Financial Engineers use their knowledge in Computer Science, Statistics, Economics, and Maths to address financial problems. They often solve problems such as financial contracts and risks, implementation of investment rules, etc.
Personal Competencies
• You are good at Maths
• You are adept at keeping records
• You like working with numbers
• You like to analyze things
Entry Pathway
1. Complete 10+2 in Science stream (Physics, Chemistry and Mathematics)
2. Complete Bachelor's degree (B.Sc./BBA/B.Tech.) in Financial Engineering
OR
Complete Bachelor's degree and then do a Master's in the same or allied field
OR
Pursue a certificate course in Financial Engineering
For admissions, you must qualify entrance examination conducted at national level (JEE Main, JEE Advanced etc.) or state level (WBJEE, AP EAMCET etc.) or institute level (VET, IP etc.)
Please check the duration of the course during enrolment
Where will you study?
The course is offered by the Department of Engineering.
This list of institutes is indicative only
GOVERNMENT INSTITUTES
1. Jadavpur University, Kolkata
2. National Institute of Securities Markets, Mumbai
3. BSE Institute, Mumbai
4. Indian Institute of Technology, Kharagpur
5. College of Engineering Trivandrum , Thiruvananthapuram
PRIVATE INSTITUTES
(Please check if institute is affiliated and accredited with UGC and AICTE before applying)
1. Indian Institute of Capital Markets, Navi Mumbai
2. Indian School of Business Management & Administration, Guiarat (Diploma)
3. GD Goenka University, Gurugram
4. Maharishi University of Information Technology, Noida
5. Amrita Vishwa Vidyapeetham, Coimbatore
6. Adarsh Academy of Information Technology, Bengaluru
7. National Academy of Management Studies, Mumbai
DISTANCE LEARNING INSTITUTE
Indira Gandhi National Open University (IGNOU)
Fees
The approx. course fee ranges between INR 25,200 -1,00,000* for one year.
*(The above mentioned figures are approximate numbers This will vary from Institute to Institute)
Scholarships & Loans
SCHOLARSHIPS
• Kishore Vaigyanik Protsahan Yojana Scholarship - This scholarship is provided to students enrolled in the first year of their engineering undergraduate course. Eligibility includes an aptitude test. It is awarded by the Government of India for economically backward students who have a strong aptitude for scientific research.*
• Merit-cum-Means based Scholarship - About 20,000 such engineering scholarships are awarded by the Ministry of Minority Affairs every year. The full course fees of awardees is directly paid to their institutions under this scheme.*
• Indian Oil Educational Scholarship- The IOC Ltd offers 300 scholarships every year to eligible students. Students need to be enrolled in an undergraduate course. The scholarship particularly focuses on students with physical disabilities, women and students from North East and J&K.*
• National Scholarship Portal - Visit http://www.scholarships.gov.in Under this portal there are Central Government schemes offered by different departments, UGC/AICTE Schemes and State Schemes.*
• Visit http://www.buddy4study.com a gateway to scholarships starting from Class XI*
• Scholarships are also available in institutes based on merit.*
*(Availability of these scholarships vary from time to time)
LOANS
• VidyaLakshmi, http://www.vidyalakshmi.co.in, is a portal for students seeking education loan. This portal has been developed under the guidance of the Department of financial Services, (Ministry of Finance), Ministry of Education, Government of India and Indian Banks Association (IBA).
• Some states have student credit cards with Iow interest rates, for instance, West Bengal, Odisha, Bihar, etc.
• All banks give education loans.
Where will you work?
Places of Work: Investment banks, Commercial banks, Hedge funds, fintech companies, Insurance companies, Corporate treasuries and Financial regulatory agencies
Work Environment: Financial engineers are normally based in offices. You have to spend long hours on computers, doing research and compiling data. It is not uncommon for financial engineers to work more than 45 hours per week.
