Quant Guide 2021: University of Chicago
Chicago, Illinois, US
The University of Chicago’s Master of Science in Financial Mathematics returns to Risk.net’s Quant Guide this year with a strong showing, ranking 15th, thanks to its performance on the key metrics of average employment rate, graduate salaries and popularity among applicants.
Chicago’s programme, led by associate professor of mathematics Roger Lee, remains in high demand among prospective students. The school reports receiving 1,358 applications for its latest intake, making it one of the most popular participants in the guide. Of that large number of applicants, 68 ended up enrolling this year.
The master’s also reports a strong average starting salary of $101,920, and an employment rate of 95% across the last four years.
Students tackle an academic curriculum comprising 400 units of mandatory or ‘core’ courses, 400 units of computing, and 450 units of electives. Core subjects include: mathematical foundations of option pricing; probability and stochastic processes; and two sets of classes on portfolio theory and risk management. Available computing courses include classes in Python, C++ and machine learning.
The range of electives, meanwhile, include topics such as model risk, multivariate data analysis and market microstructure. Students can also work on a 10-week project lab course, on material provided by partner firms. The course may be taken more than once – according the programme, many students take it repeatedly to build industry experience.
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