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Applying to Questrom

This three-semester, 17-month program is for ambitious and articulate students, ready to work hard and cooperatively to take on a demanding curriculum. Guided by our faculty, world-renowned scholars, and leading industry practitioners, you’ll master a balanced mix of finance, mathematics, data analytics, and computer programming to gain the tools you need to thrive wherever you set your sights—from investment banks to hedge funds to financial technology companies.

When reviewing applicants, our Admission team considers the whole picture—academic record, quantitative and analytical skills, professional experience, communication and leadership skills. We aim to create a class filled with highly qualified professionals from a variety of cultures and backgrounds, with a diversity of life and work experiences. We believe a diverse learning environment expands outlooks and spark new ideas, so we want applicants from all backgrounds in business and beyond—and that means you!

If you have your sights set on becoming a quantitative analyst, developer, portfolio manager, risk analyst, financial technologist, researcher, consultant, or any other role where your unique skill set will set you apart from the competition, MSMFT is your answer.

Helpful Links

We know the application process can take a lot of time and effort. If you have any questions, feel free to email or call us at (617) 353-2670.

When you’re ready to apply, start with our online application form. You may submit one application per entry term, and you can check the status of an existing application at any time. Review the admissions checklist to stay on top of required materials, and keep an eye on our deadlines, too. Feel free to contact us with any questions along the way. We want the admissions process to be as simple and transparent as possible. Reach out to the Graduate Admissions and Financial Aid Office at (617) 353-2670 or msmft@bu.edu.

The Graduate Admissions and Financial Aid Office keeps all records on file for one year. We welcome your re-application. Each re-applicant is required to submit a new application form and fee ($125); an essay discussing updates or changes since the time of the previous application, as well as reasons for re-applying; an updated resume; a new letter of recommendation; official university-level transcripts (if the re-applicant has taken new coursework since the time of their first application); and updated GMAT or GRE results (if applicable).

The Graduate Admissions and Financial Aid Office will waive the application fee for current BU employees, as well as for those who attended select admissions events. In addition, we will waive the application fee for those who are members or alumni of the following programs:

The US Military
Education Pioneers
Historically Black Colleges

The Peace Corps
Teach for America
Hispanic Serving Institutions

AmeriCorps
City Year Corps
Management Leadership for Tomorrow MBA Fellows

Instructions: To take advantage of this waiver, please fill out this form once your application has been started. Your CAS ID can be found at the top right of the online application. Once we process your fee waiver request, you’ll receive a follow-up email with additional instructions on how to submit your application. DO NOT click “submit and pay for programs” prior to receiving these instructions. We are unable to offer application fee refunds.

Due to the high volume of applications we receive, your application fee waiver may take a few business days to process. As such, we encourage you to submit your application fee waiver request as soon as you have started your application. If you wait until the application deadline to submit your waiver request, you will still be considered “on time” for that deadline as long as you submit your application within 48 hours of receiving your waiver code. You must submit your waiver request before you submit your application in order for the fee waiver to be applied.

Please note: If you have been approved for an application fee waiver and are applying to one of our dual degree programs, the application fee waiver will be applied to your Questrom application only.  You will still need to pay the required application fee for the other school at BU to which you are applying.

Admissions Deadlines

After submitting a complete application for admission, candidates can expect to receive an admissions decision within 6-8 weeks.

Entry DateApplication Deadline
Fall 2025November 20, 2024
February 12, 2025
April 4, 2025

Applications will be reviewed on a space-available basis following the final deadline***

*** For Domestic Students & International Students with a current, active F-1 visa

Admissions Checklist

Remember: You may submit one application per entry term, and you can check the status of an existing application at any time. The Graduate Admissions & Financial Aid Office keeps all records on file for one year. Once you’ve applied, we’ll begin the review process.

Below, you’ll find our MS in Mathematical Finance and Financial Technology admissions checklist. Bookmark the unique link below to return here later.

Required Program Checklist

We’re here to help.

We know the application process can take a lot of time and effort. If you have any questions, please email or call us at (617) 353-2670.

Submit aplication form online only.

Online Application Fee of $125 is payable by credit/debit cards only at time of submission.

In the “Documents” section of the “Program Materials” portion of the application, respond to three video essay questions to help us get to know you better.

Current resume, as required in the “Experiences” section of the online application. Upload in the “Supporting Information” section of the online application.

