Quantitative Finance - Master of Quantitative Finance (MQF)
CanadaCourse at a Glance
- MasterDegree level
- 1.3 yearsDuration
- Main Campus, Waterloo, CanadaLocation
- Faculty of MathematicsField of study
- EnglishLanguage of instruction
- Main Campus, WaterlooCampus
- Master of Quantitative Finance (MQF)Awards
- $27,432Fees
- AvailableScholarship
About this programme
Today's financial industry is rapidly evolving and complex. The Master of Quantitative Finance (MQF) program focuses on the fundamental disciplines of mathematics, statistics, econometrics, machine learning, computer science and finance to provide the analytical tools to solve practical problems in the complex world of finance.
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You’ll be equipped for positions with financial institutions, corporations and government regulatory organizations. Based in the Department of Statistics and Actuarial Science, the program is offered with the option of a research paper or a thesis. The thesis option is best if you’re interested in pursuing research or a PhD, while the research paper option allows you to complete an internship where you’ll acquire practical experience in a real-world setting to graduate career ready. Research fields for this program include artificial intelligence, business and industrial statistics, computational statistics, data science, machine learning, probability, statistical modelling and inference, and survey methods. Graduates come away from the program equipped for a range of positions that require advanced skills in quantitative finance, such as financial engineers in model vetting and risk compliance, analysts in portfolio credit and market risk, asset managers and portfolio managers.
Is this course right for you?
Our counsellors check your profile against this programme's entry criteria and tell you where you stand — before you pay anything.
What we look at
- Your subject background and grades
- Your English score, or how to get one
- Budget, including living costs
University & programme
Canada- Listed from the catalogueNot yet staff-verified — ask us to confirm the details.
- English requirementIELTS Overall 7.0
- Study modefull-time
Admissions checklist
Entry requirements
• An overall 80% average from a Canadian university (or its equivalent). || • A four-year honour's bachelor's degree (or equivalent) with a strong background in quantitative methods. Such a background may be in mathematics, statistics, actuarial science, computer science, economics, engineering, physics, provided there is a strong component of high level mathematics in the program. Strong communication skills are also highly desirable. || • An interview and diagnostic test may be required. || • Resume || • Statement of interest || • Uploaded as a supporting document in the online application. Review the writing your personal statement resources for helpful tips and tricks on completion. || • Provide a statement outlining your interest in the Master of Quantitative Finance program. How does the program relate to your past education and experience and your future career goals? || • Program-specific questions (PSQ) || • These are questions specific to the program you’re applying to. They can be viewed once you’ve started an application and are completed through a form in the online application. || • Transcript(s) || • References || • Two references are required, normally from academic sources. || • Proof of English language proficiency, if applicable || • TOEFL 90 (writing 25, speaking 25), IELTS 7.0 (writing 6.5, speaking 6.5) · English: IELTS 7.0 (no band below 6.5); TOEFL iBT 90 · English test waiver: Exempt from submitting an ELP test score if any one applies: three or more years of post-secondary education at a Canadian institution or university; a completed graduate degree at a Canadian university; three or more years of post-secondary education or a completed graduate degree in an exempt country (list includes Australia, Ireland, New Zealand, Nigeria, Singapore, South Africa, UK, USA and others); at least three years' employment in a position where English was the language of business in a listed country; or three or more years of post-secondary education / a graduate degree at a university where English is the only language of instruction per the IAU WHED (this WHED exemption expires two years after graduation). Letters from a university stating the medium of instruction is English do NOT satisfy the requirement. Source: https://uwaterloo.ca/future-graduate-students/admissions/admission-and-english-language-proficiency-requirements · Application fee: CAD 150.00 per program, non-refundable (Graduate Studies Applicant Portal)
The usual set for this level. Your counsellor confirms the exact list for this university.
- Academic transcripts
- English test score (IELTS/TOEFL)
- Passport copy
- Statement of purpose (optional)
- Recommendation letters (optional)
Cost & scholarships
- Tuition$27,432 CAD / year≈ $20,171 / year
- Living costsVary by city — see the destination guide.
