Financial Engineering is the modern multidisciplinary field that combines mathematical financial tactics with computational finance. Financial engineering covers all the aspects of finances and uses all the finance-related disciplines to make one jack of all trades. It provides one expertise in the finance sector. An aspirant doing financial engineering uses various disciplines like applied mathematics, statistics, economic theories, computer science, etc to determine the scope, flaws potential, and risks in a financial proposal or an investment opportunity.
This article covers all the aspects of financial engineering while highlighting what is the career scope post the completion of a master’s in Financial Engineering in Singapore.
What is Financial Engineering?
Financial Engineering is the application of mathematical models to understand the prospect of an investment opportunity and make financial decisions. Financial Engineering uses modern and contemporary computation tools to determine savings, lending risks, managing risks, threats, forecasts, return on investment, and much more. The strings of financial engineering overlap with various segments of finance such as derivative pricing, risk management, investment management, financial regulation, portfolio management, corporate finance, trading, and much more.
Financial Engineering Career Overview
Financial Engineers are experts with immense knowledge of financial theories and financial models. They use the right combination of programming and engineering models, finance theories, applied mathematics, and computer science to devise data-backed researched financial models. A professional with a master’s in Finance engineering from Singapore is hired by multinational companies and investment companies to meticulously manage and improve the quality of their investments.
The financial engineer must be agile and have great knowledge of global finance. The engineer must be able to forecast market trends, study market performances, and plan future investments.
Skills needed to thrive in financial engineering
To be a successful financial engineer, an aspirant must have completed the master’s in Finance engineering in Singapore from a reputed and recognized institute. The academic performance of the candidate plays a very crucial role while analyzing a candidate’s potential however, apart from academic qualification the aspirant must possess some quantitative qualities such as logical reasoning, knowledge of financial theories, critical thinking, strategic planning, problem-solving, analytical skills and much more. The engineer must have optimum knowledge of computer programming, artificial intelligence, computation tools, algorithms, etc. An experience of languages like Python, Java, Scala, C++ is mandatory for a financial engineer.
Financial Engineering Salary
The salary of a financial engineer depends upon their education, qualification, experience, and skill set. A professional degree such as a master’s in financial engineering from a leading institute in Singapore can fetch you a good salary scale in the market provided if you fulfill all the criteria of the employers. The majority of the financial engineers start their careers in financial risk management as financial analysts and then move on to other positions such as investment manager, portfolio manager, etc. The salary scale of financial engineers depends upon the performance, growth, and potential of the professional.
Financial Engineering is one of the best career options with great potential demand and growth in the global finance market. If you are interested in financial engineering opt for a master’s in financial engineering in Singapore to give your career a good take-off.