M.A.S in Mathematical Finance at Illinois Institute of Technology

Chicago, United States

Pursue a 2 - 24 Months Masters (PostGraduate) with INR 2,740,000/Year Tuition Fees

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M.A.S in Mathematical Finance at Illinois Institute of Technology

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Overview

The Illinois Institute of Technology offers a Master of Applied Science (M.A.S) in Mathematical Finance that lasts for 18 months. Students who want to enroll in this program need to pay tuition fees of USD 32,516. To be admitted to the M.A.S in Mathematical Finance, applicants must show their English language skills. The accepted tests for this are IELTS, TOEFL, and PTE. Additionally, to qualify for admission, students must have a minimum graduation CGPA of 3.0 out of 4.0.

Program Details Information
Duration 2 - 24 Months
Course Level Masters (PostGraduate)
Mode of Course Full Time
Tution And Fees ( For 1 Year) INR 2740000.0
Type of University Private
Official Career service Website https://www.iit.edu/

M.A.S in Mathematical Finance at Illinois Institute of Technology

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Key Insights

  • list items The Master's program in Financial Engineering at Illinois Institute of Technology is highly regarded, being ranked 15th by TFE Times in 2019.
  • list items In 2018, it was also ranked 21st in QuantNet's list of the Best Financial Engineering Programs.
  • list items This program is a collaboration between the Department of Applied Mathematics in the College of Science and the Stuart School of Business.
  • list items Students receive advanced education that covers theoretical, computational, and business aspects of important quantitative methods.
  • list items Graduates of this program can start their careers as junior quantitative analysts (quants) in various financial institutions, including banks, trading companies, and hedge funds.
  • list items Coursework includes topics such as Futures, Options, OTC Derivatives, Models for Derivatives, Computational Finance, Stochastic Processes, and Mathematical Finance.

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    M.A.S in Mathematical Finance at Illinois Institute of Technology

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    Rankings

    Ranking Source Ranking
    National University US News & World Report, 2025 105
    University THE (Times Higher Education), 2025 351
    World University QS, 2025 601

    M.A.S in Mathematical Finance at Illinois Institute of Technology

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    Eligibility Criteria

    12th Grade

    There is no specific cutoff mentioned for 12th grade.

    Graduation

    Applicants must have a bachelor's degree in mathematics, engineering, or a similar field completed before enrollment, with a minimum GPA of 3.0/4.0. They should also have knowledge in undergraduate-level probability theory, multivariate calculus, and linear algebra. Having a background in ordinary differential equations can improve the chances of getting admitted.

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    GRE

    Marks: 310.0

    Typically, admitted students score at least 156 on the quantitative part of the GRE and at least 3.0 on the analytical writing part.

    TOEFL

    Marks: 90.0

    A minimum score of 90 is required.

    IELTS

    Marks: 6.5

    A minimum score of 6.5 is required, with no section score below 6.5.

    PTE

    Marks: 63.0

    A minimum score of 63 is required, with at least 53 in each section.

    Exams Accepted Qualifying Score
    GRE 310.0
    TOEFL 90.0
    IELTS 6.5
    PTE 63.0

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    M.A.S in Mathematical Finance at Illinois Institute of Technology

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    Application Process

    Application Process for Illinois Institute of Technology

    Step One: Prepare Documents for Application

    Letters of Recommendation (LOR)

    • list items Provide two letters of recommendation from people who can evaluate your academic and/or career achievements and potential.
    • list items Recommenders may include professors or employers, but cannot be family members or personal friends.

    Essays

    Submit an essay that answers the following questions:

    • list items Why do you want to pursue graduate study in the Master of Mathematical Finance program?
    • list items What is your five-year career plan, and how will graduate studies help you reach your professional goals?
    • list items How does this joint degree from the College of Science and Stuart Business School fit into your plans?

    Resume (CV)

    • list items Submit your resume.

    Step Two: Additional Documents Required

    • list items Individual semester-wise mark sheets, along with any failed or reappeared mark sheets, if applicable.
    • list items GMAT or GRE score.
    • list items Proof of English language proficiency.
    • list items Financial Support Form.

    Step Three: Application Fees for This Course

    The application fee is USD 75 (approximately INR 6.32 thousand).

    Mode of Payment: Credit card.

    Illinois Tech offers installment payment plans for both full-time and part-time students. For more details, please contact the Student Accounting Office directly at bursar@iit.edu or call 312.567.3785.

    M.A.S in Mathematical Finance at Illinois Institute of Technology

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    Fees & Other Costs

    Cost Breakdown Amount (For 1 year)
    Tuition & fees INR 27,40,123
    Hostel & Meals INR 12,26,128
    Insurance INR 1,42,163
    Transportation INR 1,93,821
    Activity Fee INR 21,067
    Total approximate fees INR 15,83,179

    Calculated at the exchange rate of 1 USD = INR 84.27 | Tuition & expenses were last updated in December 2024"

    M.A.S in Mathematical Finance at Illinois Institute of Technology

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