Fellowship Amounts and Terms
Two fellowships are available for MFM students who will add diversity to the MFM student body. Both fellowships are funded by our generous corporate donors: Parametric, Cargill and Allianz Investment Management. These firms hire MFM alumni and are committed to supporting our goal of increasing diversity, broadly defined, in the University of Minnesota’s MFM student body.
“The Parametric Financial Mathematics Fellowship for Opportunity and Advancement” and “The MFM Fellowship for Opportunity and Advancement” and are both two-year fellowships with an approximate value of about $94,000, which will be within the established cost of MFM attendance over two consecutive academic years. This includes coverage of full in-state MFM tuition and fees (even if you are not a Minnesota resident) and a living stipend of $25,000 per year for two consecutive academic years (up to 4 semesters) of the MFM program. The Fellow will also be provided subsidized health insurance for the two academic years. The stipend is distributed in bi-weekly payments throughout the academic year in alignment with the University payroll schedule.
Fellowship cycle for 2022 is now open
Candidates will apply for these fellowships for the fall incoming MFM class of 2022. The fellowship will cover up to 4 consecutive semesters of the MFM program. Students can choose to complete the program in either 18 or 24 months - September 2022 through May 2024. If students do the program in 24 months they will have more time to take MFM electives and prepare for their post graduate careers. Check back to this website periodically. We will update you as soon as the application period opens for students applying to enter the program in fall 2022.
In addition, to financial support from our generous donors, the Fellows will have the opportunity to get to know the various firms that support the fellowships by engaging in job shadowing and other interactions with the donor firms. In addition there will be opportunities to apply for summer internships at donor firms and other local, regional and national firms.
Parametric Financial Mathematics Fellowship for Opportunity and Advancement
This fellowship is fully supported by Parametric. Parametric has $316+ billion in assets under management and employs 500 investment professionals across six offices, with expertise in research, strategy, trading, and portfolio management. It is expected to become an affiliate of Morgan Stanley in 2021. The firm's offices are in Minneapolis, Seattle, New York City, Boston, Westport, Connecticut, and Sydney, Australia. Parametric is committed to making an impact in the communities where it does business. Read about Parametric’s community impact initiatives.
MFM Fellowship for Opportunity and Advancement
This general fellowship was established by two inaugural donors, Cargill's Risk Management division (CRM) and Allianz Investment Management (AIM). CRM and AIM are part of two of the largest firms in the world. Cargill is a privately held agribusiness/commodities firm with headquarters in Minneapolis. Allianz is one of the world's largest finanical services firms and is based in Munich, Germany. Its U.S. headquarters for Insurance and Hedging are located in Minneapolis. These two firms both have strong commitments to making their communities thrive wherever they do business. For more information, visit the Cargill Community Engagement website and the Allianz Foundation for North America website.