MFM Fellowships

Fellowship Details 

Fellowship1

Three fellowships are available for MFM students who will add diversity to the MFM student body.  Fellowships are funded by our generous corporate donors: Parametric, US Bank, 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. In addition to financial support from our generous donors, the fellows will have the opportunity to get to know the various firms that support their 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.

Candidates will apply for these fellowships for the fall incoming MFM class of 2023. The fellowship will cover up to 4 consecutive semesters of the MFM program, September 2023 through May 2025. 

Fellowship cycle for 2023 is now open 

Parametric Financial Mathematics Fellowship for Opportunity and Advancement

This two-year fellowship is fully supported by Parametric.  The fellowship includes full coverage of in-state MFM tuition and all university fees (even if you are not a Minnesota resident) and a living stipend of $25,000 per year for two consecutive academic years. The fellowship has an approximate total value of $100,000.

Parametric has $410 billion in assets under management across an array of products and strategies, including not just custom core and overlay, but also responsible investing, factors, emerging markets, liquid alternatives, fixed income, and more.  Parametric is a company with expressed goals to continually strive in evolving their skills and technical expertise in order to apply ingenuity to solving client challenges, while remaining grounded in their quantitative approach.  The firm became part of Morgan Stanley in 2021, but it remains proudly independent in its approach and spirit.  The firm has 148 investment professionals across six offices, with expertise in research, strategy, trading, and portfolio management.  Parametric is committed to making an impact in the communities where it does business. Read about Parametric’s community impact initiatives.

Cargill Financial Mathematics Fellowship for Opportunity and Advancement

This two-year fellowship is funded by Cargill (Cargill Risk Management). The fellowship includes partial coverage of in-state MFM tuition with an approximate total value of $30,000 paid over two consecutive academic years. 

Cargill is the largest privately held firm in the world with headquarters in Minneapolis and 160,000 employees across 70 countries.  They combine 157 years of experience with new technologies and insights to serve as a trusted partner for food, agriculture, financial and industrial customers. They have a strong commitment to help make communities thrive wherever they do business. For more information, visit Cargill Community Engagement.

Allianz Financial Mathematics Fellowship for Opportunity and Advancement

This two-year fellowship is funded by Allianz (Allianz Investment Management). The fellowship includes partial coverage of in-state MFM tuition with an approximate total value of $30,000 paid over two consecutive academic years.

Allianz is one of the world's largest financial firms and is based in Munich, Germany, with U.S. headquarters for insurance and hedging in Minneapolis. Allianz is one of the leading integrated financial services providers worldwide, offering their 122 million customers in more than 70 countries a wide range of products, services, and solutions in insurance and asset management. Allianz consistently makes Ethisphere’s “Most Ethical Companies in the World list”. For more information, visit Allianz Foundation for North America.

 

Fellowship

Eligibility Requirements

MUST fulfill each of the following requirements to be considered eligible:

  • Acceptance to the MFM program by submitting a complete application and getting an offer to join the program (Note: Applicants can apply for the MFM fellowship at the same time as they apply for the MFM).
  • Fellowship Recipient must be a full time student in the MFM Program. 

Additional Eligibility Requirements for the Parametric Financial Mathematics Fellowship for Opportunity and Advancement and Allianz Financial Mathematics Fellowship for Opportunity and Advancement

  • U.S. citizens, U.S. permanent residents, and those legally in the United States on a non-temporary basis (refugees, and asylees) entering the MFM program at the University of Minnesota in the academic year 2023-2024.
  • Applicants must have completed the FAFSA, with demonstrated financial need.

Application Guidelines 

Applicants should keep in mind the following selection criteria:

  • Financial need.
  • Evidence of academic promise (past grades, reference letters from MFM application). 

We also consider the following factors in our holistic application review.  These factors will help the MFM program increase diversity in the student body:

  • First generation in my family to attend college.
  • Evidence of having overcome social, economic, or physical barriers to educational achievement.
  • Strong commitment to community service and leadership.
  • Other personal or extenuating circumstances.

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