$32,448 /Yr
On-campus
full_time
Master of Mathematical Finance
- The program is ranked 15th on the list of top Master’s of Financial Engineering program by TFE Times (2019).
- The program ranked 21st in QuantNet's Best Financial Engineering Programs (2018).
- The program is offered jointly by the Department of Applied Mathematics in the College of Science and the Stuart School of Business.
- The program offers advanced education in theoretical, computational and business aspects of relevant quantitative methodologies.
- The graduate may pursue a career as a junior quantitative analyst (quant) with financial institutions such as banks, trading corporations or hedge funds.
- Students will study subjects such as Futures, Options, and OTC Derivatives or Models for Derivatives, Computational Finance, Stochastic Processes, Mathematical Finance, etc.
- The MMF program provides individuals interested in pursuing careers in financial risk management with advanced education in theoretical, computational, and business aspects of quantitative methodologies relevant to the financial industry.
- MMF alumni are employed by such companies as CME Group, Citigroup, Discover Financial Services, Envestnet, Goldman Sachs, Intercontinental Exchange (ICE), JPMorgan Chase & Co., Morgan Stanley, OCC, PrivateMetrics Group, and Quantitative Risk Management, Inc. (QRM).
- The MMF program at Illinois Tech offers an ideal balance of theoretical knowledge and practical application.
- Students have the opportunity to learn from the professors affiliated with the Department of Applied Mathematics and with the Stuart School of Business, as well as from adjunct professors who are financial practitioners providing practical insight into fixed income modeling and practice, computational methods in quantitative finance, trading strategies, and more.
Tution & Application Fees
| Year | Year 1 | Year 2 |
| Tuition Fees | $29628 | $29628 |
| Books and supply | $900 | $900 |
| Compulsory Fees | $1920 | $1920 |
| Total Fees | $32448 | $32448 |
Examinations
| Exam Type | Exam Name | Score | Out of Score | Exam Level |
|---|---|---|---|---|
| IELTS | International English Language Testing System | 6.5 | 9 | 3 |
| TOEFL | Test of English as a Foreign Language | 90 | 120 | 3 |
| GRE | Graduate Record Examination | 304 | 340 | 2 |
| PTE | Pearson Test of English | 63 | 90 | 3 |
Academic Eligibility:
- Applicants should hold a bachelor’s degree, or its equivalent, from a recognized university.
- The cumulative undergraduate grade-point average of 3.0/4.0 or higher
- Students must be qualified in IELTS or TOEFL to get admission to this program.
- Students are required to have a background in undergraduate-level probability theory, multivariate calculus, and linear algebra. A background in ordinary differential equations will enhance the chance of admission to the program.
- Submission of GRE or GMAT score is not required for all master’s programs for 2021.
Indian Student Eligibility:
Indian students are eligible to apply if they meet one of the following eligibility criteria:
- Completed a 4-year UG degree with first class in a relevant field from a recognized institution.
- Completed a master’s degree with first-class in a relevant field from a recognized institution.