General
What is the difference between MFE and other Program, e.g., MBA and MQF?
The MFE is a graduate degree in a highly specialized area of finance, offered by NUS Risk Management Institute (RMI), an independent University level research institute. This enables us to garner high quality resources and engage the best lecturers from within NUS departments as well as experts from the industry for our students.
The MFE is a cohesive program that places an emphasis on Mathematics, Finance, and Computing, which provides our students with a combination of skills (understanding of complex financial strategies, financial modeling ability and computational proficiency) that are highly sought after by employers within the financial sector. In contrast, other programs may be generally more heavily focused either on management, or mathematics/statistics.
What is the intake for each cohort? What is the ratio of Part-time to Full-time students?
Please refer to our webpage on student profiles for more details on average class size, full-time to part-time ratios and other statistics.
Admission Requirements
I do not have a finance background. My major was in Engineering / Economics / Law, will this affect my chances of acceptance?
We do not have any restrictions on your academic background. You are welcome to apply.
Do you require the Graduate Management Admissions Test (GMAT) or Graduate Record Examinations (GRE)?
Submission of results from the Graduate Management Admissions Test (GMAT) or Graduate Record Examinations (GRE) with their application for admission, is optional for MFE applicants. Applicants may schedule to take the test at computer testing sites in most countries. As soon as the GMAT is completed, an "unofficial" score will be provided. Applicants may send a copy of this score with their application first. The official score from ETS must be sent to NUS RMI within one month after the closing date. Information about the GMAT is available online at www.gmat.org Information about the GRE is available at www.gre.org
Will it affect my application if I do not have GMAT or GRE results?
Since 2019, GMAT and GRE are no longer compulsory to your application. You may choose to provide your GMAT/GRE results if you feel necessary.
Is the TOEFL/ IELTS required?
Applicants whose medium of undergraduate instruction is not English are required to submit TOEFL/IELTS.
TOEFL & IELTS test scores are valid for 2 years from the test dates. Scores that have expired by the application closing date will not be accepted.
Both TOEFL (home edition) & IELTS (home edition) are NOT acceptable.
What are the TOELF/IELTS waiver conditions?
To qualify for the waiver, applicants should provide evidence that English was the medium of instruction, as stated on their academic transcript, degree certificate or an official university webpage. If this is not stated in these documents, applicants may be required to submit an official Medium of Instruction (MOI) letter issued by their university.
Do you interview candidates?
In certain cases, a phone interview may be required to ascertain the suitability of candidates. Applicants will be given notice before the interview.
Can I speak to an admissions counselor? How do I find out if I am qualified?
We are unable to evaluate your qualifications before you apply. The evaluation process looks at an individual candidate’s entire application, and compares that profile against the larger applicant pool. Therefore, it is not possible for us to tell you in advance your chances of admission.
Do I need to have work experience to be considered for admission?
We welcome applications from candidates with several years of work experience. However, work experience is not a requirement.
Completing Your Application
I can't get an official transcript by the deadline. What should I do?
You may submit an unofficial transcript with your online application and updates us with your official transcript as soon as possible.
When is the application deadline?
Please refer to the application dates in Admission for more details.
Can I apply online?
Yes, online application for the MFE program is available and preferred. Please visit the application page at Application for more details. Please read the application guidelines carefully before you proceed.
Do I need to submit hardcopy documents at the time of application?
To submit your application for the NUS MFE program, you need to submit the online applicaiton and upload all the necessary documents as per the checklist into the GDA system. Hardcopy documents to be mailed in only upon receipt of verbal offer.
How do I submit additional documents for my applications if I had already made an application online?
You may email the additional documents to us at mfe@nus.edu.sg. You do not need to resubmit a new application.
The status of my application in the GDA system still shows 'submitted online'. Is my applicaiton being reviewed?
Rest assured, every application successfully submitted online is reviewed thoroughly. Kindly note that the application status online is not updated in real-time.
Can I submit one application to be considered for both the August and January intakes?
No, each application intake is separate.
Program Modes
Does the program offer part-time study?
Yes, the MFE Program offers both Full-Time and Part-Time study modes.
Can I attend the part-time on-campus mode if I'm a foreigner?