Opportunities for differently abled exist in this field
FINANCIAL ENGINEER
NCS Code: NA | BF017• You are good at Maths
• You are adept at keeping records
• You like working with numbers
• You like to analyze things
1. Complete 10+2 in Science stream (Physics, Chemistry and Mathematics)
2. Complete Bachelor's degree (B.Sc./BBA/B.Tech.) in Financial Engineering
OR
Complete Bachelor's degree and then do a Master's in the same or allied field
OR
Pursue a certificate course in Financial Engineering
For admissions, you must qualify entrance examination conducted at national level (JEE Main, JEE Advanced etc.) or state level (WBJEE, AP EAMCET etc.) or institute level (VET, IP etc.)
Please check the duration of the course during enrolment
The course is offered by the Department of Engineering.
This list of institutes is indicative only
GOVERNMENT INSTITUTES
1. Jadavpur University, Kolkata
2. National Institute of Securities Markets, Mumbai
3. BSE Institute, Mumbai
4. Indian Institute of Technology, Kharagpur
5. College of Engineering Trivandrum , Thiruvananthapuram
PRIVATE INSTITUTES
(Please check if institute is affiliated and accredited with UGC and AICTE before applying)
1. Indian Institute of Capital Markets, Navi Mumbai
2. Indian School of Business Management & Administration, Guiarat (Diploma)
3. GD Goenka University, Gurugram
4. Maharishi University of Information Technology, Noida
5. Amrita Vishwa Vidyapeetham, Coimbatore
6. Adarsh Academy of Information Technology, Bengaluru
7. National Academy of Management Studies, Mumbai
Information on the institute rankings can be found at - http://www.nirfindia.org/2022/Ranking.html
DISTANCE LEARNING INSTITUTE
Indira Gandhi National Open University (IGNOU)
The approx. course fee ranges between INR 25,200 -1,00,000* for one year.
*(The above mentioned figures are approximate numbers This will vary from Institute to Institute)
SCHOLARSHIPS
• Kishore Vaigyanik Protsahan Yojana Scholarship - This scholarship is provided to students enrolled in the first year of their engineering undergraduate course. Eligibility includes an aptitude test. It is awarded by the Government of India for economically backward students who have a strong aptitude for scientific research.*
• Merit-cum-Means based Scholarship - About 20,000 such engineering scholarships are awarded by the Ministry of Minority Affairs every year. The full course fees of awardees is directly paid to their institutions under this scheme.*
• Indian Oil Educational Scholarship- The IOC Ltd offers 300 scholarships every year to eligible students. Students need to be enrolled in an undergraduate course. The scholarship particularly focuses on students with physical disabilities, women and students from North East and J&K.*
• National Scholarship Portal - Visit http://www.scholarships.gov.in Under this portal there are Central Government schemes offered by different departments, UGC/AICTE Schemes and State Schemes.*
• Visit http://www.buddy4study.com a gateway to scholarships starting from Class XI*
• Scholarships are also available in institutes based on merit.*
*(Availability of these scholarships vary from time to time)
LOANS
• VidyaLakshmi, http://www.vidyalakshmi.co.in, is a portal for students seeking education loan. This portal has been developed under the guidance of the Department of financial Services, (Ministry of Finance), Ministry of Education, Government of India and Indian Banks Association (IBA).
• Some states have student credit cards with Iow interest rates, for instance, West Bengal, Odisha, Bihar, etc.
• All banks give education loans.
Places of Work: Investment banks, Commercial banks, Hedge funds, fintech companies, Insurance companies, Corporate treasuries and Financial regulatory agencies
Work Environment: Financial engineers are normally based in offices. You have to spend long hours on computers, doing research and compiling data. It is not uncommon for financial engineers to work more than 45 hours per week.
Opportunities for differently abled exist in this field
Consultant → Manager/Senior Software Engineer/Project Manager → Senior Manager/Senior ConsuItant
The approx. salary of an Financial Engineer ranges between INR 43,000 - 1,70,000* or more per month.
Source - https://in.jooble.org/salary/financial-engineer
Experts from the field
financial analyst, quantitative risk analyst, financial special