- ScholarshipsCourse-based (coursework) program. Waterloo publishes that course-based programs "are typically self-funded, which means that you are expected to cover the costs of tuition and incidental fees associated with your program throughout the duration of your studies", that "some course-based programs offer entrance awards of varying value for full-time students based on academic merit and achievement" and that others "offer paid co-op or internship opportunities" - check with the program. Waterloo's guaranteed minimum funding, the International Master's Award of Excellence (IMAE - awarded to international master's students "normally entering a research-based graduate program") and the International Doctoral Student Award (IDSA - doctoral) are scoped to research-based programs. University-wide award open to course-based students: the Ontario Graduate Scholarship (OGS), CAD 5,000 per term to a maximum of CAD 15,000 - Waterloo states "OGS awards are open to applicants in all disciplines of academic study (research-based AND course-based programs)", but for the international competition "prospective graduate students are not eligible to apply and must be current graduate students"View scholarship page
Application timeline
Typical timings. Deadlines differ per university and intake.
- 1Prepare documents1–2 weeks
- 2Submit application1–3 weeks
- 3Receive offer letter2–6 weeks
- 4Apply for visa4–8 weeks
Application deadline: • January 6 (for admission in September)
Visa & support journey
- Offer letterFrom the university
- Visa guidanceExpert support
- Pre-departureAccommodation & travel
- Ongoing supportEven after you arrive
Student stories
Real students. Real results.
- Average rating
- 4.9
- Google reviews
- 360+
- Rated five stars
- 95%
Average rating
Google reviews
Rated five stars
“I would like to express my gratitude for the excellent assistance provided during my student visa process. The team was responsive, knowledgeable, and supportive at every stage, from document preparation to submission guidance. Their clear communication and professional approach made the process much easier and more efficient.”
1 / 8
Nihad K, 5 out of 5 stars
Every review below is a real Google review — see all of them
Frequently asked questions
How much does Quantitative Finance - Master of Quantitative Finance (MQF) cost?
CAD 27,432 / year.
What English score does it need?
IELTS 7.0 overall is the score listed for this programme.
How long is it?
1.3 years, as listed by the university.
What are the entry requirements?
• An overall 80% average from a Canadian university (or its equivalent). || • A four-year honour's bachelor's degree (or equivalent) with a strong background in quantitative methods. Such a background may be in mathematics, statistics, actuarial science, computer science, economics, engineering, physics, provided there is a strong component of high level mathematics in the program. Strong communication skills are also highly desirable. || • An interview and diagnostic test may be required. || • Resume || • Statement of interest || • Uploaded as a supporting document in the online application. Review the writing your personal statement resources for helpful tips and tricks on completion. || • Provide a statement outlining your interest in the Master of Quantitative Finance program. How does the program relate to your past education and experience and your future career goals? || • Program-specific questions (PSQ) || • These are questions specific to the program you’re applying to. They can be viewed once you’ve started an application and are completed through a form in the online application. || • Transcript(s) || • References || • Two references are required, normally from academic sources. || • Proof of English language proficiency, if applicable || • TOEFL 90 (writing 25, speaking 25), IELTS 7.0 (writing 6.5, speaking 6.5) · English: IELTS 7.0 (no band below 6.5); TOEFL iBT 90 · English test waiver: Exempt from submitting an ELP test score if any one applies: three or more years of post-secondary education at a Canadian institution or university; a completed graduate degree at a Canadian university; three or more years of post-secondary education or a completed graduate degree in an exempt country (list includes Australia, Ireland, New Zealand, Nigeria, Singapore, South Africa, UK, USA and others); at least three years' employment in a position where English was the language of business in a listed country; or three or more years of post-secondary education / a graduate degree at a university where English is the only language of instruction per the IAU WHED (this WHED exemption expires two years after graduation). Letters from a university stating the medium of instruction is English do NOT satisfy the requirement. Source: https://uwaterloo.ca/future-graduate-students/admissions/admission-and-english-language-proficiency-requirements · Application fee: CAD 150.00 per program, non-refundable (Graduate Studies Applicant Portal)
Is there a scholarship?
Course-based (coursework) program. Waterloo publishes that course-based programs "are typically self-funded, which means that you are expected to cover the costs of tuition and incidental fees associated with your program throughout the duration of your studies", that "some course-based programs offer entrance awards of varying value for full-time students based on academic merit and achievement" and that others "offer paid co-op or internship opportunities" - check with the program. Waterloo's guaranteed minimum funding, the International Master's Award of Excellence (IMAE - awarded to international master's students "normally entering a research-based graduate program") and the International Doctoral Student Award (IDSA - doctoral) are scoped to research-based programs. University-wide award open to course-based students: the Ontario Graduate Scholarship (OGS), CAD 5,000 per term to a maximum of CAD 15,000 - Waterloo states "OGS awards are open to applicants in all disciplines of academic study (research-based AND course-based programs)", but for the international competition "prospective graduate students are not eligible to apply and must be current graduate students" View scholarship page
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