A former hedge funder is offering a free masters degree in a field that’s integral to Wall Street’s future.
Igor Tulchinsky, a former managing director at Millennium Partners, a New York-based hedge fund, founded WorldQuant University last year.
The program, which offers students a two-year education in financial engineering, now has about 600 students from over 35 countries.
Financial engineering draws from a number of fields including computer science, economics and mathematics. As such, the program’s Forbes. For instance, Bridgewater Associates, the world’s largest hedge fund, tapped Apple and Microsoft vets for their executive teams.
In order to fend off mounting losses, Paul Tudor Jones, another hedge fund, reportedly restructured its infrastructure with more technological and data driven trading capabilities.
A degree in financial engineering is a valuable asset on Wall Street.
Currently, financial engineering professionals are among the highest-paid workers on the Street. The average national salary for a financial engineer is a whopping $100,025 per year. Fannie Mae, Citadel, and PIMCO all have postings on the job search engine platform Glassdoor for financial engineers with salaries as high as $134,745 per year.