Master of Science in Financial Mathematics
at University of Chicago, Chicago

4.3 /5

(2 Reviews)

Shiksha popularity ranking

#7 in Mathematics in USA

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Private University
Department of Mathematics

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Master of Science in Financial Mathematics
at
University of Chicago
Overview

Our counselors guided 1 student in securing admission to this course. Know more

The University of Chicago offers Master of Science in Financial Mathematics course at PG level. Offered for a duration of 15 months, it is among the top-ranked courses offered by the university. Indian students are required to submit scores of exams such as IELTS, TOEFL, GRE, PTE and Duolingo to be eligible to get selected for the course. Additionally, Indian students also have to provide all the necessary documents as part of the admission process. The The University of Chicago tuition fee for Master of Science in Financial Mathematics is USD 70,782 (INR 6,794,364) for first year. Along with tuition fees, the students are also required to manage living expenses.

Duration	15 months
Tuition & Fees	₹67.77 Lakh Get Fees details
International Students Admission Website	Go to Website
Official Career Service Website	Go to Website
Course Level	PG Degree

Master of Science in Financial Mathematics

Table of contents

Overview
Fees
Entry Requirements
Application Process
Rankings
Placements
Highlights
Scholarships

Master of Science in Financial Mathematics
at
University of Chicago
Fees

Students interested in pursuing a Master of Science in Financial Mathematics from The University of Chicago must fulfil the associated monetary requirements that come with the course. The fee structure includes the payment of the first-year tuition fee. Students must also plan for some other costs they may incur associated with living in USA such as rent, food, medical, travel & other expenditures. The cost may vary as per the lifestyle being pursued by the students & some other fees that may be charged by The University of Chicago over the duration of studies. The first year tuition fee for Master of Science in Financial Mathematics is around USD 70,782 (INR 6,794,364). For a more detailed fee breakdown regarding the Master of Science in Financial Mathematics from The University of Chicago, refer the table given below:

1st year tuition fees

Fees components	Amount (for 1 year)
Tuition & fees	INR 67,77,402
Application Fee	INR 8,618

Other expenses in 1st Year

Fees components	Amount (for 1 year)
Insurance	INR 4,78,560
Transportation	INR 2,87,251

Calculated at the exchange rate of 1 USD = INR 95.75036 | Tuition & expenses were last updated on 11ᵗʰ December 2025

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Master of Science in Financial Mathematics
at
University of Chicago
Entry Requirements

Requirements for 12th grade Lock Icon

No specific cutoff mentioned

Graduation Lock Icon

No specific cutoff mentioned
The candidates must have a four year UG degree or its equivalent from a certified college or university
The Financial Mathematics Program seeks candidates with strong math skills, relevant work experience and basic computer programming skills
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
In addition to academic mathematical training and work experience, candidates must have some level of computer programming skills ideally in either C++ or Python or other object oriented languages
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Convert your CGPA to GPA

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GPA

Percentage

CGPA

TOEFL

Marks - 90/120
At least 90 on the TOEFL

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Convert your CGPA to GPA

Calculate your score and check your eligibility at over 2000+ universities.

GPA

Percentage

CGPA

PTE

No specific cutoff mentioned

IELTS

Marks - 7/9
At least 7 required

Get a Full FREE IELTS Prep Course with Shiksha Study Abroad – Limited Seats for Weekend & Weekday Batches! Register now for IELTS

GRE

No specific cutoff mentioned
The GRE is not required of any applicant.

Applicants are welcome to use a GRE score to enhance their application.

Duolingo

No specific cutoff mentioned

Work Experience Lock Icon

Although many candidates without work experience are accepted, university strongly encourages those with relevant work experience to apply to the Program and to include this information in their applications.

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, it is given this a fair amount of consideration.
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Which exams out of the above do I need to give?

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Master of Science in Financial Mathematics
at
University of Chicago
Application Process

Step one

Prepare documents for application

LOR

Three Letters of Recommendation are required

Resume/CV is required
Please list your entire work history on your resume, including start and end dates, locations, and indicate if the position was full or part-time.

Step two

Additional documents required

Transcripts from all previous colleges and universities attended
Proof of English language proficiency
2 Video Statements
3 Candidate Statements:
- Each statement should be no longer than 250 words:
  1. 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?
  2. How does this program/university/city align with your career goals?
  3. Is there any additional information pertaining to your overall candidate profile that would be helpful to the committee to know?

