How to Apply
The Quant Program accepts applications for Fall term only. The next available start term is Fall 2021, which begins in August of 2021.
September 2020: Rackham Graduate Application opens. Applicants can begin working on and submitting their applications, though no applications will be reviewed until after the submission deadline.
February 1, 2021: Deadline to submit the Rackham Graduate School Application.
February 8, 2021: Recommended deadline for test scores and letters of recommendations to reach our office in order to guarantee consideration in the review process.
Mid-March: First round of decisions released.
April 15, 2021: Enrollment deposit ($3,000 domestic/$5,000 international) deadline for first-round admits.
April through May 1: Additional decisions issued on a rolling basis. Enrollment deposits are due by the date indicated in applicant’s admissions letter.
Enrollment deposits are credited toward students’ first semester’s tuition and are nonrefundable.
All applicants will receive a decision by May 1, 2021.
To be considered complete and receive full consideration, your application should consist of the following:
1. Rackham Online Application. More information is available on the Rackham Graduate School website. Please be sure to select the admissions application for the option you are applying to, either the Quantitative Finance and Risk Management or the Accelerated Master’s Degree Program. The fee for international students is $90. For the Fall 2020 application season, the application fee is waive for all U.S. citizens and permanent residents.
The following materials comprise the Rackham Application:
- Statement of Purpose: The Statement of Purpose should be a concise, well-written essay about your mathematical background, your career goals, and how the Quantitative Finance and Risk Management program will help you meet your career and educational objectives.
- Personal Statement: This is different from the Statement of Purpose in that we ask that you write about things not captured by the application or the Statement of Purpose. Tell us about where you grew up, when you first decided you wanted to study quantitative finance, what challenges you faced and how you overcame them in your pursuit of your education and career.
- Resume: Upload your resume that describes your education, work experience, research experience, professional affiliations, volunteer activity and community engagement, honors and awards. Please limit your resume to 1 page.
- Three letters of recommendation: Register your recommenders for the electronic Letters of Recommendation system in the online application. AMDP applicants need only submit 2 letters of recommendation, though we recommend that both come from U-M faculty in mathematics or statistics.
2. Official GRE General scores: Request ETS to send official scores directly to the Rackham Graduate School at the University of Michigan. Applicants may submit multiple scores, but at least one score that meets the minimum must be received by the designated deadline in order for an applicant to be considered. Our ETS school code is 1839. You do not need a department code. AMDP applicants are encouraged, but not required, to submit GRE scores.
3. Official Transcripts: Submit official transcripts from all post secondary institutions are submitted to the University of Michigan Rackham Graduate School. Directions on what qualifies as an official transcript and how to submit official transcripts can be found here. We will consider your application complete and proceed with reviewing it using the unofficial transcripts uploaded with your application, but you cannot be admitted without official transcripts on file.
4. TOEFL or IELTS Scores (for non-native English speakers only): This requirement may be waived for some applicants depending on their educational background. Visit the Graduate School’s website to determine whether you qualify for a waiver. For Quant Program applicants, your overall TOEFL core must be 95 or higher. Your overall IELTS score must be 7 or higher. Current U-M students are automatically exempt from this requirement.
My experience in the Quant Program was wonderful! The curriculum was designed to provide students with opportunities to develop problem-solving skills in mathematics, statistics, and finance. Since graduating, I’ve been able to apply the expertise I gained in my master’s degree to working on real banking risk management projects. I truly appreciate the enthusiasm that all of the faculty and staff demonstrate toward helping students in their coursework and job placement.