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Master of Science in Finance

Study finance in the center of Chicago’s global financial markets at Illinois Institute of Technology.

Enter the world of finance with your Master of Science in Finance degree.

Finance is a globally connected industry that is constantly changing. The 2008 United States financial crisis caught many investors and homeowners off guard. The drastic ups and downs of cryptocurrency would have been unthinkable a few years ago. And the 2022–23 inflation rate levels haven’t been experienced in decades.

Successful finance experts need to understand how the industry’s key players—commercial and investment banks, investment management companies, hedge funds, private equity firms, and regulatory agencies—operate, thrive, and even fail. A Master of Science in Finance degree can help you understand and succeed, even in volatile financial conditions.

At Illinois Institute of Technology’s Stuart School of Business, you’ll study in a nationally ranked M.S. in finance program that is located in Chicago—home to the world’s largest markets in financial derivatives.

In your M.S.F. courses, you’ll learn the latest industry-relevant concepts and technologies from finance professors who are both practitioners and scholars, bringing their career knowledge and understanding of the markets directly to the classroom.

Through our M.S. in finance program, you’ll leverage our partnerships with alumni and other leaders in the finance industry. You’ll gain valuable finance experience by working on real-world projects, having an internship at a top company, and networking with finance professionals.

Program Overview

By choosing Illinois Tech’s Master of Science in Finance degree program, you’ll enjoy a number of program advantages, including:

  • Gain professional expertise through Illinois Tech’s Elevate program. This one-of-a-kind program guarantees access to hands-on experiences—including research projects, internships, study away, competitions, short courses, and more—as well as personalized academic and career mentorship, all in pursuit of ensuring that our students graduate with career-readiness.
  • Dive deep into a concentration of your choice. In addition to your core coursework, you can choose to elevate your skills and knowledge by choosing a concentration in Financial Technology, Portfolio Management, Risk Management, Corporate Finance and Valuation, or Quantitative Modeling and Trading.
  • Live and learn in the heart of Chicago’s finance industry. Being just a short train ride away from some of the country’s major financial districts offers you incredible opportunities for internships and networking, with unparalleled access to industry professionals.
  • Compete with finance students from across the globe. As a Stuart finance student, you’ll participate in national and international business competitions in areas such as equity research, portfolio and risk management, equity valuation, and trading.
  • Learn from and collaborate with industry-leading experts. Our finance professors bring their finance experience directly to the classroom, offering extensive insights into financial markets, institutional operations, and industry research. You’ll learn from real industry professionals.

Career Opportunities

Our M.S. in Finance degree program will prepare you to step into a variety of specialized finance careers, such as:

  • Financial or equity analyst
  • Financial risk manager
  • Derivative trader or originator
  • Portfolio or hedge fund manager
  • Credit risk analyst

Companies that have hired Illinois Tech’s Stuart School of Business finance graduates include:

  • Chicago Board Options Exchange
  • Chicago Mercantile Exchange (CME) Group
  • Ernst & Young
  • Eurex
  • Federal Reserve Bank
  • J.P. Morgan
  • Morningstar
  • Northern Trust Corporation
  • Nuveen Investments
Disclaimer for prospective students, please read.
The information provided is sourced from a third party, Lightcast, and is provided here for informational and educational purposes only. Please be advised that the inclusion of the Lightcast resource on this website does not imply endorsement by Illinois Institute of Technology (Illinois Tech), nor is it a guarantee of the accuracy of this information. Illinois Tech makes no representation, warranty or guarantee, express or implied, that the information presented herein is reflective of the outcomes you can expect if you enroll in or graduate from an Illinois Tech program. Illinois Tech expressly disclaims any liability regarding Lightcast, or in connection with any actual or potential employment opportunity stemming from information on this site and you hereby irrevocably waive any claim(s) against the Illinois Tech for the same. Your use of this web page is an acknowledgement of your understanding and acceptance of the terms and conditions set forth herein. You are encouraged to conduct your own thorough research into job opportunities and outcomes in your field of study.

Gain real industry insights through our M.S.F. courses

Illinois Tech’s Master of Science in Finance program consists of 11 M.S.F. courses, all taught by finance professors with extensive industry experience. Almost all courses are offered outside of normal work hours, allowing you to maintain full-time employment. The program is generally completed in two years (four semesters).

A selection of elective concentrations allows students to develop valuable expertise in industry specializations. The program requires successful completion of at least 33 semester credits (11 courses; each course is three credit hours).

Core Courses
Required; 18 credit hours (six courses)
MSF 501—Mathematics with Financial Applications
MSF 502—Statistical Analysis in Financial Markets
MSF 503—Financial Modeling
MSF 504—Valuation and Portfolio Management
MSF 505—Futures, Options, and OTC Derivatives
MSF 506—Financial Statement Analysis

Elective/Concentration Courses
Students take 15 credit hours (five courses) in addition to the core courses, which may consist of an optional concentration of three courses (shown below) plus two elective courses. Choosing a concentration is highly recommended. Students who opt out of a concentration choose five elective courses.

