Programs of Study

Some students are looking to enter a full-time program of study culminating in the degree, an MS in Math Finance. Others are working full time and are seeking an opportunity to upgrade their skills for their current job or prepare for a change of jobs.  Others still may want to take only a course or two to pursue a particular interest, explore whether they are mathematically prepared for further study, or see whether they like the field.  We have different programs of study to suit the needs of different students:

• Full Time Masters in Mathematics in Finance
• Part-Time Masters in Mathematics in Finance
• Advanced Certificate in Financial Mathematics
• Non-Degree Study
• MBA/MS in Mathematics in Finance
  

Full Time Masters in Mathematics in Finance: A three semester professional masters degree with the expectation that students are seeking positions in the financial industry. Entry into the full-time MS program can be made ONLY in the fall. Students take 4 courses per semester, participate in the weekly Masters Seminar,  and usually do an internship during the summer between the second and third semesters. While the program is not able to guarantee placement in summer internship positions, we do have strong contacts within the financial community and offer significant help by distributing resumes to prospective employers and hosting on-campus interviews. The track record of our students receiving summer internships is extremely strong. We place heavy emphasis on job placement, with assistance given to resume preparation, interviewing skills, and access to our growing network of contacts.
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Part-Time Masters in Mathematics in Finance: Well suited to those working full-time in the industry who desire a master’s degree. Students typically take one or two courses per semester and can take anywhere from 3 to 5 years to complete the degree. Part-time students must plan carefully as most courses have prerequisites and some are offered only in one semester. It is possible to enter as a part-time student in the spring. Students doing so should start by taking Derivative Securities, Stochastic Calculus and/or Risk and Portfolio Management with Econometrics, all of which are offered in both the fall and spring semesters.  Click here for course sequence advice for part-time students.

Once admitted part-time, students are free to take any schedule of classes that meet their needs and are consistent with work and other demands on their time. This can include taking 4 courses per term but the availability of career counseling and job placement assistance is restricted to those admitted full time.

Advanced Certificate in Financial Mathematics:  Well suited to those working in the industry who want to take just those courses (more than 4) most relevant to their interests and professional needs. Students typically matriculate as non-degree, a designation that permits a maximum of 4 courses, and then find that they want to take additional courses. The Certificate program is not to be considered an entry into the MS program. Any 8 courses that are part of the MS curriculum, except for theProject and Presentation course, can be taken to receive the Certificate. Federal law mandates that we provide the following disclosure.

The application for the full-time Mathematics in Finance MS program, the part-time Mathematics in Finance MS program, or the part-time Certificate program consists of the following parts:

• The application itself
• A statement of purpose
• 3 recommendation letters
• Official transcripts from all colleges or universities you attended
• GRE score (note:  we do not accept GMAT for these programs of study)
• TOEFL score for international students (this is not required if you have an undergraduate degree or advanced degree from an English-speaking university)
• A resume

Non-Degree Study:  A flexible framework for students who want to take up to four courses.  Many students are interested in taking just a few courses. Non-degree study is ideal for them, due to its greater flexibility (not limited to mathematical finance classes) and simpler application process (not requiring GRE scores and letters of recommendation). Non-degree students are entitled to take up to 4 courses in the mathematics department and then must be accepted into the master’s or certificate program to continue. Any courses taken will count towards the degree if they are considered part of the curriculum for that degree. (For example, Linear Algebra I will not count towards the Math Finance Masters or Certificate because it is considered a prerequisite for those programs, though it would count towards the MS in Mathematics.)

Students should not assume that successful completion of 4 courses as a non-degree student assures their admission to the degree program, either as a full-time or part-time student.  While it is likely that good performance will allow them to continue to take courses for the Certificate, the degree program is still highly competitive. The acceptance rate into the full-time degree program is around 10%.

MBA/MS in Mathematics in Finance: The dual MBA/MS degree is a partnership between NYU Stern and the Courant Institute of Mathematical Sciences, both highly regarded in their fields. Designed to be the most comprehensive program of its kind, using the top faculty and resources of each school, it will provide a new type of graduate for prospective employers. The mix of financial and quantitative skills provided by this program will make its graduates strong candidates for positions in quantitative risk and portfolio management and the design, pricing, trading and hedging of structured products. The program takes three years to complete. Students study for the first two years on a full-time basis and complete the final year on a part-time basis

Admission to the MBA/MS Program
To apply for the dual MBA/MS degree, candidates must complete a separate application for each program.  No additional admissions standards are applied to dual degree applications at either school.  The student qualifies for the dual MBA/MS degree program upon admission to both schools.  Applicants will automatically be considered for the stand-alone programs ( Graduate School of Arts and Sciences, MBA at Stern) as well as for the dual degree program.

The deadline to apply to the Mathematics in Finance MS program is February 15.  There are three possible deadlines to apply to the MBA program at Stern: November 15, January 15 and March 15. 

Students must be admitted to both programs separately in order to qualify for the dual MBA/MS degree.  If a student is admitted to only one program, that degree (MBA or MS) may be pursued on its own.

The application for MBA/MS in Mathematics in Finance program consists of the following parts:

• The application itself
• A statement of purpose
• 3 recommendation letters
• Official transcripts from all colleges or universities you attended
• GRE score or GMAT score (You must ask the GMAT Program to send your official test scores to GSAS using school code 5TF-5G-76 and you must also separately send GMAT scores to Stern, using their GMAT school code)
• TOEFL score for international students (this is not required if you have an undergraduate degree or advanced degree from an English-speaking university)
• A resume
• Application to the MBA program through Stern
  

For further information about applications to the Mathematics in Finance MS program, click here. For questions about admission to Stern, email sternmba@stern.nyu.edu and for questions about admission to Courant, email mathfinapp@cims.nyu.edu.

Academic Requirements for MBA/MS program
The 72-credit program is divided between the two schools. Students spend the first two years taking courses at both Stern and Courant. After completing the MBA requirements during the first two years, students then continue for two additional semesters of part-time study at Courant. Students will begin full-time employment after completing the first two years of the program and thus, will complete the two final semesters of part-time study at Courant while working full time. Students are awarded the MBA after successful completion of the first two years of the program and the MS upon the successful completion of the final two semesters.

The dual degree program may only be pursued on a full-time basis during the first two years; it is not open to part-time students. Transfer credits are not accepted by either program. To view course sequencing click here.

Course Registration for MBA/MS program
Students register for the first three semesters at Stern. After the first three semesters, students register for courses through Courant.

Stern core classes are offered Monday-Thursday during the day. Stern elective classes are offered Monday-Thursday during the day and Monday-Thursday in the evening from 6:00-9:00 p.m. Courant classes are offered Monday-Thursday in the evening from either 5:10-7:00 p.m. or 7:10-9:00 p.m. Courant registration is handled through the NYU Graduate School of Arts and Sciences, while the NYU Stern Office of Records & Registration handles registration for Stern students.

Tuition & Financial Aid for MBA/MS program
Students will pay the flat semester tuition rate when registered at Stern during their first three semesters and a per credit tuition charge when registered at Courant thereafter. The current cost of tuition and fees for one semester at Stern is $20,911. The current cost of tuition and fees per credit at Courant is $1,196 (each course at Courant is three credits). These rates are subject to change and annual increase.

All applicants admitted to NYU Stern are considered for merit-based scholarships. Students must apply to Stern by the November 15 deadline in order to receive priority consideration for a scholarship. The Courant Institute does not offer scholarships.  Students who receive an outside scholarship may apply for matching funds from the Graduate School of Arts and Sciences (GSAS) tuition incentive program for the semesters that they are registered at Courant.

MBA/MS students may obtain a Teaching Fellowship (TF) or Graduate Assistantship (GA) position at NYU Stern. The eligibility requirement for these positions is completion of 30 Stern MBA credits and maintenance of at least a 3.2 GPA. Payment for these positions is in the form of tuition remission at Stern.  The Courant program does not offer teaching or research fellowships.

Financial aid will be administered through the program in which students are currently enrolled. Loans are also available through the NYU Stern Graduate Financial Aid Office and the NYU Financial Aid Office.

Career Services for MBA/MS program
Stern’s Office of Career Development (OCD) will help dual degree students with career counseling and placement. Access to Stern alumni and Stern-specific job postings will become available during the first semester that students are registered at Stern.

In their first year at Stern, students will have access to the Career Development Program (CDP), which is required before participating in on-campus recruiting. OCD will assist dual degree students with finding a summer internship between their first and second year, as well as securing full-time employment after their second year.  In addition, dual degree students will be included in Courant’s Resume Book during their first and second year. On-campus recruiting is not provided in the third year as students will be working full-time and attending school part-time.

Student Life for MBA/MS program
MBA/MS students are encouraged to become active in student clubs at both Stern and the Courant Institute of Mathematical Sciences.

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