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Finance (M.S.)

At Illinois Tech, you study finance at the center of Chicago’s global financial markets.

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The global financial industry is evolving rapidly. To stay ahead, 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 and thrive in this environment.

At Stuart School of Business, you can study in a nationally-ranked Master of Science in Finance program in the exciting city of Chicago, home to the world’s largest markets in financial derivatives.

You’ll learn the latest industry-relevant ideas and technologies from faculty who are both practitioners and scholars, bringing their career knowledge and understanding of the marketplace directly to the classroom.

Through Illinois Tech’s one-of-a-kind Elevate program, you are guaranteed hands-on experiences throughout your graduate education, such as virtual and in-person internships, and personalized guidance from a career adviser, academic mentor, and alumni coach.

Partnerships with alumni and other leaders in the finance industry provide opportunities for you to gain valuable experience by working on real-world projects, having an internship at a top company, and networking with finance professionals.

STEM-Designated Program

This is a STEM-designated program, and international graduates of the program are eligible to apply for an extension for Optional Practical Training, which allows selected students to stay and work in the United States for up to three years after graduation.

Program Overview

In the M.S. in Finance program you’ll learn leading-edge ideas and technologies from faculty who bring their industry experience to their teaching. As a global center of financial markets, Chicago offers abundant opportunities for internships and networking.

Career Opportunities

Our M.S. in Finance prepares graduates to step into a variety of specialized careers in the finance industry, including positions such as quantitative financial analyst, financial risk manager, financial engineer, derivative trader or originator, portfolio manager, hedge fund manager, corporate financial analyst, equity analyst, credit risk analyst, financial analytics or technology specialist, and more.

Companies that have hired Stuart School of Business finance graduates include:

  • Chicago Board Options Exchange
  • CME Group
  • Ernst & Young
  • Eurex
  • Federal Reserve Bank
  • J.P. Morgan
  • Morningstar
  • Northern Trust Corporation
  • Nuveen Investments
Disclaimer for prospective students, please read.
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The Master of Science in Finance program builds a solid foundation in financial mathematics, statistics, and modeling. 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). View MSF course descriptions.

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, Option, 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. Students who opt out of a concentration choose five elective courses.

Financial Technology
MSF 547—Machine Learning for Financial Markets
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—Structured Fixed Income Portfolios

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

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

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

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, enumerated by the student. In this case, the concentration should be approved in advance of enrolling in the final nine hours of credit 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

  • 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
  • Official TOEFL or IELTS score, if required. A minimum score of 85 on the internet-based TOEFL, 600 on the paper-based TOEFL, or 7.0 on the IELTS exam is required for admission consideration
  • A one-page statement of purpose, with goals and objectives
  • At least one letter of recommendation from an academic or professional reference


Domestic students pursuing the 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. This scholarship awards a maximum of $14,000 per degree.

International students pursuing the M.S. in Finance degree are eligible to apply for the Stuart School of Business Dean’s Scholarship, which awards up to $14,000 for the full two-year program.

Read more about Stuart scholarship opportunities and tuition and fees:

Stuart Scholarships   Tuition and Fees

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.

More 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.

“Stuart School of Business professors are extremely approachable and have a sincere interest in students’ success. They have industry experience and the coursework is directly applicable to programming for financial markets.”

—Charles Wolfe (M.S. FIN ‘19), Broker at TP ICAP

Charles Wolfe

“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

Stuart Stands Out


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

—TFE Times (2023)

Chicago Skyline Ariel View 280x150

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

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.

Read More
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.

Featured Faculty

Yiwei Fang
Associate Professor of Finance
Ricky Cooper
Director, M.S. in Finance Director, M.S. in Financial Economics Associate Professor of Finance
Haizhi Wang
Professor of Finance
Benjamin Van Vliet
Associate Director, M.S. in Finance 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