Financial Mathematics | The University of Chicago

Key takeaways

4-qurter program (1 year)
tuition fee about $90,000 in total
strict mathematics prerequisites

Program

Deadline: January, March

Fee

Tuition fees are based on the number of units taken in any given quarter, with each 100-unit course set at a rate of $7,201 for the 2023-2024 academic year. Tuition is billed on a quarterly basis.

Prerequisites/requirements

Application fee: $90

Candidate profile

The Financial Mathematics Program seeks candidates with strong math skills, relevant work experience, and basic computer programming skills. We admit driven individuals that come from diverse educational, social, and geographic backgrounds. Candidates should be able to demonstrate excellence in both academics and leadership.

Required documents

Resume/CV
Transcripts
3 candidate statements (Each statement should be no longer than 250 words.)

What has been your greatest shortcoming in preparing for the Financial Mathematics program and what steps have you taken to succeed in spite of this oversight?
How does this program/university/city align with your career goals?
Is there any additional information pertaining to your overall candidate profile that would be helpful to the committee to know?

2 Video Statements
3 Letters of Recommendation (At least one letter should be from a professional reference.)

Mathematics

All candidates should have a solid background in mathematics. The minimal math prerequisites are the successful completion of at least multivariable calculus, linear algebra, and probability.

Because our Program is accelerated, and because the coursework is dense and demanding, we cannot afford to be flexible about our math requirements.

Computer programming

In addition to academic mathematical training and work experience, candidates with basic computer programming skills, especially in C++ or other object-oriented languages, as well as experience in Python, will have an advantage in the Program. All students are required to take at least 250 units of Computing coursework within the FINM degree program.

Work experience

Candidates with industrial experience oftentimes find that they have an extra level of confidence in their decision to pursue a career in the financial industry. Although this is not as strict a requirement as the math skills, we do give this a fair amount of consideration.

English language test scores

Policy in the Physical Sciences Division requires a score of at least 90 on the TOEFL or 7 IELTS

TOEFL Institution Code: 1832

TOEFL Department Code: 72

Other test scores and materials

The GRE is not required of any applicant. Applicants are welcome to use a GRE score to enhance their application.

GRE Institution Code: 1832

GRE Department Code: 0799

(If the Department Code 0799 does not appear as an option, please search for, and select, “Mathematical Science - Other”)

Curriculum

In total, the Financial Mathematics degree requires the successful completion of 1250 units. A full-quarter course is 100 units, with courses that take place in the first-half or second-half of the quarter being 50 units.