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What will I learn?

In one of the most advanced undergraduate finance programs in the world, you’ll focus on the math behind financial markets.

Offered jointly by the Department of Pure Mathematics and the Department of Statistics and Actuarial Science, Mathematical Finance is designed for students with elite mathematical abilities who wish to pursue finance combined with pure mathematics.

Our challenging curriculum includes courses on corporate finance, mathematical finance, asset-liability management, statistics, and forecasting. It also provides a co-op stream where students can gain up to two years of paid work experience.

This is a degree that can launch your high-flying career in banking and finance.

Co-op

By alternating school terms and paid co-op work terms throughout your degree, you can explore new career areas and types of employers as your career interests evolve.

Sample co-op job titles

  • Product manager assistant
  • Security developer
  • Quality assurance technician
  • Risk analyst
  • Trading products quantitative analyst
  • Business application developer
  • Data governance analyst
  • Trading products quantitative analyst

What can you do with a degree in Mathematical Finance?

Waterloo Mathematical Finance graduates often pursue careers in investment banking, financial analysis, and more. They typically work in financial institutions, investment companies, and more.

Recent graduates

  • Investment Analyst – Manulife Financial
  • Data Scientist – EMAGIN Clean Technologies
  • Risk Analyst – TD Bank Group
  • Associate Director, Counterparty Credit Risk – RBC Capital Markets
  • Quantitative Investment Associate – Putnam Investments
  • Quantitative Portfolio Manager – Lombard Odier
  • Risk Modelling Analyst – TD Bank Group

Which department am I in?

Faculty of Mathematics

Study options

Full Time (3 to 4 years)

Tuition fees
CAD$47,000.00 (US$ 34,602) per year
Approximate tuition fees: CAN $47,000 - $48,000; Co-op fee: CAN $739/term
Start date

Expected September 2022

Venue

Faculty of Mathematics

University of Waterloo,

WATERLOO,

Ontario (ON),

N2L 3G1, Canada

Entry requirements

For students from United States

Other English language requirements: MELAB - Michigan English Language Assessment Battery: 85,80 per section For co-op programs: speaking 3; CAEL - Canadian Academic English Language Assessment: 70, 60 per band, Writing 70,Speaking 70; PTE Academic - Pearson Test of English: 63, Writing 65, Speaking 65; EFAS - English for Academic Success: 75% overall in 400 level with 75% in each of academic, oral, and writing.

For international students

Applicants must have completed a Ontario high school diploma or equivalent.

Ontario students: six Grade 12 U and/or M courses including

  • Advanced Functions
  • Calculus and Vectors
  • Any 4U English
  • One other 4U course

Recommended course: Grade 11 U Introduction to Computer Science

Admission averages: Individual selection from the high 80s

English language requirement:

  • Internet - based TOEFL (iBT) - 90 overall; 25 writing, 25 speaking.
  • IELTS Academic: 6.5 overall; 6.5 writing, 6.5 speaking, 6.0 reading, 6.0 listening.
  • MELAB: 85 overall; 80 per section; if you're applying to a co-op program: 3 speaking.
  • CAEL: 70 overall; 60 per band; 70 writing, 70 speaking.
  • PTE Academic: 63 overall; 65 writing, 65 speaking.

*There may be different IELTS requirements depending on your chosen course.

Pathways options

Offered by other partners

This university accepts pathways courses from
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