Why a Masters Degree Matters for Quant Careers
While some candidates break into quantitative finance straight from undergraduate programs or PhDs, a specialized masters degree remains one of the most efficient paths into the industry. These programs provide concentrated quantitative training, structured recruiting pipelines, and alumni networks at top firms.
For the full interactive rankings table with sortable columns, visit our University Rankings page.
2026 Rankings: Top 10
#1 Baruch College — New York, NY | Tuition: $45,090 | Acceptance: 4.0% | Graduation employment: 100% | Avg salary: $178,824
Baruch's MFE program tops the rankings with the lowest tuition, most selective admissions, and highest employment rate and salary among all programs. An exceptional value proposition.
#2 Princeton University — Princeton, NJ | Tuition: $130,420 | Acceptance: 5.4% | Graduation employment: 94% | Avg salary: $160,217
Princeton's Master in Finance is small, highly selective, and benefits from the university's strength in mathematics and proximity to New York.
#3 Carnegie Mellon University — Pittsburgh, PA | Tuition: $104,615 | Acceptance: 17.2% | Graduation employment: 72% | Avg salary: $134,259
CMU's MSCF is one of the oldest and most respected financial engineering degrees, balancing quantitative theory with practical implementation.
#4 Columbia University (MFE) — New York, NY | Tuition: $97,200 | Acceptance: 13.3% | Graduation employment: 79% | Avg salary: $138,000
Columbia's MFE benefits from its New York location and strong ties to Wall Street firms.
#5 (tie) MIT — Cambridge, MA | Tuition: $129,450 | Acceptance: 8.3% | Graduation employment: 78% | Avg salary: $140,140
MIT Sloan's MFin draws from MIT's extraordinary quantitative ecosystem with strong Boston and New York connections.
#5 (tie) UC Berkeley — Berkeley, CA | Tuition: $87,046 | Acceptance: 17.4% | Graduation employment: 77% | Avg salary: $154,383
Berkeley's MFE is known for rigorous curriculum and strong West Coast network, with the second-highest average salary among all programs.
#7 University of Chicago — Chicago, IL | Tuition: $100,693 | Acceptance: 22.0% | Graduation employment: 73% | Avg salary: $123,867
Chicago's MSFM draws on the university's deep tradition in economics and statistics, with natural recruiting advantages at Chicago-based prop trading firms.
#8 Georgia Institute of Technology — Atlanta, GA | Tuition: $66,132 | Acceptance: 30.2% | Graduation employment: 94% | Avg salary: $114,684
Georgia Tech's QCF ties with Princeton for the second-highest graduation employment rate at a significantly lower tuition.
#9 (tie) Columbia University (MAFN) — New York, NY | Tuition: $103,088 | Acceptance: 22.3% | Graduation employment: 53% | Avg salary: $122,692
Columbia's mathematics of finance program is jointly offered by the math and statistics departments.
#9 (tie) NC State University — Raleigh, NC | Tuition: $66,048 | Acceptance: 16.7% | Graduation employment: 80% | Avg salary: $105,350
NC State's MFM offers strong outcomes at a fraction of the cost of peer programs, with 100% employment within 3 months of graduation.
Programs Ranked #11–26
The remaining ranked programs include Cornell University, NYU Courant, NYU Tandon, UCLA, Fordham University, University of Washington, UIUC, UNC Charlotte, Rutgers University, Stevens Institute of Technology, University of Minnesota, Boston University, Johns Hopkins University, Lehigh University, Stony Brook University, and UC San Diego. See the full details on our rankings page.
How to Choose the Right Program
When evaluating programs, consider these factors:
- Placement data: Graduation employment rates range from 18% (Boston University) to 100% (Baruch). Look at both at-graduation and 3-month-out rates.
- Salary outcomes: Average base salaries range from $84,171 (Boston University) to $178,824 (Baruch). Higher-ranked programs generally command higher starting pay.
- Cost and ROI: Tuition ranges from $45,090 (Baruch) to $130,420 (Princeton). Programs like Baruch, NC State, and University of Washington offer strong outcomes at lower cost.
- Selectivity: Acceptance rates range from 4.0% (Baruch) to 88.2% (UNC Charlotte). More selective programs tend to have stronger recruiting pipelines.
- Location: Proximity to quant hubs — New York, Chicago, Boston — provides recruiting advantages.
For current job openings at firms that hire from these programs, browse our quant job listings. For the full sortable rankings table, visit our University Rankings.