Photo of Stuart School of Business students working on computers together

Mathematical Finance (M.A.S.)

The Master of Mathematical Finance program advances education in theoretical, computational, and business aspects of quantitative methodologies relevant to the financial industry to help students pursue careers in financial risk management.

Request Info Visit Apply

This program has been put on hiatus and is no longer being offered to new students. The program has been replaced with the Master of Financial Technology program and information on that can be found below.

Learn more about the Master of Financial Technology

Program Overview

The program 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

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.

Ask A Professor

What do climate change, finance, data science, sports analytics, engineering, and software development all have in common? They all have foundations in mathematics. Discover how a degree in applied mathematics can open doors to these careers, and many more, by speaking with  Professor Igor Cialenco, director of graduate studies at Illinois Tech’s Department of Applied Mathematics. These virtual visits occur on Thursdays from 3 p.m. to 4 p.m. CST.

Thursday, October 28, 2021 Register
Thursday, November 10, 2021 Register
Thursday, December 8, 2021 Register


Additional Information



Administration and Staff




Featured Faculty

Associate Chair and Director of Graduate Studies of the Department of Applied Mathematics Professor of Applied Mathematics
Matthew Dixon
Associate Professor of Applied Mathematics Program Director, Master of Financial Technology Affiliate Associate Professor, Stuart School of Business
Fred Hickernell
Professor of Applied Mathematics Vice Provost for Research
Tao Wu
Associate Professor of Finance
Sergey Nadtochiy
Associate Professor of Applied Mathematics
Andrei Lyashenko
Adjunct Faculty
Benjamin Van Vliet
Associate Director, M.S. in Finance Associate Professor of Finance Director, Center for Strategic Finance