Admission Requirements

Our admission process is competitive and decisions are made based on a thorough analysis of each application. We consider only applications that meet the minimum requirements specified below.

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Master of Financial Mathematics (MFM) Requirements

Minimum Requirements:

  • A Bachelor's degree from an accredited U.S. university or foreign equivalent.

  • GPA We follow the Graduate School's requirements for the minimum GPA, currently set at 3.0.

  • Required Background in Mathematics and Programming: All applicants should have completed the following:

Four semester college level Calculus sequence that covers single variable and multi-variable calculus and linear algebra.

Calculus-based probability course

Ability to write code using any programming language.

  •  GRE: 
    • Applicants who have received undergraduate degrees from a North American University or College: GRE is Optional
    • Applicants who have received undergraduate degrees from an international university of college:  GRE is Strongly Recommended
    • Either a GRE General or a GRE Math Subject test score (no more than two years old). We do not set a minimal score for the GRE test but we definitely use it as well as other factors when making an admissions decision. NOTE: We do NOT require or consider GMAT scores.
       

  • English Proficiency-TOEFL: We follow the Graduate School's requirements for English language proficiency standards for international students. See the Graduate School's TOEFL page for exact details and latest updates.

  • 3 Letters of Recommendation

Fundamentals of Quantitative Finance (FQF) Requirements

Minimum Requirements

A Bachelor's degree from an accredited U.S. university or foreign equivalent.

GPA: We follow the Graduate School's requirements for the minimum GPA, currently set at 3.0.

Mathematical background: Applicants should have a good background in mathematics, but not necessarily at the level of mathematics major. In particular, all applicants must have taken at least three semesters of college calculus, covering two semesters of single variable calculus and an additional semester of either multivariable calculus or linear algebra. A grade of "B" or better is required in all freshman level calculus courses. Exposure to probability and statistics as well as familiarity with a programming language is highly recommended.

English Proficiency-TOEFL: We follow the Graduate School's requirements for English language proficiency standards for international students. See the Graduate School's TOEFL page for exact details and latest updates.

TOEFL Exam Codes

University of Minnesota Institutional Code: 6874

School of Mathematics Department Code: 72

Application Process