Mathematical Finance

Study equations that include dollar signs

Finance program students talking about a project while sitting on red bench inside.

Explore your interests in finance and theoretical math simultaneously.

In one of the most advanced undergraduate finance programs in the world, you’ll focus on the math behind financial markets.

Offered jointly by the Department of Pure Mathematics and the Department of Statistics and Actuarial Science, Mathematical Finance is designed for students with elite mathematical abilities who wish to pursue finance combined with pure mathematics.

Our challenging curriculum includes courses on corporate finance, mathematical finance, asset-liability management, statistics, and forecasting. It also provides a co-op stream where students can gain up to two years of paid work experience.

This is a degree that can launch your high-flying career in banking and finance.

Program highlights

Your choice: Four years or five. Gain 24 months of paid work experience through Waterloo's five-year co-op program or fast track your degree by choosing the regular system of study and graduate in four years.

Social and academic support. Whether you’re looking for a study group or a night out with your classmates enjoying cheesy nachos, the Math Finance Student Association has you covered.

Available as a regular or co-op program
Graduate with a Bachelor of Mathematics in Mathematical Finance
Offered by the Faculty of Mathematics

What will you learn?

First-year courses

During your first year, you'll take a mix of foundational courses in Math and Computer Science. In upper years, most of the classes you'll take will be in Actuarial Science and Pure Math.

Learn more about the courses you'll take for your Mathematical Finance degree.

Customize your degree

You can add additional areas of expertise to your degree by including one or more of the minors available to all Waterloo students.

Once you're a student, advisors can help you explore which minors or specializations may fit into your plans.

Get tips from Waterloo students

Join our monthly newsletter for tips such as choosing a university program, life at Waterloo, and finances.

Contact a student ambassador

Ask a Faculty of Mathematics student about their program, classes, getting involved on campus, and more!

Co-op = relevant paid work experience

By alternating school terms and paid co-op work terms throughout your degree, you can explore new career areas and types of employers as your career interests evolve.

Sample co-op job titles

Product manager assistant
Security developer
Quality assurance technician
Risk analyst
Trading products quantitative analyst
Business application developer
Data governance analyst
Trading products quantitative analyst

What can you do with a degree in Mathematical Finance?

Waterloo Mathematical Finance graduates often pursue careers in investment banking, financial analysis, and more. They typically work in financial institutions, investment companies, and more.

Recent graduates

Investment Analyst – Manulife Financial
Data Scientist – EMAGIN Clean Technologies
Risk Analyst – TD Bank Group
Associate Director, Counterparty Credit Risk – RBC Capital Markets
Quantitative Investment Associate – Putnam Investments
Quantitative Portfolio Manager – Lombard Odier
Risk Modelling Analyst – TD Bank Group

Learn about the future of careers in business.

Student life, including women in mathematics

Math Society (MathSoc)

MathSoc is run by students for students and provides a wide range of clubs and services as well as social and academic events to make your experience as a Waterloo Mathematics student the best it can be. There are many ways to get involved and to meet students in other Faculty of Mathematics programs.

Campus-wide activities

Outside of the Faculty of Mathematics, our campus is packed with opportunities to get involved, no matter how unique your interests. Between clubs supported by the Waterloo Undergraduate Student Association, sports and recreation, student government, and an incredible range of events, there's something for everyone at Waterloo!

Women in Mathematics

The Women in Mathematics (WiM) community encourages and advocates for women of all ages who are interested in studying math and pursuing a career in a related area. WiM strives for all genders to be well-represented in mathematics and welcomes people with under-represented gender identities.

Women in Computer Science

Women in Computer Science (WiCS) promotes gender equity for students interested in studying computer science and pursuing career in computing. WiCS has a very active student-run committee and offers events such as the Big CSters mentoring program, workshops, a speaker series, and panels about diversity in computer science and STEM.

There's also Women in Science, Technology, Engineering, and Mathematics (WiSTEM), a student-run club that welcomes all students (regardless of gender) to promote equality in STEM. Opportunities include skills workshops, discussions, homework help, and guest speakers.

Admission requirements

Ontario students: six Grade 12 U and/or M courses including

Advanced Functions
Calculus and Vectors
Any 4U English
One other 4U course

Recommended course: Grade 11 U Introduction to Computer Science

Admission averages: Individual selection from the high 80s

How to apply?

Apply to Mathematics and choose Mathematical Finance as your major at the end of first year. Once you've applied, you'll need to complete the Admission Information Form as part of the application process.

We strongly encourage you to participate in the Canadian Senior Mathematics Contest and/or the Euclid Mathematics Contest to enhance your admissions status.

To be considered for entrance scholarships in the Faculty of Mathematics, you must write one or both of the contests. If you complete both contests, we'll use the results of the contest in which you performed best.

Connect with us

Questions about courses, programs, requirements, or careers?

Please contact our Faculty of Mathematics recruitment coordinator who can answer any questions you have.