FOX SCHOOL OF BUSINESS AND MANAGEMENT

Learn more about the Master of Science in Quantitative Finance and Risk Management.

About the Program

This program is not accepting applications for the 2024-2025 academic year.

Through the Master of Science in Quantitative Finance and Risk Management, students develop expertise in quantitative modeling, risk management and data science principles and in the best industry practices driving the financial services industry today. This 30-credit master’s degree program is the only one in the Greater Philadelphia region offering the ideal way to pursue the professional Financial Risk Manager (FRM) designation and a prestigious master’s degree simultaneously.

Time Limit for Degree Completion: 6 years

Campus Location: Main

Full-Time/Part-Time Status: Full-time students are able to complete the degree program in 10 or 22 months, while part-time students taking 8 or fewer credits per term are able to complete the program in two years.

Affiliation(s): Research interests of Fox faculty are supported by numerous centers and institutes throughout the Fox School and Temple University.

Accreditation: The MS in Quantitative Finance and Risk Management is accredited by the Association to Advance Collegiate Schools of Business (AACSB International).

Job Prospects: The Fox Center for Student Professional Development (CSPD) provides students with career coaching and professional development resources that support the job search. Graduates are distinctly qualified to contribute in quantitative analysis areas in the financial services industry, including financial modeling, financial risk management, information technology, portfolio management and securities trading roles.

Non-Matriculated Student Policy: Students are not allowed to take classes under non-matriculated status.

Financing Opportunities: Citizens and permanent residents of the United States are considered domestic students and are typically eligible for federal student loans and alternative loans through private lenders. The Fox School grants 5% tuition scholarships to alumni who are admitted to the program.

Admission Requirements and Deadlines

Application Deadline:

Fall:

• December 15 – Early Admissions Deadline
• March 1 – Scholarship Deadline and International Deadline
• June 30 – Final Deadline

Applications are reviewed as they are received and will be considered after the deadline on a space-available basis.

APPLY ONLINE to this Fox graduate program.

Letters of Reference:
Number Required: 1

From Whom: Academic references and/or professional references from an immediate supervisor, current or past, are accepted.

Coursework Required for Admission Consideration: Coursework is required in multivariate calculus (Calculus 3) with a grade of "B" or better earned.

Bachelor's Degree in Discipline/Related Discipline: The equivalent of a four-year U.S. baccalaureate degree from an accredited university or college is required. For three-year degrees, mark sheets must be evaluated by WES or another NACES organization.

Statement of Goals: Essay prompts can be found in the application portal.

Standardized Test Scores:
GMAT/GRE: Scores may be requested based on the applicant's academic and/or professional background. Candidates with an undergraduate GPA below 3.0 are required to submit valid GMAT or GRE test scores. Consult an admissions advisor with any questions.

Applicants who earned their baccalaureate degree from an institution where the language of instruction was other than English, with the exception of those who subsequently earned a master’s degree in a country where the language of instruction is English, must report scores for a standardized test of English that meet these minimums:

• TOEFL iBT: 90
• IELTS Academic: 7.0
• Duolingo: 110
• PTE Academic: 68

Resume: Current resume or CV is required.

Interview: Candidates are invited to interview in person or virtually. Interviews are required on a case-by-case basis.

Writing Sample: Prompts for this optional essay can be found in the online application portal.

Transfer Credit: Transfer credit is not accepted for the Quantitative Finance and Risk Management MS program.

Program Requirements

General Program Requirements:
Number of Credits Required Beyond the Baccalaureate: 30

