$29,628/Yr
$29,628 /Yr
- 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.
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Important Dates
| Event | Application Date |
|---|---|
| Priority Application Deadline For Fall Intake | |
| Priority Application Deadline For Summer Intake | |
| Final Application Deadline For Summer Intake | |
| Final Application Deadline For Fall Intake | |
Tuition Fees
| Year | 1st Year Fees |
|---|---|
| Tuition Fees | $29628 (USD 29628) |
Other Expenses
| Head | Avg Cost Per Year |
|---|---|
| Living Expenses | $14550 (USD 14550) |
| Books and supply | $900 (USD 900) |
| Compulsory Fees | $1920 (USD 1920) |
| Total Cost | $17370 (USD 17370) |
Eligibility & Entry Requirement
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.
Scores Required
3 / 4
Minimum gpa
GPA
Required Document List
The followings documents are required:
- A two-page professional statement of goals and objectives, and a curriculum vitae, must be submitted.
- Two letters of recommendation are required, and at least one must be from academia.
- An interview may also be required.
- Typically, admitted students score at least 156 on the quantitative portion of the GRE and at least 3.0 on the analytical writing portion.
Course Guides
Masters (MS) in USA: Colleges, Courses, Deadlines, Eligibility & Fees
Masters in Finance in USA: Top Colleges, Fees, Funding, Jobs, Scholarships
MBA in Finance in USA: Top Colleges, Cost, Admission Requirements, Scholarships, Scope
Career and Placement after Course
Master of Mathematical Finance alumni are employed by CME Group, Citigroup, Discover Financial Services, Envestnet, Goldman Sachs, Intercontinental Exchange, JPMorgan Chase & Co., Morgan Stanley, OCC, PrivateMetrics Group, and Quantitative Risk Management, Inc. (QRM).
- Quantitative trader
- Quantitative analyst
- Quantitative modeler
- Quantitative software developer
Scholarship Grants & Financial Aids
| Name | Scholarship Per Student | Level of Study | Type | |
|---|---|---|---|---|
| Joint Japan/World Bank Graduate Scholarship Program | Scholarship per studentVariable Amount | Level Of StudyMaster | TypeMerit-Based | |
| Bharat Petroleum Scholarship 2020 | Scholarship per studentVariable Amount | Level Of StudyMaster | TypeMerit-Based | |
| YouAreWelcomeHere Scholarships | Scholarship per studentVariable Amount | Level Of StudyApprenticeship | TypeTuition-Fee-Waiver | |
| Innovation in Education Scholarship - La Tutors 123 | Scholarship per student$ 500/Yr$500 | Level Of StudyBachelor | TypeMerit-Based | |
| (ISC)² Women’s Cybersecurity Scholarships | Scholarship per studentVariable Amount | Level Of StudyBachelor | TypeMerit-Based | |
| Comindware Scholarship | Scholarship per student$ 4,000/Yr$4,000 | Level Of StudyApprenticeship | TypeMerit-Based |
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