In the “Questions” section of the “Program Materials” portion of the application.

In the “Recommendations” section of the “Program Materials” portion of the application, submit two letters of recommendation.

Submit transcripts for any coursework completed, including study abroad and post graduate work, in the “Academic History” portion of the application.

Mail paper copy to:
Boston University Questrom School of Business
595 Commonwealth Ave

We accept either GMAT or GRE score reports for applications to the MSMFT program. BU’s GMAT codes vary by program, so please see the GMAT Code chart below for your degree. BU’s GRE code is 3087.GMAT and GRE test scores are valid for 5 years and you should upload an unofficial copy with your online application. You can register for the GMAT exam at mba.com, and the GRE at ets.org. You may also wish to familiarize yourself with these tests by viewing free GMAT sample questions and practice tests, as well as free GRE preparation materials, though we do not endorse any particular prep source and encourage you to do your own research.

The GRE Math Subject test is optional.

The Boston University Questrom School of Business Graduate Admissions Committee conducts a rigorous and holistic review of each application. Students admitted to our graduate degree programs must provide proof of an earned bachelor’s degree or equivalent international credential. Boston University does not require official transcripts with the submission of an application. Should a student decide to enroll at Boston University Questrom School of Business, official transcripts must be submitted and verified prior to the point of matriculation.

Additional Application Information

Video Essay

We know that you are more than what’s on paper. During the online application process, all MS in Mathematical Finance & Financial Technology (MSMFT)  candidates are asked to submit three video essays, which allow us to get to know you on a more personal level.

Within the “Documents” section of the “Program Materials” portion of the application, you will find your personalized link to the video essay website. Clicking this link will bring you to the Kira Talent website, our partner for the video essay process. When you register, you must use the same email address that you used to create your admission application account.

Upon creating your account with Kira Talent, you can begin your video essays. You’ll need to use an internet-connected computer with a webcam and microphone. You’ll have 30 seconds to prepare, and then 60 seconds to record your answers. You can practice an unlimited number of times with Kira Talent’s example questions, but once you start the formal video essay questions, you are only allowed one opportunity. This allows the committee to see your candid responses.

Optional Essay

If you have additional information to bring to the attention of the Admissions Committee, you may address it in an optional essay of no more than 250 words. Acceptable topics for the optional essay include, but are not limited to, obstacles in your life that you’ve had to overcome, gaps in post-college work experience, choice of recommenders, and concerns about academic/test performance. If you plan to retake any admissions tests (GMAT or GRE; TOEFL, IELTS or PTE), please provide the date of your scheduled test here. To upload an optional essay, please scroll to the “Essay” section and click “Add Document.”

Questions?

If you have questions about the video essay process, please send us an email at msmft@bu.edu or call us at 617-353-2670. If you need technical assistance with the Kira Talent system, please contact them directly at support@kiratalent.com

Our admission process is wholistic but one cannot succeed without needed quantitative skills. You are expected to have deep exposure to undergraduate mathematics, probability theory, statistics, and programming. You will be asked to highlight your relevant coursework within the online application. In addition, prior exposure to economics and finance will be a crucial complement of your quantitative skills.

At the minimum, we expect applicants to be familiar with:

  • Computer Programming
  • Multivariate Calculus (including derivatives and integrals)
  • Linear Algebra
  • Probability Theory
  • Statistics
  • Differential Equations

MSMFT GMAT/GRE Waiver 

We will consider your application to MS in Mathematical Finance & Financial Technology program without a GMAT or GRE score if you have a strong overall academic record. Relevant full-time work experience may also be considered when evaluating your application. PLEASE NOTE: Candidates who submit competitive GMAT/GRE scores will receive preferential consideration for admission and merit-based scholarships. The decision to consider your application without a GMAT or GRE score is made at the discretion of the admissions committee.  If you do not submit a test score, the admissions committee may ask for you to submit a GMAT or GRE score for your application to be considered.  In the event we need this additional information, we will inform you once your application has been initially reviewed.

