M.A.S in Mathematical Finance

Illinois Institute of Technology

Chicago, Illinois, USA
M.A.S in Mathematical Finance
Duration1.5-2 Years
LevelMasters Program
  • 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.
Fees componentsAmount
Tuition & fees2381472 INR
Hostel & Meals1065642 INR
Insurance123556 INR
Transportation168452 INR
Activity Fee18310 INR
Student Service Fee65184 INR
New Student Fee21972 INR
Books and Supplies65916 INR
Miscellaneous249016 INR
Professional Co-Curricular Fee18310 INR
Total1796358 INR

Entry Criteria

Class 12thNo specific cutoff mentioned
Bachelors3.0 GPA
  • Applicant must hold a bachelor's degree in mathematics, engineering, or equivalent completed prior to enrollment with a minimum GPA of 3.0/4.0
  • Applicants 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
ExamsTOEFL: 90

IELTS: 6.5
  • With a minimum section score of 6.5

PTE: 63
  • With a minimum section score of 53

GRE: 310
  • Typically, admitted students score at least 156 on the quantitative portion of the GRE and at least 3.0 on the analytical writing portion.

Additional info
  • During the admission process, Illinois Tech waives TOEFL or IELTS requirements if the applicants:
    • first or native language is English
    • have received a degree from an English-speaking institution and have attended that school for at least two years
    • school’s official medium of instruction is in English, per transcript
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