The part-time on-campus mode is open to foreigners with a valid work pass or a dependant pass. If you are an international applicant currently based overseas, in order to get a visa to stay in Singapore you will need to apply for the full-time mode with Student’s Pass.
Can the January intake full-time student opt not to follow the prescribed study plan?
The (new) January intake follows the existing Double Degree Program course schedule; therefore, they must follow the prescribed study plan.
After Selections Have Been Made
How does the university communicate the admission decisions to applicants?
Do note that our admission is conducted on a rolling basis and there are batches of offers to be extended at various points of time. Your admission decision will be emailed to the address provided in your application and all applicants will be notified via email sometime by June.
Please note that the online checklist in the GDA is for administrative purposes only and is not updated in real-time.
When will the first batch of offers be sent?
The earliest offers will be sent out in August of the preceding year of intake.
I have applied for the MFE programme in November. Will I receive a result in January?
For applications made in November, you should hear from us by January if you are shortlisted in the first round. However, admission is done on a rolling basis in several rounds, it does not mean that you are not selected if you do not hear from us in January. We will be able to give you an official notification by June.
After receiving the offer, how much time do I have to make a decision on the offer?
You need to respond in two weeks from the date of offer. If you accept, you will need to pay the acceptance fee of S$12,000 to secure the place. This S$12,000 will be offset from the total tuition fees.
What is your policy on deferred admission?
We encourage candidates to apply for the year in which they wish to enroll. We realize, however, that unforeseen circumstances may prevent an admitted candidate from enrolling in that year. If, after being accepted to the MFE program, you have compelling reasons for deferring admission, you may request a deferral by writing to the Program Director. Deferment is granted for up to one year, if approved.
Do I need to prepare by taking courses before the academic year begins?
The required core curriculum assumes no prior knowledge of finance. However, the core courses do require a comfort with, and facility for, quantitative concepts as well as basic skills using a computer spreadsheet program. If you do not have a strong quantitative background and basic computer facility, you may wish to take a calculus or statistics course before you enroll. There will usually be a bridging program conducted before Semester 1 begins relating to calculus and programming.
If I apply for this year but am not accepted for this intake, will I stand a better chance of getting in next year than those who apply then?
You will have to compete with the rest of the candidates who apply next year on an equal basis.
Tuition Fees, Scholarships and Loans
Are there additional fees for foreigners?
Foreigners do not need to pay an additional fee as compared to Singaporeans and Singapore permanent residents. Please visit the admission page here for latest updates on tuition fees.
Are there any MOE subsidies for this MFE programme?
This Masters programme is not subsidized by MOE. The school fees are the same for all nationalities. Please visit the admission page here for latest updates on tuition fees.
Are there scholarships available? How do I apply for scholarships?
Yes, please visit the scholarship and financial aid webpage here for the latest updates. You do not need to apply for scholarship separately. We consider all students’ application packages as part of our scholarship selection process.
What are the eligibility criteria for scholarships?
We will interview eligible students and offer scholarships to deserving students with all-rounded excellence. The scholarship will be offered along with the admission letter.
Are international students eligible for scholarships?
Yes. International students are eligible.
Are there education loans available to students?
Several Singapore based banks have granted education loans to students. Terms and conditions vary among the banks. Please contact the banks for further details. Students who are admitted to our program will not be eligible for the Tuition Fee Loan, a Singapore-government funded education loan scheme.
What are the tuition fees for AY2024/2025 and AY2025/2026?
