Bachelor of Mathematics in Mathematical Finance (Optional Co-op)

Application Fees : CAD$ 251

Undergraduate Entry Requirements:

1. Academic Achievement: International students applying for undergraduate programs at the University of Waterloo are expected to have a minimum academic achievement of 80% or above in their secondary school studies.  

2. English Language Proficiency: The accepted English language tests and their minimum score requirements are as follows:

   • IELTS: Overall score of 6.5 with no band less than 6.5 in writing, 6.0 in reading, 6.0 in listening, and 6.5 in speaking.
   • TOEFL: Minimum score of 90 on the Internet-based Test (iBT).
   • PTE: Minimum score of 63.
   • DET (Duolingo English Test): Minimum score of 120.

It is important to note that meeting the minimum entry requirements does not guarantee admission to the University of Waterloo. The university receives a large number of applications and admission decisions are based on a holistic assessment of various factors, including academic performance, test scores, personal statements, and letters of recommendation.

The University of Waterloo offers several scholarships and financial aid options to support international students in their academic journey. These scholarships recognize academic excellence, leadership potential, and contributions to the community. 

1. International Master's Award of Excellence: This scholarship is available to international students entering a research-based master's program. It provides funding of up to $2,500 per term for a maximum of five terms.

2. Ontario Graduate Scholarship (OGS): The OGS is a merit-based scholarship available to domestic and international students pursuing a graduate degree at the University of Waterloo. The scholarship provides funding of up to $15,000 per year for a maximum of two or three years, depending on the program.

3. President's Scholarship of Distinction: This prestigious scholarship is awarded to top international students entering an undergraduate program at the University of Waterloo. The scholarship covers full tuition for up to four years of study.

4. International Student Entrance Scholarships: These scholarships are available to high-achieving international students applying for undergraduate programs. The value of the scholarships varies and is renewable for up to four years, based on academic performance.

5. Faculty-specific Scholarships: Various faculties at the University of Waterloo offer scholarships specifically for international students. These scholarships are based on academic achievement, leadership potential, and involvement in extracurricular activities within the respective faculty.

6. Donor-funded Scholarships: The university receives generous contributions from donors, which are used to establish scholarships for international students. These scholarships may have specific eligibility criteria and application processes.

It is important to note that the availability, eligibility criteria, and application deadlines for scholarships may vary. To apply for scholarships, international students are typically required to submit an application for admission to the university. Some scholarships may have additional application requirements, such as essays or reference letters. It is important to care.

Graduates of the Bachelor of Mathematics in Mathematical Finance program at the University of Waterloo are highly sought after in the financial industry for their strong quantitative skills, deep understanding of financial markets, and ability to analyze complex financial instruments. The Bachelor of Mathematics in Mathematical Finance program at the University of Waterloo provides graduates with a solid foundation in mathematics, finance, and quantitative analysis, preparing them for diverse and rewarding career opportunities in the financial industry, risk management, and quantitative finance. With its emphasis on mathematical rigor, financial theory, empirical analysis, and optional co-op experience, the program equips graduates with the skills, knowledge, and experience needed to succeed in today's dynamic and competitive financial markets.

1. Quantitative Analyst (Quant): Graduates may pursue careers as quantitative analysts, also known as quants, working for investment banks, hedge funds, or proprietary trading firms. Quants develop mathematical models and algorithms to analyze financial data, price derivatives, and optimize trading strategies. They may specialize in areas such as algorithmic trading, high-frequency trading, or quantitative portfolio management.

2. Financial Analyst: Graduates may work as financial analysts for investment banks, asset management firms, or financial services companies. They analyze financial statements, evaluate investment opportunities, and provide recommendations to clients or senior management. They may specialize in areas such as equity research, fixed income analysis, or mergers and acquisitions (M&A).

3. Risk Manager: Graduates may pursue careers as risk managers, working for banks, insurance companies, or regulatory agencies. Risk managers identify, assess, and mitigate financial risks, such as credit risk, market risk, and operational risk. They develop risk models, perform stress testing, and ensure compliance with regulatory requirements.

4. Derivatives Trader: Graduates may work as derivatives traders, trading financial derivatives such as options, futures, and swaps. They analyze market trends, identify arbitrage opportunities, and execute trades to generate profits for their firm. They may specialize in specific asset classes or trading strategies, such as equity derivatives, interest rate derivatives, or volatility trading.

5. Financial Engineer: Graduates may pursue careers as financial engineers, designing and implementing quantitative models and software tools for financial institutions. They develop pricing models for complex financial products, design risk management systems, and build trading algorithms. They may work for software companies, financial technology (fintech) startups, or quantitative trading firms.

6. Actuarial Analyst: Graduates with strong mathematical and statistical skills may work as actuarial analysts for insurance companies, pension funds, or consulting firms. They assess and price insurance risks, develop mortality and morbidity tables, and design insurance products. They may specialize in life insurance, health insurance, or property and casualty insurance.

7. Data Scientist: Graduates may work as data scientists for financial institutions or technology companies, analyzing large datasets to extract insights and inform business decisions. They may use machine learning algorithms, statistical techniques, and big data technologies to develop predictive models for credit scoring, fraud detection, or customer segmentation.

8. Financial Planner/Advisor: Graduates may pursue careers as financial planners or advisors, helping individuals and businesses manage their finances, investments, and retirement planning. They provide personalized financial advice, develop financial plans, and recommend investment strategies based on clients' goals and risk tolerance. They may work for financial planning firms, banks, or independent advisory firms.

9. Further Education: Graduates may choose to pursue further education through graduate studies in finance, mathematics, or related disciplines. They may enroll in master's or doctoral programs to deepen their knowledge, specialize in a particular area of interest, or pursue academic or research-oriented careers in academia, industry, or government.