GMAT CODE
MS in Mathematical Finance & Financial Technology: P42-5K-30

GRE CODE
MS in Mathematical Finance & Financial Technology: 3087

English Language Proficiency

Candidates who have earned or will have completed at least three years of a bachelor’s or master’s degree or combination thereof at an institution in which the language of instruction was solely based in English are eligible for an automatic TOEFL/IELTS/PTE waiver.* Candidates must present evidence of language of instruction with the application for admission. Appropriate documentation includes a transcript coversheet, an official statement from the university, or a link to the institution’s website that specifies that the mode of instruction is English. Additionally, candidates who have or will have worked for at least two years in a full-time, post-bachelors degree position in the US are eligible for an automatic waiver. If you do not meet this criteria but would like to be considered for a waiver, you can submit a written request highlighting your experience with and proficiency in the English language to msmft@bu.edu prior to the submission of your application. The admissions committee will consider these requests on a case-by-case basis. If you submit test results with your application, please be advised that tests are valid for two years.

We are currently accepting Duolingo scores in addition to TOEFL and IELTS.

To access the Duolingo test, visit https://englishtest.duolingo.com/applicants. Select Boston University Graduate & Professional Programs as a score recipient, and email questromappdocs@bu.edu with your name and the date you have taken the Duolingo test.

  • TOEFL: BU’s TOEFL code is 3087. Minimum Scores of 600 on the PBT or 95 on the iBT are recommended.
  • IELTS: Competitive applicants typically score a minimum of 6.5 on each band.
  • PTE: As more candidates submit the PTE, we are developing updated standards for our requirements. As new information becomes available, it will be posted here.
  • Duolingo: a minimum score of 120 is recommended.

*If granted a TOEFL/IELTS/PTE waiver, the admissions committee may, in rare cases, still ask you to submit a TOEFL, IETLS, or PTE score to aid in evaluating your candidacy for the program. If we need this additional information, we will inform you once your application has been initially reviewed.

Undergraduate Degrees

We require that applicants hold a four-year bachelor’s degree from an accredited US institution or its international equivalent. However, a three-year degree equivalent to a four-year degree in the US will be accepted in the admissions process.

Diplomas, the Higher National Diploma (H.N.D.), certificates, memberships or associate memberships in some professional organizations, and some bachelor’s and technical degrees are not considered equivalent to a U.S. bachelor’s degree to gain admission to the Graduate School.

For example, if you earned a three-year degree in India, your degree will qualify you to be considered for admission. If you are uncertain whether your undergraduate degree meets our qualifications, please contact msmft@bu.edu before starting the application process.


Permanent Residents

Permanent residents should submit a copy (front and back) of their permanent resident card.


Payment

Boston University no longer accepts wire transfer payments for application fees. In order to pay your application fee, please do so with a debit or credit card when submitting your application.

Tuition & Fees

The following tuition, fees, and other expenses have been established at Boston University Questrom School of Business for the 2024-2025 academic year. These numbers are expected to be updated to reflect the 2025-2026 academic year in late March of 2025.

Graduate Financial Aid Office

Our team is here to help you finance your education. From scholarships and loans to benefits and eligibility, we can help you explore your financing options and find the plan that works for you.

MS in Mathematical Finance & Financial Technology TuitionCost
Tuition*$66,670
Fees**$3,189
Books and Supplies (Estimated)$1,574
Housing and Food (Estimated)$15,450
Personal (Estimated)$3,292
Transportation (Estimated)$1,120
Health Insurance***$3,401
Loan Originated Fee (Estimated)$208
Total Educational Expenses (Estimated)$94,904

*Tuition and fees reflected are based on the current 2024-2025 academic year. These are subject to change without notice.
**Includes Student Service Fee, one-time MSMFT program fee of $2,083, and Health & Wellness fee.
***Health insurance has not been set for the 2024-2025 academic year. Health insurance is subject to change for 2024-2025 academic year. Full-time and students who are enrolled in at least 9 credits are required by Massachusetts law to carry health insurance. Students covered under another health plan that meets Massachusetts requirements may waive participation in the Boston University Plan. Students with coverage from insurance carriers outside the United States or coverage by non-US National Health Service programs may not waive participation. Charged in the fall semester for the academic year.
****Health insurance is not set for the 2024-2025 academic year. Health insurance is subject to change for 2024-2025 academic year. Full-time students enrolled in at least 9 credits are required by Massachusetts law to carry health insurance. Students covered under another health plan that meets Massachusetts requirements may waive participation in the Boston University Plan. Students with coverage from insurance carriers outside the United States or coverage by non-US National Health Service programs may not waive participation. Students who cannot demonstrate coverage under a qualifying medical insurance plan must purchase the University’s student health insurance plan. Charged in the fall semester for the academic year.
Looking to see tuition rates in another currency? Click here convert the US dollar amounts into other currencies, such as Euros, Great Britain Pounds, Chinese RMB, and Indian Rupees, and see current exchange rates.