AY2024/2025 Tuition Fees
|
Due On or Before |
Mode of Study |
||||
|
Full-Time |
Part-Time/ Distance Learning |
||||
|
1 |
Application Fee*: |
S$100 |
S$100 |
||
|
Tuition fees |
MSF1 |
Tuition |
MSF1 |
||
|
fees |
|||||
|
2 |
At point of accepting offer |
S$12,000 |
N.A. |
S$12,000 |
N.A. |
|
(Admission fees*) |
|||||
|
3 |
1st Semester |
S$24,000 |
Inclusive |
S$8,500 |
Inclusive |
|
4 |
2nd Semester |
S$26,000 |
Inclusive |
S$13,500 |
Inclusive |
|
5 |
3rd Semester |
-- |
S$320.00 |
S$13,500 |
Inclusive |
|
6 |
4th Semester |
-- |
S$320.00 |
S$12,500 |
Inclusive |
|
7 |
5th Semester |
N.A. |
N.A. |
-- |
S$137.50 |
|
TOTAL |
S$60,000 (inclusive of GST) |
S$60,000 (inclusive of GST) |
|||
AY2025/2026 Tuition Fees
|
Due On or Before |
Mode of Study |
||||
|
Full-Time |
Part-Time/ Distance Learning |
||||
|
1 |
Application Fee*: |
S$100 |
S$100 |
||
|
Tuition fees |
MSF1 |
Tuition |
MSF1 |
||
|
fees |
|||||
|
2 |
At point of accepting offer |
S$12,000 |
N.A. |
S$12,000 |
N.A. |
|
(Admission fees*) |
|||||
|
3 |
1st Semester |
S$24,000 |
Inclusive |
S$9,500 |
Inclusive |
|
4 |
2nd Semester |
S$28,000 |
Inclusive |
S$14,500 |
Inclusive |
|
5 |
3rd Semester |
-- |
S$335.00 |
S$14,500 |
Inclusive |
|
6 |
4th Semester |
-- |
S$335.00 |
S$13,500 |
Inclusive |
|
7 |
5th Semester |
N.A. |
N.A. |
-- |
S$137.50 |
|
TOTAL |
S$64,000 (inclusive of GST) |
S$64,000 (inclusive of GST) |
|||
Classes
How are classes conducted?
Classes are conducted either in lecture style or work groups, depending on the teaching style of the lecturer. Under pandemic situations, the classes are conducted online.
Why is Octave taught even though it is no longer commonly used in the industry these days?
Octave is not a main component to our course, it is a platform for one of our core courses; Programming and Numerical Methods. Most of our courses use Matlab, C++ and Python as the main programming language. C++ will be taught in the C++ in Financial Engineering course, while Python will be used in the Machine Learning course.
Are part-time and full-time students grouped together in the same class?
Yes. Part-time and full-time students go for the same classes. This creates networking opportunities and students can understand more about the industry through their part-time counterparts. Classes are conducted in the evenings or on Saturdays to accommodate everyone’s schedule.
Are MFE Classes conducted in-person or online?
Currently, all MFE classes are conducted in-person on campus. If there are any exceptions students will be notified separately.
What are the courses that will be taught in the upcoming semester?
A list of courses are available on our website at https://rmi.nus.edu.sg/mfe-program/curriculum/. There are also cross-faculty courses which are not listed as they are updated on a termly basis.
Can an MFE student apply for overseas exchange programmes during semester breaks?
The MFE programme has a special course overseas at Oxford University in July every year. Our students seeking an overseas experience may sign up for it. This course is currently conducted online due to travel restrictions.
How long does it take to complete the MFE course?
Full-time students can complete the MFE course within 1 year, even though the recommended study plan is 1.5 years.
Employment After Graduation
How successful are MFE students in finding employment after graduation?
Our MFE program is well recognized by the finance industry. Our graduates have made a significant impact in this area locally and internationally. Based on recent years' records, the majority of our students can find relevant jobs even before their graduation.
Does the university provide placement services to the students?
NUS has a dedicated career centre for all NUS graduates called the Centre for Future-ready Graduates (CFG). They organised recruitment talks, workshops, networking events and career fairs throughout the year. Students can refer to the NUS Career Portal for job opportunities (including internships, full-time, part-time, and contract roles). CFG also conduct workshops to equip students with skills to enhance their employability and to thrive in their future careers.
In addition, RMI organises its own activities to provide additional support for MFE students, including access to curated internship/full-time job opportunities, networking, and career advisory.
What is the average starting salary for an MFE graduate?
Based on our survey results, our MFE graduates’ starting salary belong to the top quartile of all NUS graduates.
How many students take up an internship before they graduate?
Almost 100% of our students have completed an internship before they graduate.
Can a foreign student remain in Singapore upon graduation?
After graduation, foreign students may apply to the Immigration & Checkpoints Authority (ICA) for a Long-Term Visit Pass (LTVP), which allows them to stay in Singapore for up to one year while seeking employment.