Universities / University of Waterloo
Master of Quantitative Finance (MQF)
A professional master's spanning stochastic calculus, statistics, financial econometrics, machine learning and finance, with a compulsory internship term. Small cohort run by Waterloo's statistics and actuarial science department.
What you’ll study
Core
- Finance 1 (ACC 770/ACTSC 970)
- Stochastic Calculus for Quantitative Finance (ACTSC 969)
- Estimation and Hypothesis Testing (STAT 850)
- Finance 2 (ACC 771/ACTSC 971)
- Finance 3 (ACC 772/ACTSC 972)
- Financial Econometrics (STAT/ACTSC 974)
- Computer Intensive Methods for Stochastic Models in Finance (STAT 906)
Electives
- Two second-term electives (not named on page)
Source: uwaterloo.ca ↗
Before you apply
- Background
- Four-year honours degree in a quantitative discipline, at least 80% average
- Maths
- single and multivariable calculus; real analysis; linear algebra; advanced undergraduate probability; advanced undergraduate statistics
- Programming
- Working knowledge of at least one language (Python, Matlab, R or C++); VBA and SQL useful
- Tests
- GMAT/GRE optional, not required
- English
- TOEFL iBT 90 (writing 25, speaking 25); IELTS 7.0 (6.5 writing/speaking); PTE 63
- Other
- Three referees (two academic), statement of interest, résumé, interview; deadline January 6
Source: uwaterloo.ca ↗
After graduation
- Employment
- Internship placement: 16 of 16 (100%) hired for internships, class of 2024; 100% for 2023 and 2022, 77% for 2021 (this is internship hiring, not graduate employment)
- Typical first roles
- Quantitative analyst, Quantitative credit risk analyst, Trader in global markets, Investment analyst (fixed income/alternatives), Data analyst
- Employers
- RBC, TD Securities, Scotiabank, CIBC, CPP Investment Board, OTPP, Deloitte, Manulife
Source: uwaterloo.ca ↗
Want to see what employers ask for? Browse open quant roles.
What students and graduates say
Threads from QuantNet and other forums where applicants, students and graduates discuss this programme. They’re personal views and may be out of date.
- University of Waterloo - Master of Quantitative Finance (QuantNet school page) (QuantNet)
- Waterloo MQF Admission Test (QuantNet)
Checked 6 November 2026 against the sources linked on this page. Fees, units and requirements change each year, so confirm them on the programme’s website before applying.