Are GRE and GMAT exams required for the quantitative finance programs you recommend in USA/Spain for a Master's?
It depends on the program. In the US, schools like Carnegie Mellon, UC Berkeley, and Princeton require GRE or GMAT scores, while Baruch College dropped the requirement entirely. In Spain, top business schools like IE usually require a test but often waive it for strong quantitative graduates.
Whether you need the GRE or GMAT for a quantitative finance or financial engineering master's depends entirely on the specific institution you choose, since these programs vary far more than general MBA courses. You should check each program's page individually rather than assuming one rule applies across the US or Spain. Your quantitative background can also change what a school expects from you.
GRE/GMAT Policy by Program
| Country | Program | Test Policy |
|---|---|---|
| USA | Carnegie Mellon MSCF, UC Berkeley MFE, Princeton MFin | Require GRE or GMAT, high quant percentile expected |
| USA | Baruch College MFE | Dropped the requirement, uses internal Quantitative Background Assessment |
| Spain | IE Business School Master in Finance | Usually requires GMAT, GRE, or a proprietary test |
| Spain | Carlos III de Madrid and similar universities | Often waives the test for strong quant graduates |
How Waivers Work
Many Spanish and European institutions will waive the GMAT or GRE requirement if you already hold a strong quantitative undergraduate degree in engineering, math, physics, or economics, or if you have credentials like CFA Level I or substantial analytical work experience. In the US, schools that still require the test focus heavily on your quantitative section percentile, often expecting the 90th percentile or higher, so your preparation should target that section specifically.
My Advice
I would suggest you make a shortlist of your target quant finance programs in the US and Spain, then verify each one's current test policy directly on its admissions page before you commit to GRE or GMAT preparation. If your undergraduate degree is heavily quantitative, ask the admissions office whether your transcript alone can support a waiver request.
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