haas Master of Financial Engineering is a one-year quantitative finance programme that combines mathematics, statistics and computer science with how financial markets work. After a week-long orientation in January, students take investments and derivatives, empirical methods in finance and stochastic calculus, then derivatives pricing with numerical methods, fixed income markets and financial data science with Python machine learning. A 10-12 week internship or industry project is required, and the later terms cover financial risk measurement and management, electives and an Applied Finance Project on an unsolved practical problem. Weekly seminars with industry practitioners and career preparation courses run throughout.
University
University of California, Berkeley
Country
United States
Level
Master
Field
Finance
Duration
1 year full-time (January to January; 28 units plus a 10-12 week internship); a 2-year part-time Flex option is also offered
Language
English
Campus
Berkeley
Degree
Master of Financial Engineering (MFE)
Intake
Spring only (January start); there is no fall admission
Application Deadline
Spring 2028 entry: Round 1 by 1 December 2026, Round 2 by 27 January 2027, Round 3 by 1 April 2027 and Round 4 by 1 July 2027 (all at 9:00 a.m. ET); late applications are accepted until 15 July 2027 if space remains. Decisions are posted about nine weeks after each deadline. The application fee is US$275, non-refundable
Tuition Information
Latest published costs, for the full-time class entering in January 2027 (spring and fall 2027 terms): program and university fees of US$98,036 (tuition US$95,353, campus fee US$2,282, IREF US$282 and a US$119 document management fee), US$8,206 for SHIP health insurance (waivable), US$594 for books and US$19,674 in estimated living costs during instruction, an estimated cost of attendance of US$126,510. The part-time option for that class charges US$3,353 per unit. Haas also recommends budgeting up to US$5,000 for the required pre-program courses, and F and J students pay a Berkeley International Office fee each semester. Costs for the class entering in spring 2028 had not been published when we checked
Admission Requirements
- A bachelor's degree completed before the programme starts, usually with at least a 3.0 GPA in upper-division work, and a strong quantitative background: calculus, multivariable calculus, linear algebra, differential equations, numerical analysis and advanced probability and statistics or econometrics, plus programming experience in C++ and Python and some finance training (two courses or equivalent work experience). Prerequisites should be completed, or planned, with grades of B or better; conditional admission is possible. Work experience is preferred but not required
- Application materials: transcripts, resume, essays, a two-minute video essay (two attempts), two letters of recommendation from people who know your quantitative work, and a GMAT, GMAT Focus or GRE score no older than 1 January 2023 for spring 2028 entry. The test is optional only for PhD holders or graduates of a four-year US bachelor's with a final GPA of 3.70 or higher. Interviews are by invitation
- English proficiency (if your degree is from a country where the official language is not English, unless you completed a year of full-time study in the US with B grades or better): the MFE asks for TOEFL iBT 90 (Home Edition accepted; MyBest, TOEFL ITP and Duolingo are not) or IELTS Academic 7 overall, and Graduate Division English rules apply (TOEFL code 4833, department 82)