Financial Engineering (FE), M.Sc.

  • N/A
    Application Deadline
  • 20 months
  • Tuition
    Tuition (Year)
    Tuition (Year)
  • English (take IELTS)
Fast-evolving financial markets constantly set new challenges while progress in quantitative tools and computer technology open up entirely new opportunities. Therefore, the finance industry needs people with deep knowledge of financial theory, mathematical tools and information technology as well as adequate methods of engineering and management tools. FE qualifies graduates to meet all this needs. This Financial Engineering (FE) programme is offered by the Karlsruhe Institute of Technology (KIT).
  • Overview
  • Programme outline
  • Key facts
  • Admission requirements
  • Fees and funding


The Master Program in Financial Engineering provides innovative solutions of pricing, hedging, trading and portfolio management problems by employing advanced mathematical methods and computer technology. Graduates will be qualified to consider challenges in the financial sector from an engineer’s point of view and to develop and optimize innovative solutions on the basis of fundamental economic laws.

Career Perspectives

Assessing and controlling different types of risks are key responsibilities in companies as well as in the financial sector. The quality of risk management processes is a crucial factor in the success or failure of the business. Increasingly complex financial products, various regulations and the enormous importance of information technology have created a great challenge both to financial and non-financial companies.

This Financial Engineering (FE) programme is offered by the Karlsruhe Institute of Technology (KIT).


This program is accredited by the ASIIN.

Programme Structure

Hot Topics in FE
  • Risk management: risk analysis, risk sensitiveness, risk assessment, and risk rating
  • Asset management & optimal investment portfolios
  • Derivatives: sensitivity analyses, static & dynamic trading strategies
  • Safety & security in IT systems (e.g. computational models to predict returns and to solve quant finance problems with modern software)
  • Analysis of projects regarding the associated information, service and finance products used from the innovation to the product launch and after
The content of the Master Program is divided into 10 modules: 5 Engineering Modules addressing technological topics, and 5 Management Modules providing general leadership know-how.

Engineering Modules

  • Information & Service Management
  • Global Financial Markets
  • Fundamentals in Financial Engineering
  • Advanced Financial Engineering
  • Risk Management

Management Modules

  • International Project Management
  • Finance for Executives
  • Business Strategy, Marketing & Controlling
  • Stochastic & Games
  • Law & Contracts


Professionals working in financial product-oriented service sectors, e.g.:

  • Investment and private banks
  • Corporate departments in industry
  • Insurance companies

Detailed Programme Facts

  • Full-time duration 20 months
  • Study intensity Part-time
    • Intensity Flexible
    • Duration part-time 20 months
    • Part-time variant
  • Credits
    90 ECTS
  • Languages
    • English
  • Delivery mode
    On Campus
Check Your Qualification.
  • The qualification check gives you an indication of your eligibility.
  • This personalized information will be visible for each programme result.

Academic Requirements

In order to be admitted to our Financial Engineering master program, the following requirements have to be fulfilled:

Appropriate qualification for university entrance
  • First degree: Bachelor, master, diploma... (University, University of Applied Sciences, Cooperative State University)

The first degree should be in:

  • Economics
  • Business informatics
  • Business mathematics
  • Industrial engineering
  • Physics

or a related subject.

  • Basic knowledge of one of the following fields is required:
  • Micro- and macroeconomics
  • Finance or internal and external accounting

In exceptional cases other degrees may be accepted (e.g., professional experience).

English Qualification
  • Evidence of an adequate knowledge of the English language is required
  • Usually in the form of a TOEFL (at least 90 points iBT) or an equal qualification which must be checked individually
For a program start in October 2017 applications need to be submitted as soon as possible. Especially if a visa is required please keep in mind that the visa process may take several weeks.

Work Experience

At least 2 year(s) of work experience are required.

  • Depending on the first degree´s level, work or 1 or 2 years of practical experience in the program subject area is required.
  • Three years of work experience are recommended. References are needed as evidence.

Tuition Fee Per Year

  • EUR 30000 International
  • EUR 30000 EU/EEA

The tuition fee for a Master of Science Program at the HECTOR School includes:

  • Tuition for all HECTOR School modules and supervision of the master's thesis
  • Course materials in a digital version
  • WLAN access to the KIT network and computer laboratories
  • Free usage of the KIT library
  • Free drinks & snack buffet during the lectures
  • Participation in social events during the HECTOR School modules

The following costs are not included:

  • Living expenses (food, clothes, and other everyday commodities)
  • Costs for accommodation in Karlsruhe (campus accommodation at the HECTOR School are available at special rates)
  • Travel to and back from Karlsruhe
  • Immatriculation fee of the Karlsruhe Institute of Technology (KIT) (approx. 150 EUR per semester)
  • Transport and Accommodation during international modules (if applicable)


Financial Support & Scholarships

Different options exist for financing the tuition fees for the HECTOR School.