Financial Technology    
MSF 547—Machine Learning for Finance and Business
MSF 577—High Frequency Finance and Technology
MSF 591—Global Markets and Technology

Portfolio Management    
MSF 544—Asset Valuation
MSF 546—Quantitative Portfolio Management
MSF 545—Fixed Income Portfolio Management

Risk Management    
MSF 554—Market Risk Management
MSF 555—Credit Risk Management
MSF 566—Time Series Analysis

Quantitative Modeling and Trading    
MSF 524—Models for Derivatives
MSF 525—Term Structure Modeling and Interest Rate Derivatives
MSF 568—Energy Commodities Analytics and Trading

Corporate Finance and Valuation    
MSF 534—Corporate Finance
MSF 535—Investment Banking and Venture Capital
MSF 544—Asset Valuation

Custom Concentration
It is possible to earn a custom concentration by specifying a three-course sequence and obtaining permission from the program director. The courses should form a coherent theme and the custom concentration should be approved before enrolling in the final nine credit hours for the program.

Elective courses can be chosen from the following list and/or from courses listed in the concentrations shown above.
MSF 595—Entrepreneurial Finance
MSF 599—Special Topics in Finance
MSF 597—Independent Study in Finance

Master of Science in Finance admissions requirements

  • Completed online application
  • Official transcript submission with a minimum cumulative undergraduate grade-point average of 3.0 on a 4.0 scale
  • No GMAT or GRE scores required
  • A one-page statement of purpose, with goals and objectives
  • English proficiency exam, if required 
Claire Johnson, Stuart School of Business

Have Questions? Connect with Us

For any questions about Stuart School of Business degree programs or the application and enrollment process, contact our Director of Student Recruitment Claire Johnson.

Why Choose Illinois Tech’s Master of Science in Finance Program?

Here are just some of the many reasons to choose Illinois Tech’s Stuart School of Business M.S. in Finance degree program:

Scholarships and Financial Aid for Our Master of Science in Finance Program Students

Domestic students pursuing our M.S. in Finance degree are eligible to apply for the Chicago Talent Pipeline Scholarship, which supports motivated individuals to advance their career paths in Chicago’s dynamic finance industry. In academic year 2023–24, this scholarship awards a maximum of $14,000 per degree.

International students pursuing our M.S. in Finance degree are eligible to apply for Illinois Tech’s Stuart School of Business Dean’s Scholarship, which in academic year 2023–24 awards up to $14,000 for the full two-year program. We are also a STEM-designated program, which allows international program graduates to apply for an extension for Optional Practical Training in the U.S.

Learn more about tuition, fees, and financial aid at Illinois Tech

“Picking a graduate program is all about fit. I was looking for a program that could improve my programming skills, a program that competed in competitions, and a program that had current industry professionals teaching. Stuart checked all of my boxes.”

—Keenan Ibrahimbacha (M.S. FIN ‘19)

Keenan Ibrahimbacha

Why Stuart’s Master of Science in Finance Stands Out

More reasons to choose Illinois Tech’s Stuart School of Business


Rank in the U.S. of the M.S. in Finance Program

—TFE Times (2024)

Chicago Skyline Ariel View 280x150

We offer the only business school in a tech-focused university in Chicago.


Stuart is AACSB Accredited. Only 6% of Business Schools Globally Are.

—Association to Advance Collegiate Schools of Business International

Featured Faculty

Yiwei Fang
Associate Professor of Finance
Ricky Cooper
Director, Ph.D. in Finance Director, M.S. in Finance Director, M.S. in Financial Economics Associate Professor of Finance
Haizhi Wang
Professor of Finance
Ben Van Vliet
Assistant Program Director Associate Professor of Finance Director, Center for Strategic Finance
Sang Baum Kang
Assistant Director, Undergraduate Programs in Business Associate Professor of Finance
Michael Rybak
Clinical Associate Professor of Finance
Li Cai
Associate Professor of Finance

Get Hands-on with Finance

Internship Opportunities at Stuart School of Business

Through Stuart School’s connections, our students get a head start on their careers with internships at CME Group, Eurex, Wintrust, and other top companies.

Stuart Investments for hands-on experience for Finance students

Learn by doing in Stuart Investments, the student-led organization where you can participate in equity research, valuation modeling, and portfolio management.

Finance competitions at Stuart School of Business

From risk management to equity valuation, Stuart students put their financial knowledge and skills to the test in national and international business competitions.

Move Your Career Forward

Alumni relations

A global network of accomplished Illinois Tech alumni is available to engage with and support our students.

Career development

Stuart’s Career Management Center offers individualized career counseling, resources for job and internship search, and opportunities to network with industry professionals.

Additional Master of Science in Finance Program Options

Dual-Degree Programs

Combine your M.S. in Finance with another graduate degree in business (M.B.A.) or law (J.D.) to expand your career opportunities. Illinois Tech dual-degree programs can significantly reduce the number of credits required for two degrees.

Interdisciplinary Focus

Designed for working professionals, these programs are a quick, effective way to enhance your expertise—and move your career forward—with the latest industry-relevant ideas, skills, and tools.

Accelerated Master’s Program

Current Illinois Tech undergraduates can earn both a bachelor’s degree and an M.S. in Finance in as few as five years through the AMP co-terminal option.

2019 McGill International Portfolio Challenge team

Excellence in Competitions

Stuart finance students have excelled in competitions in areas such as equity research, portfolio and risk management, and trading against teams from top universities around the world.

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Stuart student conducting research

Tools for Research

The Financial Markets Research Lab at Stuart School of Business is designed to give students the tools they need to pursue high-level research in finance. The lab features 10 individual dual-monitor Bloomberg workstations, two large wall-mounted monitors for screen sharing, and the latest software and subscriptions to major business databases.