M-Phimac Application Process
Our application window for September 2023 opens November 1, 2022.
Application deadline: For full consideration, applications must be submitted with all documentation attached by February 1, 2023.
- Admission requires an Honours Bachelor degree in a quantitative subject, such as mathematics, statistics, physics, computer science, or engineering.
- For non-native English speakers, evidence of fluency from either TOEFL or IELTS. For TOEFL, a minimum score of 92 (iBT) 580 (paper), or 237 (computer test) is required. For IELTS, a minimum overall score of 6.5 and a minimum of 5.5 in each section of the Academic test.
Additional Admission Criteria:
- 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.
PLEASE READ THE FOLLOWING BEFORE SUBMITTING YOUR APPLICATION.
A complete admission application contains of the following items:
- Online application form. Please select the “MFM” program listed under the Faculty of Science. Be sure that you fill out your name correctly. If you receive an admission to McMaster University, we will register you under the name that appears on your application form. Your name should be consistent with your passport, birth certificate, social insurance number etc. unless your personal situation changes after application. Please make sure you are applying to the correct academic program.
- Two Letters of Recommendation. We require two confidential letters of recommendation from instructors most familiar with your academic work. Please note that McMaster University uses the Electronic Referencing System. By entering the email address of your referee through the online application, the system will automatically send an e-Reference request on your behalf. If for some reason you are unable to use the Electronic Referencing System, you can download the reference form here (PDF).
- Transcripts. Upload your transcript(s) to your online application. We will only review applications that have transcripts attached to them. Students who accept an offer will need to provide official transcripts sent directly from the issuing institution (or a certified/notarized copy of it). If the final transcript does not show that a completed degree has been conferred, an official/notarized copy of your diploma is also required.
- Statement of interest. Upload a one-page summary describing how your background and goals make you an excellent candidate for success in MPhimac, and in a future career in financial mathematics.
- TOEFL score: If English is not your native language, an official copy of your TOEFL or IELTS score is required.
- Application fee. Your non-refundable $110 application fee must be paid by credit or debit card.
International students: Please see further information on requirements for international students here. Admission of international students is extremely competitive. Successful applicants generally have a first class degree, or 85% average, and reference letters presenting evidence of a strong academic background.
Tuition: The total fees for this program for 2022-2023, including Supplementary Fees for Canadian or Permanent Resident Students are 23,500 and $45,045 for International Students plus $1000 supplemntal fees. No scholarships or financial aid are available for this program. Please note, these are the most recent fees approved by the Board of Governors. All fees are subject to change. Click here and scroll to the bottom of the page to Master - Science; MFM for more information.
Due to the volume of applications, we cannot respond to emails regarding the status of applications. It is your responsibility to check the status of your on-line application via Mosaic, McMaster's application manager. Once you have submitted your online application, you will receive an email confirming that your application has been successfully submitted within the next few days. That email will contain important information about how to access Mosaic to follow the status of your application and your checklist of required documents.
For any information that can't be submitted online, required documents should be sent to:
Department of Mathematics & Statistics
1280 Main Street West, HH218
L8S 4K1 Canada
For questions related to the application procedure, please contact our Administrative Assistant.