Is the MSc Risk Management & Financial Engineering right for me?
MSc Risk Management & Financial Engineering is an intensive and highly quantitative programme, which attracts both recent graduates with an excellent academic background who want to launch their career in the finance sector, and those wishing to move into a career in risk management from other finance professions.
Admission to the MSc Risk Management & Financial Engineering programme is very competitive and the selection committee will pay close attention to all aspects of your application.
The entry requirements for MSc Risk Management & Financial Engineering are as follows:
To apply for MSc Risk Management & Financial Engineering you should have a First or Upper Second Class Honours undergraduate degree from a recognised university (or international equivalent) in a highly quantitative discipline such as:
Whilst there are no specific ‘A’ Level criteria, you should be aware that many banks and companies in the financial sector do have very strict grade requirements for their graduate programmes. We strongly recommend that you research the entry requirements of any companies you are interested in working for.
Prerequisite knowledge requirements
MSc Risk Management & Financial Engineering is a highly quantitative programme and therefore all students commencing the programme are expected to be proficient in probability, calculus, matrix algebra and real analysis.
You should use the ‘Quantitative Experience Statement’ on the application form to list the most advanced quantitative courses that you have taken in your academic career to date and to provide brief examples of the relevant topics covered by the programme.
Complete our online Maths test to determine if you are suitable to apply for the programme.
GMAT is not required, but a well-balanced GMAT result with 650 or higher overall and 48/60 or better in the quantitative section will add weight to your application. If you have taken the GRE test, a score of 159 in the quantitative section of GRE will add weight to your application.
An understanding of the financial sector and well researched career goals are essential and should be demonstrated through your answers to the career planning questions in the application form.
Career planning questions
In the career planning questions you will need to show you have thought about the type of employer you want to work for immediately after graduating and have researched your target organisation(s) and role. You will also need to answer the following questions to demonstrate awareness of what is required and the steps you will take to prepare for your chosen career.
- How will your chosen programme help you reach your career goal?
- Do you see any barriers that you may need to overcome to reach this goal (personally, professionally, or academically)?
- What gaps in your skillset will you need to develop to prepare for this career?
Internships and work experience
Work experience is not a requirement, although undertaking relevant internships and work placements and listing them in the ‘Industrial/Professional Experience’ section of your application form will add weight to your application.
Although there is not a strict limit on the amount of work experience that is accepted for the programme, candidates with more than three years of professional experience may wish to consider our Imperial MBA programme which offers core courses in the fundamental areas of business and the option to select a range of finance elective courses.
All programmes at Imperial College Business School are linguistically demanding, and therefore strong English language skills are critical to academic success on your MSc and in your future career. The English language entry requirements listed here are the minimum scores needed for admission, successful students typically demonstrate higher levels of achievement.
Candidates who are required to take an English test to meet the language requirement are strongly encouraged to take this before applying and supply their scores as part of the online application. A strong result in an approved English language test will add weight to your application.
A full list of acceptable English language qualifications and our required scores can be found on our detailed English language requirement page.
Most applicants meet the requirement in one of the following ways:
- IELTS (academic): A minimum score of 7.0 with minimum scores of 6.5 in all elements. The IELTS indicator test will be accepted for admissions to the 2021/22 academic year.
- TOEFL iBT: A minimum score of 100 overall with minimum scores of 22 in all elements. The ETS at Home test will be accepted for admission to the 2021/22 academic year.
- Duolingo English Test: 125 Overall with no less than 115 in any band score.
- Degree studied in and awarded by an English-speaking country AND successful performance in an English language interview, conducted by the Business School’s Global Skills Consultants, which would be arranged if you receive an offer.
- IELTS, TOEFL and Duolingo scores are only valid if they are less than two years old on the programme start date.
- TOEFL: You must meet the entry requirement in one test from your scaled scores (‘My Best Scores’ reported by TOEFL will not be considered). For more information regarding TOEFL please visit the ETS website. Please note if you would like ETS to send your TOEFL scores directly to the College, our TOEFL Institution Code is 0891.
- The College defines English-speaking countries as: Australia, Canada, Guyana, Ireland, New Zealand, South Africa, United Kingdom, United States of America and West Indies. Holders of degrees from any other countries would not be considered for an interview.