Financial engineering and financial mathematics programs have always been popular choices, but they also come with relatively high application difficulty. For Canadian undergraduates applying to US graduate programs in financial engineering or financial mathematics for Fall 2024/2025, if you are still struggling with school selection, you can match your profile to the guidance in this article. Based on past successful admissions, we have divided application tiers for you.
First, financial engineering and financial mathematics focus on the application of mathematics and statistics in the financial industry, covering the development, evaluation, and implementation of various financial models. The difference is that financial mathematics emphasizes mathematical theory and the study of models themselves, while financial engineering is more practical, using computer programming to implement quantitative financial models.
Second, compared to business disciplines such as Accounting and Marketing, financial engineering and financial mathematics have higher requirements for applicants' quantitative backgrounds in math and programming, as well as practical business skills.
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Prerequisite courses for application include:
Professional knowledge: finance-related courses
Mathematics and statistics courses: calculus, probability and statistics, linear algebra, differential equations, numerical methods, etc.
Computer programming languages: Python, C++, Java, R, MATLAB, SQL, etc.
Statistical analysis software: SAS, R, EViews, Stata, etc.
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Tier 1
GPA 3.9+, GRE 335+, top-tier internships/research
Princeton University - Finance
Massachusetts Institute of Technology - Finance
University of California, Los Angeles - Financial Engineering
New York University - Mathematics in Finance
Columbia University - Financial Engineering
Baruch College - Financial Engineering
University of California, Los Angeles - Financial Engineering
Carnegie Mellon University - Computational Finance
These schools have very limited enrollment. For Canadian undergraduates, mainly from the top 10, especially the top 3 universities, a GPA of 3.9+ (3.8 might be borderline), GRE preferably 335+, and exceptional strength/research experience that is hard to match.
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Tier 2
GPA 3.7+, GRE 330+, strong internships/research
Columbia University - Mathematics of Finance
New York University - Financial Engineering
University of Chicago - Financial Mathematics
Cornell University - Financial Mathematics, Engineering Concentration
Duke University - Financial Technology (FinTech)
Georgia Institute of Technology - Quantitative and Computational Finance
These schools have moderate enrollment. Applicants from all Canadian top 10 universities are found, but for schools outside the top 3, requirements are stricter. Even if one aspect of the background is slightly weaker, the overall admission GPA is still above 3.7, with relatively rich work or practical experience.
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Tier 3
GPA around 3.5, GRE 325+, at least one strong internship/research experience
North Carolina State University - Financial Mathematics
University of Washington - Computational Finance
Johns Hopkins University - Financial Mathematics
University of Southern California - Financial Engineering
University of Michigan - Quantitative Finance and Risk Management
These schools enroll around a hundred students. Canadian undergraduates from various tiers are admitted. GPAs are mostly around 3.5, with internship or research experience, and at least one internship at a big-name company.
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Tier 4
GPA around 3.0, GRE 320+, internships/research
Boston University - Mathematical Finance
Florida State University - Financial Mathematics
Rutgers University - Quantitative Finance
University of Minnesota - Financial Mathematics
These are safety schools, but the GPA requirement is usually above 2.8, with internship or research experience.
Anne has helped many students secure offers from financial engineering and financial mathematics programs. If you are interested in applying to a master's in financial engineering or financial mathematics, scan the QR code below to start a one-on-one consultation~
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