Admissions Ambassadors

Our MSMFT Admissions Ambassadors are around to chat via email, on the phone, or even virtually through Zoom to answer your questions about what being an MSMFT student at the Questrom School of Business is really like.

Contact An Admissions Ambassador

If you would like to speak with an MSMFT Admissions Ambassador, please complete our Ambassador Contact Request Form so we can ensure we connect you to the appropriate person.

James Burrill View Profile
James Burrill

MS in Mathematical Finance and Financial Technology

Tan Mengjia View Profile
Tan Mengjia

MS in Mathematical Finance and Financial Technology

Kaiyu Jordan Wen View Profile
Kaiyu Jordan Wen

MS in Mathematical Finance and Financial Technology

Jiyao (Owen) Ma View Profile
Jiyao (Owen) Ma

MS in Mathematical Finance and Financial Technology

Frequently Asked Questions

What type of applicant does BU look for?
The admission committee looks for a few primary factors when they review an application:

  • A record of academic excellence in quantitative coursework — so we can be assured that you will thrive in our dynamic and rigorous program.
  • At least initial programming coursework and a commitment to prepping prior to the program.
  • Prior experience via internship and/or post-bachelors employment is helpful. Our students come from a variety of educational and professional backgrounds when they begin this program.
  • Commitment to ethics — to ensure that you will maintain the high level of integrity expected of all students in the Questrom School of Business
  • Evidence of student and community involvement — to indicate the value you will bring to future classmates

Learn more about our strategies and initiatives.

We are committed to enrolling qualitatively excellent incoming classes representing global, ethnic, and demographic diversity. Our policy encourages prospective students to consider our management programs regardless of race, color, religious creed, gender, national or ethnic origin, sexual orientation, age, disability, eligible veteran status, or any other category protected by law.

How do I begin an application?
We ask all interested applicants to fill out our online application and follow our admission procedures.

Where do I send my official application components (i.e official transcripts)?
You should first upload your documents with your application or email them to questromappdocs@bu.edu. If you are admitted, you will be required to submit official documents. Official documents can be mailed to:

Boston University Questrom School of Business Graduate Admissions and Financial Aid Office 595 Commonwealth Avenue Boston, Massachusetts 02215

How long will I have to wait for my admission decision?
If your application is submitted in its entirety by the required deadline, we aim to release the decision within 6-8 weeks. This precludes our doctoral programs.

What tests are required for admission?
Applicants to the MS in Mathematical Finance& Financial Technology program may either submit a GMAT score or a GRE score. We accept students with a range of scores. Having a score that exceeds the average does not guarantee admission, nor does a score below the average necessarily mean that you will not be accepted. To see the averages of our current classes, please visit the class profile pages.

Are official documents, such as transcripts and GMAT or GRE scores, required?
To expedite the admissions process, please upload unofficial documents when submitting your application. Candidates who enroll in the program are required to submit official copies of all documents.

Do I need a TOEFL/IELTS/PTE score?
Candidates who have earned or will have completed at least three years of a Bachelor’s or Master’s degree at an institution in which the language of instruction was solely based in English are eligible for an automatic TOEFL/IELTS/PTE waiver. Candidates must present evidence of language of instruction with the application for admission (through their transcript/accompanying documents or a link to the institution’s website). Additionally, candidates who have or will have worked for at least two years in a full-time, post-bachelor’s degree position in the US are eligible for an automatic waiver.

If you do not meet these criteria but would like to be considered for a waiver, you can submit a written request highlighting your experience with and proficiency in the English language to msmft@bu.edu before submitting your application. The admissions committee will consider these requests on a case-by-case basis.

If you submit test results with your application, please be advised that tests are valid for 2 years.

We are currently accepting Duolingo scores in addition to TOEFL and IELTS. To access the Duolingo test, go to https://englishtest.duolingo.com/applicants. Select Boston University Graduate & Professional Programs as a score recipient, and email questromappdocs@bu.edu with your name and the date you have taken the Duolingo test.