Study Loan Partners

In case you need external founding support, the HECTOR School recommends the following fund organizations:

  • FESTO Bildungsfonds (education fund) offers financial support for special further qualification programs in close cooperation with industry. With "G-TOP" interested students are offered a package deal, which includes participation in the master program "Production and Operations Management", "Management of Product Development" or "Electronic Systems Engineering and Management", internships with network partners of FESTO Bildungsfonds and additional qualification courses by FESTO. The complete package is offered at a special rate which can by pre-financed through the FESTO Bildungsfonds. Interested participants need to apply with the HECTOR School and indicate theire interest in receiving funding by FESTO. The HECTOR School will then establish the necessary contacts. For further information, see the website of FESTO Bildungsfonds

  • For more than five years, the "Bildungsfonds" initiative has been offering bank-independent and socially acceptable ways to finance advanced education.
HECTOR School Cooperation Partnerships

On an irregular basis, the HECTOR School offers special partnership scholarships based on cooperation agreements. Unfortunately, no such scholarships are offered at the moment.

Official Scholarship Funds
  • African Development Bank
  • Alexander von Humboldt-Stiftung

    Baden-Württemberg Scholarship: The federal state supports international exchange with this scholarship.

  • Banco Interamericano de Desarollo
  • British Council:
  • Carl Duisberg Gesellschaft e.V.
  • Centre International des Etudiants et Stagiaires
  • Cusanus-Werk
  • DAAD
  • Deutsches Nationalkomitee des Lutherischen Weltbundes
  • The e8 Sustainable Energy Development Scholarship Programme. The e7 Network is an international non-profit organisation of leading electricity companies from the G8 nations dedicated to efficient and environmentally sound electricity generation methods as well as human capactiy building.
  • EED - Evangelischer Entwicklungs Dienst - Church Development Service. It is an organisation of the Protestant Churches in Germany.
  • European Development Fund
  • Evangelisches Studienwerk e.V.
  • Foundations Online
  • Friedrich Naumann Foundation
  • Friedrich-Ebert-Stiftung
  • Fritz Thyssen Stiftung
  • Fulbright-Kommission
  • Gottlieb Daimler- und Karl Benz-Stiftung
  • Hanns Seidel Foundation
  • Heinrich-Böll-Stiftung
  • International Education Financial Aid (IEFA)
  • IPSWaT - Programme of the BMBF - Bundesministerium für Bildung und Forschung/Federal Ministry of Education and Research
  • KAAD Katholischer Akademischer Ausländer-Dienst - Catholic Academic Exchange Service. Hausdorffstraße 151, D-53129 Bonn, Germany. For Catholics mainly from Ethiopia, Ghana, Kenya, Zimbabwe and also from Benin, Tanzania, Uganda, Zambia. Please send curriculum vitae, degree or professional diploma and academic transcripts, description of church-based social activities to: Dr. Thomas Scheidtweiler, address as above. On passing the first selection procedure you will receive the organisation's application documents. Submit these to your local or regional representation of KAAD who will inform about you further steps.
  • Konrad-Adenauer-Stiftung e.V. (KAS): Abt. Begabtenförderung, Rathausallee 12, D-53757 St. Augustin, Germany. For nationals from all countries. Applicants from Latin America, Asia and Africa are requested to apply at their respective local or regional KAS offices.
  • Minerva Foundation
  • Ökumenisches Studentenwerk (ÖSW): Girondelle 80, D-44799 Bochum, Germany. Phone +49 (0)234/93882-0. For Protestant applicants from developing countries. Please contact your local or regional representation of ÖSW. Stipulations: connection to a church-based organisation or NGO; firm intention of returning to home country after studies abroad.
  • Organization of American States (OAS), Washington, D.C. 20006, USA. Only applicable for candidates from OAS member states.
  • Otto Benecke Stiftung e.V.
  • Studienstiftung des Abgeordnetenhauses von Berlin
  • Südosteuropa-Gesellschaft - Southeast Europe Association
  • UNDP (United Nations Development Programme)
  • UNESCO (United Nations Educational, Scientific and Cultural Organisations)
  • Union der deutschen Akademien der Wissenschaften
  • VolkswagenStiftung
  • WHO (World Health Organisation):
  • World Bank . Please apply directly to them and to us.
  • World University Service
  • States, ministries, universities, churches and educational organisations in your home countries or here in Germany.

StudyPortals Tip: Students can search online for independent or external scholarships Students can that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

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