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MCMASTER UNIVERSITY, HAMILTON, ONTARIO - PROGRAMS

Hamilton, OntarioLOCATION
UniversitySCHOOL TYPE
Estd 1887Established Year
  33147Enrollment

Master (Financial Mathematics)

 1 year
 full time
  English
 online
 Course Based

Field of Study

$ 22,522 

1st Year
Fees

International Student Tution

Check Detailed Fees

Program Description

  • McMaster University offers a Master of Financial Mathematics for a duration of 12 months.
  • It is an online, course-based program offered on a full-time basis.
  • The Master of Financial Mathematics program is also called the M-Phimac program.
  • All courses for every first-year Science student will be delivered online for this fall. A limited number of students in their second, third, and fourth years will return to campus for part of the semester.
  • The Financial Mathematics program consists of applies methods of mathematics, statistics, computational science, and economics to core problems arising in financial institutions.
  • In this 1-year graduate program, 8 months is consist of coursework taught by recognized experts emphasize the development of both strong technical foundations and professional knowledge.
  • In this program, students will understand the applications of advanced mathematics to finance and investments.
  • The major industrial project completed in the third term will explore a topic of current interest with guidance from a finance industry professional and can be completed while working full time or as an intern.
  • With 8 specialized graduate courses in the first 8 months, followed by a major industry-related project through the summer and M-Phimac graduates leave well prepared for their career.
  • The program sees 90% of graduates working in the financial industry within a year of graduation.
  • The department offers a fast track option to careers such as risk management, derivative securities analysis, portfolio design, and others in the finance industry.
  • The average salary of the program goes up to 54,000 USD.

Program Highlights

Degree Type Offered Master
Duration1 year
Fees$ 22,885 for 1 year
Delivery TypeFull Time
Admission Intake September (Deadline - Feb 01)
Language Proficiency TOEFL,IELTS,PTE
ExamsGRE
Program Urlhttps://gs.mcmaster.ca/program/financial-mathematics/

Eligibility & Entry Requirement

Academic Eligibility:

  • Students have to complete an honors bachelor's degree in a quantitative subject, such as mathematics, statistics, physics, computer science, or engineering from a recognized university.
  • The students have a minimum B+ average grade across their level 3 and 4 undergraduate courses.

Others:

  • Beyond academic achievement, students must have determination, analytical expertise, excellent communication skills, and computer programming skills.
  • Students also have evidence of leadership, analytical expertise, industry experience, or other marketable job skills.

Indian Student Eligibility:

Indian students are eligible to apply if they meet one of the following eligibility criteria:

  • Completed a 4-year UG degree with first class in a relevant field from a recognized institution.
  • Or, completed a master's degree from a recognized institution.
  • Or, completed a 3-year UG degree in a relevant field from a recognized institution.

Submission of GRE scores is not compulsory for this program, however, if students have given the GRE exam then it is recommended to submit the scores (minimum 300) for a better chance of admission.

Along with the minimum eligibility requirements, international students hailing from non-English speaking countries need to prove English proficiency through IELTS/TOEFL/any equivalent test.


Required Document List

Following are the required documents:

  • Online application form and fees: Students have to fill the online form and submit the application fees. 
  • CV/Resume: Outline of academic achievements and/or awards, publications, relevant work, and/or volunteer experience.
  • Two Academic or Professional References: Referees (Teachers, guidance counselors, or Professors) should comment on academics and that references should submit along with the application system.
  • Personal Statement: It should include a brief overview of themselves, strengths, and any work experience and/or education that students have.
  • Transcripts: Students have to submit transcripts from all universities/colleges attended, World Education Services Assessments, and English Language Proficiency test scores.
  • Statement of Intent: Reasons or intentions for pursuing studies in this program, including a description of prior experience.


Application Deadline

September
Feb 01


Scores Required

92 / 120

Avg. Score in

TOEFL

6.5 / 9

Avg. Score in

IELTS

60 / 75

Avg. Score in

PTE

309 / 340

Avg. Score in

GRE


Fees & Funding

Tution & Application Fees

YearYear 1
Tuition fees$22522
Health insurance$203
Other fees$160
Total fees$22885

Living Costs

HeadAvg Cost Per Year
Room and food (on-campus)$ 9,195
Housing (off-campus)$ 4,860

Ranking

Academy Ranking of World Universities 2020

Ranked #51/ 500

Mathematics [ International ]


Scholarship Grants & Financial Aids

NameAmountInternational Students EligibleApplication Deadline
Ontario Graduate Scholarship $10,847 Yes N/A
FINCAD Women in Finance Scholarship $20,000 Yes N/A
Ontario Graduate Fellowship $8,459 Yes N/A
Aga khan Foundation Scholarships Variable Yes 31 Mar, 2020
Ellis R. Ott Scholarship for Applied Statistics and Quality Management Variable Yes 01 Apr, 2020
Collegedunia $150 Scholarship Program $150 Yes N/A
Go Clean Scholarship $3,500 Yes 31 Dec, 2020
BrokerFish International student scholarship $1,000 Yes 21 Dec, 2020
VueVille Future Technology Scholarship $1,000 Yes 30 Sep, 2020
Debesh Kamal Scholarship $1,385 Yes 30 Apr, 2020
JN Tata Endowment Scholarship Variable Yes 09 Mar, 2020
Bharat Petroleum Scholarship 2020 Variable Yes N/A
Paul Foundation scholarships $20,174 Yes N/A
Forktip Women’s- Innovation Scholarship Variable Yes 30 Aug, 2020
(ISC)² Women’s Cybersecurity Scholarships Variable Yes 19 Feb, 2021
Show More

VISA & Work Study

VISA

  • Students are required to get a Study Visa to study in Canada.
  • If students are traveling outside Canada will need either an Electronic Travel Authorization (ETA) or a Valid Temporary Resident Visa (TRV) to re-enter Canada.
  • The cost of the study visa is 112 USD and is valid for the length of the student’s study program, plus an extra 90 days.
  • Students need a Social Insurance Number (SIN) to work in Canad and to get the SIN, students will need to bring a passport and study visa.
  • At the time of VISA application, students need to provide various documents:
    • Application form and Study Plan
    • Valid Passport
    • Official Acceptance Letter
    • Financial Evidence

Work Study

Students need a work-Study visa to work in Canada. Full-time international students studying at a Canadian university may seek employment in Canada in 4 situations:

  • on-campus employment
  • co-ops employment
  • working off-campus
  • post-graduation work visa

The McMaster Work Program gives students opportunities to work on campus during the fall/winter terms and over the summer.

  • First-year international students are not eligible for the fall/winter work program but can apply for the summer after their first year and every year beyond.
  • International students with a valid study visa are eligible to participate in McMaster’s work programs.
  • Students can work Part-time at a maximum of 10 hours per week in the fall and winter terms.
  • Students can work Full-time of 35 hours per week and part-time over the summer.

Career and Placement after Course

Possible career opportunities are:

  • Financial engineer
  • Derivatives trader
  • Asset manager
  • Fund manager
  • Consultant



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