Master of Science in Financial Engineering

Data Science, Machine Learning and Predictive Analytics

Find out if this program is right for you!

Ms. Katrin Olböter
Junior Manager Recruitment & Admissions

+49 721 608 47019

“We see modern Financial Engineering as the science of data-driven decision making in business environments. Building more accurate models reduces uncertainty around future events and paths the way to better decision making. It is a mix of broad decision-making applications, sound data and modeling work, paired with an entrepreneurial drive to solve innovation challenges using modern software and financial thinking, that makes our Master’s Program in Financial Engineering a unique experience.”
Prof. Dr. Maxim Ulrich

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Our Master’s program in Financial Engineering offers you a unique combination of finance theory, engineering methods, management tools, mathematical and computational techniques – blended with new developments from the field of artificial intelligence and data science. Financial Engineering introduces you to these techniques in a practical way, with a focus on hands on applications implemented in the Python programming language.

Focus Points of Financial Engineering

Data Science
Machine Learning For Business And Finance Innovations
Data-Driven Decision Making
Financial And Risk Management With Python

Key Facts

Structure: Part-time (but enrolled as a fulltime student)
10 modules x 2 weeks in Karlsruhe + master thesis in the company or at a KIT institute
- 5 Engineering Modules: Technological expertise
- 5 Management Modules: Leadership know-how
Duration: Approx. 20 months (modules 14 months + master thesis 6 months)
Language: English
Degree: Master of Science (M.Sc.) of the Karlsruhe Institute of Technology (KIT), 90 ECTS
Start: Every year in October
Application deadline: There is none. We have a rolling application process.
Costs: detailed information on our costs and fees webpage
- Special Option available for students of the winter term 2023/24: 30,000.00 € (thirty-six thousand Euro) for the entire Master´s program
- 36,000.00 € (thirty-six thousand Euro) for the entire Master´s program
Admission requirements: First academic degree (e.g. Bachelor, Master or Diploma), at least 1-2 years work experience, English language proficiency. Find more here.
Accreditation: by aaq

Modeling and Understanding Data to Untap Hidden Value

The Master's program Financial Engineering is divided into 5 Engineering and 5 Management modules of 2 weeks, each over a period of 15 months. The modules are followed by a Master Thesis written in the company (6 months) and often used as an innovation project for the company. The overall duration is approx. 20 months.

Engineering Modules	Management Modules
Digital Financial Markets Financial Economics for Data Scientists Machine Learning for Data-Driven Decision Making Engineering Aspects of Financial Markets Alternative Data and Machine Learning for Business Applications Preparatory Courses*: "Probability and Statistics", and "Programming. Object-oriented programming with Java."	Marketing & Information Finance & Value Decisions & Risk Innovation & Projects Strategy & People

Engineering Modules

Management Modules

Digital Financial Markets
Financial Economics for Data Scientists
Machine Learning for Data-Driven Decision Making
Engineering Aspects of Financial Markets
Alternative Data and Machine Learning for Business Applications

Preparatory Courses*:
"Probability and Statistics", and
"Programming. Object-oriented programming with Java."

Marketing & Information
Finance & Value
Decisions & Risk
Innovation & Projects
Strategy & People

Assessing and controlling different types of risks are key responsibilities in the financial sector.

Reveal the Value of our Master´s Program Financial Engineering here

Program Content

The Master´s program in Financial Engineering provides innovative solutions of pricing, hedging, trading and portfolio management problems by employing advanced mathematical methods and computer technology. Graduates will be qualified to consider challenges in the financial sector from an engineer’s point of view and to develop and optimize innovative solutions on the basis of fundamental economic laws.

Knowing the Right Answer

After completing the Financial Engineering Master program you will have answers to vital questions like:

Should company X manufacture product Y?
Should company X build a warehouse in Z?
How does a delay change the value of the project?

