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- Quantitative Finance and Risk Management
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Who Should Apply
We eagerly accept applications from students of all quantitative majors, including mathematics, statistics, physics, engineering, computer science, and economics. While our coursework is very rigorous and requires a high level of mathematical preparation, we also believe that talented students will excel no matter their background. Therefore, there may be some flexibility in our prerequisites for students who are otherwise exceptionally well-qualified.
Coursework generally required for admission includes:
- Advanced Calculus
- Linear Algebra
- Ordinary Differential Equations
- Partial Differential Equations
- Programming (Matlab and/or C/C++)
Experience in the following subjects is also recommended and valued by our admissions committee:
- Financial Mathematics
Communication skills, leadership, work experience, and demonstrated interest in financial markets and careers in quantitative finance will also be evaluated during the admissions process.
Test Scores and GPA
Scores from the GRE general test are required for all applicants. There is no minimum GRE score to be considered for admission.
The minimum TOEFL score for those required to submit it is 95 (or 7 for the IELTS). Applications from students with TOEFL scores below 95 and who are not exempt from the Graduate School's English proficiency requirement will not be considered.
To account for the diversity of academic systems and grading scales, we do not enforce a minimum GPA. However, competitive applicants possess credentials that demonstrate superior academic performance.
Learn more about the kind of applicants we look for by meeting our current students and reviewing our class profiles:
Additional Information and Important Items to Remember
Because of the processing time, the GRE and TOEFL or IELTS tests should be taken well in advance so that we will have received them by the application deadline. While there are no minimum acceptable GRE scores, a high standard is expected. No admission action will be taken without the official results.
Letters of recommendation play an especially crucial role in the admission process. Applicants should choose recommenders who know their strengths and weaknesses relevant to graduate study in Mathematics. The most useful letters are those which list in some detail the accomplishments of the student and make direct comparisons with other students who have succeeded at major U.S. graduate schools. Foreign students already in the U.S. should submit letters from their U.S. institution, whenever possible. Please register your recommenders for the electronic Letters of Recommendation when using the Online Application.
Those students who will have completed a Master's degree in Quantitative Finance will not be considered for admission.
- The ETS school code for the University of Michigan Rackham Graduate School is 1839.
- The ETS code for the GRE test for Mathematics is 0703.
Note: All credentials submitted for admission consideration become the property of the University of Michigan and will not be returned in original or copy form.
Additional Information: Please visit the admissions page of the Rackham Graduate School for additional information regarding admission including: Minimum graduate school requirements, residency, application fees and submitting transcripts.