Master of Financial Mathematics atMcMaster University , HamiltonFaculty of Science


12 months (Full Time)

Course Level

PG Degree

International Students Admission Website

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Type of University


Year of establishment



  • The Master of Financial Mathematics (also called M-Phimac) is an intensive one-year graduate program
  • Eight months of coursework taught by recognized experts emphasize the development of both strong technical foundations and professional knowledge, with the goal to understand the applications of advanced mathematics to finance and investments
  • Financial mathematics applies methods of mathematics, statistics, computational science and economics to core problems arising in financial institutions


  • University Rankings
    • #90

      - ARWU (Shanghai Ranking) 2022

    • #152

      - QS 2023

    • #85

      - THE (Times Higher Education) 2023

    • #138

      - US News & World Report 2023

Fees & Expenses
1st year tuition fees
Fees componentsAmount
Tuition & feesINR 27,10,808
Other expenses in 1st Year
Fees componentsAmount
Hostel & MealsINR 6,87,857
InsuranceINR 38,274
TransportationINR 15,827
Athletics & Recreation SportsINR 2,347
Student Athletics & RecreationINR 5,717
Student Wellness CentreINR 6,499
GSA FeeINR 14,202
Books and SuppliesINR 73,119
Entertainment costINR 60,180
Personal ExpensesINR 60,180
TotalINR 9,64,202

Calculated at the exchange rate of 1 CAD = INR 60.18


Tuition & expenses were last updated on 9ᵗʰ December 2021

Entry Requirements

QualificationEntry Criteria

No specific cutoff mentioned


No specific cutoff mentioned

  • Admission requires an Honours Bachelor degree in a quantitative subject, such as mathematics, statistics, physics, computer science, or engineering
  • For graduates of mathematics or statistics, a minimum B+ average across their level 3 and 4 undergraduate mathematics and statistics courses, or the equivalent standard from another university. Mathematics graduates are expected to have taken real analysis at level 3 or higher. For other graduates, comparable results in level 2,3 and 4 quantitative courses plus complementary achievement in their chosen specialization. For instance, engineering candidates are expected to have studied PDEs and/or a course with notable theoretical mathematics. Physicists are expected to have taken courses where they have studied stochastic processes. All applicants must meet the Level 4 requirements of the School of Graduate Studies
  • Evidence of communication and interpersonal skills, and the ability to work effectively in the North American business culture
  • Other evidence of leadership, analytical expertise, industry experience, or other marketable job skills
  • Competence in a general computer programming language such as C++ or python as well as experience with scientific packages such as Matlab, maple, R or Mathematica. Any additional programming competence will be beneficial in the program


Marks - 92/120


Marks - 63/90


Marks - 6.5/9

  • With a minimum of 5.5 in each section

Other eligibility criteria
Successful applicants generally have a first-class degree, or 85% average, and reference letters presenting evidence of a strong academic background
Conditional Offer

Not mentioned

Application Process

Step 1: Prepare documents for application

  • Two Letters of Recommendation: Two confidential letters of recommendation from instructors most familiar with applicants academic work

Step 2: Additional documents required

Step 3: Start your online application

Step 4: Application fees for this course

Scholarship information is not available. You can apply to non-college specific scholarships available for Canada.

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