Step three

Start your online application

https://apply-psd.uchicago.edu/apply/

Step four

Application fees for this course

USD 90 = INR 8.66 Thousand

Mode of payment: Credit card

University allows students to pay their tuition fee in 10 monthly installments of equal amount
Enrollment fee is $90.00 annually

Master of Science in Financial Mathematics
at
University of Chicago
Rankings

Course Ranking

University Ranking

Rank	Rank Publisher
#18	Physics and Astronomy QS, 2026
#20	Life Sciences THE (Times Higher Education), 2026
#34	Chemical Engineering PG US News & World Report, 2026

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Master of Science in Financial Mathematics
at
University of Chicago
Placements

Particulars	Statistics (2024)
Average Salary	USD 86,250
% Batch placed	98
Internship Available	Yes, Students have the option to receive practical training through Project Lab, or an internship 97% of full-time students secured at least one internship Students receive internship in companies like Go Read more Students have the option to receive practical training through Project Lab, or an internship 97% of full-time students secured at least one internship Students receive internship in companies like Goldman Sachs, JP Morgan, Barclays and CME Group

Top Recruiters for University of Chicago

ABN Amro Bank

Barclays Capital

Goldman Sachs

JP Morgan Chase

Morgan Stanley

Wells Fargo

The University of Chicago
Students Ratings & Reviews

4.3/5

2 Verified Reviews Info Icon

Student Views (Based on Reviews)

50% students never faced discrimination in this university

Vibe of Campus

Friendly

Academically oriented

Multi-dimensional

Sporty

Internships4

Part time work4

Post study jobs4.5

Quality of faculty4.5

Student Life4.5

Value for money4.5

Public transportation4.5

Safety3.5

Indian Food4

Permanent Immigration4.5

Kutay serova Verified Icon

BA in Linguistics - Batch of 2026

4.0

Academic excellence and innovation.

Tips: After coming here, I have had to adjust to a new place, which included some cultural shifts. The way people do things here is a bit different from my home country, but it's been a valuable learning experience. I was fortunate to receive a scholarship. I'm very satisfied with my university. They offer excellent support and resources.

Likes (Safety): In my college, they make sure we're safe with bright paths, emergency phones, and cameras. They teach us what to do in emergencies. The city is usually good, the people are nice, and there are cool things to do. Sometimes traffic is a hassle, but that's not a big deal compared to the fun stuff.

Dislikes (Student Life): My college days are a mix of classes study sessions and extracurricular. I enjoy the freedom and diverse events on campus from cultural festivals to club activities. There's always something happening, and I try to participate when I can. Student clubs cover a wide range of interests and I've made friends in academics and social experiences and I love the opportunities it brings.

Total Monthly ExpenseUSD 1400

Prepping time for classes20 hours/Week

Expected Annual SalaryUSD 60275

Reviewed on 10 Sep 2023Read more

Kuntal Ghosh Verified Icon

Master of Science in Molecular Engineering - Batch of 2025

4.5

Fantastic experience, a definite recommendation for any aspiring applicant!

Tips: I must mention that if you are a graduate student, you get a monthly stipend. The university will cover the tuition fees, and the stipend (or salary) given is very decent. Academically, this is one of the best universities you'll ever come across. The workload can be really demanding at times, but I guess all good places have that in common.

Likes (Quality of faculty): The professors here are top-notch, at least in my department. The Chemistry department boasts some of the best researchers in their field, including a Nobel laureate. In terms of teaching, professors are usually very chill and easy to approach. One shouldn't have too many issues with regard to the faculty.

Dislikes (Safety): Chicago isn't known to be a safe city, including the area around the campus. However, if you follow basic rules eg. don't go out alone on the streets at night, etc. you should be fine. I must say though, that the university tries its best to keep the students safe.

Total Monthly ExpenseUSD 947

Prepping time for classes14 hours/Week

Expected Annual SalaryUSD

Reviewed on 26 Apr 2023Read more

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Master of Science in Financial Mathematics
at
University of Chicago
Highlights

The University of Chicago's Department of Mathematics offers a one year postgraduate degree in Financial Mathematics which equips students with a solid foundation in mathematics
Students explore the deep-rooted relationship that exists between theoretical and applied mathematics
Graduates are provided with practical knowledge that they can successfully apply to complicated financial models