Wharton School at the University of Pennsylvania is launching its first new degree in 50 years – a master’s in quantitative finance – funded by a record $60m gift from Bruce Jacobs, co-founder of Jacobs Levy Equity Management, according to a report by Bloomberg.
The donation is the largest single contribution in Wharton’s history, with the one-year programme, which is set to begin in autumn 2026, aiming to bridge the gap between academic theory and real-world trading. Citadel, Millennium, and Susquehanna — leading quant and systematic trading firms — will serve on the advisory board, helping coordinate a final-semester research project that provides direct exposure to the hedge fund and trading environment.
Jacobs, a Wharton PhD and finance academic, said the programme is designed to prepare students for the growing complexity of markets, with a focus on algorithmic trading, artificial intelligence, and quantitative strategies.
Initially 40 undergraduates from UPenn will be admitted, with plans to expand to 60, with teh programme also including a rigorous maths and data-driven curriculum. Applicants will be asked to submit a 300-word essay outlining a market problem and their proposed solution.
