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, and so on.
Personal Competencies
You are good at Maths
You are adept at keeping records
You like working with numbers and charts
You like to analyze things
Entry Pathway
1. Complete 10+2 in Science stream ( Physics, Chemistry and Mathematics)
2. Complete your Bachelor’s degree (BSc/BBA/BTech) in Engineering
OR
Complete your 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 to engineering courses, you must qualify JEE Main. JEE Advanced is needed for admissions to IITs.
Other entrance exams can be taken: ICAR/GATE/AIEEA/MHT/CET/UPCATET/AP EAMCET/CG PAT/SHIATS Entrance Exam/CCSHAU Entrance Exam/Assam Agriculture University VET/Rajasthan JET/AGRICET.
Please check the duration of the course during enrolment
Where will you study?
This 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, Maharashtra 3.BSE Institute, West Bengal 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, Gujarat(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
Online courses • You can also pursue online courses in this field offered by NPTEL*, Coursera and Indian Institute of Quantitative Finance, Mumbai among others
* NPTEL- National Programme in Technology Enhanced Learning. It is by the Government of India and offers a variety of courses in an audio-video form
Fees
Fees range between INR 25,200 to 1,00,000 approx. 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 the National Scholarship Portal. Under this portal there are central government schemes offered by different departments, UGC/AICTE Schemes and State Schemes.*
• Scholarships are made available by institutes themselves 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), Department of Higher Education (Ministry of Human Resource Development) and Indian Banks Association (IBA). Students can view, apply and track the education loan applications on the website.
• Some states have student credit cards with low interest rates, for instance, West Bengal, Odisha, Bihar, etc.
• All banks give education loans.
Where will you work?
Places of Work: Electronics companies across India or in telecommunications companies, manufacturers or also as installers of communication devices and systems
Work Environment: Companies usually work for 5 to 6 days a week and 8 to 9 hours everyday. This may vary from company to company. Shift system might be applicable.
Opportunities for differently abled exist in this field
Teri Geske is a financial writer who has worked in the institutional asset management and investment analytics arena for more than 20 years. She completed her MBA, with concentration in Finance, UCLA Anderson School; BA, Rhetoric & Communication, Duquesne University (summa cum laude). Before launching her career as a freelance content creator for financial services firms, Teri helped to design portfolio analytics and models for institutional asset managers. She has worked with various asset classes, with a specialty in fixed income. She was a Lecturer and Executive in Residence with the UCLA Anderson Master of Financial Engineering program for five years and taught Corporate Finance at the Mount St. Mary University MBA program for five years.*
Financial Engineer
NCS Code: NA | E0151. Complete 10+2 in Science stream ( Physics, Chemistry and Mathematics)
2. Complete your Bachelor’s degree (BSc/BBA/BTech) in Engineering
OR
Complete your 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 to engineering courses, you must qualify JEE Main. JEE Advanced is needed for admissions to IITs.
Other entrance exams can be taken:
ICAR/GATE/AIEEA/MHT/CET/UPCATET/AP EAMCET/CG PAT/SHIATS Entrance Exam/CCSHAU Entrance Exam/Assam Agriculture University VET/Rajasthan JET/AGRICET.
Please check the duration of the course during enrolment
This 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, Maharashtra
3.BSE Institute, West Bengal
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, Gujarat(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
Online courses
• You can also pursue online courses in this field offered by NPTEL*, Coursera and Indian Institute of Quantitative Finance, Mumbai among others
* NPTEL- National Programme in Technology Enhanced Learning. It is by the Government of India and offers a variety of courses in an audio-video form
Fees range between INR 25,200 to 1,00,000 approx. 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 the National Scholarship Portal. 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 made available by institutes themselves 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), Department of Higher Education (Ministry of Human Resource Development) and Indian Banks Association (IBA). Students can view, apply and track the education loan applications on the website.
• Some states have student credit cards with low interest rates, for instance, West Bengal, Odisha, Bihar, etc.
• All banks give education loans.
Places of Work: Electronics companies across India or in telecommunications companies, manufacturers or also as installers of communication devices and systems
Work Environment: Companies usually work for 5 to 6 days a week and 8 to 9 hours everyday. This may vary from company to company. Shift system might be applicable.
Opportunities for differently abled exist in this field
Consultant → Manager/Senior Software Engineer/Project Manager → Senior Manager/Senior Consultant/Product Manager
OR
Analyst → Finance Analyst/Quality Assurance Analyst/Manager → Quality Assurance Manager/Property Manager → Senior Analyst/ Quality Assurance Director/Portfolio Manager
The approx. salary of a Fiancial Engineer ranges from INR 1,09,300 - 1,12,400 per month
Source: https://www.ambitionbox.com/profile/financial-engineer-salary
*These figures are indicative and subject to change
Experts from the field
Teri Geske is a financial writer who has worked in the institutional asset management and investment analytics arena for more than 20 years. She completed her MBA, with concentration in Finance, UCLA Anderson School; BA, Rhetoric & Communication, Duquesne University (summa cum laude). Before launching her career as a freelance content creator for financial services firms, Teri helped to design portfolio analytics and models for institutional asset managers. She has worked with various asset classes, with a specialty in fixed income. She was a Lecturer and Executive in Residence with the UCLA Anderson Master of Financial Engineering program for five years and taught Corporate Finance at the Mount St. Mary University MBA program for five years.*
Source: https://wentworthwriting.com/about/teri-geske/
*The above information is for training purposes only and will not be used for any commercial gains
financial analyst, quantitative risk analyst, financial specialist