Master of Mathematical Finance at Illinois Institute Of Technology [ILLINOIS TECH], Chicago Fees, Entry Requirement & Application Deadline

Master of Mathematical Finance From Illinois Institute of Technology

Chicago, IllinoisLocation
UniversitySchool type
Estd1890established year
7164enrollment
Private (Not for Profit)
7.4/10

Master of Mathematical Finance

2 years
Full Time
On Campus

Field of Study

$53,400 /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.

Important Dates

EventApplication Date
Application Deadline For Fall 2024 Intake Jun 15, 2024
Application Deadline For Spring 2025 Intake Nov 15, 2024
Application Deadline For Summer 2025 Intake Mar 15, 2025

Tuition Fees

Year1st Year Fees
Tuition Fees$53400

Other Expenses

HeadAvg Cost Per Year
Living Expenses$14550
Health Insurance$2286
Books and supply$930
Miscellaneous expenses$4500
Total Cost$22266

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

6.5 / 9

Avg. Score in

IELTS

90 / 120

Avg. Score in

TOEFL

304 / 340

Avg. Score in

GRE

63 / 90

Avg. Score in

PTE

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.

Ranking

2023

Times Higher Education logo
Finance 401 out of 1501 in Global Ranking
( #52 out of 161 in USA 2023)

Similar Programs

ProgramImportant DateTotal FeesMedian Exams ScoreAction
Application Deadline For Fall 2024 Intake (15th Jun 2024)
Application Deadline For Spring 2025 Intake (15th Nov 2024)
Application Deadline For Summer 2025 Intake (15th Mar 2025)
USD 53,400 /Yr
  • IELTS: 7
  • TOEFL: 85
  • GRE: 298
  • GMAT: 600
USD 31,800 /Yr
  • IELTS: 6.5
  • TOEFL: 80
  • PTE: 54
  • GRE: 318
Round 1 Application Deadline For Spring Intake (15th Oct 2024)
Round 1 Application Deadline For Fall Intake (15th Nov 2024)
Round 2 Application Deadline For Spring Intake (15th Nov 2024)
Round 2 Application Deadline For Fall Intake (15th Jan 2025)
Round 3 Application Deadline For Fall Intake (15th Mar 2025)
Round 4 Application Deadline For Fall Intake (15th May 2025)
Round 5 Application Deadline For Fall Intake (15th Jun 2025)
USD 29,140 /Yr
  • IELTS: 6.5
  • TOEFL: 90
  • PTE: 61
  • GMAT: 650
Application Deadline For Spring Intake (1st Nov 2024)
Application Deadline For Fall Intake (1st Jun 2025)
USD 15,480 /Yr
  • IELTS: 6.5
  • TOEFL: 79
  • PTE: 52
  • Duolingo: 105
Application Deadline For Spring 2024 (1st Oct 2024)
Application Deadline For Fall 2025 (1st May 2025)
USD 38,370 /Yr
  • TOEFL: 80
  • IELTS: 6.5
  • PTE: 53

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

NameScholarship Per StudentLevel of StudyType
National Overseas ScholarshipScholarship per student$ 15,400/Yr$15,400Level Of StudyDoctorateTypeNeed-Based
FINCAD Women in Finance ScholarshipScholarship per student$ 20,000/Yr$20,000Level Of StudyMasterTypeMerit-Based
WHO InternshipScholarship per studentVariable AmountLevel Of StudyBachelorTypeCompany-Sponsored
BrokerFish International Student ScholarshipScholarship per student$ 1,000/Yr$1,000Level Of StudyBachelorTypeMerit-Based
Narotam Sekhsaria ScholarshipsScholarship per studentVariable AmountLevel Of StudyMasterTypeMerit-Based
Arkansas ScholarshipsScholarship per studentVariable AmountLevel Of StudyBachelorTypeCollege-Specific


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