Frequently Asked Questions

What companies employ graduates of the Math Finance Program?

Some of the companies/organizations that have hired graduates of the program are Allianz (Indonesia), AlphaSimplex, Acadian Asset Management, ARO, Arrowstreet Capital, L.P., Automatic Data Processing, Inc. (ADP), Banco de México, Bank of America, Barclays Capital, Bloomberg, L.P., Blue Cross Blue Shield of Massachusetts, BNP Paribas, Calyon, China International Capital Corporation Limited (CICC), Citibank, N.A., Citigroup, Credit Lyonnaise, Credit Suisse Asset Management, Council of Economic Advisers (Executive Office of the President, The White House), Daiwa Securities, Deutsche Bank, Fidelity, Fleet, GE Money Thailand, Goldman Sachs, HDFC Bank, House Ways and Means Committee (U.S. Government), HSBC (Taiwan), JPMorgan Chase, Manulife Financial/John Hancock, Kasikorn Bank, Koch Supply & Trading, KPMG LLP, MMG Partners, Morningstar China, Murex, NERA Economic Consulting, Nuveen Investments, PanAgora Asset Management Inc., PCA Securities Investment Trust Co., Polaris Securities Co. Ltd., Putnam Investments, Recon Capital, Standard Chartered Bank, State Street Associates, State Street Global Advisors, SunGard Trading and Risk Systems, Sun Life Financial, Upbest Group Limited, and Wellington Management.

When applying to the program, can the GMAT scores be substituted for the GRE General Test scores?

No, the GRE General Test results are required.

Do admissions standards differ for full-time vs part-time students or for international vs U.S. students?

No, the standards are the same.

Does the M.A. in Mathematical Finance Program offer any financial aid?

The program itself does not offer financial aid or teaching fellowships; however, Federal and private loans may be available for qualified applicants. Contact the Graduate School of Arts and Sciences Financial Aid Office at grsaid@bu.edu or by phone at (617) 353-2696 for more information.

If my undergraduate degree is not in mathematics, can I apply to the program?

Yes, if you have successfully completed the prerequisite courses and are able to satisfy the University’s other requirements for admission.

Does the specialized training provided in the Math Finance Program limit the career options of its graduates?

While the program covers the main aspects of mathematical finance and aims to prepare students for careers primarily in the financial services industry, it also provides training in the general areas of optimization, computing and statistics. Thus, graduates of the program will have skills that will allow them to launch their careers in a number of fields.

How is the Ph.D. program different from the M.A. program?

The Ph.D. in Mathematical Finance is a degree designed to prepare students for research careers in academia. The M.A. degree is designed to prepare students for highly quantitative careers in the financial services sector.

The commitment required to obtain the Ph.D. degree is very substantial. Ph.D. candidates must pass oral examinations and write an original dissertation leading to peer-reviewed publications. Students in the M.A. Program are required to successfully complete coursework and an internship, but they don't have to pass an oral examination or write an original thesis.

Is there funding for Ph.D. students?

Funding, in the form of a teaching fellowship, may be available for exceptionally strong candidates. Teaching fellows are expected to assist with the M.A. in Mathematical Finance Program.

Is work experience required in order to apply to the M.A. program?

No, the program was designed to meet the educational needs of both recent college graduates and practitioners. In fact, those individuals who have earned academic degrees quite recently are well positioned to succeed in this highly-rigorous, quantitative program.

How much time should students be prepared to devote to their studies to get the most out of the program?

Students who enroll in the program should be prepared to study about 12 hours/week per course during the Spring and Fall semesters and 24 hours/week per course during the Summer 1 session. Those who will benefit most from this program are dedicated and highly-motivated individuals who are eager to immerse themselves in the learning process. We urge prospective students to give thoughtful consideration to the commitment required in order to be successful in this challenging field.

Can I submit an online application for admission to the program?

Yes, however the University will require certain signed original documents. To apply on-line, go to the Graduate School's homepage.

Disclaimer: Notwithstanding any language to the contrary, nothing contained herein constitutes or is intended to constitute an offer, inducement, promise, or contract of any kind. The data contained herein is for informational purposes only and is not represented to be error free. Any links to non-Boston University information are provided as a courtesy. Such links are not intended to, nor do they, constitute an endorsement by Boston University of the linked materials.

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