Hello all, I’m 24 and I’ll have an MBA in one year and hopefully I’ll be completed with the CFA program at summer’s end. Im considering the possibility after im finished with MBA of pursuing some part-time studies in Financial Mathematics. But I know nothing about it. I took a semester of Calculus as an undergrad and that’s as far as I’ve taken math. Can anyone advise me here? What type of prerequisite knowledge would be needed to enter such a program? I feel this knowledge would be helpful in a hedge fund, quantitative trading firm, derivatives trading, as well as in risk management. I’d appreciate any advise
Cal 1-3 Linear Algebra Ordinary Differential Equations / Partial Differential Equations Probability C++ programming Numerical Methods class Enjoy! 
I’m not sure that sort of knowledge would be helpful to you unless you want to become a full blown quant. With your background in mathematics, I don’t think that is likely. You’d probably be better off looking at some more general finance options. If you do want to pursue a masters course in financial mathematics, I think you would need to take a one year diploma course first to build up your background knowledge in the areas Keys has highlighted.
Real analysis and random processes are also helpful.
Sounds like you should concentrate on getting a job that fits your current qualifications, and then see what options are convenient for you. Financial math is pretty useful, but at the moment, it looks like your competitive advantage lies elsewhere.
With your math background you will not get into a good financial math program, even part-time. If you’re really passionate about it, you’ll need to study up on the subjects above.
MFE programs (which I assume is what you are talking about) are geared towards people who did undergrad degrees in Math, Physics and Engineering. As such, basic knowledge of real analysis, complex analysis, ODEs, stats/probability and linear algebra is assumed, as well as at least some background in programming. IMO, the real hurdle for you among all these topics is going to be real analysis, which is far beyond the typical 3-to-4 semester undergraduate calculus sequence. Contrary to what someone said above, you don’t need PDEs going in; you will learn that once you get started. Same for numerical analysis, though you will be at a significant disadvantage if you don’t have at least basic C++ skills going in. My advice: look at some of the “classic” books in the field (e.g. Rennie/Baxter, Shreve, Joshi, etc.) and see how comfortable you feel with it and even how interested you are. You should get a pretty good sense fairly quickly. Also, FWIW, based on the experience of my acquaintances, the MFE isn’t that useful for getting a position in mathematical finance; those jobs almost always require PhDs. The MFE seems to be a route straight to the middle office (risk management), which is a destination that can be reached much more efficiently if that is the goal.
Thanks for the advice. I agree with you Ohai. With one year left of business school, my number one concern is finding a job in this tough economy. I just felt i had a deficit of knowledge in financial mathematics/ math in general, and down the road it was something I wanted to beef up to expand my opportunity space. Believe me, I’m not anxious to embark on any new academic endeavors after the freight train of education I’ve been on the last 6 years (BS, CFA, MBA). If i can find something I’m qualified to do, pays well, and that I enjoy I’m inclined to reaping what I’ve sowed all these years. Thanks again everyone.