Master of Science in Financial Engineering and Risk Management

The Master of Science in Financial Engineering and Risk Management (MS FERM) is a 36 semester-credit-hour STEM (Science, Technology, Engineering and Mathematics) and cohort degree program at the Naveen Jindal School of Management that provides students with the practical and theoretical knowledge needed by those pursuing careers in quantitative finance. Students learn the quantitative skills required to analyze financial information, engineer financial products and manage risks in any business enterprise. Financial data analytics and risk management are becoming two of the hottest fields in finance, and this program is designed to help students succeed in these areas.

MS in Finance To apply for the MS in Financial Engineering and Risk Management degree program, an undergraduate degree is required (all majors are considered).

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  • Connect with the Director
  • Degree Plan
  • Tuition
  • Other Program Costs
  • Financial Aid Information

Connect with the Director

The MS in Financial Engineering and Risk Management degree offers a number of resources to enhance the learning experience. A Finance Trading Lab offers you the opportunity to train and get certified using the Bloomberg terminals. The lab also has access to several databases, including Thomson Reuters Eikon, S&P Capital IQ, SDC Platinum, Morningstar Direct and Wharton Research Data Services. The program and the Jindal School’s Career Management Center host many guest speakers and activities. These resources allow you to improve your quantitative and qualitative skills in analyzing financial data and managing risk.

For more information on the MS in Financial Engineering and Risk Management program and exciting opportunities at UT Dallas, please browse the website. For admissions-related questions, please contact ferm@utdallas.edu.

Robert Kieschnick, PhD Director
MS in Financial Engineering and Risk Management Program
Stefanie Wang Associate Director
MS in Financial Engineering and Risk Management Program

Degree Plan

Program Prerequisite

Students pursuing the Master of Science in Financial Engineering and Risk Management degree program are required to have completed coursework in calculus (including multivariate calculus), linear algebra, probability and statistics, and programming with a grade of B or better. Applicants who have not satisfied all of these requirements may be admitted but will need to demonstrate an ability to master these topics. For students who fail to demonstrate an ability to succeed in their first semester of course work, they will be given the option to pursue instead a Master of Science in Finance degree.

Program Schedule

First Semester (Fall term)

Second Semester (Spring term)

Third Semester (Fall term)

Fourth Semester (Spring term)

While not required for a MS in Financial Engineering and Risk Management degree, a fourth semester is available to students wishing to enhance their skills by additional work or classroom experiences. Arrangements for this additional semester are made on an individual basis.


The MS in Financial Engineering and Risk Management is a self-fund program, and so student tuition is used to fully support the program. For the 2018 entering class, out-of-state tuition will be $14,000 per semester and in-state-tuition will be $12,000 per semester for each of the three semesters of formal course work.

Because the program is self-funded, we do not offer scholarships but rather we will offer tuition discounts based an assessment of the admission committee of the applicant’s prior academic performance or the applicant’s performance in their first semester in the program.

Other Program Costs

Students admitted to the program are expected to pay a seat fee to insure a seat in the program. This seat fee, $500 for the Fall 2018 entering class, will be used to pay for a number of things that the program will provide students, but that are ancillary to their course work. This seat fee is separate from you tuition and is due before final processing of one’s admission is conducted.

In addition, living expenses and health insurance will be borne by the students. For international students, these expenses are set in accordance with the UT Dallas International Student Services Office (ISSO) and State Department guidelines for visa application for international students.

Financial Aid Information

Federal Student Loans are available for a student who is a US citizen or eligible noncitizen; is registered with Selective Service (males) or prove exemption; and, is admitted as a regular degree-seeking graduate student. You must submit the Free Application for Federal Student Aid (FAFSA) to apply electronically. You must first apply for a Federal Student Aid identification number (FSA ID). The FSA ID is needed to sign your FAFSA electronically, correct any information after you get your FAFSA results, and access your financial aid history online. The UTD federal school code is 009741.

Private Educational Loans are available for a student who does not meet the Federal Student Loan requirements or who prefers to borrow from a private educational lender. There are several sources of private-based long term educational loans that are issued based on the credit-worthiness of the borrower. More information is available via the UTD Financial Aid Office, including a list of some lenders.

More information is available by contacting Paula Baxter (paula.baxter@utdallas.edu or 972-883-4114)