If you are submitting test results with your application, please be advised that tests are valid for 2 years. 

To access the Duolingo test, go to https://englishtest.duolingo.com/applicants.  Select Boston University Graduate & Professional Programs as a score recipient, and email questromappdocs@bu.edu with your name and the date you have taken the Duolingo test.

What is the minimum TOEFL/IELTS/PTE scores you accept?

TOEFL: Minimum scores of 600 on the PBT or 90 on the IBT are recommended. BU’s TOEFL code is 3087, and the department code is 02.

IELTS: A student’s overall score must be a minimum of 6.5. PTE: As more candidates submit the PTE, we are developing updated standards for our requirements. As new information becomes available, it will be posted here.

Duolingo: A minimum score of 120 is recommended.

PTE: As more candidates submit the PTE, we are developing updated standards for our requirements. As new information becomes available, it will be posted here.

Do I need to interview?
No, formal interviews are not required for the MS in Mathematical Finance & Financial Technology Program.  Instead, applicants are required to complete the three video essay questions as part of their applications. Please use the hyperlink found in the “Documents” section of the “Program Materials” portion of the application to complete the video essay process.

Do I need a four-year degree?
We require that applicants hold a four-year Bachelor’s degree from an accredited US institution or its international equivalent. If you have earned a three-year degree that is the equivalent of a four-year degree in the US, it will be accepted in the admissions process.

Diplomas, the Higher National Diploma (H.N.D.), certificates, memberships or associate memberships in some professional organizations, and some bachelor’s and technical degrees are not considered equivalent to a U.S. bachelor’s degree for the purpose of gaining admission to the Graduate School.

For example, if you earned a three-year degree in India, your degree will qualify you to be considered for admission. Regardless of program length, if you are uncertain whether your undergraduate degree meets our qualifications, please contact mba@bu.edu before starting the application process.

Do I need to complete all essays?
All candidates to our MSMFT program need to respond to three video essay questions as part of their applications. Please use the hyperlink found in the “Documents” section of the “Program Materials” portion of the application to complete the video essay process.

Is this program STEM designated?

The MS in Mathematical Finance & Financial Technology program at the Questrom School of Business is currently designated by US Department of Homeland Security (DHS) as a STEM-eligible degree program. International students in F-1 student status may be able to apply for a 24-month extension of their 12-month Optional Practical Training (OPT) employment authorization. More information about STEM OPT eligibility is available from the BU International Students and Scholars Office (ISSO).

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.

Can this program be completed part-time? No, students may only enroll in the program on a full-time basis.

Does the specialized training provided in the Mathematical Finance & Financial Technology 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. Graduates of the MF program enter into a number of fields upon graduation. Some of these career paths include:

  • Financial Advisory and Investment
  • Banking
  • Fixed Income Securities and Derivative
  • Products Management
  • Algorithmic Trading and Risk Management
  • Proprietary Trading and Asset Management
  • Financial Product Design and Implementation

Is work experience required in order to apply to the Master’s 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 do I apply for Scholarships & Financial Aid? Admitted candidates to the MS in Mathematical Finance & Financial Technology are considered for merit-based scholarships. You do not need to submit any additional information to be eligible for a merit-based award. Notification about scholarship is included in the acceptance packet. The Federal Direct Stafford Loan is available to U.S. citizens and U.S. permanent residents. Learn more about our financial aid offerings.

Do you offer financial aid to international students? Yes, all applicants to the MS in Mathematical Finance& Financial Technology program are automatically considered for merit-based scholarships provided that their applications are submitted by the admission deadlines. A separate application is not required. In addition, international students can finance their graduate education with private education loans provided they apply with a creditworthy U.S. citizen or permanent resident with a U.S.-based address.

The Graduate Admissions and Financial Aid team is here to support you during the admission process. Please feel free to email us at msmft@bu.edu or to call us at (617) 353-2670.

Upcoming MSMFT Admissions Events

Ready to Apply?

Ready to apply? Follow the link to learn more about the application process. Once you’ve submitted your materials, we’ll start the review process. We’re happy to answer your questions along the way.

Application Deadlines

  • Round 1: November 20, 2024
  • Round 2: February 12, 2025
  • Round 3: April 4, 2025

Rolling admissions will be on a space available basis after the 4/4/25 deadline