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Master of Mathematical Finance

The Master of Mathematical Finance (MMF) program at IIT is a professional (non-thesis) interdisciplinary program offered jointly by the Department of Applied Mathematics and the Stuart School of Business. 

The MMF program provides individuals interested in pursuing careers in financial risk management with advanced education in theoretical, computational, and business aspects of quantitative methodologies relevant to the financial industry.

Superior quantitative education

Over the past few decades, major transformations in global finance have given rise to increased demand for professionals with a deep understanding of the modern financial system, and the ability to provide quantitative services—such as the development and validation of pricing and hedging models—to the financial sector.

The MMF program provides a superior quantitative education for those who are pursuing careers in quantitative analysis and financial engineering. Well-regarded faculty include both renowned researchers, who advance knowledge in the field of mathematical finance, and well-regarded professionals who are in quantitative analysis leadership positions at such firms as QRM Inc. and Cognitive Capital LLC.

The MMF program is nationally ranked at #25 by Quantnet and at #23 by The Financial Engineer.

Our alumni are employed by such companies as CME Group, Discover Financial Services Inc., Goldman Sachs Group Inc., ICE Inc., JPMorgan Chase & Co., Morgan Stanley, OCC, QRM Inc.

Ideal balance of theory and practice

The MMF program at Illinois Tech offers an ideal balance of theoretical knowledge and practical projects. Applied mathematics professors offer lectures in such areas as stochastic processes, mathematical finance and credit risk, to name a few. Adjunct professors, who are senior quants from the financial industry, provide practical insight into fixed income modeling and practice, computation methods in quantitative finance, trading strategies, and more.

Based in Chicago, a vibrant financial community

The MMF program is based in Chicago, a vibrant financial community that includes the OCC, CME Group, ICE Inc., Citadel LLC, UBS AG and other firms. The program’s advisory board, student research and internship experiences, and graduate employment opportunities are all enriched by this location.