Required Courses:¹

Plan of Study Grid

Year 1
Fall		Credit Hours
Finance Academy, August
FIN 5602	Corporate Finance	1
FIN 5604	Derivative Markets	1
FIN 5605	Fixed Income	1
FIN 5607	Stochastic Calculus & Finance	1
Fall Term
FIN 5601	Financial Technology	1
FIN 5612	Asset Pricing	1.5
FIN 5614	Continuous Time Finance	1.5
FIN 5615	Data Science in Finance	1.5
FIN 5619	Quant Fixed Income	1.5
FIN 5624	Numerical Methods	1.5
FIN 5627	Financial Econometrics	1.5
FIN 5629	Value at Risk	1.5
FIN 5673	Financial Risk Management I	1.5
FIN 5675	Professional Development	1
	Credit Hours	18
Spring
FIN 5622	Machine Learning in Finance	1.5
FIN 5631	Financial Time Series	1.5
FIN 5634	Stochastic Volatility	1.5
FIN 5639	Quantitative Risk Modeling	1.5
FIN 5646	Frontiers in Quantitative Finance	1.5
FIN 5648	Quantitative Portfolios	1.5
FIN 5649	Enterprise Risk Management	1.5
FIN 5674	Financial Risk Management II	1.5
	Credit Hours	12
	Total Credit Hours	30

¹

With approval from the Academic Director, FIN 5683 Special Study in Finance or non-FIN graduate courses may be substituted for any required course.

10-Month Full-Time MS

Plan of Study Grid

Year 1
Fall		Credit Hours
Finance Academy, August
FIN 5602	Corporate Finance	1
FIN 5604	Derivative Markets	1
FIN 5605	Fixed Income	1
FIN 5607	Stochastic Calculus & Finance	1
Fall I
FIN 5612	Asset Pricing	1.5
FIN 5614	Continuous Time Finance	1.5
FIN 5619	Quant Fixed Income	1.5
FIN 5673	Financial Risk Management I	1.5
FIN 5675	Professional Development	1
Fall II
FIN 5601	Financial Technology	1
FIN 5615	Data Science in Finance	1.5
FIN 5624	Numerical Methods	1.5
FIN 5627	Financial Econometrics	1.5
FIN 5629	Value at Risk	1.5
	Credit Hours	18
Spring
Spring I
FIN 5631	Financial Time Series	1.5
FIN 5634	Stochastic Volatility	1.5
FIN 5639	Quantitative Risk Modeling	1.5
FIN 5648	Quantitative Portfolios	1.5
Spring II
FIN 5622	Machine Learning in Finance	1.5
FIN 5646	Frontiers in Quantitative Finance	1.5
FIN 5649	Enterprise Risk Management	1.5
FIN 5674	Financial Risk Management II	1.5
	Credit Hours	12
	Total Credit Hours	30

22-Month Full-Time MS¹

Plan of Study Grid

Year 1
Fall		Credit Hours
Finance Academy, August
FIN 5604	Derivative Markets	1
FIN 5607	Stochastic Calculus & Finance	1
Fall I
FIN 5612	Asset Pricing	1.5
FIN 5614	Continuous Time Finance	1.5
FIN 5675	Professional Development	1
Fall II
FIN 5615	Data Science in Finance	1.5
FIN 5627	Financial Econometrics	1.5
	Credit Hours	9
Spring
Spring I
FIN 5631	Financial Time Series	1.5
FIN 5634	Stochastic Volatility	1.5
FIN 5648	Quantitative Portfolios	1.5
Spring II
FIN 5622	Machine Learning in Finance	1.5
FIN 5646	Frontiers in Quantitative Finance	1.5
FIN 5673	Financial Risk Management I	1.5
	Credit Hours	9
Year 2
Fall
Finance Academy, August
FIN 5602	Corporate Finance	1
FIN 5605	Fixed Income	1
Fall I
FIN 5601	Financial Technology	1
FIN 5619	Quant Fixed Income	1.5
FIN 5674	Financial Risk Management II	1.5
Fall II
FIN 5624	Numerical Methods	1.5
FIN 5629	Value at Risk	1.5
	Credit Hours	9
Spring
Spring I
FIN 5639	Quantitative Risk Modeling	1.5
Spring II
FIN 5649	Enterprise Risk Management	1.5
	Credit Hours	3
	Total Credit Hours	30

¹

This full-time program can be modified for part-time study. In the part-time 22-month program, students reduce their courseload in the Spring term of their first year of study to 6 credits and increase their courseload to 6 credits in the Spring term of their second year. Contact the Academic Director for the 22-month part-time schedule for the Quantitative Finance and Risk Management MS.

Culminating Event: Successful completion of coursework is required to earn the MS in Quantitative Finance and Risk Management degree.

Contacts

Department Contacts: