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%.

MS in Mathematics in Finance/MBA: The dual MS/MBA 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 two and a half years to complete. Students study on a full-time basis.

Admission to the MS/MBA Program
Only first year full-time Courant MS in Mathematics in Finance students are eligible to apply for the dual MS/MBA degree.  Current first year full-time Courant MS in Mathematics in Finance students must complete the full NYU Stern MBA application by the MS/MBA application deadline. Individuals who already hold an MBA granted in the U.S. are not eligible for admission to the dual degree program. View application deadlines and learn more about the MS in Mathematics in Finance/MBA application process.

For prospective dual degree students who are not yet enrolled in the MS in Mathematics in Finance program, the deadline to apply to the Mathematics in Finance MS program is February 15. The application for 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)
• 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

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 MS/MBA program
The 72-credit MBA/MS in Mathematics in Finance program is divided between the two schools and takes two and a half years to complete. Students study for the first year at Courant, the second year at Stern and then spend the fall of their third taking courses at both schools. The dual degree program may be pursued only on a full-time basis; it is not open to part-time students. Transfer credits are not accepted by either program. To view a sample schedule, visit the Stern Academic Affairs website.

Course Registration for MS/MBA program
Students register for the first two semesters at Courant and the next three semesters at Stern.

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 MS/MBA program
Students will pay the flat semester tuition rate when registered at Stern and a per credit tuition charge when registered at Courant.

All applicants admitted to NYU Stern are considered for merit-based scholarships. 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 Science (GSAS) tuition incentive program for the semesters that they are registered at Courant.

MS in Mathematics in Finance/MBA students may be eligible to obtain a Teaching Fellowship (TF) or Graduate Assistantship (GA) position at Stern (after completing at least 9 credits at Stern), or a Teaching Assistantship (TA) at the Courant Institute. Payment for these positions is in the form of tuition remission at Stern or stipend payment.

Financial aid is administered through the program in which students are registered in a particular semester.

Career Services for MS/MBA program
In their first year, dual degree students are included in Courant’s Resume Book for obtaining a summer internship between the first and second year of the program.  Having a business internship for this summer is strongly encouraged.

Stern’s Office of Career Development (OCD) helps dual degree students with career counseling and placement once they begin taking classes at Stern. Access to Stern OCD services as well as alumni and Stern-specific job postings are available beginning in the first semester that students are registered at Stern.

In their first year at Stern, students have access to the Ignite career development program, which is required in order to participate in on-campus recruiting. OCD will assist dual degree students with finding a summer internship between their second and third year, as well as securing full-time employment for after graduation.

Stern career services after graduation are provided by the Career Center for Working Professionals (CCWP).

Please note that classes taken during the evening at Courant or Stern may conflict with some company presentations that are part of the fall finance recruiting process at Stern during the second and third year of the program.

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

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