Making Better Decisions

Understanding projects strategically helps to make better decisions:

Learn which decisions need to be taken in order to leverage the value of the company/product.
Recognize the strategy behind the project and understand the big picture
Know what mergers, acquisitions and changes mean and how you can influence the consequences.
Create compelling evaluation systems and key figures to present your project, your department and yourself the best.

The right decision: With this Master´s program prepares you are prepared for a vibrant future!

Download the program catalogue.

Program Structure & Academic Calendar

Timetable — Academic Calendar Intake 2024

Program Structure

The concurrently taught Executive Master’s program is designed for working professionals. Block lectures scheduled at intervals allow participants to continue their demanding careers while acquiring new skills.

The Master’s program is divided into 10 modules: 5 Management modules present broader knowledge in management know-how and 5 Engineering modules provide deeper knowledge in technological topics.

Download the Academic Calendar Intake 2024 (PDF)

Content Overview & Learning Targets

Order now our "Content Overview and Learning Targets" (COLT) to get a better understanding of your favored Master Program. You will get an overview over

Study objectives (e.g. professional qualification for certain activities, scientific practice, knowledge of methods)
Structure of the program
Content and definition of courses (sub-areas, focal points)
Study plan

Click here to request your "Content Overview and Learning Targets" handbook.

Economic Sector & Career Perspective

Participants of Financial Engineering

Participants of Financial Engineering strive for a demanding career in a financial company such as an investment or commercial bank, an exchange or a rating agency. The techniques are also to the utmost benefit for candidates who pursue a career in a non-financial corporate, since the topics covered are well applicable to corporate finance, and corporate risk management.

Professionals working in financial product-oriented service sectors, e.g.:

Consulting agencies
Investment and private banks
Corporate departments in industry
Insurance companies

Career Perspectives after Graduation

With the pace of financial innovation, the need for highly qualified people trained in financial engineering also increases.
In many areas, the financial industry is currently facing structural changes to its offerings, IT systems and processes. The operational picture is characterized by a high project volume. Due to the high cost and competitive pressure, employees must be able to think and act in a cost-conscious, networked and innovative manner. This increasingly requires an interdisciplinary academic education for managers and future managers with modern IT skills, skills in designing industrial processes up to skills in managing large change programs.

Alumni Voice

"HECTOR School is the school of life. You rise coping with the challenges and each module is the next step of your progress."
Ekaterina N. Sereda/HECTOR School Intake 2007
RWE Supply & Trading

Find more Alumni Voices of our Master´s Programs

Academic Requirements & Admission Statutes

Academic Requirements

University degree in a relevant subject
Professional experience (at least 1-2 years) & current employment
English proficiency

Detailed description of all admission requirements

Admission Statutes

Download the statutes for admission to the Master's program in Financial Engineering (only available in German).

Program Directors & Faculties

Program Directors

	Prof. Dr. Maxim Ulrich Institute for Finance, Banking and Insurance (FBV), KIT
	Prof. Dr. Martin E. Ruckes Institute for Finance, Banking and Insurance (FBV), KIT

KIT Teaching Quality

The HECTOR School offers top-level teaching derived from state-of-the-art research at the Karlsruhe Institute of Technology (KIT). Numerous institutes and departments of the KIT are involved in the HECTOR School Master´s program Financial Engineering:

Admission Requirements

Find out which requirements you need in order to be admitted to our Master's programs.

_{*Preparatory Courses}

_{Crash Course “Probability and Statistics”: Participants without experience in the field of probability are highly recommended to take part in the Crash Course “Probability and Statistics” taking place from November 1 to November 10, 2023. Thanks to the blended learning format you can schedule the courses yourself within these two weeks. You have an exchange with the lecturer during video meetings in order to prepare yourself optimally for the start of your studies.

We highly recommend all applicants to participate in the courses to update the technical knowledge, as it might be the crucial factor for a successful Master degree at HECTOR School.}

_{Certificate Course "Programming": The Certificate Course Programming provides basic knowledge and allows repeating foundations of object-oriented programming. The course will take place February 27 to March 1, 2024. Find here » more information about the Certificate Course Programming}