I personally did some research this year, because I myself applied for a Masters in Finance. Most of the programs that I've checked out (US, Western Europe and Australia) either accept only the GMAT or accept both the GRE and the GMAT. However, this might not be the case for all programs - you need to check out school websites regarding this info!

I'm saying this because a person I know applied to a Masters in Frankurt (I think) that only accepts GRE scores.

My take is always give GMAT if u plan to major in finance at the end of the day.

reason 1 : GMAT opens up 2 doors globally. One for MBA and for MFE

reason 2: if u r frm India u can use GMAT in ISB for MBA which is certainly gud enuf to get job in finance domain

reason 3: If u r so keen in MFE..i guess MBA+MFE will be the best combo....then again its upto u if u can ionvest that much time & money

But in all cases u need stellar score in GRE /GMAT to think of MFE/MBA in any Ivey schools r Indian schools.

Ajay , hope u know its tuf to get in to ISB than in to anyother US -Tier I B school apart from their Ivey schools..

SO push urself for GMAt than GRE..

It has been always tuf if u have choices..so dont think abt them..

Now that u have cometo the right place..Beat the GMAT & u r so lucky& it'sauspicious that u got DanaJ to answer ur answer..that's something very true...So start Prepping now itself for GMAT.

With financial engineering programs, the only top programs in the US that accept the GMAT are Tepper, UCLA, Barauch, and Boston University.

Thanks. I also got info from some of my friends that GRE is required for many school offering Masters in Financial Engineering vis-a-vis GMAT for MSF....

Regards,
Ajay