Academics
The Master of Science in Computational Finance (MSCF) curriculum was developed from the joint venture between four Carnegie Mellon University colleges. This unique collaboration enables MSCF to offer a tight integration of statistics, computer science, mathematics and finance - the four disciplines underlying computational finance.
MSCF’s reputation for excellence lies squarely on the strength of our faculty and the custom-tailored courses developed and updated over the past twenty-seven years. Well-balanced between theory and practice, MSCF offers a blend of carefully coordinated quant, applied finance and computational coursework. It is the best of its kind.
While students are permitted a degree of specialization in the last two mini-semesters through their choice of electives, the program is largely fixed with each set of courses preparing the groundwork for the next, more advanced, set. With all our students taking the same set of core courses, recruiters value our students’ consistent ability to meet the analytical and technical challenges facing the industry.
Admissions prerequisites：
- Calculus I and II
- Linear algebra
- Calculus-based probability
- A minimum of one-semester of an object-oriented programming language course (C++, Java, Python, C#). More than one semester is preferred.
Candidates with deficiency in one of these areas will be considered provided proper remediation is completed before enrollment, should an offer of admission be extended.
Online Application Form
This is the standard information we ask you to provide and includes personal, professional and educational information. Update your contact information using the online application system should it change during the application process, but before you make an enrollment deposit. After a deposit is made, contact our office directly to ensure that we have your most up-to-date contact information.
Once submitted, you cannot make any other changes to your application (other than your contact information). Be sure to review your application materials prior to submission.
Current Resume
Your resume should be one to two pages and highlight the achievements you have made in your professional career, using a standard (i.e. Times New Roman or Arial), 12-pt. font. It is REQUIRED that your resume includes the month and year for starting and ending dates for each position held.
Transcripts
To be considered for admission, you must hold a four-year bachelor’s degree from an accredited college or university in the U.S. or an equivalent degree from a foreign country prior to the start of the program.
Applicants are required to upload legible scanned/digitized copies of official transcripts and degree certificates indicating name, degree earned and the date the degree was completed (if applicable) for ALL institutions attended, including exchange programs and transfer credits. Internet printouts or copies of unofficial transcripts will NOT be accepted. All transcripts should clearly state your name and the name of the institution. Upload all pages of your transcript, including the transcript key for your university (for U.S. institutions, this is often found on the back of the transcript). Should you be admitted, you are required to submit official transcripts directly to our admissions office from your educational institution.
Didn’t attend college or university in the U.S.
If the transcript is in a language other than English, an official translation must also be included. We follow the World Education Services (WES) Standards to determine what documents non-U.S. candidates need to submit. We DO NOT accept WES credential evaluations, but rather, use their standards as a guideline to ensure that all the required transcript components are uploaded and submitted with your application.
Official Test Scores
We require an official, valid GRE or GMAT score. It is not necessary to take both tests. We encourage you to take the GMAT or GRE before submitting your application; however, we will accept scores that arrive within 2 weeks of the application deadline for which you have applied. We will not review your application without receipt of either an official GRE or GMAT score report.
Scores are valid for five years and must be valid at the time you submit your application. A candidate who has taken the GMAT or GRE more than once will self-report the highest score when completing the online application.
Essays
There are two required short answer essays in addition to a 90-second video essay response.
You are first required to select your desired post-MSCF career path from a pre-defined choice group.
You will then respond to the following two short answer essay topics:
Provide examples from your past professional or academic experience that highlight skills you have developed that will be directly applied in your above-selected functional area. (350 word max)
Tell us about a time you had to overcome a challenge in order to succeed. (350 words max)
For your 90-second video essay, we want to learn more about your background and your professional motivation. You are required to respond to the following prompt:
Provide the specific steps you took and resources you utilized to secure a previous academic or professional opportunity. Explain how this experience will benefit you in your desired career path.
Applicants can also upload an optional essay (2-pages max) to convey any additional information that the admissions committee should know in considering your candidacy.
Letters of Recommendation
Three Letters of Recommendation are required. Choose individuals who know you well and are able to provide specific and relevant information about your potential for academic and career success. In particular, we seek recommendation letters that can speak to your abilities in mathematics, statistics, computer science and applied finance. Additionally, select recommenders who will be able to assess your communication skills, particularly in English, your motivation, work ethic and ability to work collaboratively on a team. If you are currently a full-time student or a recent graduate (within the past three years), you should submit one recommendation from an academic source. The admissions committee prefers at least one recommendation from a professional relationship. Prior to submitting your application, you will input your recommender’s contact information in the online system. While you will complete the recommendation section of the application prior to submitting, aim to have your recommender submit their recommendation within a week of the application deadline. This is important because your application will not be forwarded to the Admissions Committee until the recommendation is received.
English Language Proficiency Exam (Duolingo, TOEFL or IELTS)
International candidates are required to demonstrate a level of competence in English to meet the admissions requirements of the university. You are required to take either the Duolingo English Test, TOEFL or IELTS exam unless:
You attended an undergraduate institution for two or more years where you earned a bachelors degree (or will earn a bachelors degree by July 31, 2023 for the Fall 2023 entering class) and the sole language of instruction was English. If you only completed two-years of your bachelors degree at an English-speaking institution, while not required, we do recommend that you take one of the English language proficiency exams. If the institution is not located in the U.S. or in a country with English as an official language of instruction in higher education, a statement indicating that the primary language of instruction was English should be listed on the academic documents. If the academic document does not include this statement, an official letter from the University Registrar indicating English as the mode of instruction for the entirety of the degree will be required.
You earned a graduate degree that was taught entirely in English. Although not required, we do recommend that you take an English language proficiency exam.
Application Fee
A $125 application fee is required of all applicants. This fee must be paid online using a credit card at the time of submission.
