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Employment Statistics
Employment Statistics for the Graduates of the
Financial Engineering MS
Program
Six cohorts of students have graduated since our Financial Engineering
MS
Program started in September 2002. (The MFE Program was then called the
Applied
Mathematics for Finance Master Program.)
The Baruch MFE program has over one hundred alumni. Having a
rigorous and selective admission process means that
our cohorts, and therefore the graduating classes, tend to be small.
Though several of our alumni are currently pursuing PhD degrees in
finance and
economics, over 90% of our alumni work in the financial industry. All
the
students who graduated in December 2006 found employment in the
industry. Our
experience is that international students have a success rate similar
ro that of
US residents, the one major difference being that international
students are
rarely eligible for positions that have to be filled immediately.
A small number of our graduates do not look for employment, primarily
because
they already have senior positions in the financial industry.
First Year Compensation
The first year compensation reported here is the compensation
guaranteed at the
time of hire. It is comprised of the starting base salary plus the
signing bonus
plus any first year bonus guaranteed in the offer letter, if any.
The annual performance-based bonus is not included here. The annual
bonus is
typically an additional 15-25% of the base salary, and may by prorated.
We do
not track these numbers. In other words, the first year total
compensation of
our graduates is higher than the guaranteed compensation reported.
|
Graduation Date
|
Graduates
|
Placement Rate
|
PhD/MS
|
Did Not Look
|
Low
|
High
|
Average
|
|
Dec'03-May'04
|
14
|
8 of 10
|
4
|
0
|
60K
|
80K
|
69K
|
|
Dec'04-May'05
|
10
|
8 of 10
|
0
|
0
|
70K
|
110K
|
87K
|
|
Dec'05-May'06
|
19
|
15 of 16
|
2
|
1
|
55K
|
155K
|
94K
|
|
Dec'06-May'07
|
27
|
18 of 19
|
1
|
7
|
65K
|
195K
|
111K
|
|
Dec'07-May'08
|
27
|
21 of 22
|
0
|
5
|
60K
|
200K
|
93K
|
| Dec'08 |
22 |
15 of 17* |
0 |
5 |
65K |
125K |
92K |
* As of April 15, 2009
First Year Starting Salary
The table below contains the first year starting salary of our
graduates, which
does not include any bonuses
|
Graduation Date
|
Graduates
|
Placement Rate
|
PhD/MS
|
Did Not Look
|
Low
|
High
|
Average
|
|
Dec'05-May'06
|
19
|
15 of 16
|
2
|
1
|
55K
|
120K
|
81K
|
|
Dec'06-May'07
|
27
|
18 of 19
|
1
|
7
|
65K
|
135K
|
96K
|
|
Dec'07-May'08
|
27
|
21 of 22
|
0
|
5
|
60K
|
135K
|
88K
|
| Dec'08 |
22 |
15 of 17 |
0 |
5 |
65K |
115K |
85K |
First Year Starting Salary for graduates with no relevant work
experience
First year compensation depends in part on prior work experience. Some
of our
students worked in the financial industry before starting the program
(although
not necessarily in front office positions), and this seniority has
usually been
recognized in initial compensation packages. However, some of the
highest
compensation packages have also been offered to strong graduates with
no
previous work experience in the financial industry.
The table below contains data on the first year starting salary of our
graduates
who had either no work experience, or no relevant work experience in
the US.
|
Graduation Date
|
Graduates
|
Placement Rate
|
PhD/MS
|
Did Not Look
|
Low
|
High
|
Average
|
|
Dec'05-May'06
|
12
|
9 of 10
|
2
|
1
|
55K
|
115K
|
76K
|
|
Dec'06-May'07
|
10
|
9 of 9
|
1
|
0
|
65K
|
105K
|
83K
|
|
Dec'07-May'08
|
18
|
17 of 18
|
0
|
0
|
60K
|
96K
|
79K
|
| Dec'08 |
15 |
14 of 15 |
0 |
0 |
65K |
115K |
84K |
|
|
