MS in Mathematical Finance
What type of applicant does BU look for?
The Admission Committee looks for three primary factors when they review an application:
- A record of academic excellence in quantitative coursework — so we can be assured that you will thrive in our dynamic and rigorous program
- Commitment to ethics — to ensure that you will maintain the high level of integrity expected of all students in the School of Management
- Evidence of student and community involvement — to indicate the value you will bring to future classmates
We are committed to enrolling qualitatively excellent incoming classes that represent global, ethnic, and demographic diversity. It is our policy to encourage prospective students to consider our management programs regardless of race, color, religious creed, gender, national or ethnic origin, sexual orientation, age, disability, eligible veteran status or any other category protected by law.
How do I begin an application?
Where do I send my official application components (i.e official transcripts)?
All documents should be mailed to:
Boston University School of Management
Office of Graduate Admissions
595 Commonwealth Avenue
Boston, Massachusetts 02215
How long will I have to wait for my admission decision?
If your application is submitted in its entirety by the required deadline, we aim to release the decision to you in four to six weeks. This precludes our doctoral programs. For the anticipated decision response dates, please visit our application deadlines page.
What is the reapplication policy?
The Graduate Admissions Office keeps all records on file for one year. In order to reapply you must follow the reapplication procedure as outlined on our website.
What tests are required for admission?
Applicants to the MS in Mathematical Finance may either submit and GMAT score or a GRE score. Applicants to the PhD program are required to take both the GRE and the GRE Math subject test. We accept students with a range of scores. Having a score that exceeds the average does not guarantee admission, nor does a score below the average necessarily mean that you will not be accepted. To see the averages of our current classes, please visit the class profile pages
Are official documents, such as transcripts and GMAT or GRE scores, required?
To expedite the admissions process we ask that you upload unofficial documents at the time of your application submission. Admitted candidates are required to submit official copies of all documents.
Do I need a TOEFL score?
International applicants who are not citizens or permanent residents of the US, Great Britain, Canada, Australia, New Zealand, India, Singapore and South Africa, or who have not earned a Bachelor’s degree or higher in these countries, are required to take either the TOEFL, IELTS or PTE exam.
BU’s TOEFL code is 3087, department code is 02.
TOEFL/IELTS results are valid for 2 years.
What is the minimum TOEFL or IELTS score you accept?
TOEFL: Minimum scores of 600 on the PBT, 250 on the CBT, or 100 on the IBT are recommended.
IELTS: A student must score a minimum of 7.0 across each band.
PTE: Because the PTE test is new, we are currently developing updated standards for our requirements. Because of this, we do not have a minimum score at this time. Please check back as the school year progresses for more information.
Do I need to interview?
Interviews are by invitation only. Upon receiving your application, we will determine whether an interview will be necessary.
Do I need to come to campus for my interview?
No, though we encourage you to visit campus, it is not necessary to come for your interview. We offer off-campus interviews in many major cities around the world, as well as ample opportunities to conduct your interview by telephone or Skype.
Do I need a four-year degree?
Yes. If you have studied in a country where the educational system awards bachelor degrees after only three years (e.g., India, Singapore, Australia, etc.), we typically require at least a year of additional study. Most students choose to complete either a two-year master’s program (M.Com) or postgraduate diploma prior to applying for their MSMF. Both are given equal weight with the Admission Committee and are acceptable equivalents to a 16-year U.S. bachelor’s degree. Be advised that in both programs it is necessary to obtain a degree (completing the first year of a two-year master’s program is not considered equivalent).
Do I need to complete all essays?
Yes, in order to be considered for admission, you must submit all required essays.
Program & Transfer
If my undergraduate degree is not in mathematics, can I apply to the program?
Yes, if you have successfully completed the prerequisite courses and are able to satisfy the University’s other requirements for admission.
Can this program be completed part-time?
No, students may only enroll in the program on a full-time basis.
Does the specialized training provided in the Mathematical Finance Program limit the career options of its graduates?
While the program covers the main aspects of mathematical finance and aims to prepare students for careers primarily in the financial services industry, it also provides training in the general areas of optimization, computing and statistics.
Graduates of the MF program enter into a number of fields upon graduation. Some of these career paths include:
- Financial Advisory and Investment
- Fixed Income Securities and Derivative
- Products Management
- Algorithmic Trading and Risk Management
- Proprietary Trading and Asset Management
- Financial Product Design and Implementation
Is work experience required in order to apply to the Master’s program?
No, the program was designed to meet the educational needs of both recent college graduates and practitioners. In fact, those individuals who have earned academic degrees quite recently are well positioned to succeed in this highly-rigorous, quantitative program.
Financial Aid & Scholarships
How do I apply for Scholarships & Financial Aid?
Admitted candidates to the MS in Mathematical Finance and PhD in Mathematical Finance are considered for merit-based scholarships. You do not need to submit any additional information to be eligible for a merit-based award. Notification about scholarship is included in the acceptance packet. The Federal Direct Stafford Loan is available to U.S. citizens and U.S. permanent residents. Learn more about our financial aid offerings.
Do you offer financial aid to international students?
Yes, all applicants to the MS in Mathematical Finance program are automatically considered for merit-based scholarships provided that their applications are submitted by the admission deadlines. A separate application is not required. In addition, international students can finance their graduate education with private education loans provided they apply with a creditworthy U.S. citizen or permanent resident with a U.S.-based address.
Still have questions?
The Graduate Admission team is here to support you during the admission process. Please feel free to email us at firstname.lastname@example.org or to call us at (617) 353-2670. We’re also on Chat on MSN/AIM/ Yahoo/Google—our screen name is BostonUMBA.