12 months
29628 USD/year
29628 USD/year
Tuition fee
Apply date
Start date


The Master of Mathematical Finance program at Illinois Institute of Technology is a professional (non-thesis) interdisciplinary program offered jointly by the Department of Applied Mathematics in the College of Science and the Stuart School of Business.


Chicago is a vibrant, global hub for the financial community. It is home to prominent financial exchanges as well as some of the nation’s major banks, hedge funds, investment firms, and insurance companies. Research and internship experiences, as well as future employment opportunities, are enriched by the resources available in Chicago.

Program Overview

The program at the Illinois Institute of Technology strikes a balance of theoretical knowledge and practical application. Learn from applied math and business professors, as well as financial practitioners with insight into fixed income modeling and practice, computational methods, and trading strategies.

Career Opportunities

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


The Master of Mathematical Finance program is nationally ranked at #25 by Quantnet and at #23 by The Financial Engineer.

Programme Structure

Courses included:

  • Futures, Options and OTC Derivatives
  • Computational Finance
  • C++ with Financial Applications
  • Stochastic Processes
  • Mathematical Finance
  • Monte Carlo Methods in Finance
  • Theory and Practice of Fixed Income Modeling

Key information


  • Full-time
    • 12 months

Start dates & application deadlines


30 alternative credits


On Campus

Academic requirements

GPA admission requirements GPA
GRE admission requirements GRE®
GMAT admission requirements GMAT

Other requirements

General requirements

  • Admission requires a bachelor’s degree in a quantitative discipline such as mathematics, quantitative finance, engineering, or statistics with a minimum cumulative GPA of 3.0/4.0.
  • Applicants must have a background in undergraduate-level probability theory, multivariate calculus, and linear algebra. Background in ordinary differential equations will enhance the chance of admission to the program.
  • If required, TOEFL scores should be a minimum of 90/250 (internet-based/computer-based test score), or the IELTS score should be a minimum of 6.5.
  • 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.

Tuition Fee

To alway see correct tuition fees
  • International

    29628 USD/year
    Tuition Fee
    Based on the tuition of 29628 USD per year during 12 months.
  • National

    29628 USD/year
    Tuition Fee
    Based on the tuition of 29628 USD per year during 12 months.

Living costs for Chicago

1297 - 2491 USD /month
Living costs

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.


Studyportals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

Our partners

Mathematical Finance
Illinois Institute of Technology


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